Illinois § 1106
Full text of Illinois Illinois Compiled Statutes § 1106, with citation guidance and answers to common questions.
§ 1106.
Trust - Participation. (1) A banking association and its member banks may participate in any trust created under this Article if it: (a) Meets the underwriting standards for acceptance into the trust; (b) Files a written application for coverage, agreeing to meet all of the membership conditions of the trust; (c) Is a member of the association sponsoring the trust; (d) Agrees to meet the ongoing loss control provisions and risk pooling arrangements set forth by the trustees; (e) Pays its premium contribution on a timely basis as required; and (f) Pays its predetermined annual required contribution into the contingency reserve fund. (2) Any bank accepted for trust membership and participating in the trust under this Article shall be liable for payment to the trust of the amount of its annual premium contribution and its annual predetermined contingency reserve fund contribution. (Source: P.A. 84-1431.)
Frequently Asked Questions About Illinois § 1106
What does Illinois Compiled Statutes § 1106 cover?
Section 1106 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 § 1106?
A common citation format is "Illinois Compiled Statutes § 1106" (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 § 1106 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.