Ill. Admin. Code tit. 38 § 346.35

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

Section 346.35 - Mandatory Pre-Application Conference

An application for approval and creation of a banking development district shall be preceded by a pre-application conference to be attended by representatives of the municipal corporation and the depository institution applicants, the Division and any other parties as agreed to by the parties. The purpose of the pre-application conference is to promote open communication between prospective applicants and the Division regarding the specifics of the application, regulatory expectations, and the application review process. Prior to the pre-application, the representatives of the municipal corporation and the depository institution applicants shall submit an outline of their proposed discussion regarding the topics listed below. The Secretary will consult with the State Treasurer as needed. The topics to be discussed at the pre-application conference shall include, but are not limited to:

a) availability and sources of demographic, geographic, financial and other relevant information necessary for completion of the application;

b) the means of measurement of the anticipated economic development benefits of the banking development district should the application be approved;

c) the support for the proposed banking development district being offered by CBOs;

d) the process the Division will employ in its review of the application; and

e) such other topics as agreed to in advance of the pre-application conference.

Ill. Admin. Code tit. 38, § 346.35

Repealed at 41 Ill. Reg. 11334, effective 8/28/2017

Added at 48 Ill. Reg. 12263, effective 8/2/2024