§ 35-30 — Corporate activities and renewal applications

Illinois § 35-30

• Jurisdiction: Illinois
• Topic: REGULATION
• Ch. 205: FINANCIAL REGULATION
• Act 205 ILCS 735/: Illinois Community Reinvestment Act.

Text

In considering an application for the establishment of a branch, office, or other facility, the relocation of a main office, branch, office, or other facility, a license renewal, change in control of a covered financial institution, or a merger or consolidation with or the acquisition of assets or assumption of liabilities of any covered financial institution, out-of-state bank, credit union, or residential mortgage licensee, national bank or credit union, or foreign financial institution, the Secretary shall consider, but not be limited to, the record of performance of the covered financial institution and its parent company, including all subsidiaries thereof, relative to this Act. The record of performance of the covered financial institution may be the basis for the denial of any such application.

Legislative History

(Source: P.A. 101-657, eff. 3-23-21.)