Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 1075 - SAVINGS BANK ACT
Subpart M - REMOVALS, SUSPENSIONS AND INDUSTRY WIDE PROHIBITION
Section 1075.1610 - Notice of Intention and Answer
Universal Citation: 38 IL Admin Code ยง 1075.1610
Current through Register Vol. 48, No. 12, March 22, 2024
a) Subject to Section 1075.1630 of this Part, proceedings to remove or suspend an officer, organization director, employee or agent of a savings bank operating under the Act or to prohibit an individual from further participation in any manner in the affairs of any savings bank operating and regulated under the Act shall commence upon service of Notice of Intention to Remove, Suspend or Prohibit.
b) The notice shall:
1) state the grounds for the
action;
2) recite the statutory
basis for the action;
3) be signed
by the Director;
4) contain a
notice of hearing on the matter that sets a hearing date within 30 days after
service of the notice of intention and names a hearing officer who shall
conduct the hearing; and
5) include
a copy of the Director's rules pertaining to hearings.
c) Hearing shall be conducted in accordance with 38 Ill. Adm. Code 100.
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