Part 1075: SAVINGS BANK ACT

Section 1075.3100 Ability to Repay (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3150 Verification of Ability to Pay Loan (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3200 Fraudulent or Deceptive Practices (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3225 Prepayment Penalty (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3250 Pre-paid Insurance Products and Warranties (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3300 Refinancing Prohibited in Certain Cases (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3325 Balloon Payments (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3350 Financing of Certain Points and Fees (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3400 Payments to Contractors (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3450 Negative Amortization (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3500 Negative Equity (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3550 Counseling Prior to Perfecting Foreclosure Proceedings (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3600 Mortgage Awareness Program (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3650 Report of Default and Foreclosure Rates on Conventional Loans (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3700 The Director's Authority – Unusually High Rate on Conventional Loans (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.3750 Third Party Review of High Risk Home Loans (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017) SUBPART Q: DISCLOSURE OF CONFIDENTIAL SUPERVISORY INFORMATION

Section 1075.400 Capital Stock (Repealed) (Source: Repealed at 22 Ill. Reg. 6719, effective March 30, 1998)

Section 1075.4010 Definitions For purposes of this Subpart: "Act" means the Savings Bank Act [205 ILCS 205]. "Director " means the Director of Banks and Real Estate, or a person authorized by the Director to act in the Director's stead. "Compelling need" means that no other non-c…

Section 1075.4020 Purpose and Scope a) Purpose. The purpose of this Subpart is to establish the procedures and standards by which the Director shall determine whether to disclose confidential supervisory information in response to a request for discovery or disclosure of this inf…

Section 1075.4030 Requests for Confidential Supervisory Information Pursuant to Section 9012 of the Act [205 ILCS 205/9012], a request for confidential supervisory information arising from an adversarial matter, whether by subpoena, order, or other judicial or administrative proc…

Section 1075.4040 Where to Submit a Request A person requesting discovery or disclosure of confidential supervisory information under this Subpart shall mail, or hand deliver, the request to: Division of Banks and Real Estate Department of Financial and Professional Regulation Bu…

Section 1075.4050 Consideration of Requests a) Standards for the Disclosure of Confidential Supervisory Information. When making a determination with respect to the disclosure of confidential supervisory information, the Director shall consider the following standards: 1) the con…

Section 1075.4060 Disclosure of Confidential Supervisory Information a) Conditions and Limitations. The Director may impose any conditions and limitations on the disclosure of confidential supervisory information that are necessary to protect the confidentiality of this informati…

Section 1075.4070 Retrieval and Destruction of Previously Disclosed Confidential Supervisory Information Used in Litigation At the conclusion of an action: a) the requester shall retrieve the disclosed confidential supervisory information from the judicial or administrative file …

Section 1075.4080 Fees for Services a) The Director may charge the following fees for any record search or copying performed by the Director: 1) Reproduction costs incurred in making photocopies of documents shall be reimbursed at $.25 per exposure. 2) All other costs, including,…

Section 1075.410 Minimum Capital Requirement a) The Director may establish a minimum capital level for a savings bank at such amount or at such ratio of capital-to-assets as the Director determines to be necessary or appropriate in consideration of the circumstances of the saving…

Section 1075.415 Conflicting Federal Powers, Law and Regulations With regard to the exercise of any power derived from Section 1006(a) of The Act, and in case of conflict between The Act and any other statute or regulation from which a power is derived under Section 1006(a) of Th…

Section 1075.420 Advertising If a savings bank advertises a rate of return on any class of deposit account and there are restrictions or conditions which must be complied with in order for the investor to be entitled to receive such rate, such advertising shall clearly set forth …

Section 1075.430 Maintenance of Records To enable the Director to examine a savings bank, holding company, service corporation or affiliate of a savings bank pursuant to Section 9004 of the Act, each savings bank shall establish and maintain accounting and other records of all bu…

Section 1075.440 Business Plan a) All savings banks whose operations are considered unsafe or unsound by the Director pursuant to the Act or who have total capital less than the amount required under Section 5007 of the Act, or any condition that would endanger the ongoing viabil…

Section 1075.450 Excess Insurance a) Section 1005 of the Act allows savings banks to secure deposit insurance in excess of the amounts available under federally sponsored programs. The excess insurance may be obtained only through an entity authorized to do business in this State…

Section 1075.455 Vacancies in the Board of Directors If one or more vacancies occur on a board of directors of a savings bank, the remaining organization directors may continue management of the savings bank, including consenting to any enforcement actions or any other regulatory…

Section 1075.460 Bond of Officers, Organization Directors, Employees and Agents Every savings bank shall maintain bond coverage with a bonding company acceptable to the Director for every officer, organization director, employee and agent of the savings bank or such other persons…

Section 1075.465 Indemnification of Officers, Organization Directors, Employees and Agents a) No officer, organization director, employee, or agent of a savings bank may be indemnified by a savings bank against any expense incurred, if the officer, organization director, employee…

Section 1075.470 Deceptively Similar Names a) No savings bank may adopt or use any name deceptively similar to that of another current existing savings bank or financial institution that is located within the area as defined as follows: 1) within the counties of Cook, Lake, DuPag…

Section 1075.480 Manner of Display of Annual Meeting Notice Notice as required pursuant to Section 4003(a) of the Act shall be prominently displayed and located in plain view of customers at each business location with at least one copy on or near each door or entrance accessible…

Section 1075.490 Procedures for Exercise of Dissenters Rights Pursuant to Section 4012(c) of the Act, the procedures to be used by savings banks and dissenters in arriving at a value and price for dissenters' shares, as well as how distribution shall be made shall be as follows. …

Section 1075.500 Prudent Person Rule a) When making an authorized investment of savings bank funds, the board of directors, all officers, employees, and agents of any kind must exercise the judgment and care under circumstances then prevailing that persons of prudence, discretion…

Section 1075.5000 Purpose and Scope This Subpart applies to savings banks chartered under the Savings Bank Act [205 ILCS 205/1001]. (Source: Added at 30 Ill. Reg. 19068, effective December 1, 2006)

Section 1075.5010 Definitions "Payday Loan" or "loan" means a loan with a finance charge exceeding an annual percentage rate of 36% and with a term that does not exceed 120 days, including any transaction conducted via any medium whatsoever, including, but not limited to, paper, …

Section 1075.5020 Applicability of Subpart This Subpart shall apply only to payday loans made by a savings bank. Products and services offered by a savings bank that are not offered by lenders governed by the PLRA shall not be subject to this Subpart. (Source: Added at 30 Ill. Re…

Section 1075.5030 Issuance of Payday Loans by Savings Banks a) A savings bank making a payday loan shall satisfactorily address all safety and soundness considerations identified by the Division of Banking in its examination and supervision of the savings bank. Safety and soundne…

Section 1075.505 Investment Underwriting Practice A savings bank may grant a loan or invest in other authorized assets under the Act. a) For all types of secured and unsecured loans granted, and other investments entered into, a savings bank's board of directors shall establish a…

Section 1075.510 Discrimination and Redlining a) It shall be considered discriminatory to refuse to grant loans or to vary the terms of loans or the application procedures for loans because of: 1) the proposed borrower's race, color, religion, national origin, age, sex, physical …

Section 1075.515 Loans Secured by Real Estate a) A savings bank may originate, invest in, sell, purchase, service, participate, or otherwise deal in (including brokerage or warehousing) real estate loans or interest in those loans. b) In determining compliance with the maximum lo…

Section 1075.520 Construction Loans Construction lending policies and procedures shall provide that a) No disbursements shall be made unless in conformity with a contractor's statement or amended statement, which statement or amended statement shall comply with the mechanics' lie…

Section 1075.525 Mobile Home Financing (Repealed) (Source: Repealed at 22 Ill. Reg. 6719, effective March 30, 1998)