315 ILCS 20/38
Supervision of issuance of stock and mortgages
Illinois · Illinois Compiled Statutes 315 ILCS 20 — Neighborhood Redevelopment Corporation Law. · Status: effective
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- Citation
- 315 ILCS 20/38, Supervision of issuance of stock and mortgages, Illinois, version 1 as recorded 2026-08-14, yourstate.us, https://yourstate.us/provision/1290793
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Full text
Supervision of issuance of stock and mortgages. The power of Neighborhood Redevelopment Corporations to issue shares of stock and Mortgages is a special privilege and shall be exercised only under the supervision and regulation of the Redevelopment Commission, acting for the State, according to the provisions of this Act and under such administrative rules and regulations as may be adopted by the Redevelopment Commission in discharging the functions given it by this Act. (Source: Laws 1941, vol. 1, p. 431.)