Illinois Statutes
§ 2004
Illinois·Topic REGULATION·Ch. 205 FINANCIAL REGULATION·Act 205 ILCS 205/ Savings Bank Act.·Art. Article 2 - Holding Companies
Subject to the regulation of the Commissioner, a savings bank holding company may acquire control of a subsidiary savings bank or any holding company upon application to and with the prior written approval of the Commissioner. The application shall be in the form prescribed by the Commissioner and contain information as will enable the Commissioner to determine whether the acquisition is consistent with the interest of maintaining a sound financial system and whether the proposed acquisition does not afford a basis for supervisory objection.
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Legislative History
(Source: P.A. 86-1213.)
Nearby Sections
15
§ 20-10
Examination§ 20-15
Books and records§ 20-20
Regulatory cooperation§ 20-25
Material business changes§ 20-30
Change in control§ 20-35
Mergers§ 20-40
Investigation of complaints§ 20-5
§ 20-5§ 20-50
Enforcement actions§ 20-55
Violations§ 20-60
Hearings§ 20-65
Hearing rules§ 20-70
Civil penalties