205 ILCS 5/ – Illinois Banking Act | Midpage

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205 ILCS 5/

Illinois Banking Act

1Title 10Permit to organize 11Stock subscription 12Organization 13.5Formation and merger of interim banks 13.6Banks as limited liability companies 13Issuance of charter 14.1Quasi-Reorganization of Capital 14Stock 15Stock and stockholders 16.1205 Ilcs 5/16.1 16.5Employment of persons with convictions 16Directors 17Changes in charter 18Change in control 19.1205 Ilcs 5/19.1 19.2205 Ilcs 5/19.2 2.1205 Ilcs 5/2.1 2.2205 Ilcs 5/2.2 2.3205 Ilcs 5/2.3 2.4205 Ilcs 5/2.4 2.5205 Ilcs 5/2.5 2.6Transfer of powers 2General definitions 20Resulting national bank or insured savings association 21.1Application for certificate of authority 21.2Interstate mergers; minimum age requirement 21.3Mergers; deposit concentration limits 21.4Out-of-state banks establishing branches 21.5Prohibition against establishment of branches on or near the premises of certain affiliates 21Resulting State bank 22Merger procedure; resulting State bank 23Merger; approval by stockholders 24Effective date of merger; filing 25Conversion of national bank or insured savings association into State bank 26Converting national banks or insured savings association; issuance of charter to resulting State bank 27Commissioner's expenses 28Continuation of corporate entity 29Dissenting stockholders 3Formation and primary powers 30.5Mid-tier bank holding company merger with State bank 30Conversion; merger with trust company or special purpose trust company 31.1Savings association branch; bank branch 31Emergency sale of assets, change in control, or merger 32.1Loans to single individuals 32Basic loaning limits 33Marketable investment securities limit 34Exceptions to loans and investment limits 35.1Lease limitations 35.2Limitations on investments in and loans to affiliates 35Exemptions from loan and investment limits 36Classification of loans and investments 37Loans to officers and loans on and purchases of bank's own stock 38Validation of loans and investments 39Directors' and officers' liability 4Effect on existing banks 40Prohibited activities 43Waivers; corporate action by unanimously signed writing 44.1Services at care facilities 44School or institutional deposits 45.1Accounts for minors 46Misleading practices and names prohibited; penalty 47Reports to Commissioner 48.05Regulatory fees 48.1205 Ilcs 5/48.1 48.2Prohibition against certain activities 48.3Disclosure of reports of examinations and confidential supervisory information; limitations 48.4Enforcement of child support 48.5Reliance on Commissioner 48.6Retention of records 48Secretary's powers; duties 49False statements; penalty 5General corporate powers 50Commissioner's proceedings exclusive 51Capital impairment, etc.; correction 52Capital impairment, etc.; emergency 53Commissioner's possession; power 54Commissioner's possession; limitation of actions 55Reorganization 56Requirements of reorganization plan 57Reorganization; emergency 58Appointment of receiver; court proceeding 59Notice of receivership 5a205 ILCS 5/5a 5bDeposits in outside depository 5d205 ILCS 5/5d 5eLending and account authority 5fNon-English language transactions 5gSavings promotion raffle 6.1205 Ilcs 5/6.1 6.2205 Ilcs 5/6.2 60Receiver's powers; duties 61Receiver's powers; court directions 62Change of receiver 63Insured deposits; subrogation 64Expenses and fees 65Dividends; dissolution 66Validation of dividends; destruction of records 67Judicial review 68Voluntary dissolution 69Voluntary dissolution; deposit with Commissioner 7Organization capital requirements 70Voluntary dissolution; Commissioner's payments 71Voluntary dissolution; fees and expenses 72Voluntary dissolution; dissolving bank 73Voluntary dissolution; limitation on claims 74.5Voluntary dissolution of less active bank 74Voluntary dissolution; termination of charter 75Separability 76Effective Date 77Repealer 78Board of banks and trust companies; creation, members, appointment 79Board, terms of office 8Incorporators 80Board; powers 81Board; compensation 82Commissioner, board; civil liability 83Compliance review 9.5Reservation of corporate name 9Contents of application