Chapter 205 — FINANCIAL REGULATION

(205 ILCS 5/68) (from Ch. 17, par. 380) Sec. 68. Voluntary dissolution. A state bank may elect to dissolve voluntarily and wind up its affairs by the act of the bank in the following manner: (1) The board of directors shall adopt a resolution recommending that the bank be dissolv…

(205 ILCS 5/69) (from Ch. 17, par. 381) Sec. 69. Voluntary dissolution; deposit with Commissioner. If any of the liabilities of the dissolving state bank as shown by its records which have been assumed by another bank are not presented or are not satisfied within one year from th…

(205 ILCS 5/7) (from Ch. 17, par. 314) Sec. 7. Organization capital requirements. A bank may be organized to exercise the powers conferred by this Act with minimum capital and surplus as determined by the Commissioner. (Source: P.A. 92-483, eff. 8-23-01.)

(205 ILCS 5/70) (from Ch. 17, par. 382) Sec. 70. Voluntary dissolution; Commissioner's payments. The Commissioner shall hold and pay out sums deposited with him either by the dissolving state bank or by the assuming bank in payment of the liabilities of the dissolving bank's liab…

(205 ILCS 5/71) (from Ch. 17, par. 383) Sec. 71. Voluntary dissolution; fees and expenses. (a) Any bank that elects to dissolve voluntarily under this Act shall pay to the Secretary a fee, which shall be paid upon the Secretary's receipt of the bank's statement of intent. The Sec…

(205 ILCS 5/72) (from Ch. 17, par. 384) Sec. 72. Voluntary dissolution; dissolving bank. Upon and after the day on which the publication provided for in Section 68(8) was first made: (1) The dissolving bank shall cease to carry on its business, except insofar as may be necessary …

(205 ILCS 5/73) (from Ch. 17, par. 385) Sec. 73. Voluntary dissolution; limitation on claims. The publication by the Commissioner of a resolution for dissolution shall not impair any right of a depositor or creditor to payment in full of his lawful claims nor impair any right or …

(205 ILCS 5/74) (from Ch. 17, par. 386) Sec. 74. Voluntary dissolution; termination of charter. Upon being satisfied that the affairs of a state bank have been wound up pursuant to a resolution of dissolution and after 6 years from the first day on which publication of a resoluti…

(205 ILCS 5/74.5) Sec. 74.5. Voluntary dissolution of less active bank. Upon being satisfied that the affairs of a State bank that had originally transferred substantially all its assets and liabilities pursuant to Section 13 of this Act have been wound up, and that the bank has …

(205 ILCS 5/75) (from Ch. 17, par. 387) Sec. 75. Separability. If any provision, clause or phrase of this Act or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or application of this Act which can be given…

(205 ILCS 5/76) (from Ch. 17, par. 388) Sec. 76. Effective Date. The Secretary of State for this State shall submit this Act to a vote of the people for their approval in accordance with Section 5 of Article XI of the Constitution of this State at the next general election. In ac…

(205 ILCS 5/77) (from Ch. 17, par. 389) Sec. 77. Repealer. (1) "An Act to revise the law with relation to banks and banking" approved June 23, 1919, and all Acts amendatory thereof are hereby repealed as of the date this Act becomes effective. (2) "An Act concerning civil actions…

(205 ILCS 5/78) (from Ch. 17, par. 390) Sec. 78. Board of banks and trust companies; creation, members, appointment. There is created a Board which shall be known as the State Banking Board of Illinois which shall consist of the Director of Banking, who shall be its chairman, and…

(205 ILCS 5/79) (from Ch. 17, par. 391) Sec. 79. Board, terms of office. The terms of office of the State Banking Board of Illinois shall be 4 years, except that the initial Board appointments shall be staggered with the Governor initially appointing, with advice and consent of t…

(205 ILCS 5/8) (from Ch. 17, par. 315) Sec. 8. Incorporators. A State bank may be organized on application by 5 or more incorporators who shall be individuals except that a bank holding company may be the sole incorporator of a State bank. (Source: P.A. 92-483, eff. 8-23-01.)

(205 ILCS 5/80) (from Ch. 17, par. 392) Sec. 80. Board; powers. The Board shall have the following powers in addition to any others that may be granted to it by law: (a) (Blank). (b) To review, consider, and make recommendations to the Director of Banking upon any banking matters…

(205 ILCS 5/81) (from Ch. 17, par. 393) Sec. 81. Board; compensation. No member of the Board, including the chairman, shall receive any compensation for services on the Board but shall be reimbursed for ordinary and necessary expenses incurred in attending meetings of the Board. …

(205 ILCS 5/82) (from Ch. 17, par. 394) Sec. 82. Commissioner, board; civil liability. Neither the Secretary, Director of Banking, any member of the State Banking Board of Illinois, nor any examiner, assistant examiner or other employee of the Division of Banking shall be subject…

(205 ILCS 5/83) Sec. 83. Compliance review. (a) As used in this Section: "Affiliate" means a corporation whose stock is at least 80% owned by the depository institution or a corporation that directly or indirectly owns at least 80% of the depository institution. "Depository insti…

(205 ILCS 5/9) (from Ch. 17, par. 316) Sec. 9. Contents of application. The application for a permit to organize shall be in a form specified by the Commissioner and shall be filed with the Commissioner signed by each of the applicants and shall be acknowledged before some office…

(205 ILCS 5/9.5) Sec. 9.5. Reservation of corporate name. Upon the filing of an application for a permit to organize, an applicant may request that the Commissioner reserve the name of the proposed bank. The reservation shall be made by filing with the Commissioner an application…

(205 ILCS 10/1) (from Ch. 17, par. 2501) Sec. 1. It is held to be in the public interest that competition prevail in the banking system, and that banking services be expanded, and to those ends that bank holding companies be permitted to operate within this State, but that the in…

(205 ILCS 10/2) Sec. 2. Unless the context requires otherwise: (a) "Bank" means any national banking association or any bank, banking association or savings bank, whether organized under the laws of Illinois, another state, the United States, the District of Columbia, any territo…

(205 ILCS 10/3.02) (from Ch. 17, par. 2505) Sec. 3.02. Unlawful acts; exceptions. (a) Except as otherwise provided in this Act, it shall be unlawful: (1) for any action to be taken that causes any company to become a bank holding company as defined in this Act with respect to any…

(205 ILCS 10/3.05) (from Ch. 17, par. 2508) Sec. 3.05. (Repealed). (Source: Repealed by P.A. 88-546.)

(205 ILCS 10/3.06) (from Ch. 17, par. 2509) Sec. 3.06. (Repealed). (Source: Repealed by P.A. 88-546.)

(205 ILCS 10/3.061) (from Ch. 17, par. 2509.01) Sec. 3.061. Any bank holding company which was registered with the Federal Reserve Board as a bank holding company as of December 31, 1981, and as of that date lawfully owned or controlled at least two Illinois banks or any Illinois…

(205 ILCS 10/3.07) (from Ch. 17, par. 2510) Sec. 3.07. Except as authorized under Section 3.061 of this Act, no bank holding company other than an Illinois bank holding company, may control any Illinois bank or own more than 5% of the voting shares of any Illinois bank, unless: (…

(205 ILCS 10/3.071) (from Ch. 17, par. 2510.01) Sec. 3.071. Out of state bank holding companies. (a) An out of state bank holding company may acquire ownership of more than 5% of the voting shares of or control of one or more Illinois banks or Illinois bank holding companies purs…

(205 ILCS 10/3.072) (from Ch. 17, par. 2510.02) Sec. 3.072. The Commissioner shall have the authority to examine an out of state bank holding company which has an application pending under paragraph (2) of subsection (a) of Section 3.071 and all of its bank subsidiaries and any o…

(205 ILCS 10/3.073) (from Ch. 17, par. 2510.03) Sec. 3.073. (Repealed). (Source: P.A. 84-1123. Repealed by P.A. 89-208, eff. 9-29-95.)

(205 ILCS 10/3.074) Sec. 3.074. Powers; administrative review. (a) The Secretary shall have the power and authority: (1) to promulgate reasonable rules for the purposes of administering the provisions of this Act. The Secretary shall specify the form of any application, report or…

(205 ILCS 10/3.075) Sec. 3.075. Reliance on Commissioner. No bank holding company or other person shall be liable under this Act for any act done or omitted in good faith in conformity with any rule, interpretation, or opinion issued by the Commissioner of Banks and Real Estate, …

(205 ILCS 10/3.08) (from Ch. 17, par. 2510a) Sec. 3.08. Acquisition of trust companies. Any bank holding company may own, acquire or control, directly or indirectly, a corporation which has been or shall be incorporated under the general corporation laws of this State for the pur…

(205 ILCS 10/3.09) Sec. 3.09. Acquisition; deposit concentration limits. (a) Except as otherwise expressly provided in this Section, no bank holding company shall acquire control of, or acquire all or substantially all of the assets of a State bank or a national bank whose main b…

(205 ILCS 10/3.1) (from Ch. 17, par. 2510.1) Sec. 3.1. The Commissioner may appoint a suitable person or persons to make an examination of the affairs of any company that directly or indirectly owns or controls 25% or more of the voting shares of a State bank. A person so appoint…

(205 ILCS 10/3.10) Sec. 3.10. Non-English language transactions. A bank holding company 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 10/5) (from Ch. 17, par. 2512) Sec. 5. Partial invalidity. If any provision of this Act, or the application of such provision to any person or circumstances, shall be held invalid, the remainder of the Act and the application of such provision to persons or circumstance…

(205 ILCS 10/7) (from Ch. 17, par. 2513) Sec. 7. This Act may be cited as the Illinois Bank Holding Company Act of 1957. (Source: P.A. 86-1475.)

(205 ILCS 115/0.01) (from Ch. 17, par. 3600) Sec. 0.01. Short title. This Act may be cited as the Savings and Loan Share and Account Act. (Source: P.A. 86-1324.)

(205 ILCS 115/1) (from Ch. 17, par. 3601) Sec. 1. Any savings and loan or Federal savings and loan association may issue shares, share accounts or accounts to individuals, irrespective of age or marital status, each in their own right. Any payment or delivery of rights to any ind…

(205 ILCS 115/2) (from Ch. 17, par. 3602) Sec. 2. Any savings and loan or Federal savings and loan association may issue shares, share accounts or accounts in the joint names of two or more persons or their survivor, in which event any of such persons shall have power to act in a…

(205 ILCS 115/3) (from Ch. 17, par. 3603) Sec. 3. Any savings and loan or Federal savings and loan association may issue shares, share accounts or accounts in the name of any administrator, executor, guardian, trustee or other fiduciary, in trust for a named beneficiary or benefi…

(205 ILCS 205/10001) Sec. 10001. (Repealed). (Source: P.A. 92-483, eff. 8-23-01. Repealed by P.A. 96-1365, eff. 7-28-10.)

(205 ILCS 205/10002) Sec. 10002. (Repealed). (Source: P.A. 90-301, eff. 8-1-97. Repealed by P.A. 96-1365, eff. 7-28-10.)

(205 ILCS 205/10003) Sec. 10003. (Repealed). (Source: P.A. 86-1213. Repealed by P.A. 96-1365, eff. 7-28-10.)

(205 ILCS 205/10004) Sec. 10004. (Repealed). (Source: P.A. 90-301, eff. 8-1-97. Repealed by P.A. 96-1365, eff. 7-28-10.)

(205 ILCS 205/10005) Sec. 10005. (Repealed). (Source: P.A. 86-1213. Repealed by P.A. 96-1365, eff. 7-28-10.)

(205 ILCS 205/10006) Sec. 10006. (Repealed). (Source: P.A. 86-1213. Repealed by P.A. 96-1365, eff. 7-28-10.)

(205 ILCS 205/10007) Sec. 10007. (Repealed). (Source: P.A. 86-1213. Repealed by P.A. 96-1365, eff. 7-28-10.)