Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 1075 - SAVINGS BANK ACT
Subpart O - CONVERSION OF MUTUAL SAVINGS BANK TO CAPITAL STOCK SAVINGS BANK
Section 1075.1830 - Issuance of Capital Stock - Price
Universal Citation: 38 IL Admin Code ยง 1075.1830
Current through Register Vol. 48, No. 12, March 22, 2024
A converted savings bank shall issue and sell capital stock at a total price at least equal to the estimated pro forma market value of the stock issued in connection with the conversion, based on an independent valuation, as provided in Section 1075.2070.
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