Sec. 2A-4. Rulemaking and organization.
131 words·~1 min read·
/il/chapter-205/act-620/2a-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 2A-4. Rulemaking and organization.
(a)The Department shall adopt rules for the administration of this Article, including, but not limited to: rules for defining statutory terms; applying for a certificate of authority; review, investigation, and approval of application for certificate of authority; capital requirements; office location and name; collateralizing fiduciary assets; and general corporate powers. The authority of this subsection
(a)is in addition to, and in no way limits, the authority of the Secretary under subsection
(a)of Section 5-1.
(b)Articles III, V, VI, VII, VIII, and IX of this Act shall apply to a special purpose trust company under this Article as if the special purpose trust company were a trust company authorized under Article II of this Act, subject to any rules adopted by the Department.