Illinois Compiled Statutes 205 ILCS 205/11008 – Unauthorized participation by convicted individual
Current as of: 2024 | Check for updates
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(a) Except with the prior written consent of the Commissioner, no person who has been convicted of any criminal offense involving dishonesty or a breach of trust may own or control directly or indirectly more than 0.001% of the capital stock of, receive benefit directly or indirectly from, or participate directly or indirectly in any manner in the affairs of a savings bank.
(b) A savings bank may not permit participation by a person described in subsection (a).
For details, see § Ill. Comp. Stat. 730 ILCS 5/5-4.5-40
(c) Whoever knowingly violates subsection (a) or (b) is guilty of a Class 3 felony and may be fined not more than $10,000 for each day of violation.
(b) A savings bank may not permit participation by a person described in subsection (a).
Attorney's Note
Under the Illinois Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 3 felony | between 2 and 5 years | up to $25,000 |
(c) Whoever knowingly violates subsection (a) or (b) is guilty of a Class 3 felony and may be fined not more than $10,000 for each day of violation.