Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 5/5c

(205 ILCS 5/5c) (from Ch. 17, par. 312.2)

Sec. 5c. Ownership of a bankers' bank.

A bank may acquire shares
of stock of a bank or holding company which owns or controls such bank if
the stock of such bank or company is owned exclusively (except to the extent
directors' qualifying shares are required by law) by depository institutions
or depository institution holding companies and such bank or company and
all subsidiaries thereof are engaged exclusively
in providing services to or for other financial institutions, their
holding companies, and the officers,
directors, and employees of such institutions and companies, and in providing
 services at the request of other financial institutions
or their holding companies (also referred to as a "bankers' bank").  The bank may also provide products and services to its officers, directors, and employees. In no
event shall the total amount of such stock
held by a bank in such bank or holding company exceed 10 percent of its
capital and surplus (including undivided profits) and in no event shall
a bank acquire more than 15 percent of any class of voting securities of
such bank or company.

(Source: P.A. 95-924, eff. 8-26-08; 96-856, eff. 12-31-09.)