Illinois Code § 10050
Illinois Code § 10050. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.
§ 10050.
Reorganization; emergency. Whenever, in the course of reorganization, supervening conditions render the plan of reorganization unfair or its execution impractical, the Secretary may modify the plan, provided the modification is with the written consent of the depositors and other creditors representing at least 75% in amount of the total deposits and other liabilities which are impaired or lessened by the modification, or may, provided the Federal Deposit Insurance has not been appointed, appoint a receiver for liquidation as provided in this Act. (Source: P.A. 96-1365, eff. 7-28-10.)
Source: official Illinois text · Last verified 2026-08-27
At a glance
- Citation: Illinois Compiled Statutes § 10050
- Jurisdiction: Illinois
- Code: Illinois Compiled Statutes
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official Illinois Compiled Statutes. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Illinois attorney.
Common questions
What is the source of Illinois Compiled Statutes § 10050?
The text above is transcribed from the Illinois Compiled Statutes, the codified statutes of Illinois. The official publisher link appears under "Verify the text" on this page.
What subject does Illinois Compiled Statutes § 10050 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Illinois Compiled Statutes § 10050 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Illinois source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Illinois law to your facts requires a licensed Illinois attorney who can review the specifics.