205 ILCS 205/9012
2021 Illinois Compiled Statutes|Chapter 205 - FINANCIAL REGULATION|205 ILCS 205/ - Savings Bank Act.|Article 9 - Supervision

 (from Ch. 17, par. 7309-12)Sec. 9012. Disclosure of reports of examinations and confidential  supervisory information; limitations.(a) Any report of examination, visitation, or investigation prepared by  the Secretary    under this Act, any report of examination, visitation, or investigation  prepared by the state  regulatory authority of another state that examines a branch of an Illinois  State savings bank in  that state, any document or record prepared or obtained in connection with or  relating to any  examination, visitation, or investigation, and any record prepared or obtained  by the Secretary   to the extent that the record summarizes or contains information  derived from  any report, document, or record described in this subsection shall be deemed  confidential  supervisory information. "Confidential supervisory information" shall not  include any information or  record routinely prepared by a savings bank and maintained in the ordinary  course of business or any  information or record that is required to be made publicly available pursuant  to State or federal law  or rule. Confidential supervisory information shall be the property of the Secretary   and shall  only be disclosed under the circumstances and for the purposes set forth in  this Section.The Secretary may disclose confidential supervisory information only under  the following  circumstances:(1) The Secretary may furnish confidential     supervisory information to federal and state depository institution regulators, or any official or examiner thereof duly accredited for the purpose. Nothing contained in this Act shall be construed to limit the obligation of any savings bank to comply with the requirements relative to examinations and reports nor to limit in any way the powers of the Secretary relative to examinations and reports.(2) The Secretary may furnish confidential     supervisory information to the United States or any agency thereof that to any extent has insured a savings bank's deposits, or any official or examiner thereof duly accredited for the purpose. Nothing contained in this Act shall be construed to limit the obligation relative to examinations and reports of any savings bank in which deposits are to any extent insured by the United States or any agency thereof nor to limit in any way the powers of the Secretary with reference to examination and reports of the savings bank.(2.5) The Secretary may furnish confidential     supervisory information to a Federal Home Loan Bank in connection with any savings bank that is a member of the Federal Home Loan Bank or in connection with any application by the savings bank before the Federal Home Loan Bank. The confidential supervisory information shall remain the property of the Secretary and may not be further disclosed without the Secretary's permission.(3) The Secretary may furnish confidential     supervisory information to the appropriate law enforcement authorities when the Secretary reasonably believes a savings bank, which the Secretary  has caused to be examined, has been a victim of a crime.(4) The Secretary may furnish confidential     supervisory information related to a savings bank, which the Secretary has caused to be examined, to the administrator of the Revised Uniform Unclaimed Property Act.(5) The Secretary may furnish confidential     supervisory information relating to a savings bank, which the Secretary has caused to be examined, relating to its performance of obligations under the Illinois Income Tax Act and the Illinois Estate and Generation-Skipping Transfer Tax Act to the Illinois Department of Revenue.(6) The Secretary may furnish confidential     supervisory information relating to a savings bank, which the Secretary has caused to be examined, under the federal Currency and Foreign Transactions Reporting Act, 31 United States Code, Section 1051 et seq.(7) The Secretary may furnish confidential     supervisory information to any other agency or entity that the Secretary determines to have a legitimate regulatory interest.(8) The Secretary may furnish confidential     supervisory information as otherwise permitted or required by this Act and may furnish confidential supervisory information under any other statute that by its terms or by regulations promulgated thereunder requires the disclosure of financial records other than by subpoena, summons, warrant, or court order.(9) At the request of the affected savings bank, the     Secretary may furnish confidential supervisory information relating to the savings bank, which the Secretary has caused to be examined, in connection with the obtaining of insurance coverage or the pursuit of an insurance claim for or on behalf of the savings bank; provided that, when possible, the Secretary  shall disclose only relevant information while maintaining the confidentiality of financial records not relevant to such insurance coverage or claim and, when appropriate, may delete identifying data relating to any person.(10) The Secretary may furnish a copy of a report of     any examination performed by the Secretary of the condition and affairs of any electronic data processing entity to the savings banks serviced by the electronic data processing entity.(11) In addition to the foregoing circumstances, the     Secretary may, but is not required to, furnish confidential supervisory information under the same circumstances authorized for the savings bank pursuant to subsection (b) of this Section, except that the Secretary shall provide confidential supervisory information under circumstances described in paragraph (3) of subsection (b) of this Section only upon the request of the savings bank.(b) A savings bank or its officers, agents, and employees may disclose  confidential  supervisory information only under the following circumstances:(1) to the board of directors of the savings bank, as     well as the president, vice-president, cashier, and other officers of the savings bank to whom the board of directors may delegate duties with respect to compliance with recommendations for action, and to the board of directors of a savings bank holding company that owns at least 80% of the outstanding stock of the savings bank or other financial institution.(2) to attorneys for the savings bank and to a     certified public accountant engaged by the savings bank to perform an independent audit; provided that the attorney or certified public accountant shall not permit the confidential supervisory information to be further disseminated.(3) to any person who seeks to acquire a controlling     interest in, or who seeks to merge with, the savings bank; provided that the person shall agree to be bound to respect the confidentiality of the confidential supervisory information and to not further disseminate the information other than to attorneys, certified public accountants, officers, agents, or employees of that person who likewise shall agree to be bound to respect the confidentiality of the confidential supervisory information and to not further disseminate the information.(4) to the savings bank's insurance company, if the     supervisory information contains information that is otherwise unavailable and is strictly necessary to obtaining insurance coverage or pursuing an insurance claim for or on behalf of the savings bank; provided that, when possible, the savings bank shall disclose only information that is relevant to obtaining insurance coverage or pursuing an insurance claim, while maintaining the confidentiality of financial information pertaining to customers; and provided further that, when appropriate, the savings bank may delete identifying data relating to any person.(5) to a Federal Home Loan Bank of which it is a     member.(6)     to any attorney, accountant, consultant, or     other professional as needed to comply with an enforcement action issued by the Secretary.The disclosure of confidential supervisory information by a savings bank  pursuant to this  subsection (b) and the disclosure of information to the Secretary or other  regulatory agency in  connection with any examination, visitation, or investigation shall not  constitute a waiver of any  legal privilege otherwise available to the savings bank with respect to the  information.(c)(1) Notwithstanding any other provision of this Act or any other law,  confidential  supervisory information shall be the property of the Secretary and shall be  privileged from  disclosure to any person except as provided in this Section. No person in  possession of  confidential supervisory information may disclose that information for any  reason or under any  circumstances not specified in this Section without the prior authorization of  the Secretary.  Any person upon whom a demand for production of confidential supervisory  information is made,  whether by subpoena, order, or other judicial or administrative process, must  withhold  production of the confidential supervisory information and must notify the Secretary   of the  demand, at which time the Secretary is authorized to intervene for the  purpose of  enforcing the limitations of this Section or seeking the withdrawal or  termination of the attempt to  compel production of the confidential supervisory information.(2) Any request for discovery or disclosure of confidential supervisory  information, whether  by subpoena, order, or other judicial or administrative process, shall be made  to the Secretary, and the Secretary shall determine within 15 days whether to  disclose the  information pursuant to procedures and standards that the Secretary shall  establish by rule. If  the Secretary determines that such information will not be disclosed, the Secretary's    decision shall be subject to judicial review under the provisions of the  Administrative Review  Law, and venue shall be in either Sangamon County or Cook County.(3) Any court order that compels disclosure of confidential supervisory  information may be  immediately appealed by the Secretary, and the order shall be automatically  stayed pending the  outcome of the appeal.(d) If any officer, agent, attorney, or employee of a savings bank knowingly  and willfully  furnishes confidential supervisory information in violation of this Section,  the Secretary   may impose a civil monetary penalty up to $1,000 for the violation  against  the officer, agent, attorney, or employee.(e) Subject to the limits of this Section, the Secretary   also may promulgate regulations to set procedures and  standards for  disclosure of  the  following items:(1) All fixed orders and opinions made in cases of     appeals of the Secretary's actions.(2) Statements of policy and interpretations adopted     by the Secretary's office, but not otherwise made public.(3) Nonconfidential portions of application files,     including applications for new charters.  The Secretary shall specify by rule as to what part of the files are confidential.(4) Quarterly reports of income, deposits, and     financial condition. (Source: P.A. 100-22, eff. 1-1-18; 100-64, eff. 8-11-17; 100-863, eff. 8-14-18; 100-888, eff. 8-14-18.)