Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 1075 - SAVINGS BANK ACT
Subpart E - INVESTMENTS
Section 1075.540 - Vehicle/Automobile Loans
Universal Citation: 38 IL Admin Code ยง 1075.540
Current through Register Vol. 48, No. 12, March 22, 2024
A savings bank may invest in loans, debts and advances of credit made for the purpose of financing vehicle/automobile purchases.
For the purposes of this Section, vehicles/automobiles shall include all motorized forms of transportation which the board of directors of a savings bank shall by written policy consider to be adequate collateral.
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