TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 1075 SAVINGS BANK ACT
SECTION 1075.1055 EMERGENCY ADJUDICATION


 

Section 1075.1055  Emergency Adjudication

 

a)         The Director may use emergency adjudication proceedings in a situation involving an immediate danger to the public or welfare requiring immediate Division action.

 

b)         The Director may take only such action as is necessary to prevent or avoid the immediate danger to the public interest or welfare that justifies use of emergency adjudication.

 

c)         The Director shall render an Order, including a brief statement of findings of fact, conclusions of law, and policy reasons for the decision if it is an exercise of the Director's discretion, to justify the determination of an immediate danger and the Director's decision to take the specific action.

 

d)         The Division shall give such notice as is practicable to persons who are required to comply with the Order. The Order is effective when rendered.

 

e)         After issuing an Order pursuant to this Section, the Division shall proceed as quickly as feasible to complete any proceedings that would be required if the matter did not involve an immediate danger.

 

f)          The Division's record consists of any documents regarding the matter that were considered or prepared by the Division. The Division shall maintain these documents as its official records.

 

g)         Unless otherwise required by a provision of law, the Division's record need not constitute the exclusive basis for the Director's action in emergency adjudication or for judicial review. Under this Section, the Director may act on the basis of nonrecord information and may render his or her Order orally, if necessary, to cope with the emergency.

 

(Source:  Amended at 30 Ill. Reg. 19068, effective December 1, 2006)