Home/Illinois/Statutes/Topic: REGULATION/Ch. 205: FINANCIAL REGULATION/Act 205 ILCS 205/: Savings Bank Act./Art.: Article 1 - General Provisions/§ 1009
Illinois Statutes

§ 1009 — Status as IRS qualified thrift lender

Illinois § 1009
JurisdictionIllinois
TopicREGULATION
Ch. 205FINANCIAL REGULATION
Act 205 ILCS 205/Savings Bank Act.
Art.Article 1 - General Provisions

This text of Illinois § 1009 (Status as IRS qualified thrift lender) 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. 1009 (2026).

Text

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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Bluebook (online)
Illinois § 1009, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/205/1009.