205 ILCS 650/4

in effect

(205 ILCS 650/4) (from Ch. 17, par. 2854) Sec. 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. (Source: P.A. 92-483, eff. 8-23-01.)

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.ilga.gov/legislation/ilcs/ilcs.aspFetched: 10/17/2026