(20 ILCS 1205/17) (from Ch. 17, par. 118)
Sec. 17.
Neither the Director, nor any supervisor, nor any examiner shall
be an officer, director, owner, or shareholder of, or a partner in, or have
any proprietary interest, direct or indirect, in any financial institution;
provided, however, that ownership of withdrawable capital accounts or
shares
in credit unions shall not be deemed to be prevented hereby. If the
Director or any supervisor, or examiner, shall be a shareholder, or partner
in or an owner of or have any interest, direct or indirect, in any such
financial institution at the time of his appointment, he shall dispose of
his shares of stock or other evidences of ownership or property within 120
days from the date of his appointment. It is unlawful for the Director, any
supervisor or examiner to obtain any loan or gratuity from a financial
institution subject to the jurisdiction of the Department as herein
provided. If any other employee of the Department borrows from or becomes
indebted in an aggregate amount of $2,500 or more to any financial
institution subject to the jurisdiction of the Department, he shall make a
written report to the Director stating the date and amount of such loan or
indebtedness, the security therefor, if any, and the purpose or purposes
for which proceeds have been or are to be used.
(Source: P.A. 91-357, eff. 7-29-99.)
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