Ill. Admin. Code tit. 38 § 1075.470

Current through Register Vol. 48, No. 50, December 13, 2024

Section 1075.470 - Deceptively Similar Names

a) No savings bank may adopt or use any name deceptively similar to that of another current existing savings bank or financial institution that is located within the area as defined as follows:

1) within the counties of Cook, Lake, DuPage, McHenry, Kane and Will, a radius of one mile of the main office of another savings bank or other financial institution; and

2) within all other counties of the State, excluding those specifically identified in subsection (a), a radius of 50 miles of a savings bank or other financial institution.

b) For purposes of Subpart D of this Part, the determination of the deceptive similarity of a name shall be made by the Director or other person or persons as are authorized to act on the Director's behalf.

c) A savings bank chartered under the Act must use the words "Savings Bank" or the initials "SB" in its name.

Ill. Admin. Code tit. 38, § 1075.470

Amended at 30 Ill. Reg. 19068, effective December 1, 2006