Illinois Code § 2
Illinois Code § 2. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.
§ 2.
Any savings and loan or Federal savings and loan association may issue shares, share accounts or accounts in the joint names of two or more persons or their survivor, in which event any of such persons shall have power to act in all matters related to such shares, share accounts or accounts whether the other person or persons named in such shares, share accounts or accounts be living or not. Such a joint account shall create a single membership in any such association. The repurchase or redemption or withdrawal value of shares, share accounts or accounts issued in joint names, and dividends thereon, or other rights relating thereto, may be paid or delivered, in whole or in part, to any of such persons, whether the other person or persons be living or not. The payment or delivery to any such person, or a receipt or acquittance signed by any such person, to whom any such payment or any such delivery of rights is made, shall be a valid and sufficient release and discharge of any such association for the payment or delivery so made. (Source: Laws 1939, p. 478.)
Source: official Illinois text · Last verified 2026-08-27
At a glance
- Citation: Illinois Compiled Statutes § 2
- 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 § 2?
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 § 2 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 § 2 still in force?
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