Section 1075.2410  Proxy Statement – Use of New Capital

a)         State the principal purposes for which the net proceeds to the applicant from the capital stock to be sold are intended to be invested or otherwise used and the approximate amount intended for each such purpose.

b)         Detail of proposed investments are not to be given.  There needs be furnished, for example, only a brief statement of any investment or other activity of the applicant which will be affected materially by availability of the proceeds.  Examples of such activities may include expanded secondary market activities, larger scale lending projects, loan portfolio diversification, increased liquidity investments, repayment of debt, additional branch offices and other facilities, service corporation investments, and acquisitions.

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