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Code · Illinois · Chapter 205 — FINANCIAL REGULATION · Act 616

Sec. 35. Limit on switch connections.

99 words·~1 min read·/il/chapter-205/act-616/35

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Sec. 35. Limit on switch connections. No main office or branch of a financial institution shall at the same time be directly connected to more than one switch; provided, however, that
(a)no financial institution shall be deemed to be directly connected to a switch that is, or is owned directly or indirectly by, that financial institution, and
(b)nothing in this Act shall preclude
(1)a terminal that does not accept deposits from being connected to more than one switch,
(2)a network from utilizing more than one switch, or
(3)a network from utilizing a single switch.
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