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Illinois Statutes Chapter 805. Business Organizations § 35/8. Certificate of organization; filing

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 8. When the applicants have completed the organization of the proposed development credit corporation, they shall file with the Director a certificate of organization executed by its president and attested by its secretary and with its seal affixed thereto, certifying:

(1) the name and addresses of all of its subscribers of stock, the number of shares subscribed and the number of shares fully paid for by each;

(2) the total number of shares subscribed, but not fully paid for;

(3) the total number of shares paid in full;

(4) the name and address of any depositary holding on deposit any funds of the development credit corporation;

(5) the names and addresses of the officers and members of the executive committee, if any, of the development credit corporation.

The certificate of organization of the applicant shall be accompanied by:

(1) the certificate of any named depositary certifying the amount of funds on deposit to the credit of the development credit corporation;

(2) any bylaws or resolutions which have been adopted.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 805. Business Organizations § 35/8. Certificate of organization; filing - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-805-business-organizations/il-st-sect-805-35-8/

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