205 ILCS 616/35

Current through Public Act 103-1052

Section 205 ILCS 616/35 - Limit on switch connections

No main office or branch of a financial institution shall at the same time be directly connected to more than one switch; provided, however, that

(a) no financial institution shall be deemed to be directly connected to a switch that is, or is owned directly or indirectly by, that financial institution, and

(b) nothing in this Act shall preclude

(1) a terminal that does not accept deposits from being connected to more than one switch,

(2) a network from utilizing more than one switch, or

(3) a network from utilizing a single switch.

205 ILCS 616/35

P.A. 89-310, eff. 1/1/1996.