(205 ILCS 205/1005) (from Ch. 17, par. 7301-5)
Sec. 1005.
Insurance of accounts.
Each savings bank operating under this Act must secure
insurance of its deposit accounts backed by the full
faith and credit of the United States government prior to commencing
business and may, subject to the Commissioner's regulation, secure or
participate in efforts to obtain insurance of those deposits
that are in excess of the amount eligible for federal
insurance of accounts. The insurance shall be known as
"excess insurance".
(Source: P.A. 86-1213.)
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