Ill. Admin. Code tit. 38 § 1075.1440
Current through Register Vol. 48, No. 50, December 13, 2024
The resulting savings bank shall have all the rights, privileges, and powers granted by its amended charter and by the statutes applicable to savings banks holding such charters, and the entire assets, business, and goodwill of the converting depository institution shall be vested in the resulting savings bank without deed or transfer, provided such resulting savings bank may execute such deeds or instruments of conveyances as may be convenient to confirm such transfer, and such resulting savings bank shall assume and be liable for all debts, accounts, undertakings, contractual obligations, and liabilities of the converting depository institution.
Ill. Admin. Code tit. 38, § 1075.1440