Illinois Statutes
§ 1009 — Status as IRS qualified thrift lender
Illinois·Topic REGULATION·Ch. 205 FINANCIAL REGULATION·Act 205 ILCS 205/ Savings Bank Act.·Art. Article 1 - General Provisions
All savings banks operating under this Act must qualify for either the 60% asset test of Section 7701 (a)(19) of the Internal Revenue Code of 1986 and any amendments thereto or an asset test as prescribed by regulations of the Commissioner.
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Legislative History
(Source: P.A. 90-301, eff. 8-1-97.)
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