Chapter 205, FINANCIAL REGULATION

(205 ILCS 695/35) Sec. 35. Standard of care. The intent of the General Assembly of the State of Illinois in enacting this Act is to enhance the safety of consumers using automated teller machines in the State of Illinois without discouraging the placement of automated teller mach…

(205 ILCS 5/35.1) (from Ch. 17, par. 344) Sec. 35.1. Lease limitations. In exercise of the power conferred by paragraph (14) of Section 5 of this Act to own and lease personal property, a state bank shall be subject to the following limitations and restrictions in addition to tho…

(205 ILCS 5/35.2) (from Ch. 17, par. 345) Sec. 35.2. Limitations on investments in and loans to affiliates. (a) Restrictions on transactions with affiliates. (1) A state bank and its subsidiaries may engage in a covered transaction with an affiliate, as expressly provided in this…

(205 ILCS 5/36) (from Ch. 17, par. 346) Sec. 36. Classification of loans and investments. For the determination of the character and classification of loans and investments made by state banks the substantive character of the underlying security for a loan or of the marketable in…

(205 ILCS 305/36) (from Ch. 17, par. 4437) Sec. 36. Calling of special meetings. The supervisory committee, by a majority vote, may, after written notice of its intended action is first given to the board of directors, and the Department, call a special meeting of the members to …

(205 ILCS 305/37) (from Ch. 17, par. 4438) Sec. 37. Shares and classes of shares. (1) The capital of a credit union shall consist of the payments made by members for shares of the credit union. (2) Shares may be subscribed to, paid for and transferred in such manner as the bylaws…

(205 ILCS 5/37) (from Ch. 17, par. 347) Sec. 37. Loans to officers and loans on and purchases of bank's own stock. (1) No state bank shall make any loan or extension of credit in excess of the limits, as determined by the Commissioner, at any one time outstanding each to its pres…

(205 ILCS 305/38) (from Ch. 17, par. 4439) Sec. 38. Dividends. The board of directors may declare a dividend to be paid periodically from net earnings or undivided earnings and distributed ratably among holders of share accounts of the same class as provided in the bylaws. Divide…

(205 ILCS 5/38) (from Ch. 17, par. 348) Sec. 38. Validation of loans and investments. Every loan made or obligation or security purchased or discounted in violation of the provisions of this Act shall be due and payable according to its terms and the remedy for the recovery of an…

(205 ILCS 5/39) (from Ch. 17, par. 349) Sec. 39. Directors' and officers' liability. (a) Every director or officer of a State bank, who shall violate, or participate in, or assent to a violation of Section 32, 33, 34, 35.1, or 35.2 of this Act, or who shall permit any of the offi…

(205 ILCS 305/39) (from Ch. 17, par. 4440) Sec. 39. Special purpose share accounts; charitable donation accounts. (1) If provided for in and consistent with the bylaws, Christmas clubs, vacation clubs and other special purpose share accounts may be established and offered under c…

(205 ILCS 675/4) (from Ch. 17, par. 7004) Sec. 4. Notwithstanding the provisions of any other laws in connection with revolving credit plans, any financial institution may, subject to the other provisions of this Section 4 offer and extend credit under a revolving credit plan to …

(205 ILCS 645/4) (from Ch. 17, par. 2711) Sec. 4. Application for certificate of authority; contents. A foreign banking corporation, in order to procure a certificate of authority to establish and maintain a banking office and to conduct thereat a general banking business shall m…

(205 ILCS 740/4) (was 225 ILCS 425/4) Sec. 4. No collection agency shall operate in this State, directly or indirectly engage in the business of collecting debt, solicit debt claims for others, have a sales office, a client, or solicit a client in this State, exercise the right t…

(205 ILCS 670/4) (from Ch. 17, par. 5404) Sec. 4. Investigation to determine whether license shall be issued. Upon the filing of an application and the payment of the fee, the Director shall investigate to determine (1) that the reputation of the applicant, including managers of …

(205 ILCS 405/4) (from Ch. 17, par. 4808) Sec. 4. License application; contents; fees. A licensee shall obtain a separate license for each licensed location. Application for such license shall be in writing under oath and in the form prescribed and furnished by the Secretary. Eac…

(205 ILCS 650/4) (from Ch. 17, par. 2854) Sec. 4. Application; fees. (a) The application for a license shall contain information and be accompanied by a reasonable fee as determined, by rule, by the Commissioner. (b) The Commissioner shall issue a license to a foreign bank to est…

(205 ILCS 665/4) (from Ch. 17, par. 5304) Sec. 4. Application for license. Application for a license to engage in the debt management service business in this State shall be made to the Secretary and shall be in writing, under oath, and in the form prescribed by the Secretary. Ea…

(205 ILCS 5/4) (from Ch. 17, par. 310) Sec. 4. Effect on existing banks. The certificates, permits and charters of state banks existing at the time of the adoption of this Act shall continue in full force and effect, and the provisions of this Act shall apply thereto. Any corpora…

(205 ILCS 660/4) (from Ch. 17, par. 5204) Sec. 4. After December 31, 1967, a person who is required to be licensed under this Act must display at each of his places of business, both physical and digital, a non-transferable and non-assignable license. A licensee who operates more…

(205 ILCS 625/4) (from Ch. 17, par. 2134) Sec. 4. Payable on Death Account Incidents. If one or more persons opening or holding an account sign an agreement with the institution providing that on the death of the last surviving person designated as holder the account shall be pai…

(205 ILCS 685/4) (from Ch. 17, par. 7354) Sec. 4. (a) Every financial institution shall keep a record of every currency transaction involving more than $10,000 and shall file a report with the Illinois State Police at such time and containing such information as the Director by r…

(205 ILCS 610/4) (from Ch. 17, par. 1004) Sec. 4. Effect of closing. Any day on which a bank, or any one or more of its offices, is closed during all or any part of its normal banking hours under Section 2 of this Act shall be, with respect to such bank or, if not all of its offi…

(205 ILCS 305/4) (from Ch. 17, par. 4405) Sec. 4. Amendments to articles of incorporation and bylaws. Amendments to the articles of incorporation or bylaws may be made by the members at any regular or special meeting, if the proposed amendment is set forth in the call for the mee…

(205 ILCS 605/4) (from Ch. 17, par. 504) Sec. 4. (a) Every financial institution shall offer a Basic Checking Account to any natural person 65 years of age or older who requests such an account. (b) A Basic Checking Account shall be established by either (1) a minimum initial dep…

(205 ILCS 658/4-1) Sec. 4-1. Implementation. (a) In order to carry out the purposes of this Act, the Secretary may, subject to the provisions of subsections (a) and (b) of Section 4-2: (1) enter into agreements or relationships with other government officials or federal and State…

(205 ILCS 620/4-1) (from Ch. 17, par. 1554-1) Sec. 4-1. Foreign corporate fiduciary; certificate of authority. After July 13, 1953, no foreign corporation, including banks, savings banks, and savings and loan associations, now or hereafter organized under the laws of any other st…

(205 ILCS 635/4-1) (from Ch. 17, par. 2324-1) Sec. 4-1. Commissioner of Banks and Real Estate; functions, powers, and duties. The functions, powers, and duties of the Commissioner of Banks and Real Estate shall include the following: (a) to issue or refuse to issue any license as…

(205 ILCS 635/4-1.5) Sec. 4-1.5. Residential Finance Regulatory Fund. (a) The aggregate of all moneys collected by the Secretary under this Act shall be paid promptly after receipt of the same, accompanied by a detailed statement thereof, into the State treasury and shall be set …

(205 ILCS 635/4-10) (from Ch. 17, par. 2324-10) Sec. 4-10. Rules and regulations of the Commissioner. (a) In addition to such powers as may be prescribed by this Act, the Commissioner is hereby authorized and empowered to promulgate regulations consistent with the purposes of thi…

(205 ILCS 635/4-11) (from Ch. 17, par. 2324-11) Sec. 4-11. Costs of Supervision; Examination and Investigative Fees. The expenses of administering this Act, including investigations and examinations provided for in this Act shall be borne by and assessed against entities regulate…

(205 ILCS 635/4-12) (from Ch. 17, par. 2324-12) Sec. 4-12. Appeal and Review. (a) Any person or entity affected by a decision of the Commissioner under any provision of this Act may obtain review of such decision within the Office of the Commissioner. (b) The Commissioner shall, …

(205 ILCS 635/4-13) (from Ch. 17, par. 2324-13) Sec. 4-13. Violations of this Act; Commissioner's Orders. If the Commissioner finds, as the result of examination, investigation or review of reports submitted by a licensee that the business and affairs of a licensee are not being …

(205 ILCS 635/4-14) (from Ch. 17, par. 2324-14) Sec. 4-14. Collection of fees. Unless exempt from licensure under this Act, no person engaged in or offering to engage in any act or service, for which a license under this Act is required, may bring or maintain any action in any co…

(205 ILCS 635/4-15) Sec. 4-15. Enforcement and reporting provisions. The Attorney General may enforce any violation of Section 5-6, 5-7, 5-8, 5-9, 5-10, 5-11, 5-12, 5-14, or 5-15 of this Act as an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. (S…

(205 ILCS 635/4-16) Sec. 4-16. Private right of action. A borrower injured by a violation of the standards, duties, prohibitions, or requirements of Sections 5-6, 5-7, 5-8, 5-9, 5-10, 5-11, 5-12, 5-14, 5-15, and 5-16 of this Act shall have a private right of action. (a) A license…

(205 ILCS 620/4-2) (from Ch. 17, par. 1554-2) Sec. 4-2. Foreign corporation; eligibility. Any foreign corporation may act in this State as trustee, executor, administrator, administrator to collect, guardian, or in any other like fiduciary capacity, whether the appointment is by …

(205 ILCS 658/4-2) Sec. 4-2. Confidentiality. (a) Except as otherwise provided in this Section, all information or reports obtained by the Secretary from an applicant, licensee, or authorized delegate, and all information contained in or related to an examination, investigation, …

(205 ILCS 635/4-2) (from Ch. 17, par. 2324-2) Sec. 4-2. Examination; prohibited activities. (a) The business affairs of a licensee under this Act shall be examined for compliance with this Act as often as the Secretary deems necessary and proper. The Secretary shall promulgate ru…

(205 ILCS 620/4-3) (from Ch. 17, par. 1554-3) Sec. 4-3. Service of process upon Secretary of State. Any foreign corporation acting in this State in a fiduciary capacity pursuant to the provisions of Article IV and Article IVA of this Act shall be deemed to have appointed the Secr…

(205 ILCS 658/4-3) Sec. 4-3. Supervision. (a) The Secretary may conduct an examination or investigation of a licensee or authorized delegate or otherwise take independent action authorized by this Act or by a rule adopted or order issued under this Act as reasonably necessary or …

(205 ILCS 635/4-3) (from Ch. 17, par. 2324-3) Sec. 4-3. Subpoena power of the Commissioner. (a) The Commissioner shall have the power to issue and to serve subpoenas and subpoenas duces tecum to compel the attendance of witnesses and the production of all books, accounts, records…

(205 ILCS 635/4-4) (from Ch. 17, par. 2324-4) Sec. 4-4. Report Required of Licensee; False Statements; Delay; Penalties.(a) In addition to any reports required under this Act, every licensee shall file such other reports as the Commissioner shall request. (b) Any licensee or any …

(205 ILCS 620/4-4) (from Ch. 17, par. 1554-4) Sec. 4-4. Place of business not to be established in State; not deemed transacting business. (a) A foreign corporation, as defined in Section 1-5.08 of this Act, shall not establish in this State a place of business, branch office, or…

(205 ILCS 658/4-4) Sec. 4-4. Networked supervision. (a) To efficiently and effectively administer and enforce this Act and to minimize regulatory burden, the Secretary is authorized and encouraged to participate in multistate supervisory processes established between states and c…

(205 ILCS 620/4-5) (from Ch. 17, par. 1554-5) Sec. 4-5. Certificate of authority; fees; certificate of reciprocity. (a) Prior to the time any foreign corporation acts in this State as testamentary trustee, trustee appointed by any court, trustee under any written agreement, decla…

(205 ILCS 658/4-5) Sec. 4-5. Relationship to federal law. (a) If state money transmission jurisdiction is conditioned on a federal law, any inconsistencies between a provision of this Act and the federal law governing money transmission shall be governed by the applicable federal…

(205 ILCS 635/4-5) (from Ch. 17, par. 2324-5) Sec. 4-5. Suspension, revocation of licenses; fines. (a) Upon written notice to a licensee, the Commissioner may suspend or revoke any license issued pursuant to this Act if he or she shall make a finding of one or more of the followi…

(205 ILCS 635/4-6) (from Ch. 17, par. 2324-6) Sec. 4-6. Investigation of Complaints. The Commissioner shall at all times maintain staff and facilities adequate to receive, record and investigate complaints and inquiries made by any person concerning this Act and any licensees und…

(205 ILCS 635/4-7) Sec. 4-7. Additional investigation and examination authority. In addition to any authority allowed under this Act, the Director shall have the authority to conduct investigations and examinations as follows: (a) For purposes of initial licensing, license renewa…