Section 1075.1265  Determination of the Qualification and Condition of an Out-of-State Acquisition

When requested, the Director shall review the laws of any state to determine whether the laws of that state expressly authorize an Illinois savings bank holding company to acquire a savings bank or savings bank holding company in that state. The Director  shall issue a finding that such other state law either does or does not provide qualifications and conditions that are unduly restrictive for the acquisition when compared to those imposed by the laws of Illinois.

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