Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 1075 - SAVINGS BANK ACT
Subpart F - SERVICE CORPORATION AND OPERATING SUBSIDIARIES
Section 1075.620 - Investment Limitations
Current through Register Vol. 47, No. 38, September 22, 2023
a) A savings bank may make investments in capital stock of service corporations that are 90% or more owned by one or more savings banks in an amount that shall not exceed 10% of the savings bank's total assets. A savings bank that has met and maintained the capital levels required for a savings bank, the deposit accounts of which are insured by the Federal Deposit Insurance Corporation, may invest an additional 50% of the excess capital provided that in no event shall a savings bank's maximum investment in service corporations exceed 20% of its total assets.
b) A savings bank may make investments in capital stock of service corporations that are at least 51% but less than 90% owned by one or more savings banks, in an amount not to exceed 1% of the savings bank's total assets.
c) All loans to service corporations shall be subject to all lending limitations contained in the Act and this Part, except that:
Amended at 30 Ill. Reg. 19068, effective December 1, 2006