§ 3002 — Contents of application for permit to organize

Illinois § 3002

• Jurisdiction: Illinois
• Topic: REGULATION
• Ch. 205: FINANCIAL REGULATION
• Act 205 ILCS 205/: Savings Bank Act.
• Art.: Article 3 - Incorporation And Organization

Text

The application for a permit to organize shall be on forms required by the Secretary, shall include all information as he deems necessary but must include at least the following: (1) The name, address, social security number, date of birth, business address, home address, place of birth, and occupation of each organizer. (2) The name of the proposed savings bank. (3) The address of the headquarters, main business office, and branches, if known, of the proposed savings bank. Information must include any real estate interests of the organizers that may be involved with any of these locations. (4) The anticipated duration of the proposed savings bank, which may be perpetual. (5) An audited financial statement of any corporation or partnership that is one of the organizers or that shall be either a controlling interest in the proposed savings bank, a lender to the proposed savings bank, or a lender for purposes of acquiring an interest in the proposed savings bank to any of the controlling interests. The Secretary may define by regulation the terms "controlling interest" and "lender". (6) The proposed articles of incorporation and bylaws. (7) The number of shares of capital stock; the number of shares and classes of preferred stock, if any; the par value of each type of stock which may not be less than $1; the number of shares to be sold and the per share initial offering price of each share.

Legislative History

(Source: P.A. 97-492, eff. 1-1-12.)