2005 Illinois Code - 205 ILCS 105/ Illinois Savings and Loan Act of 1985. Article 12 - Miscellaneous Provisions
(205 ILCS 105/Art. 12 heading)
ARTICLE 12.
MISCELLANEOUS PROVISIONS
(205 ILCS 105/12‑1) (from Ch. 17, par. 3312‑1)
Sec. 12‑1.
Reservation of powers to General Assembly.
The General Assembly shall have power to amend, repeal or modify this
Act, and such amendments or modifications shall be binding upon any and all
associations operating under this Act.
(Source: P.A. 84‑543.)
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(205 ILCS 105/12‑2) (from Ch. 17, par. 3312‑2)
Sec. 12‑2.
Applicability of other Acts.
Whenever in any Act the terms "savings and loan", "building and loan",
"mutual building loan and homestead", "building loan and homestead", or
other similar name, are used with reference to associations organized for
the purposes of associations incorporated under this Act, such reference
shall be applicable to associations operating under this Act. Whenever
in any Act the terms "members", "shareholders" or "investors" are used in
connection with such associations, however named, the same shall refer to
members and holders of capital of associations operating under this Act.
(Source: P.A. 84‑543.)
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(205 ILCS 105/12‑3) (from Ch. 17, par. 3312‑3)
Sec. 12‑3.
Transition.
This Act is a successor Act to, and a
continuation of the regulation of savings and loan associations provided
in, the "Illinois Savings and Loan Act", approved July 5, 1955, as amended.
Associations subject to the predecessor Act shall be subject to this Act
from and after its effective date.
(Source: P.A. 84‑543.)
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(205 ILCS 105/12‑4) (from Ch. 17, par. 3312‑4)
Sec. 12‑4.
Repealer.
The "Illinois Savings and Loan Act", approved July
5, 1955, as amended, is repealed.
(Source: P.A. 84‑543.)
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(205 ILCS 105/12‑5) (from Ch. 17, par. 3312‑5)
Sec. 12‑5.
Effective date.
This Act takes effect July 1, 1985.
(Source: P.A. 84‑543.)
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