Chapter 205, FINANCIAL REGULATION

(205 ILCS 731/1-1) Sec. 1-1. Short title. This Act may be cited as the Digital Assets and Consumer Protection Act. (Source: P.A. 104-428, eff. 8-18-25.)

(205 ILCS 731/1-10) Sec. 1-10. Applicability. (a) This Act governs the digital asset business activity of a person doing business in this State or, wherever located, who engages in or holds itself out as engaging in the activity with or on behalf of a resident, to the extent not …

(205 ILCS 731/1-15) Sec. 1-15. General powers and duties. (a) The Department shall regulate digital asset business activity in this State, unless it is exempt pursuant to Section 1-10. To the extent permissible under federal law, the Department shall exercise nonexclusive oversig…

(205 ILCS 731/1-20) Sec. 1-20. Funds. (a) All moneys collected or received by the Department under this Act shall be deposited into the Consumer Protection Fund, which is hereby created as a special fund in the State treasury. The amounts deposited into the Consumer Protection Fu…

(205 ILCS 731/1-5) Sec. 1-5. Definitions. (a) As used in this Act: "Affiliate" means any person that controls, is controlled by, or is under common control with another person. For purposes of this definition, "control" means the possession, direct or indirect, of the power to di…

(205 ILCS 205/1001) (from Ch. 17, par. 7301-1) Sec. 1001. This Act may be cited as the Savings Bank Act. (Source: P.A. 86-1213.)

(205 ILCS 205/1001.5) Sec. 1001.5. References to Office or Commissioner of Banks and Real Estate. On and after the effective date of this amendatory Act of the 94th General Assembly, unless the context requires otherwise: (1) References in this Act to the Office of Banks and Real…

(205 ILCS 205/1002) (from Ch. 17, par. 7301-2) Sec. 1002. Policy and purpose. The purpose of this Act is to provide for the chartering, regulation, and corporate governance of savings banks. The policy of this Act is to encourage growth of the personal savings base of the citizen…

(205 ILCS 205/1003) (from Ch. 17, par. 7301-3) Sec. 1003. Administration. This Act shall be administered by the Commissioner as provided in the Division of Banking Act. (Source: P.A. 96-1365, eff. 7-28-10.)

(205 ILCS 205/1004) (from Ch. 17, par. 7301-4) Sec. 1004. Applicability. (a) This Act shall apply to all financial institutions no matter how named or chartered, if they comply with the provisions of this Act and with the rules of the Commissioner promulgated pursuant to this Act…

(205 ILCS 205/1005) (from Ch. 17, par. 7301-5) Sec. 1005. Insurance of accounts. Each savings bank operating under this Act must secure insurance of its deposit accounts backed by the full faith and credit of the United States government prior to commencing business and may, subj…

(205 ILCS 205/1006) (from Ch. 17, par. 7301-6) Sec. 1006. Parity. (a) Subject to the regulation of the Commissioner and in addition to the powers granted by this Act, each savings bank operating under this Act shall possess those powers granted by regulation promulgated under the…

(205 ILCS 205/1006.05) Sec. 1006.05. Out-of-state savings banks establishing branches. (a) No out-of-state savings bank whose main banking premises is located in a state other than Illinois shall establish a branch in this State, other than a branch authorized pursuant to any oth…

(205 ILCS 205/1006.10) Sec. 1006.10. Prohibition against establishment of offices or branches on or adjacent to the premises of certain affiliates. (a) For purposes of this Section: "Affiliate" has the meaning ascribed to that term in item (1) of subsection (b) of Section 35.2 of…

(205 ILCS 205/1007) (from Ch. 17, par. 7301-7) Sec. 1007. Definitions. Unless the context otherwise requires, as used in this Act, the terms defined in the Sections following this Section and preceding Section 1008 shall have the meanings therein given. (Source: P.A. 86-1213.)…

(205 ILCS 205/1007.05) (from Ch. 17, par. 7301-7.05) Sec. 1007.05. "Affiliate" means any company that controls, is controlled by, or is under common control with a savings bank operating under this Act. The term "affiliated person of a savings bank or insured institution" means t…

(205 ILCS 205/1007.10) (from Ch. 17, par. 7301-7.10) Sec. 1007.10. "Appraisal" means a professionally derived written conclusion of the value of the present worth of specified interests or rights in a specific piece of real property, which conclusion is supported by stipulated ma…

(205 ILCS 205/1007.105) (from Ch. 17, par. 7301-7.105) Sec. 1007.105. "Service corporation" means any corporation or limited liability company that is 51% or more owned by one or more savings banks, or by savings banks and other depository institutions, whose purposes are reasona…

(205 ILCS 205/1007.110) (from Ch. 17, par. 7301-7.110) Sec. 1007.110. "Value" means the present worth of all rights to future benefits arising from ownership. (Source: P.A. 86-1213.)

(205 ILCS 205/1007.115) Sec. 1007.115. Federal association. "Federal association" means a savings and loan association or savings bank incorporated under the federal Home Owners Loan Act of 1993, as now or hereafter amended, whose principal business office is located within this …

(205 ILCS 205/1007.120) Sec. 1007.120. Affiliate facility. "Affiliate facility" of a savings bank means a depository institution main office or branch office of an affiliate depository institution. The depository institution main office or branch office may be an affiliate facili…

(205 ILCS 205/1007.125) Sec. 1007.125. "Bylaws" means the bylaws of a savings bank that are adopted by the savings bank's board of directors or shareholders for the regulation and management of the savings bank's affairs. If the savings bank operates as a limited liability compan…

(205 ILCS 205/1007.130) Sec. 1007.130. Out-of-state savings bank. "Out-of-state savings bank" means a savings bank or an association chartered under the laws of a state other than Illinois, a territory of the United States, or the District of Columbia. (Source: P.A. 98-1081, eff.…

(205 ILCS 205/1007.135) Sec. 1007.135. Secretary of the Department of Financial and Professional Regulation. "Secretary" means the Secretary of the Department of Financial and Professional Regulation, or a person authorized by the Secretary or by this Act to act in the Secretary'…

(205 ILCS 205/1007.15) (from Ch. 17, par. 7301-7.15) Sec. 1007.15. "Bank" means a commercial bank chartered by the Comptroller of the Currency or by the Illinois Commissioner of Banks and Real Estate under the Illinois Banking Act. (Source: P.A. 89-508, eff. 7-3-96.)

(205 ILCS 205/1007.150) Sec. 1007.150. Applicability of other Acts. Whenever the term "savings and loan", "building and loan", "mutual building loan and homestead", or "building loan and homestead" or other similar name is used with reference to an association organized for the p…

(205 ILCS 205/1007.20) (from Ch. 17, par. 7301-7.20) Sec. 1007.20. "Branch" or "branch office" includes any location established by a savings bank where deposits are received, loans are made, or checks are paid, but shall not include any place where only records thereof are made,…

(205 ILCS 205/1007.25) (from Ch. 17, par. 7301-7.25) Sec. 1007.25. "Capital" includes net worth, paid-in-surplus, capital stock equity, undivided profits, and earnings, as further defined in Section 5002. (Source: P.A. 86-1213.)

(205 ILCS 205/1007.30) (from Ch. 17, par. 7301-7.30) Sec. 1007.30. "Commissioner" means the Secretary of Financial and Professional Regulation or a person authorized by the Secretary, the Division of Banking Act, or this Act to act in the Secretary's stead. (Source: P.A. 96-1365,…

(205 ILCS 205/1007.35) (from Ch. 17, par. 7301-7.35) Sec. 1007.35. "Control", unless specified otherwise in this Act, shall mean: (1) the ability of any person, entity, persons, or entities acting alone or in concert with one or more persons or entities, to own, hold, or direct w…

(205 ILCS 205/1007.40) (from Ch. 17, par. 7301-7.40) Sec. 1007.40. "Default" and "in danger of default" shall have the respective meanings ascribed to these terms in the Illinois Banking Act. (Source: P.A. 86-1213.)

(205 ILCS 205/1007.45) (from Ch. 17, par. 7301-7.45) Sec. 1007.45. "Deposit insurance corporation" means the Federal Deposit Insurance Corporation or other instrumentality of or corporation chartered by the United States that is supported by the "Full faith and credit of the Unit…

(205 ILCS 205/1007.50) (from Ch. 17, par. 7301-7.50) Sec. 1007.50. "Depository institution", as used in this Act, shall mean an insured depository institution as defined by Section 3(c)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1813), as amended, or an insured credit uni…

(205 ILCS 205/1007.55) (from Ch. 17, par. 7301-7.55) Sec. 1007.55. "Director" means any director, trustee, or other person performing similar functions with respect to any organization whether incorporated or unincorporated. In the case of a manager-managed limited liability comp…

(205 ILCS 205/1007.57) Sec. 1007.57. Division. "Division" means the Division of Banking within the Department of Financial and Professional Regulation. (Source: P.A. 96-1365, eff. 7-28-10.)

(205 ILCS 205/1007.60) (from Ch. 17, par. 7301-7.60) Sec. 1007.60. "Eligible insured bank" means an insured bank, having its main banking premises in Illinois, that is in default or in danger of default as those terms are defined in this Act. (Source: P.A. 86-1213.)

(205 ILCS 205/1007.65) (from Ch. 17, par. 7301-7.65) Sec. 1007.65. "Fiduciary" means a trustee, executor, administrator, guardian, agent, receiver, trustee in bankruptcy, assignee for creditors, or any holder of a similar position of trust. It also describes the relationship of a…

(205 ILCS 205/1007.75) (from Ch. 17, par. 7301-7.75) Sec. 1007.75. "Insured savings bank" means a savings bank the accounts of which are insured wholly or in part by a deposit insurance corporation. (Source: P.A. 86-1213.)

(205 ILCS 205/1007.80) (from Ch. 17, par. 7301-7.80) Sec. 1007.80. "Investment" means loans, both residential and commercial, as well as purchases of corporate debentures, securities, bonds, joint venture shares, and purchases of mutual fund shares subject to regulation of the Co…

(205 ILCS 205/1007.85) (from Ch. 17, par. 7301-7.85) Sec. 1007.85. "Marketable investment securities" means investment grade marketable obligations evidencing indebtedness of any person in the form of bonds, notes, or debentures, commonly known as investment securities, of a type…

(205 ILCS 205/1007.90) (from Ch. 17, par. 7301-7.90) Sec. 1007.90. "Person" means an individual, corporation, limited liability company, partnership, joint venture, trust, estate, or unincorporated association. (Source: P.A. 91-929, eff. 12-15-00.)

(205 ILCS 205/1007.95) (from Ch. 17, par. 7301-7.95) Sec. 1007.95. "Prudent person rule" means that in all activities connected with savings banks operating under this Act, all officers, directors, employees, and agents of any kind of a savings bank must exercise the judgment and…

(205 ILCS 205/1008) (from Ch. 17, par. 7301-8) Sec. 1008. General corporate powers. (a) A savings bank operating under this Act shall be a body corporate and politic and shall have all of the powers conferred by this Act including, but not limited to, the following powers: (1) To…

(205 ILCS 205/1008.05) Sec. 1008.05. Non-English language transactions. A savings bank may conduct transactions in a language other than English through an employee or agent acting as interpreter or through an interpreter provided by the customer. (Source: P.A. 92-578, eff. 6-26-…

(205 ILCS 205/1009) (from Ch. 17, par. 7301-9) Sec. 1009. Status as IRS qualified thrift lender. All savings banks operating under this Act must qualify for either the 60% asset test of Section 7701 (a)(19) of the Internal Revenue Code of 1986 and any amendments thereto or an ass…

(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 205/2001.05) (from Ch. 17, par. 7302-1.05) Sec. 2001.05. "Savings bank holding company" means any company that directly or indirectly or acting in concert with one or more other persons or through one or more subsidiaries, owns, controls, or holds with power to vote, or…

(205 ILCS 205/2001.10) (from Ch. 17, par. 7302-1.10) Sec. 2001.10. An "Illinois savings bank holding company" means a savings bank holding company whose principal place of business is in Illinois and that is not controlled, directly or indirectly, by another savings bank holding …

(205 ILCS 205/2001.15) (from Ch. 17, par. 7302-1.15) Sec. 2001.15. An "out-of-state savings bank holding company" means a savings bank holding company whose principal place of business is in a state other than Illinois and that is not controlled, directly or indirectly, by anothe…

(205 ILCS 205/2001.20) (from Ch. 17, par. 7302-1.20) Sec. 2001.20. "Geographic Area" means those states in which a savings bank holding company is permitted to acquire an Illinois savings bank or an Illinois savings bank holding company. (Source: P.A. 86-1213.)