Article 7 - Supervision
(205 ILCS 105/Art. 7 heading) ARTICLE 7. SUPERVISION
(205 ILCS 105/7‑1) (from Ch. 17, par. 3307‑1)
Sec. 7‑1. Office of the Commissioner of Savings and Residential Finance abolished. The Office of the Commissioner of Savings and Residential Finance is abolished and its functions are transferred to the Office of Banks and Real Estate as provided in the Office of Banks and Real Estate Act.
(Source: P.A. 89‑508, eff. 7‑3‑96.) |
(205 ILCS 105/7‑2) (from Ch. 17, par. 3307‑2)
Sec. 7‑2. Liability. The Commissioner shall not be subject to any civil liability or penalty, nor to any criminal prosecution, for any error in judgment or discretion made in good faith and upon reasonable grounds in any action taken or omitted by him in his official capacity.
(Source: P.A. 89‑508, eff. 7‑3‑96.) |
(205 ILCS 105/7‑3) (from Ch. 17, par. 3307‑3)
Sec. 7‑3. Personnel, records, files, actions and duties, etc.
(a) The Secretary shall appoint, subject to applicable provisions of the Personnel Code, a supervisor, such examiners, employees, experts and special assistants as may be necessary to carry out effectively this Act. The Secretary shall require each supervisor, examiner, expert and special assistant employed or appointed by him to give bond, with security to be approved by the Secretary, not less in any case than $15,000, conditioned for the faithful discharge of his duties. The premium on such bond shall be paid by the Secretary from funds appropriated for that purpose. The bond, along with verification of payment of the premium on such bond, shall be filed in the office of the Secretary of State.
(b) The Secretary shall have the following duties and powers:
(1) To exercise the rights, powers and duties set
| forth in this Act or in any other related Act; | |
(2) To establish such regulations as may be |
| reasonable or necessary to accomplish the purposes of this Act; | |
(3) To direct and supervise all the administrative |
| and technical activities of this office and create an Advisory Committee which upon request will make recommendations to him; | |
(4) To make an annual report regarding the work of |
| his office as he may consider desirable to the Governor, or as the Governor may request; | |
(5) To cause a suit to be filed in his name to |
| enforce any law of this State that applies to an association, subsidiary of an association, or holding company operating under this Act and shall include the enforcement of any obligation of the officers, directors or employees of any association; | |
(6) To prescribe a uniform manner in which the books |
| and records of every association are to be maintained; and | |
(7) To establish reasonable and rationally based fee |
| structures for each association and holding company operating under this Act and for their service corporations and subsidiaries, which fees shall include but not be limited to annual fees, application fees, regular and special examination fees, and such other fees as the Secretary establishes and demonstrates to be directly resultant from his responsibilities under this Act and as are directly attributable to individual entities operating under this Act. | |
(Source: P.A. 95‑1047, eff. 4‑6‑09.) |
(205 ILCS 105/7‑3.05)
Sec. 7‑3.05. Regulatory fees.
(a) For the fiscal year beginning July 1, 2007 and every year thereafter, each association and each service corporation operating under the provisions of this Act shall pay a fixed fee of $520, plus a variable fee based on the total assets of the association or service corporation at the following rates:
28.75