Ill. Admin. Code tit. 38, § 1075.1450 - Organization Directors of Resulting Savings Bank
The persons named as organization directors in the Plan of Conversion shall be the organization directors of the resulting savings bank until the first election of organization directors thereafter, or until the expiration of their terms as organization directors, and shall have the power to take all necessary measures and to adopt regulations concerning the business and management of the resulting converted savings bank.
Notes
Amended at 30 Ill. Reg. 19068, effective December 1, 2006
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.