Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 357 - REDUCTION IN THE NUMBER OF REQUIRED DIRECTORS
Section 357.10 - Factors to be Considered
Current through Register Vol. 47, No. 25, June 23, 2023
a) In determining whether to allow a Bank to reduce the minimum number of its directors, the Commissioner of Banks and Real Estate ("Commissioner") shall consider the following factors in addition to those set forth in Section 16(2)(b) of the Illinois Banking Act [205 ILCS 5/16(2)(b) ].
b) The Commissioner shall provide a form for a bank seeking to reduce the number of required directors pursuant to this Part.