Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 1075 - SAVINGS BANK ACT
Subpart E - INVESTMENTS
Section 1075.555 - Other Investments
Universal Citation: 38 IL Admin Code ยง 1075.555
Current through Register Vol. 47, No. 38, September 22, 2023
Pursuant to Section 6003 of the Act, a savings bank is permitted to invest in loans secured by stock or equity securities, other than stock or equity securities of a depository institution, if the stock or equity security has a readily available market. Such investment shall not exceed 1 percent of the total assets of the savings bank. Notwithstanding any provision of this Section, a savings bank may invest in loans secured by stock or equity securities to the same extent and manner as permitted to any other type of depository institution.
Amended at 26 Ill. Reg. 13483, effective September 13, 2002
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