Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 1075 - SAVINGS BANK ACT
Subpart D - OPERATIONS
Section 1075.470 - Deceptively Similar Names
Universal Citation: 38 IL Admin Code ยง 1075.470
Current through Register Vol. 48, No. 12, March 22, 2024
a) No savings bank may adopt or use any name deceptively similar to that of another current existing savings bank or financial institution that is located within the area as defined as follows:
1)
within the counties of Cook, Lake, DuPage, McHenry, Kane and Will, a radius of
one mile of the main office of another savings bank or other financial
institution; and
2) within all
other counties of the State, excluding those specifically identified in
subsection (a), a radius of 50 miles of a savings bank or other financial
institution.
b) For purposes of Subpart D of this Part, the determination of the deceptive similarity of a name shall be made by the Director or other person or persons as are authorized to act on the Director's behalf.
c) A savings bank chartered under the Act must use the words "Savings Bank" or the initials "SB" in its name.
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