Ill. Admin. Code tit. 38 § 190.220

Current through Register Vol. 48, No. 45, November 8, 2024

Section 190.220 - Registration of Out of State Credit Unions

A credit union organized and duly chartered as a credit union in another state shall:

a) Register with the Secretary prior to operating in this State, on a form specified by the Secretary, which shall include or be accompanied by the following information:

1) the name of the credit union and the county or state under which it is organized;

2) the common bond or field of membership the credit union is authorized to serve;

3) the proposed location of any branch or service center within this State; and

4) the credit union's most recent examination report and audited financial statement.

b) Update the information provided under subsection (a)(2) within 30 days after receiving approval of a change in common bond or field of membership from the credit union's chartering agency, on a form specified by the Secretary.

c) Update the information provided under subsection (a)(3) as to any proposed change in location or additional location for any branch or service center within this State, on a form specified by the Secretary.

d) Pay to the Director an annual registration fee of $1000, plus $250 for each branch facility located in Illinois. The fee shall be payable to the Secretary by January 1 of each calendar year, for the current calendar year.

Ill. Admin. Code tit. 38, § 190.220

Amended at 37 Ill. Reg. 12450, effective July 16, 2013