Illinois Code § 30-30
Illinois Code § 30-30. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.
§ 30-30.
Use of the Loan Guarantee Account. (a) Moneys in a Loan Guarantee Account may be paid to a participating financial institution to cover losses on guaranteed loans up to the full amount in the Account or the amount of loss, whichever is lesser. The State of Illinois and the State Treasurer shall not be responsible for any losses in excess of the full amount in the Loan Guarantee Account designated for a participating financial institution. (b) The State Treasurer may set a cap on the total funds held in any Loan Guarantee Account. Funds in excess of the cap may be withdrawn by the Treasurer. (c) The State Treasurer shall withdraw the full amount in any Loan Guarantee Account in the event the Loan Guarantee Program is discontinued, or the financial institution leaves the Program. (d) The State Treasurer may withdraw funds from any Loan Guarantee Account for a financial institution's failure to comply with Program requirements. (Source: P.A. 101-657, eff. 3-23-21; 102-1027, eff. 5-27-22.)
Source: official Illinois text · Last verified 2026-08-27
At a glance
- Citation: Illinois Compiled Statutes § 30-30
- Jurisdiction: Illinois
- Code: Illinois Compiled Statutes
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official Illinois Compiled Statutes. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Illinois attorney.
Common questions
What is the source of Illinois Compiled Statutes § 30-30?
The text above is transcribed from the Illinois Compiled Statutes, the codified statutes of Illinois. The official publisher link appears under "Verify the text" on this page.
What subject does Illinois Compiled Statutes § 30-30 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Illinois Compiled Statutes § 30-30 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Illinois source before relying on this text.
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No. This is a reference transcription for research. Applying Illinois law to your facts requires a licensed Illinois attorney who can review the specifics.