Illinois Compiled Statutes
205 ILCS 620/6-1 (2026)
Exclusive remedy
✓ current as of May 2026
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(205 ILCS 620/6-1)
(from Ch. 17, par. 1556-1)
Sec. 6-1.
Exclusive remedy.
The proceedings pursuant to
this Article 6 shall be the exclusive remedy and the only
proceedings commenced in any court for the dissolution or for the
winding up of the affairs or for the appointment of a receiver
for any corporate fiduciary.
(Source: P.A. 85-858.)
Notes of Decisions
Cited in 1
case, 2001–2001 · leading case: In re Possession & Control of the Comm'r of Banks & Real Est. of Indep. Trust Corp. (Ill. App. Ct. 2001).
In re Possession & Control of the Comm'r of Banks & Real Est. of Indep. Trust Corp. (Ill. App. Ct. 2001). “" 205 ILCS 620/6-1 (West 1998). The Commissioner has the power when he deems it necessary to take control of the corporate fiduciary, its assets and the assets held for its beneficiaries to examine, reorganize, and liquidate.”
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