Ill. Admin. Code tit. 38 § 1075.1435

Current through Register Vol. 48, No. 50, December 13, 2024

Section 1075.1435 - Final Approval of the Conversion

a) Upon a determination by the Director that all applicable requirements of law have been met, including the surrender of the original charter, the Director shall issue to the applicant a Certificate of Authority to Operate. The savings bank shall then file its amended charter and Articles of Incorporation as an Illinois savings bank with the County Recorder in the county in which the savings bank is headquartered.

b) Upon filing, the applicant shall be an Illinois savings bank under sole supervision of the Director and of the Federal Deposit Insurance Corporation.

Ill. Admin. Code tit. 38, § 1075.1435

Amended at 30 Ill. Reg. 19068, effective December 1, 2006