TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: OFFICE OF BANKS AND REAL ESTATE
PART 310 MINIMUM ORGANIZATIONAL CAPITAL REQUIREMENTS FOR BANKS AND TRUST COMPANIES
SECTION 310.300 MINIMUM ORGANIZATIONAL CAPITAL REQUIREMENTS FOR TRUST COMPANIES


 

Section 310.300  Minimum Organizational Capital Requirements for Trust Companies

 

The minimum organizational capital requirement that must be met by an applicant for a certificate of authority under the Corporate Fiduciary Act to become an Illinois trust company is $3,000,000.  The minimum organizational capital requirement prescribed in this subsection shall be in addition to and separate from the amount pledged or surety bond held pursuant to Section 6-13.5 of the Corporate Fiduciary Act.