Ill. Admin. Code tit. 38 § 305.100

Current through Register Vol. 48, No. 45, November 8, 2024

Section 305.100 - Procedure to Establish and Maintain a Subsidiary to Manage Real Estate Obtained in Satisfaction of Debt Previously Contracted

A state bank that seeks to establish and maintain a subsidiary in order to manage, market and dispose of real estate obtained in satisfaction of debt previously contracted need not submit notice pursuant to Section 5(12) of the Act when the bank has a controlling interest in the subsidiary.

Ill. Admin. Code tit. 38, § 305.100

Added at 36 Ill. Reg. 6814, effective May 4, 2012

Amended at 39 Ill. Reg. 14509, effective 10/22/2015