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(205 ILCS 205/9012)
(from Ch. 17, par. 7309-12)
Disclosure of reports of examinations and confidential
supervisory information; limitations.
(a) Any report of examination, visitation, or investigation prepared by
under this Act, any report of examination, visitation, or investigation
prepared by the state
regulatory authority of another state that examines a branch of an Illinois
State savings bank in
that state, any document or record prepared or obtained in connection with or
relating to any
examination, visitation, or investigation, and any record prepared or obtained
Commissioner to the extent that the record summarizes or contains information
any report, document, or record described in this subsection shall be deemed
supervisory information. "Confidential supervisory information" shall not
include any information or
record routinely prepared by a savings bank and maintained in the ordinary
course of business or any
information or record that is required to be made publicly available pursuant
to State or federal law
or rule. Confidential supervisory information shall be the property of the
Commissioner and shall
only be disclosed under the circumstances and for the purposes set forth in
The Commissioner may disclose confidential supervisory information only under
(1) The Commissioner may furnish confidential
supervisory information to federal and state depository institution regulators, or any official or examiner thereof duly accredited for the purpose. Nothing contained in this Act shall be construed to limit the obligation of any savings bank to comply with the requirements relative to examinations and reports nor to limit in any way the powers of the Commissioner relative to examinations and reports.
(2) The Commissioner may furnish confidential
supervisory information to the United States or any agency thereof that to any extent has insured a savings bank's deposits, or any official or examiner thereof duly accredited for the purpose. Nothing contained in this Act shall be construed to limit the obligation relative to examinations and reports of any savings bank in which deposits are to any extent insured by the United States or any agency thereof nor to limit in any way the powers of the Commissioner with reference to examination and reports of the savings bank.
(3) The Commissioner may furnish confidential
supervisory information to the appropriate law enforcement authorities when the Commissioner reasonably believes a savings bank, which the Commissioner has caused to be examined, has been a victim of a crime.
(4) The Commissioner may furnish confidential
supervisory information related to a savings bank, which the Commissioner has caused to be examined, to the administrator of the Uniform Disposition of Unclaimed Property Act.
(5) The Commissioner may furnish confidential
supervisory information relating to a savings bank, which the Commissioner has caused to be examined, relating to its performance of obligations under the Illinois Income Tax Act and the Illinois Estate and Generation-Skipping Transfer Tax Act to the Illinois Department of Revenue.
(6) The Commissioner may furnish confidential
supervisory information relating to a savings bank, which the Commissioner has caused to be examined, under the federal Currency and Foreign Transactions Reporting Act, 31 United States Code, Section 1051 et seq.
(7) The Commissioner may furnish confidential
supervisory information to any other agency or entity that the Commissioner determines to have a legitimate regulatory interest.
(8) The Commissioner may furnish confidential
supervisory information as otherwise permitted or required by this Act and may furnish confidential supervisory information under any other statute that by its terms or by regulations promulgated thereunder requires the disclosure of financial records other than by subpoena, summons, warrant, or court order.
(9) At the request of the affected savings bank, the
Commissioner may furnish confidential supervisory information relating to the savings bank, which the Commissioner has caused to be examined, in connection with the obtaining of insurance coverage or the pursuit of an insurance claim for or on behalf of the savings bank; provided that, when possible, the Commissioner shall disclose only relevant information while maintaining the confidentiality of financial records not relevant to such insurance coverage or claim and, when appropriate, may delete identifying data relating to any person.
(10) The Commissioner may furnish a copy of a report
of any examination performed by the Commissioner of the condition and affairs of any electronic data processing entity to the savings banks serviced by the electronic data processing entity.
(11) In addition to the foregoing circumstances, the
Commissioner may, but is not required to, furnish confidential supervisory information under the same circumstances authorized for the savings bank pursuant to subsection (b) of this Section, except that the Commissioner shall provide confidential supervisory information under circumstances described in paragraph (3) of subsection (b) of this Section only upon the request of the savings bank.
(b) A savings bank or its officers, agents, and employees may disclose
supervisory information only under the following circumstances:
(1) to the board of directors of the savings bank, as
well as the president, vice-president, cashier, and other officers of the savings bank to whom the board of directors may delegate duties with respect to compliance with recommendations for action, and to the board of directors of a savings bank holding company that owns at least 80% of the outstanding stock of the savings bank or other financial institution.
(2) to attorneys for the savings bank and to a
certified public accountant engaged by the savings bank to perform an independent audit; provided that the attorney or certified public accountant shall not permit the confidential supervisory information to be further disseminated.
(3) to any person who seeks to acquire a controlling
interest in, or who seeks to merge with, the savings bank; provided that the person shall agree to be bound to respect the confidentiality of the confidential supervisory information and to not further disseminate the information other than to attorneys, certified public accountants, officers, agents, or employees of that person who likewise shall agree to be bound to respect the confidentiality of the confidential supervisory information and to not further disseminate the information.
(4) to the savings bank's insurance company, if the
supervisory information contains information that is otherwise unavailable and is strictly necessary to obtaining insurance coverage or pursuing an insurance claim for or on behalf of the savings bank; provided that, when possible, the savings bank shall disclose only information that is relevant to obtaining insurance coverage or pursuing an insurance claim, while maintaining the confidentiality of financial information pertaining to customers; and provided further that, when appropriate, the savings bank may delete identifying data relating to any person.
The disclosure of confidential supervisory information by a savings bank
pursuant to this
subsection (b) and the disclosure of information to the Commissioner or other
regulatory agency in
connection with any examination, visitation, or investigation shall not
constitute a waiver of any
legal privilege otherwise available to the savings bank with respect to the
(c) (1) Notwithstanding any other provision of this Act or any other law,
supervisory information shall be the property of the Commissioner and shall be
disclosure to any person except as provided in this Section. No person in
confidential supervisory information may disclose that information for any
reason or under any
circumstances not specified in this Section without the prior authorization of
Any person upon whom a demand for production of confidential supervisory
information is made,
whether by subpoena, order, or other judicial or administrative process, must
production of the confidential supervisory information and must notify the
Commissioner of the
demand, at which time the Commissioner is authorized to intervene for the
enforcing the limitations of this Section or seeking the withdrawal or
termination of the attempt to
compel production of the confidential supervisory information.
(2) Any request for discovery or disclosure of confidential supervisory
by subpoena, order, or other judicial or administrative process, shall be made
Commissioner, and the Commissioner shall determine within 15 days whether to
information pursuant to procedures and standards that the Commissioner shall
establish by rule. If
the Commissioner determines that such information will not be disclosed, the
decision shall be subject to judicial review under the provisions of the
Law, and venue shall be in either Sangamon County or Cook County.
(3) Any court order that compels disclosure of confidential supervisory
information may be
immediately appealed by the Commissioner, and the order shall be automatically
stayed pending the
outcome of the appeal.
(d) If any officer, agent, attorney, or employee of a savings bank knowingly
furnishes confidential supervisory information in violation of this Section,
Commissioner may impose a civil monetary penalty up to $1,000 for the violation
the officer, agent, attorney, or employee.
Subject to the limits of this Section, the
Commissioner also may promulgate regulations to set procedures and
(1) All fixed orders and opinions made in cases of
appeals of the Commissioner's actions.
(2) Statements of policy and interpretations adopted
by the Commissioner's office, but not otherwise made public.
(3) Nonconfidential portions of application files,
including applications for new charters. The Commissioner shall specify by rule as to what part of the files are confidential.
(4) Quarterly reports of income, deposits, and
(Source: P.A. 93-271, eff. 7-22-03.)