Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE38. FINANCIAL INSTITUTIONS |
PART1075. SAVINGS BANK ACT |
SUBPARTO. CONVERSION OF MUTUAL SAVINGS BANK TO CAPITAL STOCK SAVINGS BANK |
§1075.1865. Savings Account Holder to Receive Withdrawable Savings Accounts – Amount
Latest version.
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Each deposit account holder of the converting savings bank shall receive, without payment, a deposit account or accounts in the converted savings bank equal in amount, rate of return and general terms, to the withdrawable account holder's deposit account or accounts in the pre-conversion mutual savings bank.
(Source: Amended at 30 Ill. Reg. 19068, effective December 1, 2006)