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 |
§1075.2140. Certain Agreement to Transfer and Transfers of Ownership in Rights or Securities Prohibited
Latest version.
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Before completion of a conversion, no person may transfer or enter into any agreement or understanding to transfer the legal or beneficial ownership of conversion subscription rights, or the underlying securities, to the account of another.
(Source: Added at 17 Ill. Reg. 8894, effective June 7, 1993)