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. 48, No. 12, March 22, 2024
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.
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