Illinois § 11002
Full text of Illinois Illinois Compiled Statutes § 11002, with citation guidance and answers to common questions.
§ 11002.
Cease and desist orders; books and records. (a) If the notice of charges and orders under Section 11001 specifies that the books and records of a savings bank are so incomplete and inaccurate that the Commissioner is unable to determine the financial condition of the savings bank or unable to determine the nature, details, or purpose of any transaction that may have a material effect on the savings bank's financial condition, then the Commissioner shall issue an order that shall be immediately effective requiring: (1) Specific, affirmative steps to restore, reconstruct, or adjust the books and records to accuracy and compliance. (2) Rescission or cessation of transactions or activities that led to the incomplete or inaccurate condition of the books and records. (3) The establishment of reserves for any losses that the Commissioner finds were incurred due to the condition of the books and records. (b) Orders under this Section shall be effective until the Commissioner's examination determines that the condition has been corrected. (Source: P.A. 86-1213.)
Frequently Asked Questions About Illinois § 11002
What does Illinois Compiled Statutes § 11002 cover?
Section 11002 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 11002?
A common citation format is "Illinois Compiled Statutes § 11002" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 11002 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.