Illinois Compiled Statutes 205 ILCS 205/11007 – Effect of termination or resignation of an institution-affiliated …
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Terms Used In Illinois Compiled Statutes 205 ILCS 205/11007
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Effect of termination or resignation of an institution-affiliated party. The resignation, termination of employment, or separation of an institution-affiliated party from the savings bank affected by the party’s activities shall not affect the jurisdiction and authority of the Commissioner to issue any appropriate notice or to take any appropriate action if the notice is served within 6 years of the party’s ceasing to be an institution-affiliated party of the savings bank in question.