Illinois Code § 5003
Illinois Code § 5003. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.
§ 5003.
Capital stock; nature. Capital stock shall constitute a secondary reserve out of which losses shall be paid after all other available reserves have been exhausted and shall have a par value of $1 each or a greater amount as the articles of incorporation may prescribe. The shares shall be: (1) Nonwithdrawable, except as provided in Section 5005, until all liabilities of the savings bank have been satisfied in full, including payment of the withdrawal value of all deposit accounts. (2) Entitled to dividends only as provided in Section 5008. (3) Issued only upon cash payment of not less than the par value thereof; in connection with a merger, sale of all assets, or conversion; or as stock dividends as provided in Section 5008. (Source: P.A. 86-1213.)
Source: official Illinois text · Last verified 2026-08-27
At a glance
- Citation: Illinois Compiled Statutes § 5003
- 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 § 5003?
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 § 5003 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 § 5003 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Statutes are amended, repealed, and renumbered every session.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.
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No. This is a reference transcription for research. Applying Illinois law to your facts requires a licensed Illinois attorney who can review the specifics.