38 Ill. Adm. Code 1075.1935
Amount of Qualifying Deposit of Eligible Account Holder or Supplemental Eligible Account Holder
Section 1075
Section 1075.1935 Amount of
Qualifying Deposit of Eligible Account Holder or Supplemental Eligible Account
Holder
a) Unless otherwise provided in the plan of conversion, the
amount of the qualifying deposit of an eligible account holder or supplemental
eligible account holder shall be the total of the deposit balances in the
eligible account holder's or supplemental eligible account holder's deposit
accounts in the converting savings bank as of the close of business on the
eligibility record date or supplemental eligibility record date. However, the
plan of conversion may provide that any deposit accounts with total deposit
balances of less than $1000 (or any lesser amount) shall not constitute a
qualifying deposit.
b) As used in this Section, the term "deposit account"
includes a predecessor or successor account of a given savings account which is
held only in the same right and capacity and on the same terms as the given
deposit account. However, the plan of conversion may provide for lesser
requirements for determining predecessor or successor accounts.