205 ILCS 105/5-15

(205 ILCS 105/5-15) (from Ch. 17, par. 3305-15)

Sec. 5-15. Commissioner's regulations. (a) The Commissioner may from time to time promulgate such rules and regulations with respect to investments, loans or lending plans as may be reasonably necessary to assure that such loans are in keeping with sound lending practice and will promote the purposes of this Act.

(b) Violations of any of the provisions of this Article 5, "Investments", shall constitute unsafe and unsound practice and shall subject any officer, director or employee of an association who knowingly violates provisions of this Article 5 to removal as provided in Section 3-6(e) of this Act.

(Source: P.A. 84-543.)