reglab/housing_qa huggingface dataset:
205 ILCS 620/4-3
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article IV - Foreign Corporate Fiduciaries

 (from Ch. 17, par. 1554-3)Sec. 4-3.     Service of process upon Secretary of State.     Any foreign corporation acting in this State in a fiduciary  capacity pursuant to the provisions of Article IV and Article IVA of this  Act  shall be deemed to have appointed the Secretary of State to be  its true and lawful attorney upon whom may be served all legal  process in any action or proceeding against it relating to or  growing out of any trust, estate or matter in respect of which  such foreign corporation has acted or is acting in this state in  any such fiduciary capacity, and the acceptance of or engagement  in this State in any acts in any such fiduciary capacity shall be  signification of its agreement that any such process against it  which is so served, shall be of the same legal force and validity  as though served upon it personally.  Service of such process  shall be made by delivering to the Secretary of State, the  corporation department of the office a copy of such process,  together with the fee for service of process required by the  Secretary of State, and such service shall be sufficient service  upon said foreign corporation if notice of such service and a  copy of the process are, within 10 days thereafter, sent by  registered mail by the plaintiff to the defendant at its  principal office in such other state or territory and the  plaintiff's affidavit of compliance herewith is appended to the  summons.  The court in which the action is pending may order such  continuances as may be necessary to afford the defendant  reasonable opportunity to defend the action.  The fee paid by the  plaintiff to the Secretary of State at the time of the service  may be recovered as taxable costs by the plaintiff if such party  prevails in the action.  The Secretary of State shall keep a  record of all process served upon him under this section and  shall record therein the time of such service.    (Source: P.A. 92-483, eff. 8-23-01.)
205 ILCS 620/4-4
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article IV - Foreign Corporate Fiduciaries

 (from Ch. 17, par. 1554-4)Sec. 4-4.         Place of business not to be established in  State; not deemed transacting business.(a) A foreign corporation,  as defined in Section 1-5.08 of this Act, shall not establish in  this State a place of business, branch office, or agency for the  conduct of business as a fiduciary and because it is not permitted to  establish in this State a place of business, branch office or  agency, a foreign corporation  insofar as it acts in a fiduciary capacity in this State pursuant  to the provisions of this Act shall not be deemed to be  transacting business in this State.  The foreign corporation may apply for, and  procure from the Commissioner, a license to establish a representative office  pursuant to the Foreign Bank Representative Office Act.The provisions of this subsection (a) do not apply to foreign  corporations establishing or acquiring and maintaining a place of business in  this State to conduct business as a fiduciary in accordance with Article IVA of  this Act.(b) Notwithstanding subsection (a) of this Section 4-4, after May 31,  1997, a branch of an out-of-state bank, as defined in Section 2 of the Illinois  Banking Act, and a foreign association, as defined in  Section 1-10.31 of the Illinois Savings and Loan Act of 1985, may establish  an office  in this State for the conduct of business  as a fiduciary, provided: (i) fiduciary  business conducted in this State by a branch of an out-of-state bank is subject  to examination by the Commissioner; and (ii) the trust activities  of the  branch of the out-of-state bank are subject to regulation, including  enforcement actions, by the Commissioner to the same extent as Illinois  corporate fiduciaries.    (Source: P.A. 91-97, eff. 7-9-99; 92-483, eff. 8-23-01.)
205 ILCS 620/4-5
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article IV - Foreign Corporate Fiduciaries

(205 ILCS 620/4-5) (from Ch. 17, par. 1554-5)Sec. 4-5.         Certificate of authority; fees; certificate of  reciprocity.(a) Prior to the time any foreign corporation acts in this State as  testamentary trustee, trustee appointed by any court, trustee under any written  agreement, declaration or instrument of trust, executor, administrator,  administrator to collect, guardian or in any other like fiduciary capacity,  such foreign corporation shall apply to the Commissioner of Banks and Real  Estate for a certificate of authority with reference to  the fiduciary capacity or capacities in which such foreign corporation proposes  to act in this State, and the Commissioner of Banks and Real Estate shall issue a certificate of authority to such corporation  concerning only the fiduciary capacity or such of the fiduciary capacities to  which the application pertains and with respect to which he has been furnished  satisfactory evidence that such foreign corporation meets the requirements of  Section 4-2 of this Act.  The certificate of authority shall set forth the  fiduciary capacity or capacities, as the case may be, for which the certificate  is issued, and shall recite and certify that such foreign corporation is  eligible to act in this State in such fiduciary capacity or capacities, as the  case may be, pursuant to the provisions of this Act.  The certificate of  authority shall remain in full force and effect until such time as such foreign  corporation ceases to be eligible so to act under the provisions of this Act.(b) Each foreign corporation making application for a certificate of  authority shall pay reasonable fees to the Commissioner of Banks and Real  Estate as determined by the Commissioner for the services  of his office.(c) Any foreign corporation holding a certificate of  reciprocity which recites and certifies that such foreign  corporation is eligible to act in this State in any such  fiduciary capacity pursuant to the provisions of Article IV of  this Act or any predecessor Act upon the same subject, issued  prior to the effective date of this amendatory Act of 1987 may  act in this State under such certificate of reciprocity in any  such fiduciary capacity without applying for a new certificate of  authority.  Such certificate of reciprocity shall remain in full  force and effect until such time as such foreign corporation  ceases to be eligible so to act under the provisions of Article  IV of this Act.(d) Any foreign corporation acting in Illinois under a certificate of  authority or a certificate of reciprocity shall report changes in its name  or address to the Commissioner and shall notify the Commissioner when it is  no longer serving as a corporate fiduciary in Illinois.(e) The provisions of this Section shall not apply to a foreign  corporation establishing or acquiring and maintaining a place of business in  this State to conduct business as a fiduciary in accordance with Article IVA  of this Act.    (Source: P.A. 92-483, eff. 8-23-01.)
205 ILCS 620/Art. IVA heading
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article IVA - Multistate Trust Activities

 ARTICLE IVA.      MULTISTATE TRUST ACTIVITIES
205 ILCS 620/4A-1
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article IVA - Multistate Trust Activities

Sec. 4A-1.     Corporate fiduciaries establishing offices in other states.(a) A corporate fiduciary may act as a fiduciary or otherwise engage in  fiduciary activities in this or any other state or foreign country, subject  to complying with applicable laws of that state or foreign country, at an  office established and maintained pursuant to this Act, at a branch, or at  any location other than an office or branch.  A corporate fiduciary seeking  to establish or acquire a branch in another state or foreign country must  comply with the notice provisions in Section 1-7 of this Act.(b) A corporate fiduciary may also conduct any activities at any office  outside Illinois that are permissible for a trust institution chartered by  the state where the office is located, except to the extent those  activities  are expressly prohibited by the laws of Illinois or by any regulation or order  of the Commissioner.  However, the Commissioner may waive any such  prohibition if he determines, by order or regulation, that the involvement  of out-of-state offices of state corporate fiduciaries in particular activities  would not threaten the safety or soundness of those state corporate  fiduciaries.    (Source: P.A. 92-483, eff. 8-23-01.)
205 ILCS 620/4A-10
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article IVA - Multistate Trust Activities

Sec. 4A-10.         Additional places of business for foreign  corporations. A foreign corporation that establishes or acquires and maintains  a place of business to conduct business as a fiduciary in Illinois pursuant to  Section 4A-5  may establish or acquire additional trust offices or  representative  offices in this State to the same extent that a corporate fiduciary may  establish  or acquire additional offices in Illinois under Section 1-7 of this Act.    (Source: P.A. 92-483, eff. 8-23-01.)
205 ILCS 620/4A-15
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article IVA - Multistate Trust Activities

Sec. 4A-15.     Representative offices.     A foreign corporation  not conducting fiduciary activities may establish a  representative office under the Foreign Bank Representative  Office Act.  At these offices, the foreign corporation may  market and solicit fiduciary services and provide back  office and administrative support to the foreign corporation's  fiduciary activities, but it may not engage in fiduciary  activities.    (Source: P.A. 92-483, eff. 8-23-01; 92-811, eff. 8-21-02.)
205 ILCS 620/4A-25
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article IVA - Multistate Trust Activities

(205 ILCS 620/4A-25)Sec. 4A-25.     Notice to Commissioner.     A corporate fiduciary that  maintains  a place of business in this State under Section 4A-5, or the home state  regulator  of such foreign corporation, shall give at least 30 days prior written notice  or,  in the case of an emergency transaction, such shorter notice as is consistent  with applicable state or federal law, to the Commissioner of:(1) any merger, consolidation, or other transaction     that would cause a change in control with respect to the foreign corporation or any bank holding company that controls the corporation;(2) any transfer of all or substantially all of the     trust accounts or trust assets of the foreign corporation to another person; or(3) the closing or disposition of any place of     business in this State.   (Source: P.A. 92-483, eff. 8-23-01.)
205 ILCS 620/Art. V heading
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article V - Supervision of Corporate Fiduciaries and Powers of the Commissioner

 ARTICLE V.      SUPERVISION OF CORPORATE FIDUCIARIES AND POWERS OF THE COMMISSIONER
205 ILCS 620/5-1
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article V - Supervision of Corporate Fiduciaries and Powers of the Commissioner

 (from Ch. 17, par. 1555-1)Sec. 5-1. Commissioner's powers. The Commissioner of Banks and Real  Estate shall have the following powers and  authority and is charged with the duties and responsibilities  designated in this Act:(a) To promulgate, in accordance with the Illinois Administrative Procedure  Act, reasonable rules for the purpose of administering the provisions of this  Act and for the purpose of incorporating by reference rules promulgated by the  Federal Deposit Insurance Corporation, the Board of Governors of the Federal  Reserve System, the Office of the Comptroller of the Currency, the  Office of Thrift Supervision, or their successors that pertain to corporate  fiduciaries, including, but not limited to, standards for the operation and  conduct of  the affairs of corporate fiduciaries;(b) To issue orders for the purpose of administering the  provisions of this Act and any rule promulgated in accordance  with this Act;(c) To appoint hearing officers to conduct hearings held  pursuant to any of the powers granted to the Commissioner under  this Section for the purpose of administering this Act and any  rule promulgated in accordance with this Act;(d) To subpoena witnesses, to compel their attendance, to  administer an oath, to examine any person under oath and to  require the production of any relevant books, papers, accounts  and documents in the course of and pursuant to any investigation  being conducted, or any action being taken, by the Commissioner  in respect of any matter relating to the duties imposed upon, or  the powers vested in, the Commissioner under the provisions of  this Act, or any rule or regulation promulgated in accordance  with this Act;(e) To conduct hearings;(f) To promulgate the form and content of any applications required  under this Act;(g) To impose civil penalties of up to $100,000 against any  person or corporate fiduciary for each violation of any provision  of this Act, any rule promulgated in accordance with this Act,  any order of the Commissioner or any other action which, in the  Commissioner's discretion, is a detriment or impediment to  accepting or executing trusts; and(h) To address any inquiries to any corporate fiduciary, or  the officers thereof, in relation to its doings and conditions,  or any other matter connected with its affairs, and it shall be  the duty of any corporate fiduciary or person so addressed, to  promptly reply in writing to such inquiries.  The Commissioner  may also require reports from any corporate fiduciary at any time  he may deem desirable.  (Source: P.A. 96-1365, eff. 7-28-10.)
205 ILCS 620/5-3
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article V - Supervision of Corporate Fiduciaries and Powers of the Commissioner

 (from Ch. 17, par. 1555-3)Sec. 5-3.     Violations; orders.(a) Whenever it appears to the Commissioner  from any  examination, statement of condition or report, that any  corporate fiduciary has committed any violation of law, has made  or published a false statement of condition or is conducting its  business in an unsafe, unsound or unauthorized manner, he shall,  by an order under his signature, direct the discontinuance of  such illegal and unsafe, unsound or unauthorized practices and  that the corporate fiduciary strictly conform with the  requirements of the law, and with safety and security in its  transactions.(b) If a corporate fiduciary refuses or neglects to make a  required statement of condition or any report required under this  Act, or to comply with an order as above stated, or if it appears  to the Commissioner that it is unsafe or inexpedient for the  corporate fiduciary to continue to transact business, or that  extraordinary withdrawals of money are jeopardizing the interests  of remaining depositors, or that any corporate fiduciary or  officer of a corporate fiduciary has abused his trust or is  guilty of misconduct in his official position, injurious to the  corporate fiduciary, or that it has suffered a serious loss, he  shall enter an order appropriate to the circumstances, which may  include the appointment of a receiver as hereinafter provided,  the taking of possession of the corporate fiduciary, or the removal of  a  director, officer, employee, or agent of the corporate fiduciary, or  he may, represented by the Attorney General, seek an injunction or other  appropriate order from the court.(c) No dividends shall be paid by a corporate fiduciary while it  continues its business as a corporate fiduciary to an amount greater than  its net profits then on hand, deducting first therefrom its losses  and bad debts.    (Source: P.A. 92-483, eff. 8-23-01.)
205 ILCS 620/5-4
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article V - Supervision of Corporate Fiduciaries and Powers of the Commissioner

 (from Ch. 17, par. 1555-4)Sec. 5-4.         If the Commissioner has satisfactory evidence  that any statement of condition or other report required or  authorized by this Act, made by any officer or officers of a  corporate fiduciary is false, the Commissioner may revoke the  certificate of authority granted on behalf of such corporate  fiduciary and mail a copy of such revocation to that corporate  fiduciary and the clerk of the circuit court in each county in  the state of Illinois.  Such revocation shall not be set aside  until satisfactory evidence is given to the Commissioner that  such corporate fiduciary is in substance and in fact in the  condition set forth in such required statement of condition or  report or that a corrected statement of condition, or report as  the case may be, is prepared, filed with the Commissioner and  published if the original statement or report was required to be  published and satisfactory evidence that all the requirements of  this Act have been complied with.  Such revocation is cause for  the removal of such corporate fiduciary from any appointment held  by it under this Act.    (Source: P.A. 85-858.)
205 ILCS 620/5-5
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article V - Supervision of Corporate Fiduciaries and Powers of the Commissioner

 (from Ch. 17, par. 1555-5)Sec. 5-5.         A special meeting of the board of directors may  be held upon call by the Commissioner or an examiner appointed  under the provisions of this Act, upon not less than 12 hours  notice of such meeting by personal service of such notice, or by  mailing said notice to each of the directors at his residence as  shown by the books of the corporate fiduciary.    (Source: P.A. 85-858.)
205 ILCS 620/5-7
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article V - Supervision of Corporate Fiduciaries and Powers of the Commissioner

 (from Ch. 17, par. 1555-7)Sec. 5-7.         Any person or corporate fiduciary affected by  any action under this Act, other than under  Section 5-6, may request a hearing before the  Commissioner within 10 days after receipt of notice of such action.  The  hearing shall be held by the Commissioner within 30 days after  such request has been received by the Commissioner.  At the  conclusion of such hearing, the Commissioner shall make a  determination approving, modifying or disapproving the action  taken as the final administrative decision.    (Source: P.A. 86-754.)
205 ILCS 620/5-8
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article V - Supervision of Corporate Fiduciaries and Powers of the Commissioner

 (from Ch. 17, par. 1555-8)Sec. 5-8.   All final administrative decisions of the  Secretary shall be subject to review pursuant  to the provisions of the Administrative Review Law, as now or  hereafter amended, and the rules adopted pursuant thereto.  For matters involving administrative review, venue shall be in either  Sangamon County or Cook County.  (Source: P.A. 96-1163, eff. 1-1-11.)
205 ILCS 620/5-9
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article V - Supervision of Corporate Fiduciaries and Powers of the Commissioner

 (from Ch. 17, par. 1555-9)Sec. 5-9. Statement of condition.(a)  Each corporate fiduciary shall file with  the Commissioner, when requested, a statement under oath, of the  condition of such corporate fiduciary as of the date requested.  The statement of condition shall be in such form and contain such  statements, returns and information, as to the affairs, business  conditions, and resources of the corporate fiduciary or of its  trust department, as the case may be, as the said Commissioner  may, from time to time prescribe or require.(b) Such statement of condition shall be verified by the  affidavit of the president, vice president or principal  accounting officer of said corporate fiduciary, who shall also  state in such affidavit that he has examined the books and  accounts of said corporate fiduciary or of its trust department,  as the case may be for the purpose of making said report or  statement, and that the information contained in the statement or  report is accurate to the best of his knowledge and belief.  If the statement  is submitted in electronic form, the Commissioner may, in the call for the  report, specify the manner in which the appropriate officer of the corporate  fiduciary shall verify the statement of condition.(c) (Blank).(d) Any corporate fiduciary which fails to file an accurate  statement of condition on or before the date it is due may be fined $100 for each  day of noncompliance.(e) Any corporate fiduciary which is the victim of a robbery  or experiences a  shortage of funds in excess of $10,000, an apparent  misapplication of  the corporate fiduciary's funds by an officer, employee, director,  or  agent, a charge-off of assets of the corporate fiduciary, or any adverse legal action in an amount  in excess of 10% of total capital and surplus of the corporate fiduciary,  including but  not limited to, the entry of an adverse money judgment against the  corporate fiduciary shall report that information in writing to the  Commissioner within 7 days.  Neither the corporate fiduciary,  its directors, officers, employees or agents, in the preparation or  filing of the reports required by this subsection, shall be  subject to any  liability for libel, slander or other charges resulting from information  supplied in such reports, except when the supplying of such information is  done in a corrupt or malicious manner or otherwise not in good faith.  (Source: P.A. 97-492, eff. 1-1-12.)
205 ILCS 620/5-10
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 620/ - Corporate Fiduciary Act.|Article V - Supervision of Corporate Fiduciaries and Powers of the Commissioner

 (from Ch. 17, par. 1555-10)Sec. 5-10. Fees; receivership account.(a) There shall be paid to the Commissioner by every corporate  fiduciary including each trust company, bank, savings and loan association,  and savings bank to which this Act  shall apply, reasonable  fees that the Commissioner shall assess to recover the costs of administration,  certification, examination and supervision of trusts  authorized under this Act.(b) In addition to the fees authorized in  subsection (a) of this  Section the Commissioner shall assess reasonable receivership fees and  establish a Non-insured  Institutions Receivership account in the Bank  and Trust Company Fund to provide for the expenses that arise from the  administration of the receivership of a corporate fiduciary under this Act.  The aggregate of such assessments shall be paid into the Non-insured  Institutions Receivership   account in the Bank and Trust Company Fund.  The assessments for this  account shall be levied until the sum of $4,000,000 has been  deposited into  the account from assessments authorized herein, whereupon the Non-insured  Institutions Receivership   account assessment shall be abated.  If a receivership of a corporate  fiduciary under this Act requires expenditures from this account,  assessments may be reinstituted until the balance in the Non-insured  Institutions Receivership   account arising from assessments is restored to $4,000,000.(c) The Commissioner  may, by rule, establish a reasonable manner of assessing the receivership  assessments under this Section.  (Source: P.A. 96-1365, eff. 7-28-10.)