Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

205 ILCS 645/17

(205 ILCS 645/17) (from Ch. 17, par. 2724)

Sec. 17. Fees; examination; receivership.

Upon applying for a certificate of
authority to open and maintain a
banking office, a foreign
banking corporation shall pay to the Commissioner an application fee
equivalent to the reasonable expenses of examination for a charter payable
by a State bank under Section 13 of the Illinois Banking Act.

In addition, a foreign banking corporation holding a certificate of
authority and maintaining a banking office shall be subject to examination and
other fees (comparable to
those payable by a State bank) imposed by the Commissioner pursuant to
Section 48 of the Illinois Banking Act based on the assets of such foreign
banking corporation located in the State of Illinois.

(b) In addition to the fees authorized in subsection (a) of this Section, the Secretary shall assess reasonable receivership fees and establish a Non-insured Institutions Receivership account in the Bank and Trust Company Fund to provide for the expenses that arise from the administration of the receivership of a foreign banking corporation under this Act. The aggregate of such assessments shall be paid into the Non-insured Institutions Receivership account in the Bank and Trust Company Fund. The assessments for this account shall be levied until the sum of $4,000,000 has been deposited into the account from assessments authorized herein, whereupon the Non-insured Institutions Receivership account assessment shall be abated. If a receivership of a non-insured institution under this Act requires expenditures from this account, then assessments may be reinstituted until the balance in the Non-insured Institutions Receivership account arising from assessments is restored to $4,000,000.

(c) The Secretary may by rule establish a reasonable manner of assessing the receivership assessments under this Section.

(Source: P.A. 96-1365, eff. 7-28-10.)