Organization of savings and loan associations files, 1897-1964.
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Illinois. Attorney General's Office
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The 1818 Constitution provided for the appointment of an Attorney General by the General Assembly and legislation subsequently was passed in 1819 defining the officer's duties (L. 1819, p. 204). He was to prosecute all suits on behalf of the state including those involving the state's revenue and all impeachments brought before the Senate or Supreme Court. He also was required to give written opinions to the Governor, Auditor of Public Accounts, or State Treasurer, when requested, o...
Illinois. Auditor's Office
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In 1865 counties and cities were authorized to issue bonds in support of subscriptions to the capital stock of railroad companies or in aid of any public improvement (L. 1865, p. 44). In 1877 bonding authority also was extended to other local governmental units including towns, townships, school districts, and other municipal corporations (L. 1877, p. 158). Each bond issued by a local unit had to be registered with the Auditor. When the bonds for any one unit totaled $5,000 or more the Auditor w...
Illinois. Department of Financial Institutions
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The Department of Financial Institutions was created in 1957 to license and regulate banks, savings and loan associations, credit unions, currency exchanges, pawners' societies, cemetery associations, cemetery care trust funds, title-guaranteeing companies, foreign exchanges, trust departments, corporations chartered to guarantee members of credit unions against loss, and businesses making loans of $500 or less (L. 1957, p. 369). The responsibility to administer the Sale of Exchange Act and the ...
Illinois. Office of the Commissioner of Savings and Loan Associations
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The position of Commissioner of Savings and Loan Associations was created in 1965 (l. 1965, p. 2077). Appointed by Governor, Commissioner licenses, examines and regulates state-chartered savings and loan associations. These duries formerly were exercised by Supervisor of Savings and Loan Associations who operated within Department of Financial Institutions. Before creation of Department of Financial Institutions in 1957, Auditor of Public Accounts was responsible for regulation of s...