Section 1075.1830  Issuance of Capital Stock – Price

A converted savings bank shall issue and sell capital stock at a total price at least equal to the estimated pro forma market value of the stock issued in connection with the conversion, based on an independent valuation, as provided in Section 1075.2070.

(Source:  Added at 17 Ill. Reg. 8894, effective June 7, 1993)