Illinois Statutes
§ 6010 — Prohibited loans
Illinois·Topic REGULATION·Ch. 205 FINANCIAL REGULATION·Act 205 ILCS 205/ Savings Bank Act.·Art. Article 6 - Investments
No savings bank may make a loan to any person owning 10% or more of its capital stock, any affiliated person, agent, or attorney of the savings bank, either individually or as an agent or partner of another, except in accordance with laws and regulations applicable to similar transactions to which banks are subject.
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Legislative History
(Source: P.A. 86-1213.)
Nearby Sections
15
§ 6001
General provisions§ 6002
Investment in loans§ 6003
Other investments§ 6006
Modification agreements§ 6010
Prohibited loans§ 6012
Acknowledgments§ 6013
Loans to one borrower