Article VIII - Offenses and Penalties - Illinois Statutes

      (205 ILCS 620/Art. VIII heading)ARTICLE VIII. OFFENSES AND PENALTIES

(205 ILCS 620/8‑1) (from Ch. 17, par. 1558‑1)     Sec. 8‑1. False statements. It is unlawful for any officer, director, employee, or agent of any corporate fiduciary subject to examination by the Commissioner or any person filing an application or submitting information in connection with an application to the Commissioner to willfully and knowingly subscribe to or make, or cause to be made, any false statement or false entry with intent to deceive any person or persons authorized to examine into the affairs of the corporate fiduciary or applicant or with intent to deceive the Commissioner or his administrative officers in the performance of their duties under this Act. A person who violates this Section is guilty of a Class 3 felony. (Source: P.A. 92‑485, eff. 8‑23‑01.)

(205 ILCS 620/8‑2)     Sec. 8‑2. Reliance on Commissioner. No corporate fiduciary or other person shall be liable under this Act for any act done or omitted in good faith in conformity with any rule, interpretation, or opinion issued by the Commissioner of Banks and Real Estate, notwithstanding that after the act or omission has occurred, the rule, opinion, or interpretation upon which reliance is placed is amended, rescinded, or determined by judicial or other authority to be invalid for any reason. (Source: P.A. 90‑161, eff. 7‑23‑97.)