Illinois Administrative Code

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 365.10 Purpose and Scope This Part applies to all banks chartered under provisions of the Illinois Banking Act [205 ILCS 5].

Section 365.20 Definitions "Bank" means a state-chartered bank chartered under the provisions of the Illinois Banking Act [205 ILCS 5]. "Department" means the Illinois Department of Financial and Professional Regulation. "Division" means the Illinois Department of Financial and P…

Section 365.30 Applicability of Rule This Part shall apply only to payday loans made by a bank. Products and services offered by a bank that are not offered by lenders governed by the PLRA shall not be subject to this Part.

Section 365.40 Issuance of Payday Loans by Banks a) A bank making a payday loan shall satisfactorily address all safety and soundness considerations identified by the Division in its examination and supervision of the bank. Safety and soundness considerations include, without lim…

Section 370.10 Purpose and Scope This Part prescribes certain fee schedules and guidelines for the processing of corporate applications required by the Illinois Banking Act [205 ILCS 5], the Corporate Fiduciary Act [205 ILCS 620], the Foreign Banking Office Act [205 ILCS 645], th…

Section 370.20 Definitions "Act" means the Illinois Banking Act [205 ILCS 5]. "Department" means the Department of Financial and Professional Regulation. "Division" means the Department of Financial and Professional Regulation- Division of Banking with the authority delegated by …

Section 370.30 Fee Schedule; Administration of Corporate Application Fees a) Fees shall be submitted to the Division at the time of submission of any application or notice. All fees filed in connection with an application or notice are nonrefundable, regardless of whether the app…

Section 370.40 Special Examinations or Investigations a) Applications and notices submitted to the Director are subject to a special investigation or examination as considered necessary, in the Director's discretion, in order to make an informed decision regarding the application…

Section 370.50 Forms a) Forms and instructions for submitting applications and notices may be obtained from the Department's website or by contacting the Division's Corporate Activities Section. Information that is required by another regulatory authority that is also needed as p…

Section 370.60 Request for Confidential Treatment a) Under the provisions of the Illinois Freedom of Information Act [5 ILCS 140], an application or notice filed with the Division is considered a public document and available to the public upon request. b) If the applicant is of …

Section 370.70 Processing of Applications or Notices; Acceptance; Abandonment a) On or before the 15th business day after initial submission of an application, the Director shall issue a written notice informing the applicant either that the application is complete and accepted f…

Section 375.10 Purpose This Part sets forth the manner in which the Office of Banks and Real Estate shall calculate, assess and collect Call Report Fees, Electronic Data Processing Fees, Foreign Bank Representative Office Regulatory Fees, and Corporate Fiduciary Regulatory Fees p…

Section 375.20 Definitions "Call Report Fee" means the fee to be paid to the Commissioner by each state bank pursuant to Section 48(3)(a) of the Act. "Commissioner" means the Commissioner of the Office of Banks and Real Estate or a person authorized by the Commissioner to act in …

Section 375.30 Call Report Fees (Repealed) (Source: Repealed at 41 Ill. Reg. 15093, effective December 15, 2017)

Section 375.31 Electronic Data Processing Fee Each state bank shall pay to the Commissioner an Electronic Data Processing (EDP) Fee equal to 16% of the state bank's Call Report Fee. The EDP Fee shall be calculated by the Commissioner and billed to state banks for remittance with …

Section 375.32 Assessment of 3, 4, or 5 Rated State Banks If a state bank has received a Uniform Financial Institution Rating System (UFIRS) composite rating of 3, 4, or 5 on its last state or federal examination, the state bank's total quarterly fee shall be increased by 25% for…

Section 375.33 Foreign Banking Office Minimum Quarterly Fee The minimum quarterly fee for a foreign banking office holding a certificate of authority pursuant to the Foreign Banking Office Act [205 ILCS 645] shall be $2,500. (Source: Amended at 27 Ill. Reg. 487, effective Decembe…

Section 375.34 Corporate Fiduciary Regulatory Fees a) Each corporate fiduciary shall pay to the Commissioner a Corporate Fiduciary Regulatory Fee that shall be paid in quarterly installments equal to one-fourth of the sum of an annual fixed fee plus a variable exam-day fee. b) Th…

Section 375.36 Foreign Bank Representative Office Regulatory Fees a) An applicant for a foreign bank representative office license shall submit a completed application, in a form prescribed by the Commissioner, along with an application fee of $700. b) The Commissioner shall annu…

Section 375.40 Calculation of Call Report and Electronic Data Processing Fees for Resulting State Banks a) When a state bank results from a conversion by any financial institution other than a state bank and no statement of condition for such resulting state bank for the precedin…

Section 375.41 Calculation of Corporate Fiduciary Regulatory Fees for Resulting Corporate Fiduciaries When a corporate fiduciary results from a merger of one or more financial institutions into the resulting corporate fiduciary, the Corporate Fiduciary Regulatory Fee shall be cal…

Section 375.50 Assessment of Accrued Fees Against a Converting or Merging State Bank When a state bank converts to a national bank, merges into a resulting national bank, dissolves, surrenders its certificate of authority or in any other manner ceases to be a state bank, such sta…

Section 375.51 Assessment of Accrued Fees Against a Corporate Fiduciary When a corporate fiduciary surrenders its certificate of authority, that corporate fiduciary shall be liable on a pro rata basis to the Commissioner for the accumulated Corporate Fiduciary Regulatory Fee up t…

Section 375.60 Credits and Additional Assessments Not Applicable to Resulting National Banks A financial institution other than a state bank that results from a conversion by, or merger with, a state bank shall not be eligible for any credit and shall not be liable for any additi…

Section 375.70 Payment by Electronic Transfer or Automatic Debit Payment of all fees assessed by the Commissioner pursuant to Section 48(3) of the Act [205 ILCS 5/48(3)], Section 17 of the Foreign Banking Office Act [205 ILCS 645/17], and Section 5-10 of the Corporate Fiduciary A…

Section 380.10 Purpose The applicable Act, as defined in Section 380.20, requires the Secretary to examine, at least once within each time period specified in the applicable Act, the affairs of every state bank, as defined in Section 380.20, except that an examination conducted b…

Section 380.20 Definitions "Applicable Act" means Section 48(2)(a) of the Illinois Banking Act (IBA) [205 ILCS 5] in the case of state banks chartered under the IBA, and also means Section 9004 of the Savings Bank Act (SBA) [205 ILCS 205] in the case of a savings bank chartered u…

Section 380.30 General Rule (Repealed) (Source: Repealed at 21 Ill. Reg. 8380, effective June 24, 1997)

Section 381.10 Authority and Purpose Section 48(2.1) of the Illinois Banking Act [205 ILCS 5] and Section 9004(f) of the Illinois Savings Bank Act [205 ILCS 205] require the Secretary of the Department of Financial and Professional Regulation to adopt rules that ensure consistenc…

Section 381.20 Definitions Unless specified otherwise in this Part, the following terms shall have the following meanings: "Bank" means, for purposes of this Part only, a State bank chartered under the Illinois Banking Act or a savings bank chartered under the Illinois Savings Ba…