Ill. Admin. Code tit. 38 § 345.460

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

Section 345.460 - Examination Authority and Cooperation

a) Pursuant to the Secretary's authority under the ILCRA, including, but not limited to, Sections 35-15 and 35-25 of ILCRA, the Secretary or the Secretary's appointees may examine the entire books, records, documents, and operations of each bank or its affiliates or agents, and may examine any banks' or affiliates' or agents' officers, directors, employees, and agents under oath.

b) A bank shall be required to fully cooperate in any examination conducted pursuant to this Part. Cooperation includes, but is not limited to:

1) timely and full production of books, records, and documents, in any reasonable format requested by the Department; and

2) ensuring all officers, directors, employees, and agents of the bank are available for depositions or interviews upon reasonable notice.

c) Except as otherwise specified in ILCRA or this Part, examination related to this Part shall be conducted consistent with Section 48(2.1) of the Illinois Banking Act [205 ILCS 5], 38 Ill. Adm. Code 381, and accompanying guidelines.

Ill. Admin. Code tit. 38, § 345.460

Added at 48 Ill. Reg. 7095, effective 5/1/2024