(205 ILCS 5/48.6)
Retention of records.
Unless a federal law requires otherwise,
the Commissioner may by rule prescribe periods of time for which banks
operating under this Act must retain records and after the expiration of which,
the bank may destroy those records. No liability shall accrue against the
bank, the Commissioner, or this State for the destruction of records according
to rules of the Commissioner promulgated under the authority of this Section.
In any cause or proceeding in which any records may be called in question or be
demanded by any bank, a showing of the expiration of the period so prescribed
shall be sufficient excuse for failure to produce them.
(Source: P.A. 91-929, eff. 12-15-00.)