Section 1075.1530  Unsafe and Unsound Practices

If the Director receives notice of failure to renew or of cancellation of the bond required by Section 4009(a) of the Act, or if such bond is determined, from examination or from reports made by the savings bank, to be inadequate when compared with the amounts of the bond carried by savings banks of comparable capital size, pursuing similar investment policies and similar management capabilities, or with amounts required by its federal insurer of accounts, he or she shall immediately pursue one of the remedies enumerated in Articles 9 and 10 of the Act.

(Source:  Amended at 30 Ill. Reg. 19068, effective December 1, 2006)