Illinois Administrative Code
Title 50 - INSURANCE
Part 201 - SUBORDINATED INDEBTEDNESS
Section 201.30 - Approval by Shareholders
Universal Citation: 50 IL Admin Code ยง 201.30
Current through Register Vol. 48, No. 12, March 22, 2024
After submission of the documents specified in Section 201.20 and approval thereof by the Director, the proposed form of debenture and the resolution authorizing it shall be presented for consideration at a regular or special shareholder's meeting called to determine the question of whether or not the debenture shall be made. All agreements shall be executed and the consideration received within one year after the date of shareholder's approval.
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