§1075.1450. Organization Directors of Resulting Savings Bank

The persons named as organization directors in the Plan of Conversion shall be the organization directors of the resulting savings bank until the first election of organization directors thereafter, or until the expiration of their terms as organization directors, and shall have the power to take all necessary measures and to adopt regulations concerning the business and management of the resulting converted savings bank.

 

(Source:  Amended at 30 Ill. Reg. 19068, effective December 1, 2006)