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Illinois Administrative Code (Last Updated: March 27, 2024) |
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TITLE38. FINANCIAL INSTITUTIONS |
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PART1075. SAVINGS BANK ACT |
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SUBPARTO. CONVERSION OF MUTUAL SAVINGS BANK TO CAPITAL STOCK SAVINGS BANK |
| § 1075.1800. Subpart Exclusive – Prohibition on Conversion Without Approval – Waiver of Requirements |
| § 1075.1805. Forms |
| § 1075.1810. Request of Noncompliance Requirements [Repealed] |
| § 1075.1815. Definitions |
| § 1075.1820. Prohibition on Approval of Certain Applications for Conversion |
| § 1075.1825. Requirements of Plan of Conversion |
| § 1075.1830. Issuance of Capital Stock – Price |
| § 1075.1835. Stock Purchase Subscription Rights – Eligible Account Holders |
| § 1075.1840. Stock Purchase Subscription Rights – Received by Officers, Organization Directors, and their Associates – Subordination |
| § 1075.1845. Supplemental Share Purchase Subscription Rights – Supplemental Eligible Account Holder – Conditions |
| § 1075.1850. Voting Members Who Are Not Eligible Account Holders |
| § 1075.1855. Sale of Shares Not Sold in Subscription Offering – Methods – Conditions |
| § 1075.1860. Uniform Sales Price of Shares Required – Application to Specify Arrangements on Sale of Shares Not Sold in Subscription Offering |
| § 1075.1865. Savings Account Holder to Receive Withdrawable Savings Accounts – Amount |
| § 1075.1870. Liquidation Account – Establishment and Maintenance Required |
| § 1075.1875. Establishment of Eligibility Record Date Required |
| § 1075.1880. Voting Rights |
| § 1075.1885. Amendment and Termination of Plan of Conversion |
| § 1075.1890. Restriction on Sale of Shares of Stock by Organization Directors and Officers |
| § 1075.1895. Conditions on Shares of Stock Subject to Restriction on Sale |
| § 1075.1900. Registration of Securities – Marketing of Securities – Listing of Shares on Securities Exchange or NASDAQ Quotation System |
| § 1075.1905. Reasonable Expenses Required |
| § 1075.1910. Employee Stock Benefit Plan – Priority. |
| § 1075.1915. Employee Stock Benefit Plan – Contributions |
| § 1075.1920. Plan of Conversion – Prohibited Provisions |
| § 1075.1925. Optional Provisions in Plan of Conversion |
| § 1075.1930. Approval of Other Provisions |
| § 1075.1935. Amount of Qualifying Deposit of Eligible Account Holder or Supplemental Eligible Account Holder |
| § 1075.1940. Liquidation Account – Establishment Required – Amount – Function |
| § 1075.1945. Liquidation Account – Maintenance Required – Subaccounts |
| § 1075.1950. Liquidation Account – Distribution Upon Complete Liquidation |
| § 1075.1955. Liquidation Account – Determination of Subaccount Balances |
| § 1075.1960. Reduction of Subaccount Balance |
| § 1075.1965. Converted Savings Bank Prohibited from Repurchasing its Stock Without Approval |
| § 1075.1970. Limitation on Cash Dividends |
| § 1075.1975. Dividends on Preferred Stock |
| § 1075.1980. Prohibitions on Offer, Sale, or Purchase of Securities |
| § 1075.1985. Acquisitions of Control of a Converted Savings Bank |
| § 1075.1990. Articles of Incorporation – Restrictions Permitted |
| § 1075.1995. Confidentiality of Consideration to Convert – Remedial Measures for Breach |
| § 1075.2000. Public Statement Authorized |
| § 1075.2005. Adoption of Plan of Conversion – Notice to and Inspection by Account Holders – Statement and Letter – Press Release Authorized |
| § 1075.2010. Statement, Letter and Press Release – Content Permitted |
| § 1075.2015. Statement, Letter and Press Release – Contents Prohibited – Inquiries |
| § 1075.2020. Notices of Filing of Application – Requests for Subscription Offering Circular |
| § 1075.2025. Filing of Notice and Affidavit of Publication Required |
| § 1075.2030. Application Available for Public Inspection – Confidential Information |
| § 1075.2035. Solicitation of Proxies; Proxy Statements |
| § 1075.2040. Vote by Members |
| § 1075.2045. Offers and Sales of Securities – Prohibitions |
| § 1075.2050. Distribution of Offering Circulars Authorized |
| § 1075.2055. Preliminary Offering Circular for Subscription Offering – Estimated Subscription Price Range Required |
| § 1075.2060. Review of Price Information by the Director |
| § 1075.2065. Underwriting Commission |
| § 1075.2070. Consideration of Pricing Information by the Director – Guidelines |
| § 1075.2075. Submission of Information by Applicant |
| § 1075.2080. Subscription Offering – Distribution of Order Forms for the Purchase of Shares |
| § 1075.2085. Order Forms – Final Offering Circular and Detailed Instructions |
| § 1075.2090. Subscription Price |
| § 1075.2095. Order Form – Contents |
| § 1075.2100. Order Form – Additional Provision Authorized – Payment by Withdrawal |
| § 1075.2105. Time Period for Completion of Sale of all Shares of Capital Stock |
| § 1075.2110. Continuity of Corporate Existence |
| § 1075.2115. Application to Furnish Information |
| § 1075.2120. Additional Filing Requirements |
| § 1075.2125. Availability for Conferences in Advance of Filing of Application – Refusal of Prefiling Review |
| § 1075.2130. Appeal from Refusal to Approve Application |
| § 1075.2135. Postconversion Reports |
| § 1075.2140. Certain Agreement to Transfer and Transfers of Ownership in Rights or Securities Prohibited |
| § 1075.2145. Certain Offers and Announcements on Securities Prohibited |
| § 1075.2150. Certain Offers and Acquisitions Prohibited |
| § 1075.2155. Definitions – Certain Transfers, Offers and Acquisitions Prohibited |
| § 1075.2160. Amendments to Charter Required in Application – Articles of Incorporation – Filing of Certificate Required – Contents – Issuance and Filing of Authorization Certificate |
| § 1075.2170. Sale of Control in Connection with the Conversion of a Mutual Savings Bank to Capital Stock Savings Bank - Undercapitalized Mutual Savings Bank |
| § 1075.2175. Conversion of a Savings Bank in Connection with the Formation of a Holding Company |
| § 1075.2200. Application – Application Requirements |
| § 1075.2210. Application – Filing the Application and Fees |
| § 1075.2220. Application – Preparing the Application |
| § 1075.2230. Application – Application Contents |
| § 1075.2240. Application – Application Exhibits |
| § 1075.2300. Proxy Statement – Information Required in Conversion Proxy Statement |
| § 1075.2310. Proxy Statement – Notice of Meeting |
| § 1075.2320. Proxy Statement – Revocability of Proxy |
| § 1075.2330. Proxy Statement – Persons Making the Solicitations |
| § 1075.2340. Proxy Statement - Voting Rights and Vote Required for Approval |
| § 1075.2350. Proxy Statement – Organization Directors and Executive Officers |
| § 1075.2360. Proxy Statement – Management Remuneration |
| § 1075.2370. Proxy Statement – Business of the Applicant |
| § 1075.2380. Proxy Statement – Description of the Plan of Conversion |
| § 1075.2390. Proxy Statement – Description of Capital Stock |
| § 1075.2400. Proxy Statement – Capitalization |
| § 1075.2410. Proxy Statement – Use of New Capital |
| § 1075.2420. Proxy Statement – New Charter, Bylaws, or Other Documents |
| § 1075.2430. Proxy Statement – Other Matters |
| § 1075.2440. Proxy Statement – Financial Statements |
| § 1075.2450. Proxy Statement – Consents of Experts and Reports |
| § 1075.2460. Proxy Statement – Attachments |
| § 1075.2500. Offering Circular |
| § 1075.2510. Offering Circular – Certain Manner of Presentation of Required Information Prohibited |
| § 1075.2520. Offering Circular – Certain Named Persons – Filing of Written Consent Required |
| § 1075.2530. Offering Circular – Information Required |
| § 1075.2540. Offering Circular – Additional Current Information Required |
| § 1075.2550. Offering Circular – Statement Required in Offering Circulars |
| § 1075.2560. Offering Circular – Preliminary Offering Circular |
| § 1075.2570. Offering Circular – Information with Respect to Exercise of Subscription Rights |
| § 1075.2580. Offering Circular – Information with Respect to Public Offering or Direct Community Offering |