Illinois Compiled Statutes
205 ILCS 205/ - Savings Bank Act.
Article 12 - Compliance Review

(205 ILCS 205/Art. 12 heading)

(205 ILCS 205/12001)
Sec. 12001.
Compliance review.
(a) As used in this Section:
"Affiliate" means a corporation whose stock is at least 80% owned by
the depository institution or a corporation that directly or indirectly owns
at least 80% of the depository institution.
"Depository institution" means a State or national bank, a State or federally
chartered savings and loan association, or a State or federally chartered
savings bank that is engaged in the business of banking in Illinois as
appropriate.
"Compliance review committee" means:
"Compliance review documents" means documents prepared in connection with a
review or evaluation conducted by or for a
compliance review committee.
"Person" means an individual, a group of individuals, a board committee,
a partnership, a firm, an association, a corporation, or any other entity.
(b) This Section applies to compliance review committees whose functions
are to evaluate and seek to improve any of the following:
(c) Except as provided in subsection (d) of this Section:
(d) This Section does not apply to: (1) compliance review committees on
which
individuals serving on or at the direction of the compliance review committee
have
management responsibility for the operations, records, employees, or activities
being examined or evaluated by the compliance review committee and (2) any
civil action initiated by any federal or State regulatory agency.
(e) This Section shall not be construed to limit the discovery or
admissibility in any civil action of any documents other than compliance review
documents.

(Source: P.A. 89-364, eff. 8-18-95.)