Illinois Administrative Code

Section 1075.2460 Proxy Statement – Attachments There shall be attached to the proxy statement distributed to members and others a copy of the applicant's plan of conversion as approved by the Director unless the proxy statement contains a provision indicating that the plan of co…

Section 1075.2500 Offering Circular An offering circular shall conform to the requirements of Sections 1075.2500 through 1075.2580. (Source: Added at 17 Ill. Reg. 8894, effective June 7, 1993)

Section 1075.2510 Offering Circular – Certain Manner of Presentation of Required Information Prohibited The information required in an offering circular shall not be set forth in such fashion as to obscure any of the required information or any information necessary to keep the r…

Section 1075.2520 Offering Circular – Certain Named Persons – Filing of Written Consent Required If any person who has not signed an application is named in the offering circular as about to become an organization director, the written consent of this person shall be filed with t…

Section 1075.2530 Offering Circular – Information Required a) The offering circular shall be dated as of the date of its issuance. The offering circular shall contain substantially the same information required to be included in the proxy statement of the applicant distributed to…

Section 1075.2540 Offering Circular – Additional Current Information Required Each offering circular shall, as of its respective dates of issuance, include, to the extent available, the following additional current information to the extent that such information is not already in…

Section 1075.2550 Offering Circular – Statement Required in Offering Circulars There shall be set forth on the outside cover page of every offering circular the following statement in capital letters printed in bold-face Roman type at least as large as 10-point modern type and at…

Section 1075.2560 Offering Circular – Preliminary Offering Circular The outside front cover page of any preliminary offering circular shall bear, in red ink, the caption "Preliminary Offering Circular", the date of its issuance, and the following statement printed in type as larg…

Section 1075.2570 Offering Circular – Information with Respect to Exercise of Subscription Rights Any offering circular which is required to be delivered to subscribers shall describe all material terms of the offering relating to the exercise of subscription rights to the extent…

Section 1075.2580 Offering Circular – Information with Respect to Public Offering or Direct Community Offering Each offering circular shall describe the material terms of the plan or plans of distribution for all unsubscribed shares of capital stock to the extent the description …

Section 1075.300 Contracts a) Except employment contracts, loans on savings accounts, or contracts with consideration of less than $25,000, a savings bank shall file with the Director, within 10 days after the contract's execution, a copy of any contract with the following: 1) an…

Section 1075.3000 Definitions (Repealed) (Source: Repealed at 41 Ill. Reg. 11336, effective August 28, 2017)

Section 1075.310 Financial Reports Each savings bank shall file quarterly financial reports on forms prescribed by the Director. Such reports shall be delivered to the Director by the last day of the month following the quarter end for which the report applies. Any savings bank t…

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…