Illinois Statutes
§ 1007.95
Illinois § 1007.95
JurisdictionIllinois
TopicREGULATION
Ch. 205FINANCIAL REGULATION
Act 205 ILCS 205/Savings Bank Act.
Art.Article 1 - General Provisions
This text of Illinois § 1007.95 is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
205 Ill. Comp. Stat. 1007.95 (2026).
Text
"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 care under circumstances then prevailing that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital.
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Legislative History
(Source: P.A. 86-1213.)
Nearby Sections
15
§ 1007
Definitions§ 1007.05
§ 1007.05§ 1007.10
§ 1007.10§ 1007.100
(Repealed)§ 1007.105
§ 1007.105§ 1007.110
§ 1007.110§ 1007.115
Federal association§ 1007.120
Affiliate facility§ 1007.125
§ 1007.125§ 1007.130
Out-of-state savings bank§ 1007.135
§ 1007.135§ 1007.15
§ 1007.15§ 1007.150
Applicability of other Acts§ 1007.20
§ 1007.20§ 1007.25
§ 1007.25Cite This Page — Counsel Stack
Bluebook (online)
Illinois § 1007.95, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/205/1007.95.