Illinois Compiled Statutes 205 ILCS 650/4 – Application; fees
Current as of: 2024 | Check for updates
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(a) The application for a license shall contain information and be accompanied by a reasonable fee as determined, by rule, by the Commissioner.
(b) The Commissioner shall issue a license to a foreign bank to establish and maintain a representative office if the Commissioner finds:
(1) the foreign bank is of good character and sound
(b) The Commissioner shall issue a license to a foreign bank to establish and maintain a representative office if the Commissioner finds:
(1) the foreign bank is of good character and sound
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financial standing;
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(2) the management of the foreign bank and the
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proposed management of the representative office are adequate; and
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(3) the convenience and needs of persons to be served
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by the proposed representative office will be promoted.
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