Ill. Admin. Code tit. 38 § 310.200

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

Section 310.200 - Minimum Organizational Capital Requirements for Banks

The minimum organizational capital requirements that must be met to exercise the powers conferred in the Illinois Banking Act are as follows:

a) $6,000,000 for a bank that is located in the Chicago, Illinois central business district;

b) $4,000,000 for a bank that is located in the Chicago, Illinois metropolitan area;

c) $3,000,000 for a bank that is located outside of the Chicago, Illinois central business district and metropolitan area; and

d) $3,500,000 for a banker's bank that is owned exclusively by other banks or bank holding companies and that has been exclusively organized to provide services to other banks, bank holding companies, and the officers, directors and employees of such institutions.

Ill. Admin. Code tit. 38, § 310.200