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 1075.1895 - Conditions on Shares of Stock Subject to Restriction on Sale
Universal Citation: 38 IL Admin Code ยง 1075.1895
Current through Register Vol. 48, No. 12, March 22, 2024
In connection with shares of capital stock subject to restriction on sale:
a) each certificate for the stock shall bear a legend giving appropriate notice of the restriction;
b) appropriate instructions shall be issued to the transfer agent for the capital stock with respect to applicable restrictions on transfer of any such restricted stock; and
c) any shares issued as a stock dividend, stock split, or otherwise with respect to any such restricted stock shall be subject to the same restrictions as may apply to the restricted stock.
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