All Rules and Interpretive
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KEY:
- BCA means Business
Corporation Act
- BIA means Banking on
Illinois Act
- BSCA means Bank Service
Corporation Act
- CCIA means Credit Card
Issuance Act
- CDAA means Consumer
Deposit Account Act
- CFA means Corporate
Fiduciary Act
- CILA means Consumer
Installment Loan Act
- CPCNA means Check Printer
and Check Number Act
- EFTA means Electronic Fund
Transfer Act
- EFTTFA means Electronic
Fund Transfer Transmission Facility Act
- FBOA means Foreign Banking
Office Act
- FBROA means Foreign Bank
Representative Office Act
- IA means Interest Act
- IBA means Illinois Banking
Act
- IBHCA means Illinois Bank
Holding Company Act of 1957
- IFSDA means Illinois
Financial Services Development Act
- IIC means Illinois
Insurance Code
- IUIA means Illinois
Unemployment Insurance Act
- LLCA means Limited
Liability Company Act
- PA means Probate Act
- PRA means Pawnbroker
Regulation Act
- SBA means Savings Bank Act
- SFAA means Securities in
Fiduciary Accounts Act
- SLA means Savings and Loan
Act of 1985
- TIA means Title Insurance
Act
- TTA means Trust and
Trustees Act
- UCC means Uniform
Commercial Code
- ULPA means Uniform Limited
Partnership Act
* Interpretive Letter
superseded or made obsolete by statutory or regulatory changes
| Letter Number |
Date Issued |
Sections of Acts Construed |
Description |
| 01-01 |
3/9/2001 |
Section 48(1) |
Scope and effect of Section 48.1 of the Illinois Banking Act as compared to the federal privacy regulations enacted pursuant to the Gramm-Leach-Bliley Act |
| 01-02 |
4/26/2001 |
Section 32 IBA |
A loan to an LLC is not aggregated with a loan to another commonly owned LLC, provided each has sufficient collateral and income to justify the loans. |
| 01-03 |
7/9/2001 |
Section 32 IBA |
A loan to the shareholders of a corporation or to another business entity owned by those shareholders is not aggregated with the borrowings of the corporation, unless the Bank is looking to the corporation for repayment. |
| 01-04 |
3/18/2002 |
Section 32 IBA |
A loan to a land trust is not aggregated with the individual borrowings of a beneficiary unless the bank is actually looking to the beneficiary for repayment. |
| 01-05 |
4/11/2002 |
Section 32 IBA |
A loan to a shell corporation will be aggregated with the borrowings of another corporation when theultimate source of repayment is the other corporation. |
| 01-06 |
5/01/2002 |
Section 5(11) IBA |
A state chartered bank may provide consumer deposit account holders with the required annual disclosure by electronic means. In addition, a state chartered bank or trust company may provide customers periodic account statements by electronic means. |
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