Final Approval of the Conversion

Section 1075 Section 1075.1435  Final Approval of the Conversion a)         Upon a determination by the Director that all applicable requirements of law have been met, including the surrender of the original charter, the Director shall issue to the applicant a Certificate of Authority to Operate. The savings bank shall then file its amended charter and Articles of Incorporation as an Illinois savings bank with the County Recorder in the county in which the savings bank is headquartered. b)         Upon filing, the applicant shall be an Illinois savings bank under sole supervision of the Director and of the Federal Deposit Insurance Corporation.