(205 ILCS 5/48.5)
Reliance on Commissioner.
(a) The Commissioner may issue an opinion in response to a specific
request from a member of the public or the banking industry or on his
own initiative. The opinion may be in the form of an interpretive
letter, no-objection letter, or other issuance the Commissioner deems
(b) No bank or other person
shall be liable under this Act for any act done or omitted in good faith in
conformity with any rule, interpretation, or opinion issued by the
Commissioner of Banks and Real Estate, notwithstanding that after the act or
omission has occurred, the rule, opinion, or interpretation upon
which reliance is placed is amended, rescinded, or determined by judicial or
other authority to be invalid for any reason.
(Source: P.A. 92-483, eff. 8-23-01.)