Section 396.210  Purpose

Section 1-7(a) of the Corporate Fiduciary Act requires any corporate fiduciary that is a trust company to apply for and obtain approval from the Commissioner thirty days prior to the purchasing or leasing of land, building, or equipment for the establishment of a branch office.  This Subpart sets forth the terms and conditions a trust company must satisfy in order for the Commissioner to approve its application for the establishment of a branch office.

(Source:  Added at 20 Ill. Reg. 10825, effective August 1, 1996)