TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: OFFICE OF BANKS AND REAL ESTATE
PART 310 MINIMUM ORGANIZATIONAL CAPITAL REQUIREMENTS FOR BANKS AND TRUST COMPANIES
SECTION 310.200 MINIMUM ORGANIZATIONAL CAPITAL REQUIREMENTS FOR BANKS


 

Section 310.200† Minimum Organizational Capital Requirements for Banks

 

The minimum organizational capital requirements that must be met to exercise the powers conferred in the Illinois Banking Act are as follows:

 

a)†††††††† $6,000,000 for a bank that is located in the Chicago, Illinois central business district;

 

b)†††††††† $4,000,000 for a bank that is located in the Chicago, Illinois metropolitan area;

 

c)†††††††† $3,000,000 for a bank that is located outside of the Chicago, Illinois central business district and metropolitan area; and

 

d)†††††††† $3,500,000 for a bankerís bank that is owned exclusively by other banks or bank holding companies and that has been exclusively organized to provide services to other banks, bank holding companies, and the officers, directors and employees of such institutions.