(205 ILCS 650/4) (from Ch. 17, par. 2854)
Sec. 4. Application; fees.
(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
financial standing;
(2) the management of the foreign bank and the
proposed management of the representative office are adequate; and
(3) the convenience and needs of persons to be served
by the proposed representative office will be promoted.
(Source: P.A. 92-483, eff. 8-23-01.)
Sections: Previous 1 2 3 4 5 6 7 7.5 8 Next
Last modified: February 18, 2015