Section 1075.2540  Offering Circular – Additional Current Information Required

Each offering circular shall, as of its respective dates of issuance, include, to the extent available, the following additional current information to the extent that such information is not already included in the proxy statement:

a)         Information with respect to the vote of members upon the plan of conversion and any other proposals considered at the meeting of members.

b)         Information with respect to any recent material developments in the business or affairs of the applicant.

c)         Information with respect to the trading market that is expected to exist for the capital stock following the conversion.

d)         Information, on the outside front cover page, summarizing the results of any separate subscription offering including the number of shares sold to eligible account holders, voting members and others, the price at which the shares were sold, and the number of unsubscribed shares.

e)         The information required by Section 1075.2380(e)(1) and (f).

f)         Any other information necessary to make such offering circular current, including full financial statements of the applicant within 6 months before the date of issuance of such offering circular.  In addition, a subscription offering circular shall contain any more recent financial statements which, at the time the subscription offering begins, it can be determined will be required to be included in an offering circular to be used in the direct community offering or public offering pursuant to this subsection.

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