Illinois Administrative Code

Section 345.450 Alternative Examination Procedures a) The Secretary may establish alternative examination procedures for banks which were rated "outstanding" as of their most recent ILCRA or federal Community Reinvestment Act examination. The purpose of the alternative procedures…

Section 345.460 Examination Authority and Cooperation a) Pursuant to the Secretary's authority under the ILCRA, including, but not limited to, Sections 35-15 and 35-25 of ILCRA, the Secretary or the Secretary's appointees may examine the entire books, records, documents, and oper…

Section 345.470 Examination Frequency and Coordination a) Subject to the provisions of this Section, the Secretary shall conduct examinations under the ILCRA or this Part in coordination with a bank's primary federal financial supervisory agency. b) Initial ILCRA examinations of …

Section 345.480 Examination Fees a) Annual fees. Each fiscal year, banks shall pay an annual ILCRA fee to the Department based upon its total assets as shown by its Consolidated Report of Condition and Income for the quarter ending March 31, at the following rates: TOTAL ASSETS I…

Section 345.490 Implementation Period a) Banks with total assets of $391,000,000 or more shall comply with this Part by February 1, 2025. b) Banks with total assets of less than $391,000,000 shall comply with this Part by August 1, 2025. c) The Secretary may conduct an examinatio…

Section 345.500 Enforcement Failure to comply with any requirement under the ILCRA, this Part or other law referenced in the ILCRA, shall be grounds for enforcement actions as authorized under the ILCRA and under the Illinois Banking Act, Savings Bank Act, or Foreign Banking Offi…

Section 345.APPENDIX D ILCRA Illustrative List of Qualifying Activities for Banks This list a non-exhaustive, illustrative list of examples of activities that would meet the criteria for a community development qualifying activity under 38 Ill. Adm. Code Part 345 provided the app…

Section 346.10 Authority for Rulemaking The authority for adoption of these rules is provided by Section 35 of the Illinois Banking Development District Act [205 ILCS 745].

Section 346.20 Definitions For the purposes of this Part: "Act" shall mean Public Act 102-0802, the Banking Development District Act. "Banking branch" shall mean a full-service branch of a depository institution that provides most or all banking services at a physical location an…

Section 346.30 Application for Creation of a Banking Development District The governing board of a local government, in conjunction with a depository institution, may submit an application to the Department for the designation of a banking development district. Each application s…

Section 346.35 Mandatory Pre-Application Conference An application for approval and creation of a banking development district shall be preceded by a pre-application conference to be attended by representatives of the municipal corporation and the depository institution applicant…

Section 346.40 Review and Disposition of Applications a) In determining whether to approve an application for the designation of a proposed banking development district, the Secretary, in consultation with the State Treasurer, which consultation may include sending a copy of the …

Section 346.45 Availability of Illinois Community Reinvestment Act Credit An approved and operational banking development district shall be considered by the Department under any assessment of the depository institution's performance in meeting its obligations under the Illinois …

Section 346.60 Reporting Requirements The local government applicant and the depository institution shall submit a report of the operations of the banking development district to the Secretary and the Treasurer each year on the anniversary of the banking development district bein…

Section 346.70 Fees for Applications and Other Services a) The fee for an Application for Approval of a Banking Development District is $2,000. b) Application fees shall be submitted to the Division at the time of submission of any application. All fees filed in connection with a…

Section 346.80 Enforcement a) If the Secretary determines after an examination of the activities of a banking development district that some or all of the banking services identified in the approved application for the banking development district have not been performed, the Sec…

Section 350.10 Purpose A method of financing real estate acquisition, development or construction projects is through lending transactions in which the state bank shares in profits, income or earnings generated by the ultimate sale or use of the real estate. These lending transac…

Section 350.20 Definitions "ADC" means acquisition, development or construction. "ADC lending transaction" means a loan or extension of credit for the purpose of real estate acquisition, development or construction. "Commissioner" means the Commissioner of Banks and Real Estate. …

Section 350.30 Permissible ADC Lending Transactions by State Banks State banks may engage in or purchase participations in ADC lending transactions unless such transactions are structured in such a manner that the state bank has the same risks and potential rewards as those of an…

Section 350.40 Characteristics of ADC Lending Transactions Implying Unauthorized Investments in Real Estate or a Joint Venture Factors which are relevant, if applicable, in determining whether the risks and rewards to the state bank as a result of an ADC lending transaction are s…

Section 350.50 Characteristics of ADC Lending Transactions Implying Loans Factors which are relevant, if applicable, in determining whether the risks and rewards to the state bank as a result of an ADC lending transaction are similar to those associated with a loan include the fo…

Section 350.60 Procedure A state bank may request a declaratory ruling pursuant to Section 5-150(a) of the Illinois Administrative Procedure Act [5 ILCS 100/5-150(a)] from the Commissioner that an ADC lending transaction is permissible by submitting a written request to the Commi…

Section 354.10 Purpose Section 3 of the Illinois Banking Act (the Act) authorizes a state bank to loan money on personal or real estate security [205 ILCS 5/3]. Section 5(12) of the Act further authorizes a state bank to establish a subsidiary to hold title to and administer asse…

Section 354.20 General Rule a) A state bank and its subsidiaries may take actions that are necessary to administer assets obtained in the collection of a debt, provided such actions are in conjunction with ongoing efforts to dispose of the assets by sale or liquidation. b) A stat…

Section 355.10 Definitions "Act" means the Illinois Banking Act [205 ILCS 5] as now or hereafter amended. "Bad debt" shall mean all debts due to a state bank on which interest is past due and unpaid for a period of six months or more, unless the same are well secured and in the p…

Section 355.20 Purpose Pursuant to Section 14(8) of the Act a state bank shall not pay dividends in an amount greater than its net profits then on hand without first deducting therefrom its losses and bad debts. This Part establishes guidelines for determining when an obligation …

Section 355.30 Plan for Collection A bank must have a written plan for collection of a debt setting forth the following: a) the reason for the selected method of collection; b) the procedures the bank must follow to effect the collection; and c) the expected date of repayment of …

Section 355.40 Documentation A bank must maintain in its files documentation to support its evaluation of the security for a debt (i.e. appraisal). In addition, a bank must maintain progress reports on its collection efforts, noting and explaining any deviation from the written p…

Section 356.10 General Rule for Reimbursement of Costs A bank or corporate fiduciary shall be reimbursed for costs which are reasonably necessary (including but not limited to personnel costs, reproduction costs and transportation costs) and which have been incurred in searching …

Section 356.20 Rates of Reimbursement a) Personnel costs incurred in locating, retrieving, reproducing and preparing financial records shall be reimbursed at the rate of $20 per hour per person. b) Reproduction costs incurred in making photocopies of documents shall be reimbursed…

Section 356.30 Documentation of Costs The bank or corporate fiduciary shall provide to the person requesting such records an itemized invoice indicating in specific detail the costs for: a) personnel; b) reproduction; c) transportation; and d) all other costs incurred in searchin…

Section 356.40 Payment of Costs At the bank's or corporate fiduciary's option, it may prepare one or more reasonable estimates of the ultimate reimbursement of costs associated with a search for financial records in the form prescribed in Section 356.30 of this Part and require o…

Section 357.10 Factors to be Considered a) In determining whether to allow a Bank to reduce the minimum number of its directors, the Commissioner of Banks and Real Estate ("Commissioner") shall consider the following factors in addition to those set forth in Section 16(2)(b) of t…

Section 357.20 Annual Review a) When annually reviewing a grant of authority to reduce the number of required directors, the Commissioner shall consider the following factors: 1) the performance of the Bank since the reduction in the number of required directors as determined by …

Section 360.10 Definitions For purposes of this Part: "Act" means the Pawnbroker Regulation Act of 2023 [205 ILCS 511]. "Applicant" means a person applying for a license pursuant to this Act. [205 ILCS 511/1-5] "Department" means the Department of Financial and Professional Regul…

Section 360.100 Purpose This Part sets forth: a) where required applications and notices must be filed; b) the contents of the application package; c) the locations where the application package may be obtained; d) the procedures to be followed by both the Secretary and the appli…

Section 360.110 Application for License a) A license applicant must submit all of the following: 1) An application for license filed with the Nationwide Multistate Licensing System and Registry as approved by the Secretary; 2) A listing filed with the Secretary of judgments enter…

Section 360.120 Processing of Application a) Initial Review. The Secretary shall evaluate all applications within 30 business days after receipt and acknowledge completeness, identify deficiencies, and request additional information, if necessary. A completed application is one t…

Section 360.130 Standards for Licensure a) Unless otherwise authorized by the Secretary, in order to be eligible for a license to operate a pawnshop, each applicant and principal party must: 1) if an individual, be 18 years of age or older; 2) not have been convicted of a felony …

Section 360.135 Licensing Requirements for Pawnbroker Managers (Repealed) (Source: Repealed at 41 Ill. Reg. 15771, effective December 18, 2017)

Section 360.140 Initial Applications for License from Persons Operating or Who Have Operated a Pawnshop for the Two Years Preceding July 1, 1998 a) Unless otherwise authorized by the Secretary, for persons who have operated a pawnshop at any time between July 1, 1996 through June…

Section 360.150 Change in Control or Form of Ownership, Change in Location, Change in Name of Pawnshop, Voluntary Surrender of License; Fees a) Change in Control or Form of Ownership. An application must be filed, by the acquiring party, not less than 30 days prior to the anticip…

Section 360.160 Expiration and Renewal of Licenses; Fees (Repealed) (Source: Repealed at 49 Ill. Reg. 14602, effective October 29, 2025)

Section 360.170 Display of License; Duplicate License (Repealed) (Source: Repealed at 41 Ill. Reg. 15771, effective December 18, 2017)

Section 360.180 Examination of Pawnbrokers a) All licensees shall be subject to examination by the Director. The Director may enter into cooperative agreements with other state or federal regulatory authorities and the Director may accept examination reports from those regulatory…

Section 360.20 Fees a) The following fees listed in this subsection (a) shall be payable to the Department or to the Nationwide Mortgage Licensing System and Registry for transfer to the Department as approved by the Director. The Director may specify the form of payment to the D…

Section 360.200 Purpose and Scope This Subpart sets forth the forms required to be filed by statute or rule for reports, applications, and other requests. The forms and instructions can be obtained from the Division. (Source: Amended at 35 Ill. Reg. 14957, effective September 9, …