Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE38. FINANCIAL INSTITUTIONS |
PART1075. SAVINGS BANK ACT |
SUBPARTE. INVESTMENTS |
§1075.545. Home Equity Loans
Latest version.
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Savings banks are permitted, without limitation on the percentage of total assets, to establish revolving lines of credit on the security of a first or junior lien on the borrower's personal residence, based primarily on the borrower's equity. The proceeds of such loan may be used for any purpose.