Chapter 205, FINANCIAL REGULATION

(205 ILCS 305/48) (from Ch. 17, par. 4449) Sec. 48. Loan limit. Within any limitations set forth in a policy adopted by the board of directors, a credit union may place a limit upon the aggregate amount to be loaned to or cosigned for by any one member provided that no loan shall…

(205 ILCS 5/48.05) Sec. 48.05. Regulatory fees. For the fiscal year beginning July 1, 2007 and every year thereafter, each state bank regulated by the Department shall pay a regulatory fee to the Department based upon its total assets as reflected in the most recent quarterly rep…

(205 ILCS 5/48.1) (from Ch. 17, par. 360) (Text of Section from P.A. 104-598) Sec. 48.1. Customer financial records; confidentiality. (a) For the purpose of this Section, the term "financial records" means any original, any copy, or any summary of: (1) a document granting signatu…

(205 ILCS 5/48.2) (from Ch. 17, par. 360.1) Sec. 48.2. Prohibition against certain activities. (a) Any bank, subsidiary, affiliate, officer or employee of such bank subject to this Act shall not: (1) grant any loan on the prior condition, agreement or understanding that the borro…

(205 ILCS 5/48.3) (from Ch. 17, par. 360.2) Sec. 48.3. Disclosure of reports of examinations and confidential supervisory information; limitations. (a) Any report of examination, visitation, or investigation prepared by the Secretary under this Act, the Electronic Fund Transfer A…

(205 ILCS 5/48.4) Sec. 48.4. Enforcement of child support. (a) Any bank governed by this Act shall encumber or surrender accounts or assets held by the bank on behalf of any responsible relative who is subject to a child support lien, upon notice of the lien or levy of the Depart…

(205 ILCS 5/48.5) Sec. 48.5. Reliance on Commissioner. (a) The Commissioner may issue an opinion in response to a specific request from a member of the public or the banking industry or on his own initiative. The opinion may be in the form of an interpretive letter, no-objection …

(205 ILCS 5/48.6) Sec. 48.6. Retention of records. (a) Each bank shall retain its records in a manner consistent with prudent business practices and in accordance with this Act and applicable State or federal laws, rules, and regulations. The record retention system utilized must…

(205 ILCS 5/49) (from Ch. 17, par. 361) Sec. 49. False statements; penalty. It is unlawful for any officer, director, or employee of any State bank or subsidiary or holding company of that bank or, after May 31, 1997, branch out of an out-of-state bank subject to examination by t…

(205 ILCS 305/49) (from Ch. 17, par. 4450) Sec. 49. Security. In addition to generally accepted types of security, the endorsement of a note by a surety, comaker or guarantor, or assignment of shares or wages, in a manner consistent with the laws of this State, shall be deemed se…

(205 ILCS 620/4A-1) Sec. 4A-1. Corporate fiduciaries establishing offices in other states. (a) A corporate fiduciary may act as a fiduciary or otherwise engage in fiduciary activities in this or any other state or foreign country, subject to complying with applicable laws of that…

(205 ILCS 620/4A-10) Sec. 4A-10. Additional places of business for foreign corporations. A foreign corporation that establishes or acquires and maintains a place of business to conduct business as a fiduciary in Illinois pursuant to Section 4A-5 may establish or acquire additiona…

(205 ILCS 620/4A-15) Sec. 4A-15. Representative offices. (a) A foreign corporation conducting fiduciary activities outside this State, but not conducting fiduciary activities in this State may establish a representative office under the Foreign Bank Representative Office Act. At …

(205 ILCS 620/4A-20) Sec. 4A-20. Examination of foreign corporations. (a) To the extent consistent with subsection (c) of this Section, the Commissioner may make such examinations of any place of business established or maintained under Section 4A-5 by a foreign corporation as th…

(205 ILCS 620/4A-25) Sec. 4A-25. Notice to Commissioner. A corporate fiduciary that maintains a place of business in this State under Section 4A-5, or the home state regulator of such foreign corporation, shall give at least 30 days prior written notice or, in the case of an emer…

(205 ILCS 620/4A-5) Sec. 4A-5. Foreign corporations establishing places of business to conduct fiduciary activities in Illinois. (a) A foreign corporation may establish or acquire and maintain a place of business for the conduct of business as a fiduciary in this State provided t…

(205 ILCS 650/5) (from Ch. 17, par. 2855) Sec. 5. (a) Each foreign bank which is licensed to establish and maintain a representative office shall make, keep, and preserve at such office or at such other place as determined by the Commissioner, such books, accounts, and other reco…

(205 ILCS 665/5) (from Ch. 17, par. 5305) Sec. 5. Qualifications for license. Upon the filing of the application and the approval of the bond and the payment of the specified fees, the Secretary may issue a license if he finds: (1) That the financial responsibility, experience, c…

(205 ILCS 670/5) (from Ch. 17, par. 5405) Sec. 5. License. The license shall state the address, including city and state, at which the business is to be conducted and shall state fully the name of the licensee. The license shall be conspicuously posted in the place of business of…

(205 ILCS 730/5) Sec. 5. Definitions. As used in this Act: "Blockchain" means an electronic record created by the use of a decentralized method by multiple parties to verify and store a digital record of transactions which is secured by the use of a cryptographic hash of previous…

(205 ILCS 710/5) Sec. 5. Findings and declarations of policy. The General Assembly hereby finds and declares: (1) that the economic strength and general welfare of Illinois depends on a strong, profitable, and competitive banking industry in this State that preserves and creates …

(205 ILCS 705/5) Sec. 5. Definitions. As used in this Act: "Digital signature" means an encrypted electronic identifier, created by computer, intended by the party using it to have the same force and effect as the use of a manual signature. "Financial institution" means a bank, a…

(205 ILCS 695/5) Sec. 5. Definitions. As used in this Act, the term: "Access area" means any paved walkway or sidewalk that is within 50 feet of any automated teller machine. The term does not include any street or highway open to the use of the public or any adjacent sidewalk. "…

(205 ILCS 685/5) (from Ch. 17, par. 7355) Sec. 5. (a) No financial institution may issue or sell a bank check, cashier's check, traveler's check, or money order to any individual in connection with a transaction or group of such contemporaneous transactions which involves United …

(205 ILCS 675/5) (from Ch. 17, par. 7005) Sec. 5. A financial institution may charge and collect interest under a revolving credit plan on outstanding unpaid indebtedness in the borrower's account under the plan at such periodic percentage rate or rates as the agreement governing…

(205 ILCS 700/5) Sec. 5. Definitions. As used in this Act, the following words have the meaning ascribed to them in this Section. "Financial institution" means a "State bank", "national bank", "trust company", or "insured savings association", as those terms are defined in Sectio…

(205 ILCS 616/5) Sec. 5. Findings and purpose. (a) The General Assembly finds: (1) that communications networks linking financial institutions and their customers, through which transfers of funds are effected electronically, provide the people of this State with substantial bene…

(205 ILCS 715/5) Sec. 5. Definitions. As used in this Act, the following terms shall have the following meanings: "Corporate fiduciary" has the meaning ascribed to that term in the Corporate Fiduciary Act. "Financial institution" means a bank, savings bank, or credit union charte…

(205 ILCS 725/5) Sec. 5. Definitions. As used in this Act: "Blockchain" means an electronic record created by the use of a decentralized method by multiple parties to verify and store a digital record of transactions which is secured by the use of a cryptographic hash of previous…

(205 ILCS 610/5) Sec. 5. Year 2000 Consumer Protections. (a) For the purposes of this Section: (1) the term "Illinois financial institution" means: (A) a State bank, a national bank, or an out-of-state bank, as those terms are defined in the Illinois Banking Act, or any subsidiar…

(205 ILCS 405/5) (from Ch. 17, par. 4812) Sec. 5. Bond; condition; amount. (a) Before any license shall be issued to a licensee to operate a community currency exchange the applicant shall file annually with and have approved by the Secretary a surety bond, issued by a bonding co…

(205 ILCS 732/5) Sec. 5. Purpose and construction. The purpose of this Act is to protect the People of Illinois against the fraud and scams in digital asset kiosk transactions by providing necessary registration requirements, disclosures, and other safeguards for customers. This …

(205 ILCS 740/5) (was 225 ILCS 425/5) Sec. 5. Application for original license. Application for an original license shall be made to the Secretary on forms provided by the Department or through a multi-state licensing system as designated by the Secretary. The application shall b…

(205 ILCS 645/5) (from Ch. 17, par. 2712) Sec. 5. Documents required by the Commissioner. There shall be delivered to the Commissioner (1) duplicate originals of the application of the foreign banking corporation for a certificate of authority and (2) a copy of its charter or art…

(205 ILCS 745/5) Sec. 5. Definitions. As used in this Act: "Department" means the Department of Financial and Professional Regulation. "Depository institution" means a bank, savings bank, savings and loan association, or credit union organized or chartered under the laws of this …

(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 5/5) (from Ch. 17, par. 311) Sec. 5. General corporate powers. A bank organized under this Act or subject hereto shall be a body corporate and politic and shall, without specific mention thereof in the charter, have all the powers conferred by this Act and the following…

(205 ILCS 305/5) (from Ch. 17, par. 4406) Sec. 5. Place of business. (1) A credit union may change its principal place of business within this State upon 45 days prior written notice to the Department, provided that a credit union with a neighborhood or community common bond may …

(205 ILCS 625/5) (from Ch. 17, par. 2135) Sec. 5. Release. Any payments made by an institution in compliance with this Act prior to the receipt of notice of an adverse claim or a restraining order shall be a complete discharge of the institution's obligations as to the amount so …

(205 ILCS 658/5-1) Sec. 5-1. License required. (a) A person may not engage in the business of money transmission or advertise, solicit, or hold oneself out as providing money transmission unless the person is licensed under this Act. (b) Subsection (a) does not apply to: (1) A pe…

(205 ILCS 635/5-1) (from Ch. 17, par. 2325-1) Sec. 5-1. The Commissioner may promulgate rules with respect to brokering and lending procedures of residential mortgage licensees as necessary to accomplish the purposes of this Act. (Source: P.A. 85-735.)

(205 ILCS 620/5-1) (from Ch. 17, par. 1555-1) Sec. 5-1. Commissioner's powers. The Commissioner of Banks and Real Estate shall have the following powers and authority and is charged with the duties and responsibilities designated in this Act: (a) To promulgate, in accordance with…

(205 ILCS 511/5-1) Sec. 5-1. Scope; number of pawnbroker licenses. (a) It is unlawful for any person to operate as a pawnbroker in Illinois except as authorized by this Act and without first having obtained a license in accordance with this Act. (b) The business of a pawnbroker d…

(205 ILCS 620/5-10) (from Ch. 17, par. 1555-10) Sec. 5-10. Fees; receivership account. (a) There shall be paid to the Commissioner by every corporate fiduciary including each trust company, bank, savings and loan association, and savings bank to which this Act shall apply, reason…

(205 ILCS 635/5-10) Sec. 5-10. Comparable monthly payment quotes. When comparing different loans, the licensee must not state or imply that monthly loan payments, if they include amounts escrowed for payment of property taxes and homeowner's insurance, are comparable with monthly…

(205 ILCS 511/5-10) Sec. 5-10. Application process; investigation; fees. (a) The Secretary shall issue a license upon completion of all of the following: (1) The filing of an application for license with the Secretary or the Nationwide Multistate Licensing System and Registry as …

(205 ILCS 620/5-10.5) Sec. 5-10.5. Disclosure of records. A corporate fiduciary may not disclose to any person, except to the customer or the customer's duly authorized agent, any records pertaining to the fiduciary relationship between the corporate fiduciary and the customer un…

(205 ILCS 620/5-11) (from Ch. 17, par. 1555-11) Sec. 5-11. A corporate fiduciary shall be reimbursed for costs which are reasonably necessary and which have been directly incurred in searching for, reproducing or transporting books, papers, records or other data of a customer req…

(205 ILCS 635/5-11) Sec. 5-11. Requirement to provide borrower with a copy of all appraisals. Licensees must provide to the borrower a complete copy of any appraisal, including any appraisal generated using the Automated Valuation Model, obtained by the lender for use in underwri…

(205 ILCS 635/5-12) Sec. 5-12. Disclosure of refinancing options. If the subject of a future loan is discussed by a licensee making, providing, or arranging a mortgage loan, the licensee shall disclose the circumstances under which a new loan could be considered. Such disclosure …