Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 1075 - SAVINGS BANK ACT
Subpart J - SAVINGS BANK HOLDING COMPANIES
Section 1075.1250 - Investment
Universal Citation: 38 IL Admin Code ยง 1075.1250
Current through Register Vol. 48, No. 12, March 22, 2024
A mutual holding company may invest in the stock of or other forms of equity ownership of any company or entity which the board of directors determines to be in the best interests of stock owners and depositors, and such investment shall be documented in the holding company's minutes with reference to items such as price/earnings rates, future prospects, sources of income, level of risk, compatibility with the overall business plan of the holding company and complete disclosure of any organization directors', officers', employees' or 5% or more stockholders' interests in the entity.
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