Section 750.50  Enrollment Procedures

            New Participants may enroll in the Program as follows:

a)         Participants shall select an Illinois financial institution certified as a Program Depository by the Treasurer.  A list of financial institutions so certified is available from the H.O.M.E. office, or by calling 312-814-1700.

b)         Each Program Depository will determine the type or types of investment options which will be offered to Program Participants.  Permissible investments include, but are not limited to statement savings accounts, passbook savings accounts, certificates of deposit, and securities accounts.  A representative of the Program Depository will present the investment option or options available at that Program Depository to the Participant, who shall then make an initial deposit.  The investment account must be specifically designated as a H.O.M.E. account and must be insured in one of the following: the Federal Deposit Insurance Corporation, the National Credit Union Association, or the Securities Investors Protection Corporation.

c)         Where the selection for the investment option is a Passbook Savings Account, the initial deposit amount shall be no less than $100.  A Program Depository need not offer a Passbook Savings Account as an investment option.  The Program Depository may determine the minimum deposit for alternative investment options.  Subsequent deposits may be made in any amount subject to the requirements of the Program Depository.

(Source:  Amended at 22 Ill. Reg. 15631, effective August 24, 1998)