Ill. Admin. Code tit. 38, § 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.
Notes
Amended at 30 Ill. Reg. 19068, effective December 1, 2006
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