Section 1000.120  Conditions

a)         No submission subject to a fee shall be considered complete without the stipulated fee.

b)         The fee shall be non-refundable regardless of the subsequent action with respect to the submission.

c)         The Director of the Division (Director) may waive the payment of the applicable fee otherwise required by Sections 1000.110 and 1000.120 when:

1)         The Director determines that the respective Merger or Bulk Sale of Assets or Conversion to Federal Charter avoids the need for the Director to take custody of the respective association pursuant to the provisions of Article 7, Section 7-11 of the Act; or

2)         The establishment of a Branch Office is at the location of the home office of the association which ceases to exist as the result of a Merger or Bulk Sale of Assets which avoids the need for the Director to take custody of the respective association pursuant to the provisions of Article 7, Section 7-11 of the Act; or

3)         The Termination of Operation and Closing of a Branch Office pertains to a branch office of an association which ceases to exist as the result of a Merger or Bulk Sale of Assets which avoids the need for the Director to take custody of the respective association pursuant to the provisions of Article 7, Section 7-11 of the Act and the closing of the respective branch office is a condition stipulated in the plan of the respective merger or bulk sale of assets.

4)         The Director determines that the respective conversion to federal charter avoids the need for the Director to take custody of the respective association pursuant to the provisions of Section 7-8 of the Act.

(Source:  Amended at 30 Ill. Reg. 18990, effective December 1, 2006)