205 ILCS 205/ Savings Bank Act.

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205 ILCS 205/12001

(205 ILCS 205/12001)

Sec. 12001.

Compliance review.

(a) As used in this Section:

"Affiliate" means a corporation whose stock is at least 80% owned by
the depository institution or a corporation that directly or indirectly owns
at least 80% of the depository institution.

"Depository institution" means a State or national bank, a State or federally
chartered savings and loan association, or a State or federally chartered
savings bank that is engaged in the business of banking in Illinois as
appropriate.

"Compliance review committee" means:

(1) one or more persons assigned by management or

appointed by the board of directors of a depository institution for the purposes set forth in subsection (b); or

(2) any other person to the extent the person acts in

an investigatory capacity at the direction of a compliance review committee.

"Compliance review documents" means documents prepared in connection with a
review or evaluation conducted by or for a
compliance review committee.

"Person" means an individual, a group of individuals, a board committee,
a partnership, a firm, an association, a corporation, or any other entity.

(b) This Section applies to compliance review committees whose functions
are to evaluate and seek to improve any of the following:

(1) loan policies or underwriting standards;

(2) asset quality;

(3) financial reporting to federal or State

governmental or regulatory agencies; or

(4) compliance with federal or State statutory or

regulatory requirements.

(c) Except as provided in subsection (d) of this Section:

(1) Compliance review documents are confidential and

are not subject to discovery or admissible in evidence in any civil action.

(2) Individuals serving on compliance review

committees or acting under the direction of a compliance review committee shall not be required to testify in any civil action about the contents of any compliance review document or conclusions of any compliance review committee or about the actions taken by a compliance review committee.

(3) Compliance review documents delivered to an

affiliate or a State, federal, or foreign governmental or regulatory agency shall remain confidential and are not discoverable or admissible in evidence in any civil action.

(d) This Section does not apply to: (1) compliance review committees on
which
individuals serving on or at the direction of the compliance review committee
have
management responsibility for the operations, records, employees, or activities
being examined or evaluated by the compliance review committee and (2) any
civil action initiated by any federal or State regulatory agency.

(e) This Section shall not be construed to limit the discovery or
admissibility in any civil action of any documents other than compliance review
documents.

(Source: P.A. 89-364, eff. 8-18-95.)

205 ILCS 205/Art. 12.1

(205 ILCS 205/Art. 12.1 heading) ARTICLE 12.1. Effect of Repeal of Illinois Savings and Loan Act of 1985

(Source: P.A. 98-1081, eff. 1-1-15.)

205 ILCS 205/12101

(205 ILCS 205/12101)
Sec. 12101. Effect of repeal.

  This Article sets forth the effect of and means of transition necessitated by the repeal of the Illinois Savings and Loan Act of 1985.

(Source: P.A. 98-1081, eff. 1-1-15.)

205 ILCS 205/12102

    (205 ILCS 205/12102)
    Sec. 12102. Effect on special funds.

(a) The Savings and Residential Finance Regulatory Fund established under Section 7-19.1 of the Illinois Savings and Loan Act of 1985 is hereby redesignated the Residential Finance Regulatory Fund.  The fund shall continue in existence under the Illinois Residential Mortgage License Act of 1987 without interruption and shall retain all moneys therein, except moneys required to be transferred or returned from Savings and Residential Finance Regulatory Fund, now designated the Residential Finance Regulatory Fund, to the Savings Institutions Regulatory Fund, now designated the Savings Bank Regulatory Fund, pursuant to subsection (e) of Section 7-19.2 of the Illinois Savings and Loan Act of 1985, shall continue to be required to be transferred or returned to the Savings Institutions Regulatory Fund, now designated the Savings Bank Regulatory Fund, as if subsection (e) of Section 7-19.2 of the Illinois Savings and Loan Act of 1985 had not been repealed.

(b) The Savings Institutions Regulatory Fund established under Section 7-19.2 of the Illinois Savings and Loan Act of 1985 is hereby redesignated the Savings Bank Regulatory Fund.  The fund shall continue in existence under Section 9002.1 of this Act without interruption and shall retain all moneys therein.

(Source: P.A. 98-1081, eff. 1-1-15.)

205 ILCS 205/12103

    (205 ILCS 205/12103)
    Sec. 12103. Effect on foreign associations.
    (a) Any existing foreign association shall be deemed to be an out-of-state savings bank under this Act.

(b) Notwithstanding any other provision of this Act, an existing foreign association may retain any branch or office in the State that properly existed in the State at the time of the repeal of the Illinois Savings and Loan Act of 1985, and continue to engage in the same activities in  the State therefrom as were engaged in immediately prior to the repeal of the Illinois Savings and Loan Act, without further application or notice to or approval of the Secretary.

(c) An existing foreign association may retain a representative office in the State that properly existed in the State at the time of the repeal of the Illinois Savings and Loan Act of 1985, provided that the foreign association obtains a license under the Foreign Bank Representative Office Act.

(Source: P.A. 98-1081, eff. 1-1-15.)

205 ILCS 205/12104

(205 ILCS 205/12104)

Sec. 12104. (Repealed).

(Source: P.A. 98-1081, eff. 1-1-15. Repealed by P.A. 100-783, eff. 8-10-18.)