Illinois § 3.075 Reliance on Commissioner

Illinois Statutes

§ 3.075 — Reliance on Commissioner

Illinois § 3.075

TopicREGULATION

Ch. 205FINANCIAL REGULATION

Act 205 ILCS 10/Illinois Bank Holding Company Act of 1957.

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Bluebook

205 Ill. Comp. Stat. 3.075 (2026).

Text

No bank holding company or other person shall be liable under this Act for any act done or omitted in good faith in conformity with any rule, interpretation, or opinion issued by the Commissioner of Banks and Real Estate, notwithstanding that after the act or omission has occurred, the rule, opinion, or interpretation upon which reliance is placed is amended, rescinded, or determined by judicial or other authority to be invalid for any reason.

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No bank holding company or other person shall be liable under this Act for any act done or omitted in good faith in conformity with any rule, interpretation, or opinion issued by the Commissioner of Banks and Real Estate, notwithstanding that after the act or omission has occurred, the rule, opinion, or interpretation upon which reliance is placed is amended, rescinded, or determined by judicial or other authority to be invalid for any reason.