Illinois Statutes
§ 31.1 — Savings association branch; bank branch
Illinois § 31.1
This text of Illinois § 31.1 (Savings association branch; bank branch) 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. 31.1 (2026).
Text
(a)A State bank that purchases an Illinois branch of an insured savings association that is not an eligible depository institution may establish and maintain that branch as a branch of the purchasing State bank.
(b)Nothing in this Section shall authorize a State bank to acquire, hold, or invest any asset or to assume or incur any liability that does not conform to the legal requirements for assets acquired, held, or invested or liabilities assumed or incurred by State banks, or to engage in any activity in which a State bank is not authorized to engage as part of a general banking business.
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Legislative History
(Source: P.A. 88-4.)
Nearby Sections
2
Cite This Page — Counsel Stack
Bluebook (online)
Illinois § 31.1, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/205/31.1.