Form IL581-0139 Savings Bank Holding Company Registration - Illinois

Form IL581-0139, also known as the Savings Bank Holding Company Registration - Illinois, is a document required by the state of Illinois for any company that plans to hold a controlling interest in a savings bank. This form requests detailed information about the holding company, including its structure, shareholders, and capital resources. The objective of this form is to ensure that the holding company meets the regulatory standards set by the State to safeguard the functioning and integrity of the financial institution, as well as to protect the rights and assets of consumers using the bank's services.

The form is usually reviewed by Illinois Department of Financial and Professional Regulation (IDFPR). The details provided through the form will be used for compliance review and ensuring the solvency and integrity of the holding company and its subsidiary savings bank.

The IL581-0139 Savings Bank Holding Company Registration - Illinois form is filed by the Savings Bank Holding Company that is established and functioning in the state of Illinois, USA. This form is used to register the holding company with the Department of Financial and Professional Regulation in Illinois. It provides necessary information about the company including its assets, liabilities, and overall financial status.

FAQ

Q: What is Form IL581-0139?A: Form IL581-0139 is a 'Savings Bank Holding Company Registration' document used in the state of Illinois, USA. It is typically required for companies who wish to become a holding company for a savings bank.

Q: What is a Savings Bank Holding Company?A: A savings bank holding company is a corporation, partnership, or other entity that directly or indirectly controls a savings bank.

Q: Who needs to fill out Form IL581-0139?A: Any entity that wishes to become a savings bank holding company in the state of Illinois needs to fill out Form IL581-0139.

Q: What kind of information is required in Form IL581-0139?A: This form typically asks for basic entity details, the names and information of controlling members, details about the controlled savings bank, and financial information about the entity.

Q: What is the importance of Form IL581-0139?A: Form IL581-0139 is crucial as it helps the Illinois Department of Financial and Professional Regulation to ensure that savings bank holding companies meet the state’s regulatory requirements, protecting the interests of the savings bank and its customers.