Section 205 ILCS 650/4 - Application; fees(a) The application for a license shall contain information and be accompanied by a reasonable fee as determined, by rule, by the Commissioner.(b) The Commissioner shall issue a license to a foreign bank to establish and maintain a representative office if the Commissioner finds: (1) the foreign bank is of good character and sound financial standing;(2) the management of the foreign bank and the proposed management of the representative office are adequate; and(3) the convenience and needs of persons to be served by the proposed representative office will be promoted.P.A. 85-204; 92-483, eff. 8/23/2001.