(205 ILCS 205/Art. 10 heading) ARTICLE 10. Involuntary Liquidation (Source: P.A. 96-1365, eff. 7-28-10.) (205 ILCS 205/10001) Sec. 10001. (Repealed). (Source: P.A. 92-483, eff. 8-23-01. Repealed by P.A. 96-1365, eff. 7-28-10.) (205 ILCS 205/10002) Sec. 10002. (Repealed). (Source: P.A. 90-301, eff. 8-1-97. Repealed by P.A. 96-1365, eff. 7-28-10.) (205 ILCS 205/10003) Sec. […]
(205 ILCS 205/Art. 11 heading) ARTICLE 11. Enforcement Powers (205 ILCS 205/11001) (from Ch. 17, par. 7311-1) Sec. 11001. Affirmative action to correct conditions resulting from violations of law, regulations, or orders or from practices. The Commissioner is hereby granted authority to issue orders under this Act that require a savings bank or an […]
(205 ILCS 205/Art. 12 heading) ARTICLE 12. Compliance Review (205 ILCS 205/12001) Sec. 12001. Compliance review. (a) As used in this Section: “Affiliate” means a corporation whose stock is at least 80% owned by the depository institution or a corporation that directly or indirectly owns at least 80% of the depository institution. “Depository institution” […]
(205 ILCS 205/Art. 12.1 heading) ARTICLE 12.1. Effect of Repeal of Illinois Savings and Loan Act of 1985 (Source: P.A. 98-1081, eff. 1-1-15.) (205 ILCS 205/12101) Sec. 12101. Effect of repeal. This Article sets forth the effect of and means of transition necessitated by the repeal of the Illinois Savings and Loan Act of […]
(205 ILCS 205/Art. 13 heading) ARTICLE 13. Effective Date (205 ILCS 205/13001) (from Ch. 17, par. 7313-1) Sec. 13001. Effective Date. This Act takes effect July 1, 1990. (Source: P.A. 86-1213.)
(205 ILCS 205/Art. 2 heading) ARTICLE 2. Holding Companies (205 ILCS 205/2001) (from Ch. 17, par. 7302-1) Sec. 2001. Unless the context otherwise requires, as used in this Article, the terms defined in the Sections following this Section and preceding Section 2002 shall have the meanings therein given. (Source: P.A. 86-1213.) (205 ILCS […]
(205 ILCS 205/Art. 3 heading) ARTICLE 3. Incorporation and Organization (205 ILCS 205/3001) (from Ch. 17, par. 7303-1) Sec. 3001. Application for permit to organize. (a) Not fewer than 5 nor more than 20 persons may organize a savings bank under this Act. (b) The Secretary shall determine the minimum required capital which shall […]
(205 ILCS 205/Art. 4 heading) ARTICLE 4. Membership (205 ILCS 205/4001) (from Ch. 17, par. 7304-1) Sec. 4001. Members. (a) The membership of a mutual savings bank shall consist solely of every depositor or holder of a deposit account issued by the savings bank. (b) The members of a stock savings bank shall be […]
(205 ILCS 205/Art. 5 heading) ARTICLE 5. Capital (205 ILCS 205/5001) (from Ch. 17, par. 7305-1) Sec. 5001. Minimum capital. (a) A savings bank may be organized to exercise the powers conferred by this Act with minimum capital, surplus, and reserves for operating expenses as determined by the Commissioner. In no case may the […]
(205 ILCS 205/Art. 6 heading) ARTICLE 6. Investments (205 ILCS 205/6001) (from Ch. 17, par. 7306-1) Sec. 6001. General provisions. (a) No savings bank shall make any loan or investment authorized by this Article unless the savings bank first has determined that the type, amount, purpose, and repayment provisions of the loan or investment […]
(205 ILCS 205/Art. 7 heading) ARTICLE 7. Deposit Accounts (205 ILCS 205/7001) (from Ch. 17, par. 7307-1) Sec. 7001. Definitions. As used in this Article, the following terms have the following meanings. “Deposit accounts” means certificates of deposit, withdrawable deposits, savings accounts, demand deposit accounts, checking accounts, or any other term or terms appropriate. […]
(205 ILCS 205/Art. 8 heading) ARTICLE 8. Voluntary Corporate Changes (205 ILCS 205/8001) (from Ch. 17, par. 7308-1) Sec. 8001. Amendment of articles and bylaws. A savings bank may amend its articles of incorporation or bylaws in accordance with the procedure set forth in this Article, but those articles and bylaws shall conform to […]
(205 ILCS 205/Art. 9 heading) ARTICLE 9. Supervision (205 ILCS 205/9001) (from Ch. 17, par. 7309-1) Sec. 9001. Personnel, records, files, actions, and duties. The Commissioner shall appoint, subject to applicable provisions of the Personnel Code, a supervisor, examiners, employees, experts, and special assistants as may be necessary to effectively carry out this Act. […]
