Definitions

Section 1075 Section 1075.1405  Definitions Words or terms that are defined in The Act shall retain the same meaning when used in these regulations. "APPLICANT" means an existing depository institution that has applied to convert to an Illinois savings bank pursuant to these provisions. "CONVERSION PLAN" means a plan adopted by an existing depository institution in order to convert into an Illinois savings bank pursuant to these regulations. "CONVERTING DEPOSITORY INSTITUTION" or "CONVERTING INSTITUTION" means an existing depository institution that is in the process of converting to an Illinois savings bank. "RESULTING SAVINGS BANK" means an existing depository institution that has converted to an Illinois savings bank pursuant to these regulations.