Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 320 - POWERS INCIDENTAL AND GERMANE TO CARRYING ON A GENERAL BANKING BUSINESS
Section 320.10 - Purpose
Universal Citation: 38 IL Admin Code ยง 320.10
Current through Register Vol. 47, No. 52, December 29, 2023
The powers of a state bank in Illinois are established and governed by the provisions of the Illinois Banking Act (the "Act") [205 ILCS 5 ]. Section 3 of the Act authorizes the establishment of banks for the purpose of doing a general banking business. Section 5 of the Act further enumerates the corporate powers of a state bank. This Part establishes factors which may be relevant in determining whether an activity is within a state bank's power to do a general banking business or incidental and germane to its power to do a general banking business.
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