Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 5/47

(205 ILCS 5/47) (from Ch. 17, par. 358)

Sec. 47.

Reports to Commissioner.

(a) All State banks shall make
a full and accurate statement of their affairs at least 1 time
during each calendar quarter which shall be certified to, under
oath by the president, a vice-president or the cashier of such bank.  If the
statement is submitted in electronic form, the Commissioner may, in the call
for the report, specify the manner in which the appropriate officer of the bank
shall certify the statement of affairs. The
statement shall be according to the form which may be prescribed by the
Commissioner and shall exhibit in detail information concerning such
bank at the close of business of any day
the Commissioner may choose and designate in a call for such report.  Each
bank shall deliver its quarterly statement to the
location specified by the Commissioner within 30 calendar days of the
date of the call for such reports.  If the quarterly
statement is mailed, it must be postmarked within the period prescribed
for delivery, and if the quarterly statement is delivered in electronic form,
the bank shall generate and retain satisfactory proof that it has caused the
report to be delivered within the period prescribed for delivery.

(b) In addition to the foregoing reports, any bank which is the victim
of a shortage of funds in excess of $10,000, an apparent misapplication of the
bank's funds by an officer, employee or
director, or
any adverse legal action in an amount in excess of 10% of total
unimpaired
capital and unimpaired surplus of the bank, including but not limited to, the
entry of
an adverse money judgment against the bank or a write-off of assets of the
bank, shall report that information in writing to the Commissioner within 7
days of the occurrence.
Compliance with the time frames prescribed by the United States Department of
Treasury's Financial
Crimes Enforcement Network shall be deemed compliance with this Section.
Neither the bank, its
directors, officers, employees or its agents, in the preparation or filing
of the reports required by subsection (b) of this Section, shall be subject
to any liability
for libel, slander, or other charges resulting from information supplied in
such reports, except when the supplying of such information is done in a
corrupt or malicious manner or otherwise not in good faith.

(Source: P.A. 92-483, eff. 8-23-01.)