§396.110. Purpose

A corporate fiduciary which proposes to establish a subsidiary, whether by incorporating the subsidiary or by acquiring the subsidiary, shall apply, on an application specified by the Commissioner, for approval from the Commissioner, not less than 90 days prior to commencing business by the subsidiary if newly incorporated, or prior to its acquisition if it is acquired.

 

(Source:  Section 396.110 renumbered from Section 396.20 at 20 Ill. Reg. 10825, effective August 1, 1996)