97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB5260

 

Introduced 2/8/2012, by Rep. Linda Chapa LaVia

 

SYNOPSIS AS INTRODUCED:
 
See Index

    Repeals the Illinois Savings and Loan Act of 1985. Amends the Savings Bank Act. Provides that any institution organized under the Illinois Savings and Loan Act of 1985 shall be deemed a savings bank under the Illinois Savings Bank Act. Creates a new Article concerning the effect of the repeal of the Illinois Savings and Loan Act of 1985. Makes changes in provisions concerning out-of-state savings banks; reorganization to become a holding company; contents of articles of incorporation; directors; conduct of directors and officers; access to books and records; communication with members and shareholders; investment in loans; loans to one borrower; Secretary's regulations; powers of the Secretary; regulatory fees; and disclosure of reports of examinations and confidential supervisory information. Repeals provisions concerning the impairment of capital. Amends the Illinois Banking Act. Provides a definition for "money borrowed" in a provision concerning basic loaning limits. Provides that the Secretary when appointed as a receiver or any person appointed as a receiver shall have all the powers, rights, and privileges as the Federal Deposit Insurance Corporation. Also makes changes in the Freedom of Information Act, the Division of Banking Act, the State Finance Act, the Pawnbroker Regulation Act, the Corporate Fiduciary Act, the Residential Mortgage License Act of 1987, and the Foreign Bank Representative Office Act.


LRB097 17482 PJG 62685 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5260LRB097 17482 PJG 62685 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Freedom of Information Act is amended by
5changing Section 7.5 as follows:
 
6    (5 ILCS 140/7.5)
7    Sec. 7.5. Statutory Exemptions. To the extent provided for
8by the statutes referenced below, the following shall be exempt
9from inspection and copying:
10    (a) All information determined to be confidential under
11Section 4002 of the Technology Advancement and Development Act.
12    (b) Library circulation and order records identifying
13library users with specific materials under the Library Records
14Confidentiality Act.
15    (c) Applications, related documents, and medical records
16received by the Experimental Organ Transplantation Procedures
17Board and any and all documents or other records prepared by
18the Experimental Organ Transplantation Procedures Board or its
19staff relating to applications it has received.
20    (d) Information and records held by the Department of
21Public Health and its authorized representatives relating to
22known or suspected cases of sexually transmissible disease or
23any information the disclosure of which is restricted under the

 

 

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1Illinois Sexually Transmissible Disease Control Act.
2    (e) Information the disclosure of which is exempted under
3Section 30 of the Radon Industry Licensing Act.
4    (f) Firm performance evaluations under Section 55 of the
5Architectural, Engineering, and Land Surveying Qualifications
6Based Selection Act.
7    (g) Information the disclosure of which is restricted and
8exempted under Section 50 of the Illinois Prepaid Tuition Act.
9    (h) Information the disclosure of which is exempted under
10the State Officials and Employees Ethics Act, and records of
11any lawfully created State or local inspector general's office
12that would be exempt if created or obtained by an Executive
13Inspector General's office under that Act.
14    (i) Information contained in a local emergency energy plan
15submitted to a municipality in accordance with a local
16emergency energy plan ordinance that is adopted under Section
1711-21.5-5 of the Illinois Municipal Code.
18    (j) Information and data concerning the distribution of
19surcharge moneys collected and remitted by wireless carriers
20under the Wireless Emergency Telephone Safety Act.
21    (k) Law enforcement officer identification information or
22driver identification information compiled by a law
23enforcement agency or the Department of Transportation under
24Section 11-212 of the Illinois Vehicle Code.
25    (l) Records and information provided to a residential
26health care facility resident sexual assault and death review

 

 

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1team or the Executive Council under the Abuse Prevention Review
2Team Act.
3    (m) Information provided to the predatory lending database
4created pursuant to Article 3 of the Residential Real Property
5Disclosure Act, except to the extent authorized under that
6Article.
7    (n) Defense budgets and petitions for certification of
8compensation and expenses for court appointed trial counsel as
9provided under Sections 10 and 15 of the Capital Crimes
10Litigation Act. This subsection (n) shall apply until the
11conclusion of the trial of the case, even if the prosecution
12chooses not to pursue the death penalty prior to trial or
13sentencing.
14    (o) Information that is prohibited from being disclosed
15under Section 4 of the Illinois Health and Hazardous Substances
16Registry Act.
17    (p) Security portions of system safety program plans,
18investigation reports, surveys, schedules, lists, data, or
19information compiled, collected, or prepared by or for the
20Regional Transportation Authority under Section 2.11 of the
21Regional Transportation Authority Act or the St. Clair County
22Transit District under the Bi-State Transit Safety Act.
23    (q) Information prohibited from being disclosed by the
24Personnel Records Review Act.
25    (r) Information prohibited from being disclosed by the
26Illinois School Student Records Act.

 

 

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1    (s) Information the disclosure of which is restricted under
2Section 5-108 of the Public Utilities Act.
3    (t) All identified or deidentified health information in
4the form of health data or medical records contained in, stored
5in, submitted to, transferred by, or released from the Illinois
6Health Information Exchange, and identified or deidentified
7health information in the form of health data and medical
8records of the Illinois Health Information Exchange in the
9possession of the Illinois Health Information Exchange
10Authority due to its administration of the Illinois Health
11Information Exchange. The terms "identified" and
12"deidentified" shall be given the same meaning as in the Health
13Insurance Accountability and Portability Act of 1996, Public
14Law 104-191, or any subsequent amendments thereto, and any
15regulations promulgated thereunder.
16    (u) Records and information provided to an independent team
17of experts under Brian's Law.
18    (v) Names and information of people who have applied for or
19received Firearm Owner's Identification Cards under the
20Firearm Owners Identification Card Act.
21    (w) (v) Personally identifiable information which is
22exempted from disclosure under subsection (g) of Section 19.1
23of the Toll Highway Act.
24    (x) Information disclosed pursuant to Section 7 of the
25Pawnbroker Regulation Act.
26(Source: P.A. 96-542, eff. 1-1-10; 96-1235, eff. 1-1-11;

 

 

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196-1331, eff. 7-27-10; 97-80, eff. 7-5-11; 97-333, eff.
28-12-11; 97-342, eff. 8-12-11; revised 9-2-11.)
 
3    Section 10. The Division of Banking Act is amended by
4changing Section 2.5 as follows:
 
5    (20 ILCS 3205/2.5)
6    Sec. 2.5. Prohibited activities.
7    (a) For the purposes of this Section, "regulated entity"
8means (1) any person, business, company, corporation,
9institution, or other entity who is subject to regulation by
10the Office of Banks and Real Estate under Sections 3 and 46 of
11the Illinois Banking Act, Section 1-5 of the Illinois Savings
12and Loan Act of 1985, Section 1004 of the Savings Bank Act,
13Section 1-3 of the Residential Mortgage License Act of 1987,
14Section 2-4 of the Corporate Fiduciary Act, Section 3.02 of the
15Illinois Bank Holding Company Act of 1957, the Savings and Loan
16Share and Account Act, Section 1.5 of the Pawnbroker Regulation
17Act, Section 3 of the Foreign Banking Office Act, or Section 30
18of the Electronic Fund Transfer Act and (2) any person,
19business, company, corporation, institution, or other entity
20who the Commissioner determines may have an adverse impact on
21the affairs, activities, and safety and soundness of any
22regulated entity examined by the Commissioner.
23    (b) The Commissioner and the deputy commissioners shall not
24be an officer, director, employee, or agent of a regulated

 

 

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1entity or of a corporation or company that owns or controls a
2regulated entity.
3    The Commissioner and the deputy commissioners shall not own
4shares of stock or hold any other equity interest in a
5regulated entity or in a corporation or company that owns or
6controls a regulated entity. If the Commissioner or a deputy
7commissioner owns shares of stock or holds an equity interest
8in a regulated entity at the time of appointment, he or she
9shall dispose of such shares or other equity interest within
10120 days from the date of appointment.
11    The Commissioner and the deputy commissioners shall not
12directly or indirectly obtain a loan from a regulated entity or
13accept a gratuity from a regulated entity that is intended to
14influence the performance of official duties.
15    (c) Employees of the Office of Banks and Real Estate shall
16not be officers, directors, employees, or agents of a regulated
17entity or of a corporation or company that owns or controls a
18regulated entity.
19    Except as provided by standards which the Office of Banks
20and Real Estate may establish, employees of the Office of Banks
21and Real Estate shall not own shares of stock or hold any other
22equity interest in a regulated entity or in a corporation or
23company that owns or controls a regulated entity, or directly
24or indirectly obtain a loan from a regulated entity, or accept
25a gratuity from a regulated entity that is intended to
26influence the performance of official duties. However, in no

 

 

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1case shall an employee of the Office of Banks and Real Estate
2participate in any manner in the examination or direct
3regulation of a regulated entity in which the employee owns
4shares of stock or holds any other equity interest, or which is
5servicing a loan to which the employee is an obligor.
6    (d) If the Commissioner, a deputy commissioner, or any
7employee of the Office of Banks and Real Estate properly
8obtains a loan or extension of credit from an entity that is
9not a regulated entity, and the loan or extension of credit is
10subsequently acquired by a regulated entity or the entity
11converts to become a regulated entity after the loan is made,
12such purchase by or conversion to a regulated entity shall not
13cause the loan or extension of credit to be deemed a violation
14of this Section.
15    Nothing in this Section shall be deemed to prevent the
16ownership of a checking account, a savings deposit account, a
17money market account, a certificate of deposit, a credit or
18debit card account, or shares in open-end investment companies
19registered with the Securities and Exchange Commission
20pursuant to the federal Investment Company Act of 1940 and the
21Securities Act of 1933 (commonly referred to as mutual or money
22market funds).
23    (e) No Commissioner, deputy commissioner, employee, or
24agent of the Office of Banks and Real Estate shall, either
25during or after the holding of his or her term of office or
26employment, disclose confidential information concerning any

 

 

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1regulated entity or person except as authorized by law or
2prescribed by rule. "Confidential information", as used in this
3Section, means any information that the person or officer
4obtained during his or her term of office or employment that is
5not available from the Office of Banks and Real Estate pursuant
6to a request under the Freedom of Information Act.
7    (f) The Commissioner may subpoena witnesses to compel their
8attendance, to administer an oath, to examine any person under
9oath, and to require the production of any relevant books,
10papers, accounts, and documents in the course of and pursuant
11to that entity having a relationship with a regulated entity
12upon determination by the Commissioner that the relationship
13may have an adverse impact on the affairs, activities, and
14safety and soundness of any regulated entity.
15(Source: P.A. 97-492, eff. 1-1-12.)
 
16    Section 15. The State Finance Act is amended by changing
17Sections 5.214 and 8.12 as follows:
 
18    (30 ILCS 105/5.214)  (from Ch. 127, par. 141.214)
19    Sec. 5.214. The Savings and Residential Finance Regulatory
20Fund.
21(Source: P.A. 85-1209; 86-1213.)
 
22    (30 ILCS 105/8.12)   (from Ch. 127, par. 144.12)
23    Sec. 8.12. State Pensions Fund.

 

 

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1    (a) The moneys in the State Pensions Fund shall be used
2exclusively for the administration of the Uniform Disposition
3of Unclaimed Property Act and for the funding of the unfunded
4liabilities of the designated retirement systems. Payments to
5the designated retirement systems under this Section shall be
6in addition to, and not in lieu of, any State contributions
7required under the Illinois Pension Code.
8    "Designated retirement systems" means:
9        (1) the State Employees' Retirement System of
10    Illinois;
11        (2) the Teachers' Retirement System of the State of
12    Illinois;
13        (3) the State Universities Retirement System;
14        (4) the Judges Retirement System of Illinois; and
15        (5) the General Assembly Retirement System.
16    (b) Each year the General Assembly may make appropriations
17from the State Pensions Fund for the administration of the
18Uniform Disposition of Unclaimed Property Act.
19    Each month, the Commissioner of the Office of Banks and
20Real Estate shall certify to the State Treasurer the actual
21expenditures that the Office of Banks and Real Estate incurred
22conducting unclaimed property examinations under the Uniform
23Disposition of Unclaimed Property Act during the immediately
24preceding month. Within a reasonable time following the
25acceptance of such certification by the State Treasurer, the
26State Treasurer shall pay from its appropriation from the State

 

 

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1Pensions Fund to the Bank and Trust Company Fund, the Savings
2Institution Regulatory Fund, and the Savings and Residential
3Finance Regulatory Fund an amount equal to the expenditures
4incurred by each Fund for that month.
5    Each month, the Director of Financial Institutions shall
6certify to the State Treasurer the actual expenditures that the
7Department of Financial Institutions incurred conducting
8unclaimed property examinations under the Uniform Disposition
9of Unclaimed Property Act during the immediately preceding
10month. Within a reasonable time following the acceptance of
11such certification by the State Treasurer, the State Treasurer
12shall pay from its appropriation from the State Pensions Fund
13to the Financial Institutions Fund and the Credit Union Fund an
14amount equal to the expenditures incurred by each Fund for that
15month.
16    (c) As soon as possible after the effective date of this
17amendatory Act of the 93rd General Assembly, the General
18Assembly shall appropriate from the State Pensions Fund (1) to
19the State Universities Retirement System the amount certified
20under Section 15-165 during the prior year, (2) to the Judges
21Retirement System of Illinois the amount certified under
22Section 18-140 during the prior year, and (3) to the General
23Assembly Retirement System the amount certified under Section
242-134 during the prior year as part of the required State
25contributions to each of those designated retirement systems;
26except that amounts appropriated under this subsection (c) in

 

 

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1State fiscal year 2005 shall not reduce the amount in the State
2Pensions Fund below $5,000,000. If the amount in the State
3Pensions Fund does not exceed the sum of the amounts certified
4in Sections 15-165, 18-140, and 2-134 by at least $5,000,000,
5the amount paid to each designated retirement system under this
6subsection shall be reduced in proportion to the amount
7certified by each of those designated retirement systems.
8    (c-5) For fiscal years 2006 through 2012, the General
9Assembly shall appropriate from the State Pensions Fund to the
10State Universities Retirement System the amount estimated to be
11available during the fiscal year in the State Pensions Fund;
12provided, however, that the amounts appropriated under this
13subsection (c-5) shall not reduce the amount in the State
14Pensions Fund below $5,000,000.
15    (c-6) For fiscal year 2013 and each fiscal year thereafter,
16as soon as may be practical after any money is deposited into
17the State Pensions Fund from the Unclaimed Property Trust Fund,
18the State Treasurer shall apportion the deposited amount among
19the designated retirement systems as defined in subsection (a)
20to reduce their actuarial reserve deficiencies. The State
21Comptroller and State Treasurer shall pay the apportioned
22amounts to the designated retirement systems to fund the
23unfunded liabilities of the designated retirement systems. The
24amount apportioned to each designated retirement system shall
25constitute a portion of the amount estimated to be available
26for appropriation from the State Pensions Fund that is the same

 

 

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1as that retirement system's portion of the total actual reserve
2deficiency of the systems, as determined annually by the
3Governor's Office of Management and Budget at the request of
4the State Treasurer. The amounts apportioned under this
5subsection shall not reduce the amount in the State Pensions
6Fund below $5,000,000.
7    (d) The Governor's Office of Management and Budget shall
8determine the individual and total reserve deficiencies of the
9designated retirement systems. For this purpose, the
10Governor's Office of Management and Budget shall utilize the
11latest available audit and actuarial reports of each of the
12retirement systems and the relevant reports and statistics of
13the Public Employee Pension Fund Division of the Department of
14Insurance.
15    (d-1) As soon as practicable after the effective date of
16this amendatory Act of the 93rd General Assembly, the
17Comptroller shall direct and the Treasurer shall transfer from
18the State Pensions Fund to the General Revenue Fund, as funds
19become available, a sum equal to the amounts that would have
20been paid from the State Pensions Fund to the Teachers'
21Retirement System of the State of Illinois, the State
22Universities Retirement System, the Judges Retirement System
23of Illinois, the General Assembly Retirement System, and the
24State Employees' Retirement System of Illinois after the
25effective date of this amendatory Act during the remainder of
26fiscal year 2004 to the designated retirement systems from the

 

 

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1appropriations provided for in this Section if the transfers
2provided in Section 6z-61 had not occurred. The transfers
3described in this subsection (d-1) are to partially repay the
4General Revenue Fund for the costs associated with the bonds
5used to fund the moneys transferred to the designated
6retirement systems under Section 6z-61.
7    (e) The changes to this Section made by this amendatory Act
8of 1994 shall first apply to distributions from the Fund for
9State fiscal year 1996.
10(Source: P.A. 96-959, eff. 7-1-10; 97-72, eff. 7-1-11.)
 
11    Section 20. The Illinois Banking Act is amended by changing
12Sections 32, 48, 48.05, and 48.3 as follows:
 
13    (205 ILCS 5/32)  (from Ch. 17, par. 339)
14    Sec. 32. Basic loaning limits. The liabilities outstanding
15at one time to a state bank of a person for money borrowed,
16including the liabilities of a partnership or joint venture in
17the liabilities of the several members thereof, shall not
18exceed 25% of the amount of the unimpaired capital and
19unimpaired surplus of the bank.
20    The liabilities to any state bank of a person may exceed
2125% of the unimpaired capital and unimpaired surplus of the
22bank, provided that (i) the excess amount from time to time
23outstanding is fully secured by readily marketable collateral
24having a market value, as determined by reliable and

 

 

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1continuously available quotations, at least equal to the excess
2amount outstanding; and (ii) the total liabilities shall not
3exceed 30% of the unimpaired capital and unimpaired surplus of
4the bank.
5    Beginning July 1, 2012, the following shall be considered
6as money borrowed within the meaning of this Section:
7        (1) all direct or indirect advances of funds to a
8    person made on the basis of any obligation of that person
9    to repay the funds or repayable from specific property
10    pledged by or on behalf of the person;
11        (2) to the extent specified by the Secretary, any
12    liability of a state chartered bank to advance funds to or
13    on behalf of a person pursuant to a contractual commitment;
14    and
15        (3) beginning January 2013, or such other time deemed
16    by the Secretary, any credit exposure to a person arising
17    from a derivative transaction, repurchase agreement,
18    reverse repurchase agreement, securities lending
19    transaction, or securities borrowing transaction between
20    the state bank and the person.
21    The term "derivative transaction" includes any transaction
22that is a contract, agreement, swap, warrant, note, or option
23that is based, in whole or in part, on the value of, any
24interest in, or any quantitative measure or the occurrence of
25any event relating to, one or more commodities, securities,
26currencies, interest or other rates, indices, or other assets.

 

 

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1    The following shall not be considered as money borrowed
2within the meaning of this Section:
3        (1) The purchase or discount of bills of exchange drawn
4    in good faith against actually existing values.
5        (2) The purchase or discount of commercial or business
6    paper actually owned by the person negotiating the same.
7        (3) The purchase of or loaning money in exchange for
8    evidences of indebtedness which shall be secured by
9    mortgage or trust deed upon productive real estate the
10    value of which, as ascertained by the oath of 2 qualified
11    appraisers, neither of whom shall be an officer, director,
12    or employee of the bank or of any subsidiary or affiliate
13    of the bank, is double the amount of the principal debt
14    secured at the time of the original purchase of evidence of
15    indebtedness or loan of money and which is still double the
16    amount of the principal debt secured at the time of any
17    renewal of the indebtedness or loan, and which mortgage or
18    trust deed is shown, either by a guaranty policy of a title
19    guaranty company approved by the Secretary Commissioner or
20    by a registrar's certificate of title in any county having
21    adopted the provisions of the Registered Titles (Torrens)
22    Act, or by the opinion of an attorney-at-law, to be a first
23    lien upon the real estate therein described, and real
24    estate shall not be deemed to be encumbered within the
25    meaning of this subsection (3) by reason of the existence
26    of instruments reserving rights-of-way, sewer rights and

 

 

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1    rights in wells, building restrictions or other
2    restrictive covenants, nor by reason of the fact it is
3    subject to lease under which rents or profits are reserved
4    by the owners.
5        (4) The purchase of marketable investment securities.
6        (5) The liability to a state bank of a person who is an
7    accommodation party to, or guarantor of payment for, any
8    evidence of indebtedness of another person who obtains a
9    loan from or discounts paper with or sells paper to the
10    state bank; but the total liability to a state bank of a
11    person as an accommodation party or guarantor of payment in
12    respect of such evidences of indebtedness shall not exceed
13    25% of the amount of the unimpaired capital and unimpaired
14    surplus of the bank; provided however that the liability of
15    an accommodation party to paper excepted under subsection 2
16    of this Section shall not be included in the computation of
17    this limitation.
18        (6) The liability to a state bank of a person, who as a
19    guarantor, guarantees collection of the obligation or
20    indebtedness of another person.
21    The total liabilities of any one person, for money
22borrowed, or otherwise, shall not exceed 25% of the deposits of
23the bank, and those total liabilities shall at no time exceed
2450% of the amount of the unimpaired capital and unimpaired
25surplus of the bank. Absent an actual unremedied breach, the
26obligation or responsibility for breach of warranties or

 

 

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1representations, express or implied, of a person transferring
2negotiable or non-negotiable paper to a bank without recourse
3and without guaranty of payment, shall not be included in
4determining the amount of liabilities of the person to the bank
5for borrowed money or otherwise; and in the event of and to the
6extent of an unremedied breach, the amount remaining unpaid for
7principal and interest on the paper in respect of which the
8unremedied breach exists shall thereafter for the purpose of
9determining whether subsequent transactions giving rise to
10additional liability of the person to the state bank for
11borrowed money or otherwise are within the limitations of
12Sections 32 through 34 of this Act, be included in computing
13the amount of liabilities of the person for borrowed money or
14otherwise.
15    The liability of a person to a state bank on account of
16acceptances made or issued by the state bank on behalf of the
17person shall be included in the computation of the total
18liabilities of the person for money borrowed except to the
19extent the acceptances grow out of transactions of the
20character described in subsection (6) of Section 34 of this Act
21and are otherwise within the limitations of that subsection;
22provided nevertheless that any such excepted acceptances
23acquired by the state bank which accepted the same shall be
24included in the computation of the liabilities of the person to
25the state bank for money borrowed.
26    The Secretary may adopt rules to address the funding by

 

 

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1banks of any loan commitment, when such funding would involve
2additional extensions of credit to be made after the unimpaired
3capital and unimpaired surplus of the bank have decreased and
4the Secretary determines that such decrease in unimpaired
5capital and unimpaired surplus would cause the additional
6extensions of credit to result in an unsafe and unsound
7condition.
8(Source: P.A. 96-1365, eff. 7-28-10.)
 
9    (205 ILCS 5/48)
10    Sec. 48. Secretary's powers; duties. The Secretary shall
11have the powers and authority, and is charged with the duties
12and responsibilities designated in this Act, and a State bank
13shall not be subject to any other visitorial power other than
14as authorized by this Act, except those vested in the courts,
15or upon prior consultation with the Secretary, a foreign bank
16regulator with an appropriate supervisory interest in the
17parent or affiliate of a state bank. In the performance of the
18Secretary's duties:
19    (1) The Secretary Commissioner shall call for statements
20from all State banks as provided in Section 47 at least one
21time during each calendar quarter.
22    (2) (a) The Secretary Commissioner, as often as the
23Secretary Commissioner shall deem necessary or proper, and no
24less frequently than 18 months following the preceding
25examination, shall appoint a suitable person or persons to make

 

 

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1an examination of the affairs of every State bank, except that
2for every eligible State bank, as defined by regulation, the
3Secretary Commissioner in lieu of the examination may accept on
4an alternating basis the examination made by the eligible State
5bank's appropriate federal banking agency pursuant to Section
6111 of the Federal Deposit Insurance Corporation Improvement
7Act of 1991, provided the appropriate federal banking agency
8has made such an examination. A person so appointed shall not
9be a stockholder or officer or employee of any bank which that
10person may be directed to examine, and shall have powers to
11make a thorough examination into all the affairs of the bank
12and in so doing to examine any of the officers or agents or
13employees thereof on oath and shall make a full and detailed
14report of the condition of the bank to the Secretary
15Commissioner. In making the examination the examiners shall
16include an examination of the affairs of all the affiliates of
17the bank, as defined in subsection (b) of Section 35.2 of this
18Act, or subsidiaries of the bank as shall be necessary to
19disclose fully the conditions of the subsidiaries or
20affiliates, the relations between the bank and the subsidiaries
21or affiliates and the effect of those relations upon the
22affairs of the bank, and in connection therewith shall have
23power to examine any of the officers, directors, agents, or
24employees of the subsidiaries or affiliates on oath. After May
2531, 1997, the Secretary Commissioner may enter into cooperative
26agreements with state regulatory authorities of other states to

 

 

HB5260- 20 -LRB097 17482 PJG 62685 b

1provide for examination of State bank branches in those states,
2and the Secretary Commissioner may accept reports of
3examinations of State bank branches from those state regulatory
4authorities. These cooperative agreements may set forth the
5manner in which the other state regulatory authorities may be
6compensated for examinations prepared for and submitted to the
7Secretary Commissioner.
8    (b) After May 31, 1997, the Secretary Commissioner is
9authorized to examine, as often as the Secretary Commissioner
10shall deem necessary or proper, branches of out-of-state banks.
11The Secretary Commissioner may establish and may assess fees to
12be paid to the Secretary Commissioner for examinations under
13this subsection (b). The fees shall be borne by the
14out-of-state bank, unless the fees are borne by the state
15regulatory authority that chartered the out-of-state bank, as
16determined by a cooperative agreement between the Secretary
17Commissioner and the state regulatory authority that chartered
18the out-of-state bank.
19    (2.5) Whenever any State bank, any subsidiary or affiliate
20of a State bank, or after May 31, 1997, any branch of an
21out-of-state bank causes to be performed, by contract or
22otherwise, any bank services for itself, whether on or off its
23premises:
24        (a) that performance shall be subject to examination by
25    the Secretary Commissioner to the same extent as if
26    services were being performed by the bank or, after May 31,

 

 

HB5260- 21 -LRB097 17482 PJG 62685 b

1    1997, branch of the out-of-state bank itself on its own
2    premises; and
3        (b) the bank or, after May 31, 1997, branch of the
4    out-of-state bank shall notify the Secretary Commissioner
5    of the existence of a service relationship. The
6    notification shall be submitted with the first statement of
7    condition (as required by Section 47 of this Act) due after
8    the making of the service contract or the performance of
9    the service, whichever occurs first. The Secretary
10    Commissioner shall be notified of each subsequent contract
11    in the same manner.
12    For purposes of this subsection (2.5), the term "bank
13services" means services such as sorting and posting of checks
14and deposits, computation and posting of interest and other
15credits and charges, preparation and mailing of checks,
16statements, notices, and similar items, or any other clerical,
17bookkeeping, accounting, statistical, or similar functions
18performed for a State bank, including but not limited to
19electronic data processing related to those bank services.
20    (3) The expense of administering this Act, including the
21expense of the examinations of State banks as provided in this
22Act, shall to the extent of the amounts resulting from the fees
23provided for in paragraphs (a), (a-2), and (b) of this
24subsection (3) be assessed against and borne by the State
25banks:
26        (a) Each bank shall pay to the Secretary a Call Report

 

 

HB5260- 22 -LRB097 17482 PJG 62685 b

1    Fee which shall be paid in quarterly installments equal to
2    one-fourth of the sum of the annual fixed fee of $800, plus
3    a variable fee based on the assets shown on the quarterly
4    statement of condition delivered to the Secretary in
5    accordance with Section 47 for the preceding quarter
6    according to the following schedule: 16¢ per $1,000 of the
7    first $5,000,000 of total assets, 15¢ per $1,000 of the
8    next $20,000,000 of total assets, 13¢ per $1,000 of the
9    next $75,000,000 of total assets, 9¢ per $1,000 of the next
10    $400,000,000 of total assets, 7¢ per $1,000 of the next
11    $500,000,000 of total assets, and 5¢ per $1,000 of all
12    assets in excess of $1,000,000,000, of the State bank. The
13    Call Report Fee shall be calculated by the Secretary and
14    billed to the banks for remittance at the time of the
15    quarterly statements of condition provided for in Section
16    47. The Secretary may require payment of the fees provided
17    in this Section by an electronic transfer of funds or an
18    automatic debit of an account of each of the State banks.
19    In case more than one examination of any bank is deemed by
20    the Secretary to be necessary in any examination frequency
21    cycle specified in subsection 2(a) of this Section, and is
22    performed at his direction, the Secretary may assess a
23    reasonable additional fee to recover the cost of the
24    additional examination; provided, however, that an
25    examination conducted at the request of the State Treasurer
26    pursuant to the Uniform Disposition of Unclaimed Property

 

 

HB5260- 23 -LRB097 17482 PJG 62685 b

1    Act shall not be deemed to be an additional examination
2    under this Section. In lieu of the method and amounts set
3    forth in this paragraph (a) for the calculation of the Call
4    Report Fee, the Secretary may specify by rule that the Call
5    Report Fees provided by this Section may be assessed
6    semiannually or some other period and may provide in the
7    rule the formula to be used for calculating and assessing
8    the periodic Call Report Fees to be paid by State banks.
9        (a-1) If in the opinion of the Secretary Commissioner
10    an emergency exists or appears likely, the Secretary
11    Commissioner may assign an examiner or examiners to monitor
12    the affairs of a State bank with whatever frequency he
13    deems appropriate, including but not limited to a daily
14    basis. The reasonable and necessary expenses of the
15    Secretary Commissioner during the period of the monitoring
16    shall be borne by the subject bank. The Secretary
17    Commissioner shall furnish the State bank a statement of
18    time and expenses if requested to do so within 30 days of
19    the conclusion of the monitoring period.
20        (a-2) On and after January 1, 1990, the reasonable and
21    necessary expenses of the Secretary Commissioner during
22    examination of the performance of electronic data
23    processing services under subsection (2.5) shall be borne
24    by the banks for which the services are provided. An
25    amount, based upon a fee structure prescribed by the
26    Secretary Commissioner, shall be paid by the banks or,

 

 

HB5260- 24 -LRB097 17482 PJG 62685 b

1    after May 31, 1997, branches of out-of-state banks
2    receiving the electronic data processing services along
3    with the Call Report Fee assessed under paragraph (a) of
4    this subsection (3).
5        (a-3) After May 31, 1997, the reasonable and necessary
6    expenses of the Secretary Commissioner during examination
7    of the performance of electronic data processing services
8    under subsection (2.5) at or on behalf of branches of
9    out-of-state banks shall be borne by the out-of-state
10    banks, unless those expenses are borne by the state
11    regulatory authorities that chartered the out-of-state
12    banks, as determined by cooperative agreements between the
13    Secretary Commissioner and the state regulatory
14    authorities that chartered the out-of-state banks.
15        (b) "Fiscal year" for purposes of this Section 48 is
16    defined as a period beginning July 1 of any year and ending
17    June 30 of the next year. The Secretary Commissioner shall
18    receive for each fiscal year, commencing with the fiscal
19    year ending June 30, 1987, a contingent fee equal to the
20    lesser of the aggregate of the fees paid by all State banks
21    under paragraph (a) of subsection (3) for that year, or the
22    amount, if any, whereby the aggregate of the administration
23    expenses, as defined in paragraph (c), for that fiscal year
24    exceeds the sum of the aggregate of the fees payable by all
25    State banks for that year under paragraph (a) of subsection
26    (3), plus any amounts transferred into the Bank and Trust

 

 

HB5260- 25 -LRB097 17482 PJG 62685 b

1    Company Fund from the State Pensions Fund for that year,
2    plus all other amounts collected by the Secretary
3    Commissioner for that year under any other provision of
4    this Act, plus the aggregate of all fees collected for that
5    year by the Secretary Commissioner under the Corporate
6    Fiduciary Act, excluding the receivership fees provided
7    for in Section 5-10 of the Corporate Fiduciary Act, and the
8    Foreign Banking Office Act. The aggregate amount of the
9    contingent fee thus arrived at for any fiscal year shall be
10    apportioned amongst, assessed upon, and paid by the State
11    banks and foreign banking corporations, respectively, in
12    the same proportion that the fee of each under paragraph
13    (a) of subsection (3), respectively, for that year bears to
14    the aggregate for that year of the fees collected under
15    paragraph (a) of subsection (3). The aggregate amount of
16    the contingent fee, and the portion thereof to be assessed
17    upon each State bank and foreign banking corporation,
18    respectively, shall be determined by the Secretary
19    Commissioner and shall be paid by each, respectively,
20    within 120 days of the close of the period for which the
21    contingent fee is computed and is payable, and the
22    Secretary Commissioner shall give 20 days advance notice of
23    the amount of the contingent fee payable by the State bank
24    and of the date fixed by the Secretary Commissioner for
25    payment of the fee.
26        (c) The "administration expenses" for any fiscal year

 

 

HB5260- 26 -LRB097 17482 PJG 62685 b

1    shall mean the ordinary and contingent expenses for that
2    year incident to making the examinations provided for by,
3    and for otherwise administering, this Act, the Corporate
4    Fiduciary Act, excluding the expenses paid from the
5    Corporate Fiduciary Receivership account in the Bank and
6    Trust Company Fund, the Foreign Banking Office Act, the
7    Electronic Fund Transfer Act, and the Illinois Bank
8    Examiners' Education Foundation Act, including all
9    salaries and other compensation paid for personal services
10    rendered for the State by officers or employees of the
11    State, including the Secretary Commissioner and his or her
12    designee the Deputy Commissioners, communication equipment
13    and services, office furnishings, surety bond premiums,
14    and travel expenses of those officers and employees,
15    employees, expenditures or charges for the acquisition,
16    enlargement or improvement of, or for the use of, any
17    office space, building, or structure, or expenditures for
18    the maintenance thereof or for furnishing heat, light, or
19    power with respect thereto, all to the extent that those
20    expenditures are directly incidental to such examinations
21    or administration. The Secretary Commissioner shall not be
22    required by paragraphs (c) or (d-1) of this subsection (3)
23    to maintain in any fiscal year's budget appropriated
24    reserves for accrued vacation and accrued sick leave that
25    is required to be paid to employees of the Secretary
26    Commissioner upon termination of their service with the

 

 

HB5260- 27 -LRB097 17482 PJG 62685 b

1    Secretary Commissioner in an amount that is more than is
2    reasonably anticipated to be necessary for any anticipated
3    turnover in employees, whether due to normal attrition or
4    due to layoffs, terminations, or resignations.
5        (d) The aggregate of all fees collected by the
6    Secretary under this Act, the Corporate Fiduciary Act, or
7    the Foreign Banking Office Act on and after July 1, 1979,
8    shall be paid promptly after receipt of the same,
9    accompanied by a detailed statement thereof, into the State
10    treasury and shall be set apart in a special fund to be
11    known as the "Bank and Trust Company Fund", except as
12    provided in paragraph (c) of subsection (11) of this
13    Section. All earnings received from investments of funds in
14    the Bank and Trust Company Fund shall be deposited in the
15    Bank and Trust Company Fund and may be used for the same
16    purposes as fees deposited in that Fund. The amount from
17    time to time deposited into the Bank and Trust Company Fund
18    shall be used: (i) to offset the ordinary administrative
19    expenses of the Secretary as defined in this Section or
20    (ii) as a credit against fees under paragraph (d-1) of this
21    subsection (3). Nothing in this amendatory Act of 1979
22    shall prevent continuing the practice of paying expenses
23    involving salaries, retirement, social security, and
24    State-paid insurance premiums of State officers by
25    appropriations from the General Revenue Fund. However, the
26    General Revenue Fund shall be reimbursed for those payments

 

 

HB5260- 28 -LRB097 17482 PJG 62685 b

1    made on and after July 1, 1979, by an annual transfer of
2    funds from the Bank and Trust Company Fund. Moneys in the
3    Bank and Trust Company Fund may be transferred to the
4    Professions Indirect Cost Fund, as authorized under
5    Section 2105-300 of the Department of Professional
6    Regulation Law of the Civil Administrative Code of
7    Illinois.
8        Notwithstanding provisions in the State Finance Act,
9    as now or hereafter amended, or any other law to the
10    contrary, the sum of $18,788,847 shall be transferred from
11    the Bank and Trust Company Fund to the Financial
12    Institutions Settlement of 2008 Fund on the effective date
13    of this amendatory Act of the 95th General Assembly, or as
14    soon thereafter as practical.
15        Notwithstanding provisions in the State Finance Act,
16    as now or hereafter amended, or any other law to the
17    contrary, the Governor may, during any fiscal year through
18    January 10, 2011, from time to time direct the State
19    Treasurer and Comptroller to transfer a specified sum not
20    exceeding 10% of the revenues to be deposited into the Bank
21    and Trust Company Fund during that fiscal year from that
22    Fund to the General Revenue Fund in order to help defray
23    the State's operating costs for the fiscal year.
24    Notwithstanding provisions in the State Finance Act, as now
25    or hereafter amended, or any other law to the contrary, the
26    total sum transferred during any fiscal year through

 

 

HB5260- 29 -LRB097 17482 PJG 62685 b

1    January 10, 2011, from the Bank and Trust Company Fund to
2    the General Revenue Fund pursuant to this provision shall
3    not exceed during any fiscal year 10% of the revenues to be
4    deposited into the Bank and Trust Company Fund during that
5    fiscal year. The State Treasurer and Comptroller shall
6    transfer the amounts designated under this Section as soon
7    as may be practicable after receiving the direction to
8    transfer from the Governor.
9        (d-1) Adequate funds shall be available in the Bank and
10    Trust Company Fund to permit the timely payment of
11    administration expenses. In each fiscal year the total
12    administration expenses shall be deducted from the total
13    fees collected by the Secretary Commissioner and the
14    remainder transferred into the Cash Flow Reserve Account,
15    unless the balance of the Cash Flow Reserve Account prior
16    to the transfer equals or exceeds one-fourth of the total
17    initial appropriations from the Bank and Trust Company Fund
18    for the subsequent year, in which case the remainder shall
19    be credited to State banks and foreign banking corporations
20    and applied against their fees for the subsequent year. The
21    amount credited to each State bank and foreign banking
22    corporation shall be in the same proportion as the Call
23    Report Fees paid by each for the year bear to the total
24    Call Report Fees collected for the year. If, after a
25    transfer to the Cash Flow Reserve Account is made or if no
26    remainder is available for transfer, the balance of the

 

 

HB5260- 30 -LRB097 17482 PJG 62685 b

1    Cash Flow Reserve Account is less than one-fourth of the
2    total initial appropriations for the subsequent year and
3    the amount transferred is less than 5% of the total Call
4    Report Fees for the year, additional amounts needed to make
5    the transfer equal to 5% of the total Call Report Fees for
6    the year shall be apportioned amongst, assessed upon, and
7    paid by the State banks and foreign banking corporations in
8    the same proportion that the Call Report Fees of each,
9    respectively, for the year bear to the total Call Report
10    Fees collected for the year. The additional amounts
11    assessed shall be transferred into the Cash Flow Reserve
12    Account. For purposes of this paragraph (d-1), the
13    calculation of the fees collected by the Secretary
14    Commissioner shall exclude the receivership fees provided
15    for in Section 5-10 of the Corporate Fiduciary Act.
16        (e) The Secretary Commissioner may upon request
17    certify to any public record in his keeping and shall have
18    authority to levy a reasonable charge for issuing
19    certifications of any public record in his keeping.
20        (f) In addition to fees authorized elsewhere in this
21    Act, the Secretary Commissioner may, in connection with a
22    review, approval, or provision of a service, levy a
23    reasonable charge to recover the cost of the review,
24    approval, or service.
25    (4) Nothing contained in this Act shall be construed to
26limit the obligation relative to examinations and reports of

 

 

HB5260- 31 -LRB097 17482 PJG 62685 b

1any State bank, deposits in which are to any extent insured by
2the United States or any agency thereof, nor to limit in any
3way the powers of the Secretary Commissioner with reference to
4examinations and reports of that bank.
5    (5) The nature and condition of the assets in or investment
6of any bonus, pension, or profit sharing plan for officers or
7employees of every State bank or, after May 31, 1997, branch of
8an out-of-state bank shall be deemed to be included in the
9affairs of that State bank or branch of an out-of-state bank
10subject to examination by the Secretary Commissioner under the
11provisions of subsection (2) of this Section, and if the
12Secretary Commissioner shall find from an examination that the
13condition of or operation of the investments or assets of the
14plan is unlawful, fraudulent, or unsafe, or that any trustee
15has abused his trust, the Secretary Commissioner shall, if the
16situation so found by the Secretary Commissioner shall not be
17corrected to his satisfaction within 60 days after the
18Secretary Commissioner has given notice to the board of
19directors of the State bank or out-of-state bank of his
20findings, report the facts to the Attorney General who shall
21thereupon institute proceedings against the State bank or
22out-of-state bank, the board of directors thereof, or the
23trustees under such plan as the nature of the case may require.
24    (6) The Secretary Commissioner shall have the power:
25        (a) To promulgate reasonable rules for the purpose of
26    administering the provisions of this Act.

 

 

HB5260- 32 -LRB097 17482 PJG 62685 b

1        (a-5) To impose conditions on any approval issued by
2    the Secretary Commissioner if he determines that the
3    conditions are necessary or appropriate. These conditions
4    shall be imposed in writing and shall continue in effect
5    for the period prescribed by the Secretary Commissioner.
6        (b) To issue orders against any person, if the
7    Secretary Commissioner has reasonable cause to believe
8    that an unsafe or unsound banking practice has occurred, is
9    occurring, or is about to occur, if any person has
10    violated, is violating, or is about to violate any law,
11    rule, or written agreement with the Secretary
12    Commissioner, or for the purpose of administering the
13    provisions of this Act and any rule promulgated in
14    accordance with this Act.
15        (b-1) To enter into agreements with a bank establishing
16    a program to correct the condition of the bank or its
17    practices.
18        (c) To appoint hearing officers to execute any of the
19    powers granted to the Secretary Commissioner under this
20    Section for the purpose of administering this Act and any
21    rule promulgated in accordance with this Act and otherwise
22    to authorize, in writing, an officer or employee of the
23    Office of Banks and Real Estate to exercise his powers
24    under this Act.
25        (d) To subpoena witnesses, to compel their attendance,
26    to administer an oath, to examine any person under oath,

 

 

HB5260- 33 -LRB097 17482 PJG 62685 b

1    and to require the production of any relevant books,
2    papers, accounts, and documents in the course of and
3    pursuant to any investigation being conducted, or any
4    action being taken, by the Secretary Commissioner in
5    respect of any matter relating to the duties imposed upon,
6    or the powers vested in, the Secretary Commissioner under
7    the provisions of this Act or any rule promulgated in
8    accordance with this Act.
9        (e) To conduct hearings.
10    (7) Whenever, in the opinion of the Secretary, any
11director, officer, employee, or agent of a State bank or any
12subsidiary or bank holding company of the bank or, after May
1331, 1997, of any branch of an out-of-state bank or any
14subsidiary or bank holding company of the bank shall have
15violated any law, rule, or order relating to that bank or any
16subsidiary or bank holding company of the bank, shall have
17obstructed or impeded any examination or investigation by the
18Secretary, shall have engaged in an unsafe or unsound practice
19in conducting the business of that bank or any subsidiary or
20bank holding company of the bank, or shall have violated any
21law or engaged or participated in any unsafe or unsound
22practice in connection with any financial institution or other
23business entity such that the character and fitness of the
24director, officer, employee, or agent does not assure
25reasonable promise of safe and sound operation of the State
26bank, the Secretary may issue an order of removal. If, in the

 

 

HB5260- 34 -LRB097 17482 PJG 62685 b

1opinion of the Secretary, any former director, officer,
2employee, or agent of a State bank or any subsidiary or bank
3holding company of the bank, prior to the termination of his or
4her service with that bank or any subsidiary or bank holding
5company of the bank, violated any law, rule, or order relating
6to that State bank or any subsidiary or bank holding company of
7the bank, obstructed or impeded any examination or
8investigation by the Secretary, engaged in an unsafe or unsound
9practice in conducting the business of that bank or any
10subsidiary or bank holding company of the bank, or violated any
11law or engaged or participated in any unsafe or unsound
12practice in connection with any financial institution or other
13business entity such that the character and fitness of the
14director, officer, employee, or agent would not have assured
15reasonable promise of safe and sound operation of the State
16bank, the Secretary may issue an order prohibiting that person
17from further service with a bank or any subsidiary or bank
18holding company of the bank as a director, officer, employee,
19or agent. An order issued pursuant to this subsection shall be
20served upon the director, officer, employee, or agent. A copy
21of the order shall be sent to each director of the bank
22affected by registered mail. A copy of the order shall also be
23served upon the bank of which he is a director, officer,
24employee, or agent, whereupon he shall cease to be a director,
25officer, employee, or agent of that bank. The Secretary may
26institute a civil action against the director, officer, or

 

 

HB5260- 35 -LRB097 17482 PJG 62685 b

1agent of the State bank or, after May 31, 1997, of the branch
2of the out-of-state bank against whom any order provided for by
3this subsection (7) of this Section 48 has been issued, and
4against the State bank or, after May 31, 1997, out-of-state
5bank, to enforce compliance with or to enjoin any violation of
6the terms of the order. Any person who has been the subject of
7an order of removal or an order of prohibition issued by the
8Secretary under this subsection or Section 5-6 of the Corporate
9Fiduciary Act may not thereafter serve as director, officer,
10employee, or agent of any State bank or of any branch of any
11out-of-state bank, or of any corporate fiduciary, as defined in
12Section 1-5.05 of the Corporate Fiduciary Act, or of any other
13entity that is subject to licensure or regulation by the
14Division of Banking unless the Secretary has granted prior
15approval in writing.
16    For purposes of this paragraph (7), "bank holding company"
17has the meaning prescribed in Section 2 of the Illinois Bank
18Holding Company Act of 1957.
19    (8) The Secretary Commissioner may impose civil penalties
20of up to $100,000 against any person for each violation of any
21provision of this Act, any rule promulgated in accordance with
22this Act, any order of the Secretary Commissioner, or any other
23action which in the Secretary's Commissioner's discretion is an
24unsafe or unsound banking practice.
25    (9) The Secretary Commissioner may impose civil penalties
26of up to $100 against any person for the first failure to

 

 

HB5260- 36 -LRB097 17482 PJG 62685 b

1comply with reporting requirements set forth in the report of
2examination of the bank and up to $200 for the second and
3subsequent failures to comply with those reporting
4requirements.
5    (10) All final administrative decisions of the Secretary
6Commissioner hereunder shall be subject to judicial review
7pursuant to the provisions of the Administrative Review Law.
8For matters involving administrative review, venue shall be in
9either Sangamon County or Cook County.
10    (11) The endowment fund for the Illinois Bank Examiners'
11Education Foundation shall be administered as follows:
12        (a) (Blank).
13        (b) The Foundation is empowered to receive voluntary
14    contributions, gifts, grants, bequests, and donations on
15    behalf of the Illinois Bank Examiners' Education
16    Foundation from national banks and other persons for the
17    purpose of funding the endowment of the Illinois Bank
18    Examiners' Education Foundation.
19        (c) The aggregate of all special educational fees
20    collected by the Secretary and property received by the
21    Secretary on behalf of the Illinois Bank Examiners'
22    Education Foundation under this subsection (11) on or after
23    June 30, 1986, shall be either (i) promptly paid after
24    receipt of the same, accompanied by a detailed statement
25    thereof, into the State Treasury and shall be set apart in
26    a special fund to be known as "The Illinois Bank Examiners'

 

 

HB5260- 37 -LRB097 17482 PJG 62685 b

1    Education Fund" to be invested by either the Treasurer of
2    the State of Illinois in the Public Treasurers' Investment
3    Pool or in any other investment he is authorized to make or
4    by the Illinois State Board of Investment as the State
5    Banking Board of Illinois may direct or (ii) deposited into
6    an account maintained in a commercial bank or corporate
7    fiduciary in the name of the Illinois Bank Examiners'
8    Education Foundation pursuant to the order and direction of
9    the Board of Trustees of the Illinois Bank Examiners'
10    Education Foundation.
11    (12) (Blank).
12    (13) The Secretary may borrow funds from the General
13Revenue Fund on behalf of the Bank and Trust Company Fund if
14the Director of Banking certifies to the Governor that there is
15an economic emergency affecting banking that requires a
16borrowing to provide additional funds to the Bank and Trust
17Company Fund. The borrowed funds shall be paid back within 3
18years and shall not exceed the total funding appropriated to
19the Agency in the previous year.
20    (14) The Secretary when appointed as receiver or any person
21appointed as receiver shall have all of the powers, rights, and
22privileges as the Federal Deposit Insurance Corporation, which
23shall originate at the time of the appointment and continue
24through the term of the receivership.
25(Source: P.A. 96-1163, eff. 1-1-11; 96-1365, eff. 7-28-10;
2697-333, eff. 8-12-11.)
 

 

 

HB5260- 38 -LRB097 17482 PJG 62685 b

1    (205 ILCS 5/48.05)
2    Sec. 48.05. Regulatory fees. For the fiscal year beginning
3July 1, 2007 and every year thereafter, each state bank
4regulated by the Department shall pay a regulatory fee to the
5Department based upon its total assets as reflected in the most
6recent quarterly report of condition shown by its year-end Call
7Report at the following rates:
8        19.295¢ per $1,000 of the first $5,000,000 of total
9    assets;
10        18.16¢ per $1,000 of the next $20,000,000 of total
11    assets;
12        15.89¢ per $1,000 of the next $75,000,000 of total
13    assets;
14        10.7825¢ per $1,000 of the next $400,000,000 of total
15    assets;
16        8.5125¢ per $1,000 of the next $500,000,000 of total
17    assets;
18        6.2425¢ per $1,000 of the next $19,000,000,000 of total
19    assets;
20        2.27¢ per $1,000 of the next $30,000,000,000 of total
21    assets;
22        1.135¢ per $1,000 of the next $50,000,000,000 of total
23    assets; and
24        0.5675¢ per $1,000 of all assets in excess of
25    $100,000,000,000 of the state bank.

 

 

HB5260- 39 -LRB097 17482 PJG 62685 b

1(Source: P.A. 95-1047, eff. 4-6-09.)
 
2    (205 ILCS 5/48.3)  (from Ch. 17, par. 360.2)
3    Sec. 48.3. Disclosure of reports of examinations and
4confidential supervisory information; limitations.
5    (a) Any report of examination, visitation, or
6investigation prepared by the Secretary Commissioner under
7this Act, the Electronic Fund Transfer Act, the Corporate
8Fiduciary Act, the Illinois Bank Holding Company Act of 1957,
9and the Foreign Banking Office Act, any report of examination,
10visitation, or investigation prepared by the state regulatory
11authority of another state that examines a branch of an
12Illinois State bank in that state, any document or record
13prepared or obtained in connection with or relating to any
14examination, visitation, or investigation, and any record
15prepared or obtained by the Secretary Commissioner to the
16extent that the record summarizes or contains information
17derived from any report, document, or record described in this
18subsection shall be deemed "confidential supervisory
19information". Confidential supervisory information shall not
20include any information or record routinely prepared by a bank
21or other financial institution and maintained in the ordinary
22course of business or any information or record that is
23required to be made publicly available pursuant to State or
24federal law or rule. Confidential supervisory information
25shall be the property of the Secretary Commissioner and shall

 

 

HB5260- 40 -LRB097 17482 PJG 62685 b

1only be disclosed under the circumstances and for the purposes
2set forth in this Section.
3     The Secretary Commissioner may disclose confidential
4supervisory information only under the following
5circumstances:
6        (1) The Secretary Commissioner may furnish
7    confidential supervisory information to the Board of
8    Governors of the Federal Reserve System, the federal
9    reserve bank of the federal reserve district in which the
10    State bank is located or in which the parent or other
11    affiliate of the State bank is located, any official or
12    examiner thereof duly accredited for the purpose, or any
13    other state regulator, federal regulator, or in the case of
14    a foreign bank possessing a certificate of authority
15    pursuant to the Foreign Banking Office Act or a license
16    pursuant to the Foreign Bank Representative Office Act, the
17    bank regulator in the country where the foreign bank is
18    chartered, that the Secretary Commissioner determines to
19    have an appropriate regulatory interest. Nothing contained
20    in this Act shall be construed to limit the obligation of
21    any member State bank to comply with the requirements
22    relative to examinations and reports of the Federal Reserve
23    Act and of the Board of Governors of the Federal Reserve
24    System or the federal reserve bank of the federal reserve
25    district in which the bank is located, nor to limit in any
26    way the powers of the Secretary Commissioner with reference

 

 

HB5260- 41 -LRB097 17482 PJG 62685 b

1    to examinations and reports.
2        (2) The Secretary Commissioner may furnish
3    confidential supervisory information to the United States,
4    any agency thereof that has insured a bank's deposits in
5    whole or in part, or any official or examiner thereof duly
6    accredited for the purpose. Nothing contained in this Act
7    shall be construed to limit the obligation relative to
8    examinations and reports of any State bank, deposits in
9    which are to any extent insured by the United States, any
10    agency thereof, nor to limit in any way the powers of the
11    Secretary Commissioner with reference to examination and
12    reports of such bank.
13        (3) The Secretary Commissioner may furnish
14    confidential supervisory information to the appropriate
15    law enforcement authorities when the Secretary
16    Commissioner reasonably believes a bank, which the
17    Secretary Commissioner has caused to be examined, has been
18    a victim of a crime.
19        (4) The Secretary Commissioner may furnish
20    confidential supervisory information relating to a bank or
21    other financial institution, which the Secretary
22    Commissioner has caused to be examined, to be sent to the
23    administrator of the Uniform Disposition of Unclaimed
24    Property Act.
25        (5) The Secretary Commissioner may furnish
26    confidential supervisory information relating to a bank or

 

 

HB5260- 42 -LRB097 17482 PJG 62685 b

1    other financial institution, which the Secretary
2    Commissioner has caused to be examined, relating to its
3    performance of obligations under the Illinois Income Tax
4    Act and the Illinois Estate and Generation-Skipping
5    Transfer Tax Act to the Illinois Department of Revenue.
6        (6) The Secretary Commissioner may furnish
7    confidential supervisory information relating to a bank or
8    other financial institution, which the Secretary
9    Commissioner has caused to be examined, under the federal
10    Currency and Foreign Transactions Reporting Act, Title 31,
11    United States Code, Section 1051 et seq.
12        (6.5) The Secretary Commissioner may furnish
13    confidential supervisory information to any other agency
14    or entity that the Secretary Commissioner determines to
15    have a legitimate regulatory interest.
16        (7) The Secretary Commissioner may furnish
17    confidential supervisory information under any other
18    statute that by its terms or by regulations promulgated
19    thereunder requires the disclosure of financial records
20    other than by subpoena, summons, warrant, or court order.
21        (8) At the request of the affected bank or other
22    financial institution, the Secretary Commissioner may
23    furnish confidential supervisory information relating to a
24    bank or other financial institution, which the Secretary
25    Commissioner has caused to be examined, in connection with
26    the obtaining of insurance coverage or the pursuit of an

 

 

HB5260- 43 -LRB097 17482 PJG 62685 b

1    insurance claim for or on behalf of the bank or other
2    financial institution; provided that, when possible, the
3    Secretary Commissioner shall disclose only relevant
4    information while maintaining the confidentiality of
5    financial records not relevant to such insurance coverage
6    or claim and, when appropriate, may delete identifying data
7    relating to any person or individual.
8        (9) The Secretary Commissioner may furnish a copy of a
9    report of any examination performed by the Secretary
10    Commissioner of the condition and affairs of any electronic
11    data processing entity to the banks serviced by the
12    electronic data processing entity.
13        (10) In addition to the foregoing circumstances, the
14    Secretary Commissioner may, but is not required to, furnish
15    confidential supervisory information under the same
16    circumstances authorized for the bank or financial
17    institution pursuant to subsection (b) of this Section,
18    except that the Secretary Commissioner shall provide
19    confidential supervisory information under circumstances
20    described in paragraph (3) of subsection (b) of this
21    Section only upon the request of the bank or other
22    financial institution.
23    (b) A bank or other financial institution or its officers,
24agents, and employees may disclose confidential supervisory
25information only under the following circumstances:
26        (1) to the board of directors of the bank or other

 

 

HB5260- 44 -LRB097 17482 PJG 62685 b

1    financial institution, as well as the president,
2    vice-president, cashier, and other officers of the bank or
3    other financial institution to whom the board of directors
4    may delegate duties with respect to compliance with
5    recommendations for action, and to the board of directors
6    of a bank holding company that owns at least 80% of the
7    outstanding stock of the bank or other financial
8    institution;
9        (2) to attorneys for the bank or other financial
10    institution and to a certified public accountant engaged by
11    the State bank or financial institution to perform an
12    independent audit provided that the attorney or certified
13    public accountant shall not permit the confidential
14    supervisory information to be further disseminated;
15        (3) to any person who seeks to acquire a controlling
16    interest in, or who seeks to merge with, the bank or
17    financial institution, provided that all attorneys,
18    certified public accountants, officers, agents, or
19    employees of that person shall agree to be bound to respect
20    the confidentiality of the confidential supervisory
21    information and to not further disseminate the information
22    therein contained;
23        (4) (blank); or
24        (5) to the bank's insurance company in relation to an
25    insurance claim or the effort by the bank to procure
26    insurance coverage, provided that, when possible, the bank

 

 

HB5260- 45 -LRB097 17482 PJG 62685 b

1    shall disclose only information that is relevant to the
2    insurance claim or that is necessary to procure the
3    insurance coverage, while maintaining the confidentiality
4    of financial information pertaining to customers. When
5    appropriate, the bank may delete identifying data relating
6    to any person; or .
7        (6) to any person conducting a review of the bank on
8    behalf of the bank for purposes of complying with any
9    enforcement action taken by a bank regulatory agency so
10    long as the bank obtains pre-approval for release of said
11    confidential supervisory information by the Secretary and
12    said person agrees to maintain the confidentiality of the
13    confidential supervisory information and to not further
14    disseminate the confidential supervisory information.
15    The disclosure of confidential supervisory information by
16a bank or other financial institution pursuant to this
17subsection (b) and the disclosure of information to the
18Secretary Commissioner or other regulatory agency in
19connection with any examination, visitation, or investigation
20shall not constitute a waiver of any legal privilege otherwise
21available to the bank or other financial institution with
22respect to the information.
23    (c) (1) Notwithstanding any other provision of this Act or
24any other law, confidential supervisory information shall be
25the property of the Secretary Commissioner and shall be
26privileged from disclosure to any person except as provided in

 

 

HB5260- 46 -LRB097 17482 PJG 62685 b

1this Section. No person in possession of confidential
2supervisory information may disclose that information for any
3reason or under any circumstances not specified in this Section
4without the prior authorization of the Secretary Commissioner.
5Any person upon whom a demand for production of confidential
6supervisory information is made, whether by subpoena, order, or
7other judicial or administrative process, must withhold
8production of the confidential supervisory information and
9must notify the Secretary Commissioner of the demand, at which
10time the Secretary Commissioner is authorized to intervene for
11the purpose of enforcing the limitations of this Section or
12seeking the withdrawal or termination of the attempt to compel
13production of the confidential supervisory information.
14    (2) Any request for discovery or disclosure of confidential
15supervisory information, whether by subpoena, order, or other
16judicial or administrative process, shall be made to the
17Secretary Commissioner, and the Secretary Commissioner shall
18determine within 15 days whether to disclose the information
19pursuant to procedures and standards that the Secretary
20Commissioner shall establish by rule. If the Secretary
21Commissioner determines that such information will not be
22disclosed, the Secretary's Commissioner's decision shall be
23subject to judicial review under the provisions of the
24Administrative Review Law, and venue shall be in either
25Sangamon County or Cook County.
26    (3) Any court order that compels disclosure of confidential

 

 

HB5260- 47 -LRB097 17482 PJG 62685 b

1supervisory information may be immediately appealed by the
2Secretary Commissioner, and the order shall be automatically
3stayed pending the outcome of the appeal.
4    (d) If any officer, agent, attorney, or employee of a bank
5or financial institution knowingly and willfully furnishes
6confidential supervisory information in violation of this
7Section, the Secretary Commissioner may impose a civil monetary
8penalty up to $1,000 for the violation against the officer,
9agent, attorney, or employee.
10(Source: P.A. 90-301, eff. 8-1-97; 91-201, eff. 1-1-00.)
 
11    (205 ILCS 105/Act rep.)
12    Section 22. The Illinois Savings and Loan Act of 1985 is
13repealed.
 
14    Section 25. The Savings Bank Act is amended by changing
15Sections 1007.130, 2007, 3003, 4008, 4010, 4013, 6002, 6013,
166014, 9002, 9002.5, and 9012 and by adding Articles 12.1 and
1712.2 and Section 9002.1 as follows:
 
18    (205 ILCS 205/1007.130)
19    Sec. 1007.130. Out-of-state savings bank. "Out-of-state
20savings bank" means a savings bank or a savings and loan
21association chartered under the laws of a state other than
22Illinois, a territory of the United States, or the District of
23Columbia.

 

 

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1(Source: P.A. 93-965, eff. 8-20-04.)
 
2    (205 ILCS 205/2007)  (from Ch. 17, par. 7302-7)
3    Sec. 2007. Reorganization to become a holding company.
4    (a) A savings bank, including a mutual savings bank
5operating under this Act, may reorganize so as to become a
6holding company by:
7        (1) chartering one or more subsidiary savings banks,
8    the ownership of which shall be evidenced by stock shares,
9    to be owned by the chartering parent savings bank; and
10        (2) either of the following:
11            (i) transferring the substantial portion of its
12        assets and all of its insured deposits and part or all
13        of its other liabilities to one or more subsidiary
14        savings banks; or
15            (ii) reorganizing in any other manner as approved
16        by the Secretary.
17    (b) In order to effect reorganization under subsection (a),
18the board of directors of the original savings bank must
19approve a plan providing for the reorganization that shall be
20submitted for approval by a majority of the voting members of
21the savings bank. Approval must occur in accordance with the
22savings bank's articles of incorporation and bylaws at a
23meeting called by the board of directors. The Secretary may
24charter mutual and stock holding companies in connection with a
25mutual savings bank reorganization and may promulgate rules to

 

 

HB5260- 49 -LRB097 17482 PJG 62685 b

1regulate the formation of and the ongoing business of the
2subsidiaries and the holding company, including the rights of
3members, levels of investment in holding company subsidiaries,
4and stock sales.
5(Source: P.A. 97-492, eff. 1-1-12.)
 
6    (205 ILCS 205/3003)  (from Ch. 17, par. 7303-3)
7    Sec. 3003. Contents of articles of incorporation.
8    (a) The articles of incorporation shall set forth:
9        (1) The name of the savings bank.
10        (2) The initial location of the business office.
11        (3) The duration of existence, which shall be perpetual
12    unless otherwise specified.
13        (4) The initial number of directors, not less than 5.
14        (5) The authorization, if any, to issue deposit
15    accounts, the aggregate amount of which may be unlimited.
16        (6) The authorization, if any, to issue stock, the
17    aggregate number of shares and the par value per share,
18    which shall not be less than $1.
19        (7) The quorum required for action of members if a
20    quorum other than that specified in this Act is desired.
21        (8) Any other provision, not inconsistent with law,
22    which the subscribers or members may desire, for the
23    internal regulation of the affairs of the savings bank.
24    (b) A savings bank may include in its original articles of
25incorporation or amended articles a requirement that proposed

 

 

HB5260- 50 -LRB097 17482 PJG 62685 b

1amendments to the articles of incorporation shall be adopted by
2the affirmative vote of two-thirds of the total number of votes
3entitled to be cast.
4    (c) The articles of incorporation need not set forth any of
5the powers that this Act confers.
6(Source: P.A. 89-74, eff. 6-30-95.)
 
7    (205 ILCS 205/4008)  (from Ch. 17, par. 7304-8)
8    Sec. 4008. Directors. The business and affairs of the
9savings bank shall be exercised by its elected board of
10directors. The board of directors shall consist of the number
11of directors fixed by the bylaws, but shall not be fewer than
125. No more than 40% of the directors shall be salaried
13employees of the savings bank, except that a higher percentage
14may be allowed with the prior written approval of the Secretary
15Commissioner. At least two-thirds of the directors shall be
16residents of this State.
17(Source: P.A. 90-301, eff. 8-1-97.)
 
18    (205 ILCS 205/4010)  (from Ch. 17, par. 7304-10)
19    Sec. 4010. Conduct of directors and officers.
20    (a) Directors and officers occupy a fiduciary relationship
21to the savings bank of which they are directors or officers,
22and a director or officer shall not engage or participate,
23directly or indirectly, in any business or transaction
24conducted on behalf of or involving the savings bank that would

 

 

HB5260- 51 -LRB097 17482 PJG 62685 b

1result in a conflict of their own personal interests with those
2of the savings bank which they serve, unless: (i) the business
3or transactions are conducted in good faith and are honest,
4fair, and reasonable to the savings bank; (ii) a full
5disclosure of the business or transaction and the nature of the
6director's or officer's interest is made to the board of
7directors; and (iii) the business or transaction is approved in
8good faith by the board of directors with any interested
9director abstaining. The approval of the business or
10transaction shall be recorded in the minutes. Any profits
11inuring to the officer or director shall not be at the expense
12of the savings bank. The business or transaction shall not
13represent a breach of the officer's or director's fiduciary
14duty and shall not be fraudulent or illegal. Notwithstanding
15any other provisions of this Section, the Secretary
16Commissioner may require the disclosure by directors,
17officers, and employees of their personal interest, directly or
18indirectly, in any business or transaction on behalf of or
19involving the savings bank and of their control of or active
20participation in enterprises having activities related to the
21business of the savings bank. The following restrictions
22governing the conduct of directors and officers expressly are
23specified, but that specification does not excuse those persons
24from the observance of any other aspect of the general
25fiduciary duty owed by them to the savings bank which they
26serve:

 

 

HB5260- 52 -LRB097 17482 PJG 62685 b

1        (1) An officer or director of a mutual savings bank
2    shall not hold office or status as a director or officer of
3    another mutual savings bank subject to this Act.
4        (2) A director shall receive as remuneration only
5    reasonable fees for services as a director or for service
6    as a member of a committee of directors. A director who is
7    also an officer or employee of the savings bank may receive
8    compensation for service as an officer or employee.
9        (3) A director or officer shall not have any interest,
10    direct or indirect, in the purchase at less than its face
11    value of any evidence of a savings account, deposit, or
12    other indebtedness issued by the savings bank.
13        (4) A savings bank or director or officer thereof shall
14    not directly or indirectly require, as a condition to the
15    granting of any loan or the extension of any other service
16    by the savings bank or its affiliates that the borrower or
17    any other person undertake a contract of insurance or any
18    other agreement or understanding with respect to the direct
19    or indirect furnishing of any other goods or services with
20    any specific company, agency, or individual.
21        (5) An officer or director acting as proxy for a member
22    of a mutual savings bank shall not exercise, transfer, or
23    delegate that right in any consideration of a private
24    benefit or advantage, direct or indirect, accruing to
25    himself nor surrender control or pass his office to any
26    other for any consideration of a private benefit or

 

 

HB5260- 53 -LRB097 17482 PJG 62685 b

1    advantage, direct or indirect. The voting rights of members
2    shall not be the subject of sale or similar transaction,
3    either directly or indirectly. Any officer or director who
4    violates the provisions of this subsection shall be held
5    accountable to the savings bank for any increment.
6        (6) A director or officer shall not solicit, accept, or
7    agree to accept, directly or indirectly, from any person
8    other than the savings bank any gratuity, compensation, or
9    other personal benefit for any action taken by the savings
10    bank or for endeavoring to procure any action by the
11    savings bank.
12        (7) A Subject to the approval of the Commissioner, a
13    savings bank's bylaws may provide for reasonable
14    indemnification to its officers, directors, and employees
15    in connection with the faithful performance of their duties
16    for the savings bank. The Secretary Commissioner may
17    promulgate model indemnification provisions and may
18    consider provisions available under the Business
19    Corporation Act of 1983, the Illinois Banking Act, and
20    those available to national banks.
21    (b) The bylaws of a savings bank may contain a provision
22providing that a director is not personally liable to the
23savings bank or its shareholders for monetary damages for a
24breach of the director's fiduciary duty; provided, however,
25that such provision may not eliminate or limit the liability of
26a director for any of the following:

 

 

HB5260- 54 -LRB097 17482 PJG 62685 b

1        (1) An act or omission that is grossly negligent.
2        (2) A breach of the director's duty of loyalty to the
3    savings bank or its shareholders.
4        (3) Acts or omissions not in good faith or that involve
5    intentional misconduct or a knowing violation of law.
6        (4) A transaction from which the director derived an
7    improper personal benefit.
8        (5) An act or omission occurring before the effective
9    date of the provision in the bylaws authorized by this
10    subsection.
11(Source: P.A. 89-320, eff. 1-1-96.)
 
12    (205 ILCS 205/4013)  (from Ch. 17, par. 7304-13)
13    Sec. 4013. Access to books and records; communication with
14members and shareholders.
15    (a) Every customer member or shareholder shall have the
16right to inspect financial books and records of the savings
17bank that pertain to his or her accounts. Otherwise, the right
18of inspection and examination of the books and records shall be
19limited as provided in this Act. Only members shall be entitled
20to a list of members of the savings bank , and no other person
21shall have access to the books and records nor shall be
22entitled to a list of the members or shareholders.
23    (b) For the purpose of this Section, the term "financial
24records" means any original, any copy, or any summary of (1) a
25document granting signature authority over a deposit or

 

 

HB5260- 55 -LRB097 17482 PJG 62685 b

1account; (2) a statement, ledger card, or other record on any
2deposit or account that shows each transaction in or with
3respect to that account; (3) a check, draft, or money order
4drawn on a savings bank or issued and payable by a savings
5bank; or (4) any other item containing information pertaining
6to any relationship established in the ordinary course of a
7savings bank's business between a savings bank and its
8customer, including financial statements or other financial
9information provided by the customer member or shareholder.
10    (b-5) For purposes of this Section, subject to the
11Secretary's rules, the term "customer" means a person who
12applies for or is provided with a financial service or product
13by the savings bank. "Customer" does not include a person who
14(i) is a customer of another financial institution and the
15savings bank acts solely as agent for, or provides processing
16or other services to, that other financial institution; (ii)
17solely has designated the savings bank as trustee for a trust;
18(iii) solely is a beneficiary of a trust for which the savings
19bank is a trustee; or (iv) solely is a participant or a
20beneficiary of an employee benefit plan that the savings bank
21sponsors or for which the savings bank acts as a trustee or
22fiduciary.
23    (c) This Section does not prohibit:
24        (1) The preparation examination, handling, or
25    maintenance of any financial records by any officer,
26    employee, or agent of a savings bank having custody of

 

 

HB5260- 56 -LRB097 17482 PJG 62685 b

1    records or examination of records by a certified public
2    accountant engaged by the savings bank to perform an
3    independent audit.
4        (2) The examination of any financial records by, or the
5    furnishing of financial records by a savings bank to, any
6    officer, employee, or agent of the Secretary Commissioner
7    of Banks and Real Estate or the federal depository
8    institution regulator for use solely in the exercise of his
9    duties as an officer, employee, or agent.
10        (3) The publication of data furnished from financial
11    records relating to customers members or holders of capital
12    where the data cannot be identified to any particular
13    customer member, shareholder, or account.
14        (4) The making of reports or returns required under
15    Chapter 61 of the Internal Revenue Code of 1986.
16        (5) Furnishing information concerning the dishonor of
17    any negotiable instrument permitted to be disclosed under
18    the Uniform Commercial Code.
19        (6) The exchange in the regular course of business of
20    (i) credit information between a savings bank and other
21    savings banks or financial institutions or commercial
22    enterprises, directly or through a consumer reporting
23    agency or (ii) financial records or information derived
24    from financial records between a savings bank and other
25    savings banks or financial institutions or commercial
26    enterprises for the purpose of conducting due diligence

 

 

HB5260- 57 -LRB097 17482 PJG 62685 b

1    pursuant to a purchase or sale involving the savings bank
2    or assets or liabilities of the savings bank.
3        (7) The furnishing of information to the appropriate
4    law enforcement authorities where the savings bank
5    reasonably believes it has been the victim of a crime.
6        (8) The furnishing of information pursuant to the
7    Uniform Disposition of Unclaimed Property Act.
8        (9) The furnishing of information pursuant to the
9    Illinois Income Tax Act and the Illinois Estate and
10    Generation-Skipping Transfer Tax Act.
11        (10) The furnishing of information pursuant to the
12    federal "Currency and Foreign Transactions Reporting Act",
13    (Title 31, United States Code, Section 1051 et seq.).
14        (11) The furnishing of information pursuant to any
15    other statute which by its terms or by regulations
16    promulgated thereunder requires the disclosure of
17    financial records other than by subpoena, summons,
18    warrant, or court order.
19        (12) The furnishing of information in accordance with
20    the federal Personal Responsibility and Work Opportunity
21    Reconciliation Act of 1996. Any savings bank governed by
22    this Act shall enter into an agreement for data exchanges
23    with a State agency provided the State agency pays to the
24    savings bank a reasonable fee not to exceed its actual cost
25    incurred. A savings bank providing information in
26    accordance with this item shall not be liable to any

 

 

HB5260- 58 -LRB097 17482 PJG 62685 b

1    account holder or other person for any disclosure of
2    information to a State agency, for encumbering or
3    surrendering any assets held by the savings bank in
4    response to a lien or order to withhold and deliver issued
5    by a State agency, or for any other action taken pursuant
6    to this item, including individual or mechanical errors,
7    provided the action does not constitute gross negligence or
8    willful misconduct. A savings bank shall have no obligation
9    to hold, encumber, or surrender assets until it has been
10    served with a subpoena, summons, warrant, court or
11    administrative order, lien, or levy.
12        (13) The furnishing of information to law enforcement
13    authorities, the Illinois Department on Aging and its
14    regional administrative and provider agencies, the
15    Department of Human Services Office of Inspector General,
16    or public guardians: (i) upon subpoena by the investigatory
17    entity or the guardian, or (ii) if there is suspicion by
18    the savings bank that a customer who is an elderly or
19    disabled person has been or may become the victim of
20    financial exploitation. For the purposes of this item (13),
21    the term: (i) "elderly person" means a person who is 60 or
22    more years of age, (ii) "disabled person" means a person
23    who has or reasonably appears to the savings bank to have a
24    physical or mental disability that impairs his or her
25    ability to seek or obtain protection from or prevent
26    financial exploitation, and (iii) "financial exploitation"

 

 

HB5260- 59 -LRB097 17482 PJG 62685 b

1    means tortious or illegal use of the assets or resources of
2    an elderly or disabled person, and includes, without
3    limitation, misappropriation of the elderly or disabled
4    person's assets or resources by undue influence, breach of
5    fiduciary relationship, intimidation, fraud, deception,
6    extortion, or the use of assets or resources in any manner
7    contrary to law. A savings bank or person furnishing
8    information pursuant to this item (13) shall be entitled to
9    the same rights and protections as a person furnishing
10    information under the Elder Abuse and Neglect Act, the
11    Illinois Domestic Violence Act of 1986, and the Abuse of
12    Adults with Disabilities Intervention Act.
13        (14) The disclosure of financial records or
14    information as necessary to effect, administer, or enforce
15    a transaction requested or authorized by the customer
16    member or holder of capital, or in connection with:
17            (A) servicing or processing a financial product or
18        service requested or authorized by the customer member
19        or holder of capital;
20            (B) maintaining or servicing an account of a
21        customer member or holder of capital with the savings
22        bank; or
23            (C) a proposed or actual securitization or
24        secondary market sale (including sales of servicing
25        rights) related to a transaction of a customer member
26        or holder of capital.

 

 

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1        Nothing in this item (14), however, authorizes the sale
2    of the financial records or information of a customer
3    member or holder of capital without the consent of the
4    customer member or holder of capital.
5        (15) The exchange in the regular course of business of
6    information between a savings bank and any commonly owned
7    affiliate of the savings bank, subject to the provisions of
8    the Financial Institutions Insurance Sales Law.
9        (16) The disclosure of financial records or
10    information as necessary to protect against or prevent
11    actual or potential fraud, unauthorized transactions,
12    claims, or other liability.
13        (17)(a) The disclosure of financial records or
14    information related to a private label credit program
15    between a financial institution and a private label party
16    in connection with that private label credit program. Such
17    information is limited to outstanding balance, available
18    credit, payment and performance and account history,
19    product references, purchase information, and information
20    related to the identity of the customer.
21        (b)(l) For purposes of this paragraph (17) of
22    subsection (c) of Section 4013, a "private label credit
23    program" means a credit program involving a financial
24    institution and a private label party that is used by a
25    customer of the financial institution and the private label
26    party primarily for payment for goods or services sold,

 

 

HB5260- 61 -LRB097 17482 PJG 62685 b

1    manufactured, or distributed by a private label party.
2        (2) For purposes of this paragraph (17) of subsection
3    (c) of Section 4013, a "private label party" means, with
4    respect to a private label credit program, any of the
5    following: a retailer, a merchant, a manufacturer, a trade
6    group, or any such person's affiliate, subsidiary, member,
7    agent, or service provider.
8    (d) A savings bank may not disclose to any person, except
9to the customer member or holder of capital or his duly
10authorized agent, any financial records relating to that
11customer member or shareholder of the savings bank unless:
12        (1) the customer member or shareholder has authorized
13    disclosure to the person; or
14        (2) the financial records are disclosed in response to
15    a lawful subpoena, summons, warrant, citation to discover
16    assets, or court order that meets the requirements of
17    subsection (e) of this Section.
18    (e) A savings bank shall disclose financial records under
19subsection (d) of this Section pursuant to a lawful subpoena,
20summons, warrant, citation to discover assets, or court order
21only after the savings bank mails a copy of the subpoena,
22summons, warrant, citation to discover assets, or court order
23to the person establishing the relationship with the savings
24bank, if living, and otherwise, his personal representative, if
25known, at his last known address by first class mail, postage
26prepaid, unless the savings bank is specifically prohibited

 

 

HB5260- 62 -LRB097 17482 PJG 62685 b

1from notifying the person by order of court.
2    (f) Any officer or employee of a savings bank who knowingly
3and willfully furnishes financial records in violation of this
4Section is guilty of a business offense and, upon conviction,
5shall be fined not more than $1,000.
6    (g) Any person who knowingly and willfully induces or
7attempts to induce any officer or employee of a savings bank to
8disclose financial records in violation of this Section is
9guilty of a business offense and, upon conviction, shall be
10fined not more than $1,000.
11    (h) If any member or shareholder desires to communicate
12with the other members or shareholders of the savings bank with
13reference to any question pending or to be presented at an
14annual or special meeting, the savings bank shall give that
15person, upon request, a statement of the approximate number of
16members or shareholders entitled to vote at the meeting and an
17estimate of the cost of preparing and mailing the
18communication. The requesting member shall submit the
19communication to the Secretary Commissioner who, upon finding
20it to be appropriate and truthful, shall direct that it be
21prepared and mailed to the members upon the requesting member's
22or shareholder's payment or adequate provision for payment of
23the expenses of preparation and mailing.
24    (i) A savings bank shall be reimbursed for costs that are
25necessary and that have been directly incurred in searching
26for, reproducing, or transporting books, papers, records, or

 

 

HB5260- 63 -LRB097 17482 PJG 62685 b

1other data of a customer required to be reproduced pursuant to
2a lawful subpoena, warrant, citation to discover assets, or
3court order.
4    (j) Notwithstanding the provisions of this Section, a
5savings bank may sell or otherwise make use of lists of
6customers' names and addresses. All other information
7regarding a customer's account are subject to the disclosure
8provisions of this Section. At the request of any customer,
9that customer's name and address shall be deleted from any list
10that is to be sold or used in any other manner beyond
11identification of the customer's accounts.
12(Source: P.A. 94-495, eff. 8-8-05; 94-851, eff. 6-13-06;
1395-661, eff. 1-1-08.)
 
14    (205 ILCS 205/6002)  (from Ch. 17, par. 7306-2)
15    Sec. 6002. Investment in loans. Subject to the regulations
16of the Secretary Commissioner, a savings bank may loan funds as
17follows:
18    (1) On the security of deposit accounts, but no such loan
19shall exceed the withdrawal value of the pledged account.
20    (2) On the security of real estate:
21        (A) of a value, determined in accordance with this Act,
22    sufficient to provide good and ample security for the loan;
23        (B) with a fee simple title or a leasehold title;
24        (C) with the title established by evidence of title as
25    is consistent with sound lending practices in the locality;

 

 

HB5260- 64 -LRB097 17482 PJG 62685 b

1        (D) with the security interest in the real estate
2    evidenced by an appropriate written instrument and the loan
3    evidenced by a note, bond, or similar written instrument; a
4    loan on the security of the whole of the beneficial
5    interest in a land trust satisfies the requirements of this
6    paragraph if the title to the land is held by a corporate
7    trustee and if the real estate held in the land trust meets
8    the other requirements of this subsection;
9        (E) with a mortgage loan not to exceed 40 years.
10    (3) For the purpose of repair, improvement,
11rehabilitation, furnishing, or equipment of real estate.
12    (4) For the purpose of financing or refinancing an existing
13ownership interest in certificates of stock, certificates of
14beneficial interest, other evidence of an ownership interest
15in, or a proprietary lease from a corporation, trust, or
16partnership formed for the purpose of the cooperative ownership
17of real estate, secured by the assignment or transfer of
18certificates or other evidence of ownership of the borrower.
19    (5) Through the purchase of loans that, at the time of
20purchase, the savings bank could make in accordance with this
21Section and the bylaws.
22    (6) Through the purchase of installment contracts for the
23sale of real estate and title thereto that is subject to the
24contracts, but in each instance only if the savings bank, at
25the time of purchase, could make a mortgage loan of the same
26amount and for the same length of time on the security of the

 

 

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1real estate.
2    (7) Through loans guaranteed or insured, wholly or in part,
3by the United States or any of its instrumentalities.
4    (8) Subject to regulations adopted by the Secretary
5Commissioner, through secured or unsecured loans for business,
6corporate, commercial, or agricultural purposes; provided that
7the total of all loans granted under this paragraph shall not
8exceed 15% of the savings bank's total assets unless a greater
9amount is authorized in writing by the Secretary Commissioner.
10    (9) For the purpose of mobile home financing subject,
11however, to the regulation of the Secretary Commissioner.
12    (10) Through loans secured by the cash surrender value of
13any life insurance policy or any collateral that would be a
14legal investment under the terms of this Act if made by the
15savings bank.
16    (11) Any provision of this Act or any other law, except for
17paragraph (18) of Section 6003, to the contrary
18notwithstanding, but subject to the Financial Institutions
19Insurance Sales Law and subject to the Secretary's
20Commissioner's regulations, any savings bank may make any loan
21or investment or engage in any activity that it could make or
22engage in if it were organized under State law as a savings and
23loan association or under federal law as a federal savings and
24loan association or federal savings bank.
25    (12) A savings bank may issue letters of credit or other
26similar arrangements only as provided for by regulation of the

 

 

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1Secretary Commissioner with regard to aggregate amounts
2permitted, take out commitments for stand-by letters of credit,
3underlying documentation and underwriting, legal limitations
4on loans of the savings bank, control and subsidiary records,
5and other procedures deemed necessary by the Secretary
6Commissioner.
7    (13) For the purpose of vehicle automobile financing,
8subject to the regulation of the Secretary. "Vehicle" shall
9include all motorized forms of transportation that constitute
10adequate collateral Commissioner.
11    (14) For the purpose of financing primary, secondary,
12undergraduate, or postgraduate education.
13    (15) Through revolving lines of credit on the security of a
14first or junior lien on the borrower's personal residence,
15based primarily on the borrower's equity, the proceeds of which
16may be used for any purpose; those loans being commonly
17referred to as home equity loans.
18    (16) As secured or unsecured credit to cover the payment of
19checks, drafts, or other funds transfer orders in excess of the
20available balance of an account on which they are drawn,
21subject to the regulations of the Secretary Commissioner.
22(Source: P.A. 90-301, eff. 8-1-97; 91-97, eff. 7-9-99.)
 
23    (205 ILCS 205/6013)  (from Ch. 17, par. 7306-13)
24    Sec. 6013. Loans to one borrower.
25    (a) Except as provided in subsection (c), the total loans

 

 

HB5260- 67 -LRB097 17482 PJG 62685 b

1and extensions of credit, both direct and indirect, by a
2savings bank to any person, other than a municipal corporation
3for money borrowed, outstanding at one time shall not exceed
425% of the savings bank's total capital plus general loan loss
5reserves.
6    (b) Except as provided in subsection (c), the total loans
7and extensions of credit, both direct and indirect, by a
8savings bank to any person outstanding at one time and at least
9100% secured by readily marketable collateral having a market
10value, as determined by reliable and continuously available
11price quotations, shall not exceed 10% of the savings bank's
12total capital plus general loan loss reserves. This limitation
13shall be separate from and in addition to the limitation
14contained in subsection (a).
15    (c) If the limit under subsection (a) or (b) on total loans
16to one borrower is less than $500,000, a savings bank that
17meets its minimum capital requirement under this Act may have
18loan and extensions of credit, both direct and indirect,
19outstanding to any person at one time not to exceed $500,000.
20With the prior written approval of the Secretary Commissioner,
21a savings bank that has capital in excess of 6% of assets may
22make loans and extensions of credit to one borrower for the
23development of residential housing properties, located or to be
24located in this State, not to exceed 30% of the savings bank's
25total capital plus general loan loss reserves.
26    (d) For purposes of this Section, the term "person" shall

 

 

HB5260- 68 -LRB097 17482 PJG 62685 b

1be deemed to include an individual, firm, corporation, business
2trust, partnership, trust, estate, association, joint venture,
3pool, syndicate, sole proprietorship, unincorporated
4association, any political subdivision, or any similar entity
5or organization.
6    (e) For the purposes of this Section any loan or extension
7of credit granted to one person, the proceeds of which are used
8for the direct benefit of a second person, shall be deemed a
9loan or extension of credit to the second person as well as the
10first person. In addition, a loan or extension of credit to one
11person shall be deemed a loan or extension of credit to others
12when a common enterprise exists between the first person and
13such other persons.
14    (f) For the purposes of this Section, the total liabilities
15of a firm, partnership, pool, syndicate, or joint venture shall
16include the liabilities of the members of the entity.
17    (g) For the purposes of this Section, the term "readily
18marketable collateral" means financial instruments or bullion
19that are salable under ordinary circumstances with reasonable
20promptness at a fair market value on an auction or a similarly
21available daily bid-and-ask price market. "Financial
22instruments" include stocks, bonds, notes, debentures traded
23on a national exchange or over the counter, commercial paper,
24negotiable certificates of deposit, bankers' acceptances, and
25shares in money market or mutual funds.
26    (h) Each savings bank shall institute adequate procedures

 

 

HB5260- 69 -LRB097 17482 PJG 62685 b

1to ensure that collateral fully secures the outstanding loan or
2extension of credit at all times.
3    (i) If collateral values fall below 100% of the outstanding
4loan or extension of credit to the extent that the loan or
5extension of credit no longer is in conformance with subsection
6(b) and exceeds the 25% limitation of subsection (a), the loan
7must be brought into conformance with this Section within 5
8business days except where judicial proceedings or other
9similar extraordinary occurrences prevent the savings bank
10from taking action.
11    (j) This Section shall not apply to loans or extensions of
12credit to the United States of America or its agencies or this
13State or its agencies or to any loan, investment, or extension
14of credit made pursuant to Section 6003 of this Act.
15    (k) This Section does not apply to the obligations as
16endorser, whether with or without recourse, or as guarantor,
17whether conditional or unconditional, of negotiable or
18nonnegotiable installment consumer paper of the person
19transferring the same if the bank's files or the knowledge of
20its officers of the financial condition of each maker of those
21obligations is reasonably adequate and if an officer of the
22bank, designated for that purpose by the board of directors of
23the bank, certifies that the responsibility of each maker of
24the obligations has been evaluated and that the bank is relying
25primarily upon each maker for the payment of the obligations.
26The certification shall be in writing and shall be retained as

 

 

HB5260- 70 -LRB097 17482 PJG 62685 b

1part of the records of the bank.
2    (l) The following shall be considered a loan or extension
3of credit within the meaning of this Section:
4        (1) all direct or indirect advances of funds to a
5    person made on the basis of any obligation of that person
6    to repay the funds or repayable from specific property
7    pledged by or on behalf of the person;
8        (2) to the extent specified by the Secretary, any
9    liability of a savings bank to advance funds to or on
10    behalf of a person pursuant to a contractual commitment;
11    and
12        (3) any credit exposure to a person arising from a
13    derivative transaction, repurchase agreement, reverse
14    repurchase agreement, securities lending transaction, or
15    securities borrowing transaction between the savings bank
16    and the person; the term "derivative transaction" includes
17    any transaction that is a contract, agreement, swap,
18    warrant, note, or option that is based, in whole or in
19    part, on the value of, any interest in, or any quantitative
20    measure or the occurrence of any event relating to, one or
21    more commodities, securities, currencies, interest or
22    other rates, indices, or other assets.
23    (m) The Secretary Commissioner may prescribe rules to carry
24out the purposes of this Section and to establish limits or
25requirements other than those specified in this Section for
26particular types of loans and extensions of credit.

 

 

HB5260- 71 -LRB097 17482 PJG 62685 b

1(Source: P.A. 92-483, eff. 8-23-01; 92-700, eff. 7-19-02.)
 
2    (205 ILCS 205/6014)  (from Ch. 17, par. 7306-14)
3    Sec. 6014. Secretary's Commissioner's regulations.
4    (a) The Secretary may Commissioner shall promulgate rules
5and regulations to determine permissible levels of investment
6and permissible concentrations of assets for savings banks
7applicable to all lending and investment authority granted by
8this Article 6. The rules and regulations shall give due regard
9to capital adequacy, operating income, underwriting standards,
10risk inherent in the investment or loan, and competitive parity
11with other financial institutions.
12    (b) Violations of any of the provisions of this Article 6
13shall constitute an unsafe and unsound practice and may subject
14the savings bank, its directors, officers, or agents to
15enforcement actions, civil money penalties, or other sanctions
16as provided in this Act.
17(Source: P.A. 86-1213.)
 
18    (205 ILCS 205/9002)  (from Ch. 17, par. 7309-2)
19    Sec. 9002. Powers of Secretary. The Secretary shall have
20the following powers and duties:
21        (1) To exercise the rights, powers, and duties set
22    forth in this Act or in any related Act.
23        (2) To establish regulations as may be reasonable or
24    necessary to accomplish the purposes of this Act.

 

 

HB5260- 72 -LRB097 17482 PJG 62685 b

1        (3) To make an annual report regarding the work of his
2    office under this Act as he may consider desirable to the
3    Governor, or as the Governor may request.
4        (4) To cause a suit to be filed in his name to enforce
5    any law of this State that applies to savings banks, their
6    service corporations, subsidiaries, affiliates, or holding
7    companies operating under this Act, including the
8    enforcement of any obligation of the officers, directors,
9    agents, or employees of any savings bank.
10        (5) To prescribe a uniform manner in which the books
11    and records of every savings bank are to be maintained.
12        (6) To establish a reasonable fee structure for savings
13    banks and holding companies operating under this Act and
14    for their service corporations and subsidiaries. The fees
15    shall include, but not be limited to, annual fees,
16    application fees, regular and special examination fees,
17    and other fees as the Secretary establishes and
18    demonstrates to be directly resultant from the Secretary's
19    responsibilities under this Act and as are directly
20    attributable to individual entities operating under this
21    Act. The aggregate of all moneys collected by the Secretary
22    on and after the effective date of this Act shall be paid
23    promptly after receipt of the same, accompanied by a
24    detailed statement thereof, into the Savings and
25    Residential Finance Regulatory Fund subject to the
26    provisions of Section 7-19.1 of the Illinois Savings and

 

 

HB5260- 73 -LRB097 17482 PJG 62685 b

1    Loan Act of 1985 including without limitation the provision
2    for credits against regulatory fees. The amounts deposited
3    into the Fund shall be used for the ordinary and contingent
4    expenses of the Office of Banks and Real Estate.
5    Notwithstanding any other provision of this paragraph (6),
6    the aggregate of all moneys collected by the Secretary
7    under this Act shall be paid promptly after receipt of
8    same, accompanied by a detailed statement thereof, into the
9    Savings Institutions Regulatory Fund upon the creation of
10    that fund under Section 7-19.2 of the Illinois Savings and
11    Loan Act of 1985, subject to the provisions of Section
12    7-19.2 of the Illinois Savings and Loan Act of 1985,
13    including without limitation the provision for credits
14    against regulatory fees. The amounts deposited into the
15    Savings Institutions Regulatory Fund under this paragraph
16    (6) shall be used for the ordinary and contingent expenses
17    of administering and enforcing this Act. Nothing in this
18    Act shall prevent continuing the practice of paying
19    expenses involving salaries, retirement, social security,
20    and State-paid insurance of State officers by
21    appropriation from the General Revenue Fund. The Secretary
22    may require payment of the fees under this Act by an
23    electronic transfer of funds or an automatic debit of an
24    account of each of the savings banks.
25        (7) The Secretary or any person appointed as receiver
26    shall have all of the powers, rights, and privileges as the

 

 

HB5260- 74 -LRB097 17482 PJG 62685 b

1    Federal Deposit Insurance Corporation when appointed as
2    receiver, which shall originate at the time of the
3    appointment and continue through the term of the
4    receivership.
5(Source: P.A. 96-1365, eff. 7-28-10; 97-492, eff. 1-1-12.)
 
6    (205 ILCS 205/9002.1 new)
7    Sec. 9002.1. Savings Institutions Regulatory Fund.
8    (a) The aggregate of all moneys collected by the Secretary
9under this Act shall be paid promptly after receipt of the
10same, accompanied by a detailed statement thereof, into the
11State treasury and shall be set apart in the Savings
12Institutions Regulatory Fund, a special fund created in the
13State treasury. The amounts deposited into the Fund shall be
14used for the ordinary and contingent expenses of the Department
15of Financial and Professional Regulation and the Division of
16Banking, or their successors, in administering and enforcing
17the Savings Bank Act and other laws, rules, and regulations as
18may apply to the administration and enforcement of the
19foregoing laws, rules, and regulations, as amended from time to
20time. Nothing in this Act shall prevent continuing the practice
21of paying expenses involving salaries, retirement, Social
22Security, and State paid insurance of State officers by
23appropriation from the General Revenue Fund.
24    (b) Moneys in the Savings Institutions Regulatory Fund may
25be transferred to the Professions Indirect Cost Fund as

 

 

HB5260- 75 -LRB097 17482 PJG 62685 b

1authorized under Section 2105-300 of the Department of
2Professional Regulation Law of the Civil Administrative Code of
3Illinois.
4    (c) All earnings received from investments of funds in the
5Savings Institutions Regulatory Fund shall be deposited into
6that Fund and may be used for the same purposes as fees
7deposited into that Fund.
8    (d) When the balance in the Savings Institutions Regulatory
9Fund at the end of a fiscal year exceeds 25% of the total
10actual administrative and operational expenses incurred by the
11State for that fiscal year in administering and enforcing the
12Savings Bank Act and such other laws, rules, and regulations as
13may apply to the administration and enforcement of the
14foregoing laws, rules, and regulations, the excess shall be
15credited to the appropriate savings banks and entities and
16applied against their regulatory fees for the subsequent fiscal
17year. The amount credited to each savings bank or entity shall
18be in the same proportion that the regulatory fees paid by the
19savings bank or entity for the fiscal year in which the excess
20is produced bear to the aggregate amount of all fees collected
21by the Secretary under the Savings Bank Act for the same fiscal
22year. For the purpose of this Section, "fiscal year" means the
23period beginning July 1 of any year and ending June 30 of the
24next calendar year.
25    (e) Moneys in the Residential Finance Regulatory Fund
26apportioned to the moneys collected under the Illinois Savings

 

 

HB5260- 76 -LRB097 17482 PJG 62685 b

1and Loan Act of 1985 and the Savings Bank Act shall be
2transferred to the Savings Institutions Regulatory Fund. Any
3amount used or borrowed from the moneys apportioned to the
4moneys collected under the Illinois Savings and Loan Act of
51985 and this Act that would have been required to be returned
6to that apportionment shall be instead paid into the Savings
7Institutions Regulatory Fund in the same manner.
 
8    (205 ILCS 205/9002.5)
9    Sec. 9002.5. Regulatory fees.
10    (a) For the fiscal year beginning July 1, 2007 and every
11year thereafter, each savings bank and each service corporation
12operating under this Act shall pay in quarterly installments
13equal to one-fourth of a fixed fee of $520, plus a variable fee
14based on one-fourth of the total assets of the savings bank or
15service corporation, as shown in the corresponding quarterly
16statement of condition, at the following rates:
17        24.97¢ per $1,000 of the first $2,000,000 of total
18    assets;
19        22.70¢ per $1,000 of the next $3,000,000 of total
20    assets;
21        20.43¢ per $1,000 of the next $5,000,000 of total
22    assets;
23        17.025¢ per $1,000 of the next $15,000,000 of total
24    assets;
25        14.755¢ per $1,000 of the next $25,000,000 of total

 

 

HB5260- 77 -LRB097 17482 PJG 62685 b

1    assets;
2        12.485¢ per $1,000 of the next $50,000,000 of total
3    assets;
4        10.215¢ per $1,000 of the next $400,000,000 of total
5    assets;
6        6.81¢ per $1,000 of the next $500,000,000 of total
7    assets; and
8        4.54¢ per $1,000 of all total assets in excess of
9    $1,000,000,000 of such savings bank or service
10    corporation.
11    "Quarterly statement of condition" means the Report of
12Condition and Income (Call Report) filed with the appropriate
13federal banking agency, as defined by Section 3 of the Federal
14Deposit Insurance Act (12 U.S.C. 1813).
15    (b) (Blank). The Secretary shall receive and there shall be
16paid to the Secretary an additional fee as an adjustment to the
17supervisory fee, based upon the difference between the total
18assets of each savings bank and each service corporation as
19shown by its financial report filed with the Secretary for the
20reporting period of the calendar year ended December 31 on
21which the supervisory fee was based and the total assets of
22each savings bank and each service corporation as shown by its
23financial report filed with the Secretary for the reporting
24period of the calendar year ended December 31 in which the
25quarterly payments are made according to the following
26schedule:

 

 

HB5260- 78 -LRB097 17482 PJG 62685 b

1        24.97¢ per $1,000 of the first $2,000,000 of total
2    assets;
3        22.70¢ per $1,000 of the next $3,000,000 of total
4    assets;
5        20.43¢ per $1,000 of the next $5,000,000 of total
6    assets;
7        17.025¢ per $1,000 of the next $15,000,000 of total
8    assets;
9        14.755¢ per $1,000 of the next $25,000,000 of total
10    assets;
11        12.485¢ per $1,000 of the next $50,000,000 of total
12    assets;
13        10.215¢ per $1,000 of the next $400,000,000 of total
14    assets;
15        6.81¢ per $1,000 of the next $500,000,000 of total
16    assets; and
17        4.54¢ per $1,000 of all total assets in excess of
18    $1,000,000,000 of such savings bank or service
19    corporation.
20    (c) (Blank). The Secretary shall receive and there shall be
21paid to the Secretary by each savings bank and each service
22corporation a fee of $520 for each approved branch office or
23facility office established under the Illinois Administrative
24Code. The determination of the fees shall be made annually as
25of the close of business of the prior calendar year ended
26December 31.

 

 

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1    (d) The Secretary shall receive for each fiscal year,
2commencing with the fiscal year ending June 30, 2013, a
3contingent fee equal to the lesser of the aggregate of the fees
4paid by all savings banks under subsection (a) of this Section
5for that year, or the amount, if any, whereby the aggregate of
6the administration expenses, as defined in subsection (e) of
7this Section, for that fiscal year exceeds the sum of the
8aggregate of the fees payable by all savings banks for that
9year under subsection (a) of this Section, plus any amounts
10transferred into the Savings Institutions Regulatory Fund from
11the State Pensions Fund for that year, plus all other amounts
12collected by the Secretary for that year under any other
13provision of this Act. The aggregate amount of the contingent
14fee thus arrived at for any fiscal year shall be apportioned
15amongst, assessed upon, and paid by the savings banks,
16respectively, in the same proportion that the fee of each under
17subsection (a) of this Section for that year bears to the
18aggregate for that year of the fees collected under subsection
19(a) of this Section. The aggregate amount of the contingent
20fee, and the portion thereof to be assessed upon each savings
21bank, respectively, shall be determined by the Secretary and
22shall be paid by each, respectively, within 120 days after the
23close of the period for which the contingent fee is computed
24and is payable, and the Secretary shall give advance notice of
25the amount of the contingent fee payable by the savings bank
26and of the date fixed by the Secretary for payment of the fee.

 

 

HB5260- 80 -LRB097 17482 PJG 62685 b

1    (e) For purposes of subsection (d) of this Section, the
2following terms shall have the following meanings:
3        (1) "administration expenses" means for any fiscal
4    year the ordinary and contingent expenses for that year
5    incident to making the examinations provided for by, and
6    for otherwise administering, this Act, including all
7    salaries and other compensation paid for personal services
8    rendered for the State by officers or employees of the
9    State, including the Secretary and the Director,
10    communication equipment and services, office furnishings,
11    surety bond premiums, and travel expenses of those officers
12    and employees, employees, expenditures or charges for the
13    acquisition, enlargement, or improvement of, or for the use
14    of, any office space, building, or structure, or
15    expenditures for the maintenance thereof or for furnishing
16    heat, light, or power with respect thereto, all to the
17    extent that those expenditures are directly incidental to
18    such examinations or administration; the Secretary shall
19    not be required by this subsection to maintain in any
20    fiscal year's budget appropriated reserves for accrued
21    vacation and accrued sick leave that is required to be paid
22    to employees of the Secretary upon termination of their
23    service with the Secretary in an amount that is more than
24    is reasonably anticipated to be necessary for any
25    anticipated turnover in employees, whether due to normal
26    attrition or due to layoffs, terminations, or

 

 

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1    resignations; and
2        (2) "fiscal year" means a period beginning July 1 of
3    any year and ending June 30 of the next year.
4(Source: P.A. 95-1047, eff. 4-6-09.)
 
5    (205 ILCS 205/9012)  (from Ch. 17, par. 7309-12)
6    Sec. 9012. Disclosure of reports of examinations and
7confidential supervisory information; limitations.
8    (a) Any report of examination, visitation, or
9investigation prepared by the Secretary Commissioner under
10this Act, any report of examination, visitation, or
11investigation prepared by the state regulatory authority of
12another state that examines a branch of an Illinois State
13savings bank in that state, any document or record prepared or
14obtained in connection with or relating to any examination,
15visitation, or investigation, and any record prepared or
16obtained by the Secretary Commissioner to the extent that the
17record summarizes or contains information derived from any
18report, document, or record described in this subsection shall
19be deemed confidential supervisory information. "Confidential
20supervisory information" shall not include any information or
21record routinely prepared by a savings bank and maintained in
22the ordinary course of business or any information or record
23that is required to be made publicly available pursuant to
24State or federal law or rule. Confidential supervisory
25information shall be the property of the Secretary Commissioner

 

 

HB5260- 82 -LRB097 17482 PJG 62685 b

1and shall only be disclosed under the circumstances and for the
2purposes set forth in this Section.
3    The Secretary Commissioner may disclose confidential
4supervisory information only under the following
5circumstances:
6        (1) The Secretary Commissioner may furnish
7    confidential supervisory information to federal and state
8    depository institution regulators, or any official or
9    examiner thereof duly accredited for the purpose. Nothing
10    contained in this Act shall be construed to limit the
11    obligation of any savings bank to comply with the
12    requirements relative to examinations and reports nor to
13    limit in any way the powers of the Secretary Commissioner
14    relative to examinations and reports.
15        (2) The Secretary Commissioner may furnish
16    confidential supervisory information to the United States
17    or any agency thereof that to any extent has insured a
18    savings bank's deposits, or any official or examiner
19    thereof duly accredited for the purpose. Nothing contained
20    in this Act shall be construed to limit the obligation
21    relative to examinations and reports of any savings bank in
22    which deposits are to any extent insured by the United
23    States or any agency thereof nor to limit in any way the
24    powers of the Secretary Commissioner with reference to
25    examination and reports of the savings bank.
26        (3) The Secretary Commissioner may furnish

 

 

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1    confidential supervisory information to the appropriate
2    law enforcement authorities when the Secretary
3    Commissioner reasonably believes a savings bank, which the
4    Secretary Commissioner has caused to be examined, has been
5    a victim of a crime.
6        (4) The Secretary Commissioner may furnish
7    confidential supervisory information related to a savings
8    bank, which the Secretary Commissioner has caused to be
9    examined, to the administrator of the Uniform Disposition
10    of Unclaimed Property Act.
11        (5) The Secretary Commissioner may furnish
12    confidential supervisory information relating to a savings
13    bank, which the Secretary Commissioner has caused to be
14    examined, relating to its performance of obligations under
15    the Illinois Income Tax Act and the Illinois Estate and
16    Generation-Skipping Transfer Tax Act to the Illinois
17    Department of Revenue.
18        (6) The Secretary Commissioner may furnish
19    confidential supervisory information relating to a savings
20    bank, which the Secretary Commissioner has caused to be
21    examined, under the federal Currency and Foreign
22    Transactions Reporting Act, 31 United States Code, Section
23    1051 et seq.
24        (7) The Secretary Commissioner may furnish
25    confidential supervisory information to any other agency
26    or entity that the Secretary Commissioner determines to

 

 

HB5260- 84 -LRB097 17482 PJG 62685 b

1    have a legitimate regulatory interest.
2        (8) The Secretary Commissioner may furnish
3    confidential supervisory information as otherwise
4    permitted or required by this Act and may furnish
5    confidential supervisory information under any other
6    statute that by its terms or by regulations promulgated
7    thereunder requires the disclosure of financial records
8    other than by subpoena, summons, warrant, or court order.
9        (9) At the request of the affected savings bank, the
10    Secretary Commissioner may furnish confidential
11    supervisory information relating to the savings bank,
12    which the Secretary Commissioner has caused to be examined,
13    in connection with the obtaining of insurance coverage or
14    the pursuit of an insurance claim for or on behalf of the
15    savings bank; provided that, when possible, the Secretary
16    Commissioner shall disclose only relevant information
17    while maintaining the confidentiality of financial records
18    not relevant to such insurance coverage or claim and, when
19    appropriate, may delete identifying data relating to any
20    person.
21        (10) The Secretary Commissioner may furnish a copy of a
22    report of any examination performed by the Secretary
23    Commissioner of the condition and affairs of any electronic
24    data processing entity to the savings banks serviced by the
25    electronic data processing entity.
26        (11) In addition to the foregoing circumstances, the

 

 

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1    Secretary Commissioner may, but is not required to, furnish
2    confidential supervisory information under the same
3    circumstances authorized for the savings bank pursuant to
4    subsection (b) of this Section, except that the Secretary
5    Commissioner shall provide confidential supervisory
6    information under circumstances described in paragraph (3)
7    of subsection (b) of this Section only upon the request of
8    the savings bank.
9    (b) A savings bank or its officers, agents, and employees
10may disclose confidential supervisory information only under
11the following circumstances:
12        (1) to the board of directors of the savings bank, as
13    well as the president, vice-president, cashier, and other
14    officers of the savings bank to whom the board of directors
15    may delegate duties with respect to compliance with
16    recommendations for action, and to the board of directors
17    of a savings bank holding company that owns at least 80% of
18    the outstanding stock of the savings bank or other
19    financial institution; .
20        (2) to attorneys for the savings bank and to a
21    certified public accountant engaged by the savings bank to
22    perform an independent audit; provided that the attorney or
23    certified public accountant shall not permit the
24    confidential supervisory information to be further
25    disseminated; .
26        (3) to any person who seeks to acquire a controlling

 

 

HB5260- 86 -LRB097 17482 PJG 62685 b

1    interest in, or who seeks to merge with, the savings bank;
2    provided that the person shall agree to be bound to respect
3    the confidentiality of the confidential supervisory
4    information and to not further disseminate the information
5    other than to attorneys, certified public accountants,
6    officers, agents, or employees of that person who likewise
7    shall agree to be bound to respect the confidentiality of
8    the confidential supervisory information and to not
9    further disseminate the information; .
10        (4) to the savings bank's insurance company, if the
11    supervisory information contains information that is
12    otherwise unavailable and is strictly necessary to
13    obtaining insurance coverage or pursuing an insurance
14    claim for or on behalf of the savings bank; provided that,
15    when possible, the savings bank shall disclose only
16    information that is relevant to obtaining insurance
17    coverage or pursuing an insurance claim, while maintaining
18    the confidentiality of financial information pertaining to
19    customers; and provided further that, when appropriate,
20    the savings bank may delete identifying data relating to
21    any person; or .
22        (5) to any person conducting a review of the bank on
23    behalf of the bank for purposes of complying with any
24    enforcement action taken by a bank regulatory agency so
25    long as the bank obtains preapproval for release of said
26    confidential supervisory information by the Secretary and

 

 

HB5260- 87 -LRB097 17482 PJG 62685 b

1    said person agrees to maintain the confidentiality of the
2    confidential supervisory information and to not further
3    disseminate the confidential supervisory information.
4    The disclosure of confidential supervisory information by
5a savings bank pursuant to this subsection (b) and the
6disclosure of information to the Secretary Commissioner or
7other regulatory agency in connection with any examination,
8visitation, or investigation shall not constitute a waiver of
9any legal privilege otherwise available to the savings bank
10with respect to the information.
11    (c) (1) Notwithstanding any other provision of this Act or
12any other law, confidential supervisory information shall be
13the property of the Secretary Commissioner and shall be
14privileged from disclosure to any person except as provided in
15this Section. No person in possession of confidential
16supervisory information may disclose that information for any
17reason or under any circumstances not specified in this Section
18without the prior authorization of the Secretary Commissioner.
19Any person upon whom a demand for production of confidential
20supervisory information is made, whether by subpoena, order, or
21other judicial or administrative process, must withhold
22production of the confidential supervisory information and
23must notify the Secretary Commissioner of the demand, at which
24time the Secretary Commissioner is authorized to intervene for
25the purpose of enforcing the limitations of this Section or
26seeking the withdrawal or termination of the attempt to compel

 

 

HB5260- 88 -LRB097 17482 PJG 62685 b

1production of the confidential supervisory information.
2    (2) Any request for discovery or disclosure of confidential
3supervisory information, whether by subpoena, order, or other
4judicial or administrative process, shall be made to the
5Secretary Commissioner, and the Secretary Commissioner shall
6determine within 15 days whether to disclose the information
7pursuant to procedures and standards that the Secretary
8Commissioner shall establish by rule. If the Secretary
9Commissioner determines that such information will not be
10disclosed, the Secretary's Commissioner's decision shall be
11subject to judicial review under the provisions of the
12Administrative Review Law, and venue shall be in either
13Sangamon County or Cook County.
14    (3) Any court order that compels disclosure of confidential
15supervisory information may be immediately appealed by the
16Secretary Commissioner, and the order shall be automatically
17stayed pending the outcome of the appeal.
18    (d) If any officer, agent, attorney, or employee of a
19savings bank knowingly and willfully furnishes confidential
20supervisory information in violation of this Section, the
21Secretary Commissioner may impose a civil monetary penalty up
22to $1,000 for the violation against the officer, agent,
23attorney, or employee.
24    (e)   Subject to the limits of this Section, the Secretary
25Commissioner also may promulgate regulations to set procedures
26and standards for disclosure of the following items:

 

 

HB5260- 89 -LRB097 17482 PJG 62685 b

1        (1) All fixed orders and opinions made in cases of
2    appeals of the Secretary's Commissioner's actions.
3        (2) Statements of policy and interpretations adopted
4    by the Secretary's Commissioner's office, but not
5    otherwise made public.
6        (3) Nonconfidential portions of application files,
7    including applications for new charters. The Secretary
8    Commissioner shall specify by rule as to what part of the
9    files are confidential.
10        (4) Quarterly reports of income, deposits, and
11    financial condition.
12(Source: P.A. 93-271, eff. 7-22-03.)
 
13    (205 ILCS 205/Art. 12.1 heading new)
14
ARTICLE 12.1. EFFECT OF REPEAL OF
15
ILLINOIS SAVINGS AND LOAN ACT OF 1985

 
16    (205 ILCS 205/12101 new)
17    Sec. 12101. Effect of repeal. This Article sets forth the
18effect of and means of transition necessitated by the repeal of
19the Illinois Savings and Loan Act of 1985.
 
20    (205 ILCS 205/12102 new)
21    Sec. 12102. Effect on existing associations. Any existing
22association organized under the Illinois Savings and Loan Act
23of 1985 shall be deemed, without approval of the association,

 

 

HB5260- 90 -LRB097 17482 PJG 62685 b

1its members, or the Secretary, to be a savings bank as if the
2association had been organized under this Act. The resulting
3savings bank, from the date of the repeal of the Illinois
4Savings and Loan Act of 1985, shall be operated in accordance
5with this Act and the rules established pursuant to this Act.
 
6    (205 ILCS 205/12103 new)
7    Sec. 12103. Definitions. For purposes of this Article,
8terms are defined as follows:
9    "Existing association" means an association organized or,
10except for existing foreign associations, otherwise operating
11under the Illinois Savings and Loan Act of 1985 at the time
12that Act was repealed pursuant to Section 12101 of this Act.
13    "Existing foreign association" means an association or
14savings bank organized under the laws of any other state,
15territory, or country, but not including an association or
16savings bank chartered under the laws of the United States,
17that, at the time of the repeal of the Illinois Savings and
18Loan Act of 1985, operated in this State under Article 2B of
19the Illinois Savings and Loan Act of 1985.
20    "Representative office" shall have the meaning ascribed to
21it in Section 2 of the Foreign Bank Representative Office Act.
22    "Resulting savings bank" means a savings bank under this
23Act that was an existing association that is deemed to be a
24savings bank pursuant to Section 12102 of this Act.
 

 

 

HB5260- 91 -LRB097 17482 PJG 62685 b

1    (205 ILCS 205/12104 new)
2    Sec. 12104. Charter, bylaws, and directors of resulting
3savings bank.
4    (a) The statement of incorporation, charter, or
5certificate of complete organization of any existing
6association shall be deemed to be the charter of the resulting
7savings bank until such time, which shall be no more than one
8year after the date of the repeal of the Illinois Savings and
9Loan Act of 1985, articles of incorporation in compliance with
10this Act and the rules established pursuant to this Act are
11proposed by the resulting savings bank and are approved by and
12a charter issued accordingly by the Secretary.
13    (b) The bylaws of any existing association shall be deemed
14to be the bylaws of the resulting savings bank until such time,
15which shall be no more than one year after the date of the
16repeal of the Illinois Savings and Loan Act of 1985, bylaws in
17compliance with this Act and the rules established pursuant to
18this Act are adopted by the resulting savings bank. The
19resulting savings bank shall promptly notify the Secretary of
20the adoption of these bylaws.
21    (c) The directors of any existing association shall be
22deemed to be the directors of the resulting savings bank until
23the first election of directors after the existing association
24is deemed a savings bank under Section 12102 of this Act, or
25until expiration of their terms as directors, and shall have
26the power to manage the resulting savings bank pursuant to this

 

 

HB5260- 92 -LRB097 17482 PJG 62685 b

1Act.
2    (d) Except as it relates to the terms of directors, the
3Secretary for good cause may extend up to one year the time
4limits imposed by this Section.
5    (e) The Secretary shall charge no fee for actions
6undertaken by a resulting savings bank to comply with this
7Section.
 
8    (205 ILCS 205/12105 new)
9    Sec. 12105. Powers of resulting savings bank. A resulting
10savings bank shall have all the rights, privileges, and powers
11granted by this Act and other laws applicable to savings banks,
12and the entire assets, business, and goodwill of the existing
13association shall be vested in the resulting savings bank
14without deed or transfer, provided the resulting savings bank
15may execute deeds or instruments of conveyance as may be
16convenient to confirm such transfer, and such resulting savings
17bank shall assume and be liable for all debts, accounts,
18undertaking, contractual obligations, and liabilities of the
19existing association.
 
20    (205 ILCS 205/12106 new)
21    Sec. 12106. Obligations of resulting savings bank. The
22resulting savings bank shall be subject to the duties,
23relations, obligations, trusts, and liabilities of the
24existing association, whether as debtor, depository,

 

 

HB5260- 93 -LRB097 17482 PJG 62685 b

1registrar, transfer agent, executor, administrator, trustee,
2or otherwise and shall be liable to pay and discharge all such
3debts and liabilities, to perform all such duties, and to
4administer all such trusts in the same manner and to the same
5extent as if the resulting savings bank had itself incurred the
6obligation or liability or assumed the duty, relation, or
7trust; and all rights of creditors and all liens upon property
8of the resulting savings bank shall be entitled to receive,
9accept, collect, hold, and enjoy any and all gifts, bequests,
10devises, conveyances, trusts, and appointments in favor of or
11in the name of the existing association, whether made or
12created to take effect before or after the establishment of the
13resulting savings bank.
 
14    (205 ILCS 205/12107 new)
15    Sec. 12107. Effect on special funds.
16    (a) The Savings and Residential Finance Regulatory Fund
17established under Section 7-19.1 of the Illinois Savings and
18Loan Act of 1985 is hereby re-designated the Residential
19Finance Regulatory Fund. The fund shall continue in existence
20under the Illinois Residential Mortgage License Act of 1987, as
21amended, without interruption and shall retain all moneys
22therein, except moneys required to be transferred or returned
23from the Savings and Residential Finance Regulatory Fund, now
24designated the Residential Finance Regulatory Fund, to the
25Savings Institutions Regulatory Fund pursuant to subsection

 

 

HB5260- 94 -LRB097 17482 PJG 62685 b

1(e) of Section 7-19.2 of the Illinois Savings and Loan Act of
21985, shall continue to be required to be transferred or
3returned to the Savings Institutions Regulatory Fund, as if
4subsection (e) of Section 7-19.2 of the Illinois Savings and
5Loan Act of 1985 had not been repealed.
6    (b) The Savings Institutions Regulatory Fund established
7under Section 7-19.2 of the Illinois Savings and Loan Act of
81985 shall continue in existence under Section 9002.1 of this
9Act without interruption and shall retain all moneys therein.
 
10    (205 ILCS 205/12108 new)
11    Sec. 12108. Effect on foreign associations. Any existing
12foreign association shall be deemed to be an out-of-state
13savings bank under this Act. Notwithstanding any other
14provision of this Act or the Foreign Bank Representative Office
15Act, an existing foreign association may retain any branch or
16office in the State that properly existed in the State at the
17time of the repeal of the Illinois Savings and Loan Act of 1985
18and continue to engage in the same activities in the State
19therefrom as were engaged in at the time of the repeal of the
20Illinois Savings and Loan Act without further application or
21notice to or approval of the Secretary. An existing foreign
22association that maintains a representative office in Illinois
23at the time of the repeal of the Illinois Savings and Loan Act
24of 1985 shall be issued a license and shall be subject to the
25Foreign Bank Representative Office Act in accordance with

 

 

HB5260- 95 -LRB097 17482 PJG 62685 b

1Section 9 of that Act.
 
2    (205 ILCS 205/12109 new)
3    Sec. 12109. Effect on the Board of Savings Institutions.
4The Board shall continue to operate without interruption and as
5if it had been originally established under Article 12.2 of
6this Act. The current members of the Board of Savings
7Institutions shall continue to serve the balance of their
8terms.
 
9    (205 ILCS 205/Art. 12.2 heading new)
10
ARTICLE 12.2. Board of Savings Institutions

 
11    (205 ILCS 205/12201 new)
12    Sec. 12201. Board of Savings Institutions; appointment.
13The Board of Savings Institutions shall be composed of the
14Director of Banking, who shall be its chairman and have power
15to vote, and 7 additional persons appointed by the Governor.
16Four of the 7 persons appointed by the Governor shall represent
17the public interest. Three of the 7 additional persons
18appointed by the Governor shall have been engaged actively in
19savings and loan or savings bank management in this State for
20at least 5 years immediately prior to appointment. Each member
21of the Board appointed by the Governor shall be reimbursed for
22ordinary and necessary expenses incurred in attending the
23meetings of the Board. Members, excluding the chairman, shall

 

 

HB5260- 96 -LRB097 17482 PJG 62685 b

1be appointed for 4-year terms to expire on the third Monday in
2January. Except as otherwise provided in this Section, members
3of the Board shall serve until their respective successors are
4appointed and qualified. A member who tenders a written
5resignation shall serve only until the resignation is accepted
6by the chairman. The chairman may remove a member who fails to
7attend 3 consecutive Board meetings without an excused absence.
8The Governor shall fill any vacancy by the appointment of a
9member for the unexpired term in the same manner as in the
10making of original appointments.
 
11    (205 ILCS 205/12202 new)
12    Sec. 12202. Board of Savings Institutions; organization
13and meetings. The Board of Savings Institutions shall adopt
14bylaws for the holding and conducting of meetings and shall
15keep a record of all meetings and transactions and make such
16other provisions for the daily conduct of its business as it
17deems necessary. A majority of the members of the Board,
18excluding those members who are no longer serving as members as
19provided in Section 12201 of this Act, shall constitute a
20quorum. The act of the majority of the members of the Board
21present at a meeting at which a quorum is present shall be the
22act of the Board. Regular meetings shall be held as provided in
23the bylaws and special meetings may be called by the chairman
24or upon the request of any 3 members of the Board. The Board
25shall maintain permanent records of its meetings, hearings, and

 

 

HB5260- 97 -LRB097 17482 PJG 62685 b

1decisions at the office of the chairman. The chairman shall
2provide adequate quarters and personnel for use by the Board.
 
3    (205 ILCS 205/12203 new)
4    Sec. 12203. Board of Savings Institutions; powers. The
5Board of Savings Institutions shall have the following powers:
6    (1) to advise the Governor and Secretary on all matters
7relating to the regulation of savings banks; and
8    (2) to advise the Governor on legislation proposed to amend
9this Act or any related Act.
 
10    (205 ILCS 205/1007.70 rep.)
11    (205 ILCS 205/9017 rep.)
12    Section 30. The Savings Bank Act is amended by repealing
13Sections 1007.70 and 9017.
 
14    Section 35. The Pawnbroker Regulation Act is amended by
15changing Sections 0.05 and 7 as follows:
 
16    (205 ILCS 510/0.05)
17    Sec. 0.05. Administration of Act.
18    (a) This Act shall be administered by the Secretary of
19Financial and Professional Regulation, and, beginning on July
2028, 2010 (the effective date of Public Act 96-1365), all
21references in this Act to the Commissioner of Banks and Real
22Estate are deemed, in appropriate contexts, to be references to

 

 

HB5260- 98 -LRB097 17482 PJG 62685 b

1the Secretary of Financial and Professional Regulation, who
2shall have all of the following powers and duties in
3administering this Act:
4        (1) To promulgate reasonable rules for the purpose of
5    administering the provisions of this Act.
6        (2) To issue orders for the purpose of administering
7    the provisions of this Act and any rule promulgated in
8    accordance with this Act.
9        (2.5) To order restitution to consumers suffering
10    damages resulting from violations of this Act, rules
11    promulgated in accordance with this Act, or other laws or
12    regulations related to the operation of a pawnshop.
13        (3) To appoint hearing officers and to hire employees
14    or to contract with appropriate persons to execute any of
15    the powers granted to the Secretary under this Section for
16    the purpose of administering this Act and any rule
17    promulgated in accordance with this Act.
18        (4) To subpoena witnesses, to compel their attendance,
19    to administer an oath, to examine any person under oath,
20    and to require the production of any relevant books,
21    papers, accounts, and documents in the course of and
22    pursuant to any investigation being conducted, or any
23    action being taken, by the Secretary in respect of any
24    matter relating to the duties imposed upon, or the powers
25    vested in, the Secretary under the provisions of this Act
26    or any rule promulgated in accordance with this Act.

 

 

HB5260- 99 -LRB097 17482 PJG 62685 b

1        (5) To conduct hearings.
2        (6) To impose civil penalties graduated up to $10,000
3    $1,000 against any person for each day that person violates
4    violation of any provision of this Act, any rule
5    promulgated in accordance with this Act, any State or
6    federal law affecting pawnbrokers, or any order of the
7    Secretary based upon the seriousness of the violation.
8        (6.5) To initiate, through the Attorney General,
9    injunction proceedings whenever it appears to the
10    Secretary that any person, whether licensed under this Act
11    or not, is engaged or about to engage in an act or practice
12    that constitutes or will constitute a violation of this Act
13    or any rule prescribed under the authority of this Act. The
14    Secretary may, in his or her discretion, through the
15    Attorney General, apply for an injunction, and upon a
16    proper showing, any circuit court may enter a permanent or
17    preliminary injunction or a temporary restraining order
18    without bond to enforce this Act in addition to the
19    penalties and other remedies provided for in this Act.
20        (7) To issue a cease and desist order and, for
21    violations of this Act, any order issued by the Secretary
22    pursuant to this Act, any rule promulgated in accordance
23    with this Act, or any other applicable law in connection
24    with the operation of a pawnshop, to suspend a license
25    issued under this Act for up to 30 days.
26        (8) To determine compliance with applicable law and

 

 

HB5260- 100 -LRB097 17482 PJG 62685 b

1    rules related to the operation of pawnshops and to verify
2    the accuracy of reports filed with the Secretary, the
3    Secretary, not more than one time every 2 years, may, but
4    is not required to, conduct a routine examination of a
5    pawnshop, and in addition, the Secretary may examine the
6    affairs of any pawnshop at any time if the Secretary has
7    reasonable cause to believe that unlawful or fraudulent
8    activity is occurring, or has occurred, therein.
9        (9) In response to a complaint, to address any
10    inquiries to any pawnshop in relation to its affairs, and
11    it shall be the duty of the pawnshop to promptly reply in
12    writing to such inquiries. The Secretary may also require
13    reports or information from any pawnshop at any time the
14    Secretary may deem desirable.
15        (10) To revoke a license issued under this Act if the
16    Secretary determines that (a) a licensee has been convicted
17    of a felony in connection with the operations of a
18    pawnshop; (b) a licensee knowingly, recklessly, or
19    continuously violated this Act or State or federal law or
20    regulation, a rule promulgated in accordance with this Act,
21    or any order of the Secretary; (c) a fact or condition
22    exists that, if it had existed or had been known at the
23    time of the original application, would have justified
24    license refusal; (d) the licensee knowingly submits
25    materially false or misleading documents with the intent to
26    deceive the Secretary or any other party; or (e) the

 

 

HB5260- 101 -LRB097 17482 PJG 62685 b

1    licensee is unable or ceases to continue to operate the
2    pawnshop.
3        (10.2) To remove or prohibit the employment of any
4    officer, director, employee, or agent of the pawnshop who
5    engages in or has engaged in unlawful activities that
6    relate to the operation of a pawnshop.
7        (10.7) To prohibit the hiring of employees who have
8    been convicted of a financial crime or any crime involving
9    breach of trust who do not meet exceptions as established
10    by rule of the Secretary.
11        (11) Following license revocation, to take possession
12    and control of a pawnshop for the purpose of examination,
13    reorganization, or liquidation through receivership and to
14    appoint a receiver, which may be the Secretary, a pawnshop,
15    or another suitable person.
16    (b) After consultation with local law enforcement
17officers, the Attorney General, and the industry, the Secretary
18may by rule require that pawnbrokers operate video camera
19surveillance systems to record photographic representations of
20customers and retain the tapes produced for up to 30 days.
21    (c) Pursuant to rule, the Secretary shall issue licenses on
22an annual or multi-year basis for operating a pawnshop. Any
23person currently operating or who has operated a pawnshop in
24this State during the 2 years preceding the effective date of
25this amendatory Act of 1997 shall be issued a license upon
26payment of the fee required under this Act. New applicants

 

 

HB5260- 102 -LRB097 17482 PJG 62685 b

1shall meet standards for a license as established by the
2Secretary. Except with the prior written consent of the
3Secretary, no individual, either a new applicant or a person
4currently operating a pawnshop, may be issued a license to
5operate a pawnshop if the individual has been convicted of a
6felony or of any criminal offense relating to dishonesty or
7breach of trust in connection with the operations of a
8pawnshop. The Secretary shall establish license fees. The fees
9shall not exceed the amount reasonably required for
10administration of this Act. It shall be unlawful to operate a
11pawnshop without a license issued by the Secretary.
12    (d) In addition to license fees, the Secretary may, by
13rule, establish fees in connection with a review, approval, or
14provision of a service, and levy a reasonable charge to recover
15the cost of the review, approval, or service (such as a change
16in control, change in location, or renewal of a license). The
17Secretary may also levy a reasonable charge to recover the cost
18of an examination if the Secretary determines that unlawful or
19fraudulent activity has occurred. The Secretary may require
20payment of the fees and charges provided in this Act by
21certified check, money order, an electronic transfer of funds,
22or an automatic debit of an account.
23    (e) The Pawnbroker Regulation Fund is established as a
24special fund in the State treasury. Moneys collected under this
25Act shall be deposited into the Fund and used for the
26administration of this Act. In the event that General Revenue

 

 

HB5260- 103 -LRB097 17482 PJG 62685 b

1Funds are appropriated to the Department of Financial and
2Professional Regulation for the initial implementation of this
3Act, the Governor may direct the repayment from the Pawnbroker
4Regulation Fund to the General Revenue Fund of such advance in
5an amount not to exceed $30,000. The Governor may direct this
6interfund transfer at such time as he deems appropriate by
7giving appropriate written notice. Moneys in the Pawnbroker
8Regulation Fund may be transferred to the Professions Indirect
9Cost Fund, as authorized under Section 2105-300 of the
10Department of Professional Regulation Law of the Civil
11Administrative Code of Illinois.
12    (f) The Secretary may, by rule, require all pawnshops to
13provide for the expenses that would arise from the
14administration of the receivership of a pawnshop under this Act
15through the assessment of fees, the requirement to pledge
16surety bonds, or such other methods as determined by the
17Secretary.
18    (g) All final administrative decisions of the Secretary
19under this Act shall be subject to judicial review pursuant to
20the provisions of the Administrative Review Law. For matters
21involving administrative review, venue shall be in either
22Sangamon County or Cook County.
23(Source: P.A. 96-1038, eff. 7-14-10; 96-1365, eff. 7-28-10;
2497-333, eff. 8-12-11.)
 
25    (205 ILCS 510/7)  (from Ch. 17, par. 4657)

 

 

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1    Sec. 7. Daily report.
2    (a) Except as provided in subsection (b), it shall be the
3duty of every pawnbroker to make out and deliver to the sheriff
4of the county in which such pawnbroker does business, on each
5day before the hours of 12 o'clock noon, a legible and exact
6copy from the standard record book, as required in Section 5 of
7this Act, that lists all personal property and any other
8valuable thing received on deposit or purchased during the
9preceding day, including the exact time when received or
10purchased, and a description of the person or person by whom
11left in pledge, or from whom the same were purchased; provided,
12that in cities or towns having 25,000 or more inhabitants, a
13copy of the such report shall at the same time also be
14delivered to the superintendent of police or the chief police
15officer of such city or town. Such report may be made by
16computer printout or input memory device if the format has been
17approved by the local law enforcement agency.
18    (b) In counties with more than 3,000,000 inhabitants, a
19pawnbroker must provide the daily report to the sheriff only if
20the pawnshop is located in an unincorporated area of the
21county. Pawnbrokers located in cities or towns in such counties
22must deliver such reports to the superintendent of police or
23the chief police officer of such city or town.
24    (c) All information provided to law enforcement according
25to the reporting requirements of this Section is confidential
26and is not subject to disclosure under the Freedom of

 

 

HB5260- 105 -LRB097 17482 PJG 62685 b

1Information Act.
2(Source: P.A. 90-477, eff. 7-1-98; 90-602, eff. 7-1-98.)
 
3    Section 40. The Corporate Fiduciary Act is amended by
4changing Sections 5-10.5 and 6-5 as follows:
 
5    (205 ILCS 620/5-10.5)
6    Sec. 5-10.5. Disclosure of records. A corporate fiduciary
7may not disclose to any person, except to the customer or the
8customer's duly authorized agent, any records pertaining to the
9fiduciary relationship between the corporate fiduciary and the
10customer unless:
11    (1) the instrument or court order establishing the
12fiduciary relationship permits the record to be disclosed under
13the circumstances;
14    (2) applicable law authorizes the disclosure;
15    (3) disclosure by the corporate fiduciary is necessary to
16perform a transaction or act that is authorized by the
17instrument or court order establishing the fiduciary relation
18ship; or
19    (4) Section 48.1 of the Illinois Banking Act would permit a
20bank to disclose the record to the same extent under the
21circumstances; or .
22    (5) disclosure by the corporate fiduciary is necessary for
23any person conducting a review on behalf of the corporate
24fiduciary for purposes of complying with any enforcement action

 

 

HB5260- 106 -LRB097 17482 PJG 62685 b

1taken by a bank regulatory agency, so long as the corporate
2fiduciary obtains pre-approval for release of said
3confidential supervisory information by the Secretary and said
4person agrees to maintain the confidentiality of the
5confidential supervisory information and to not further
6disseminate the confidential supervisory information.
7    For purposes of this Section, "customer" means the person
8or individual who contracted to establish the fiduciary
9relationship or who executed any instrument or document from
10which the fiduciary relationship was established, a person
11authorized by the customer to provide such direction or, if the
12instrument, law, or court order so permits, the beneficiaries
13of the fiduciary relationship.
14(Source: P.A. 89-364, eff. 8-18-95.)
 
15    (205 ILCS 620/6-5)  (from Ch. 17, par. 1556-5)
16    Sec. 6-5. When the Secretary Commissioner has taken
17possession and control of a corporate fiduciary and its assets,
18he shall be vested with the full powers of management and
19control, including but not limited to, the following:
20        (1) The power to continue or to discontinue the
21    business;
22        (2) The power to stop or to limit the payment of its
23    obligations;
24        (3) The power to collect and to use its assets and to
25    give valid receipts and acquittances therefor;

 

 

HB5260- 107 -LRB097 17482 PJG 62685 b

1        (4) The power to employ and to pay any necessary
2    assistants;
3        (5) The power to execute any instrument in the name of
4    the corporate fiduciary;
5        (6) The power to commence, defend and conduct in its
6    name any action or proceeding in which it may be a party;
7        (7) The power, upon the order of the court, to sell and
8    convey its assets in whole or in part, and to sell or
9    compound bad or doubtful debts upon such terms and
10    conditions as may be fixed in such order;
11        (8) The power, upon the order of the court, to make and
12    to carry out agreements with other corporate fiduciaries,
13    financial institutions or with the United States or any
14    agency thereof, for the payment or assumption of the
15    corporate fiduciaries liabilities, in whole or in part, and
16    to transfer assets and to make guaranties, in whole or in
17    part, and to transfer assets and to make guaranties in
18    connection therewith;
19        (9) The power, upon the order of the court, to borrow
20    money in the name of the corporate fiduciary and to pledge
21    its assets as security for the loan;
22        (10) The power to terminate his possession and control
23    by restoring the corporate fiduciary to its board of
24    directors;
25        (11) The power to reorganize the corporate fiduciary as
26    provided in this Act;

 

 

HB5260- 108 -LRB097 17482 PJG 62685 b

1        (12) The power to appoint a receiver which may be the
2    Office of the Secretary Commissioner, a corporate
3    fiduciary or another suitable person and to order
4    liquidation of the corporate fiduciary as provided in this
5    Act; and
6        (13) The power, upon the order of the court and without
7    the appointment of a receiver, to determine that the
8    corporate fiduciary has been closed for the purpose of
9    liquidation without adequate provision being made for
10    payment of its fiduciary obligations, and thereupon the
11    corporate fiduciary shall be deemed to have been closed on
12    account of inability to meet its obligations to its
13    beneficiaries.
14    The Secretary or any person appointed as receiver shall
15have all of the powers, rights, and privileges as the Federal
16Deposit Insurance Corporation when appointed as receiver,
17which shall originate at the time of the appointment and
18continue through the term of the receivership.
19(Source: P.A. 86-754.)
 
20    Section 45. The Residential Mortgage License Act of 1987 is
21amended by changing Section 4-1 and by adding Section 4-1.5 as
22follows:
 
23    (205 ILCS 635/4-1)  (from Ch. 17, par. 2324-1)
24    Sec. 4-1. Secretary of Financial and Professional

 

 

HB5260- 109 -LRB097 17482 PJG 62685 b

1Regulation Commissioner of Banks and Real Estate; functions,
2powers, and duties. The functions, powers, and duties of the
3Secretary of Financial and Professional Regulation
4Commissioner of Banks and Real Estate shall include the
5following:
6        (a) to issue or refuse to issue any license as provided
7    by this Act;
8        (b) to revoke or suspend for cause any license issued
9    under this Act;
10        (c) to keep records of all licenses issued under this
11    Act;
12        (d) to receive, consider, investigate, and act upon
13    complaints made by any person in connection with any
14    residential mortgage licensee in this State;
15        (e) to consider and act upon any recommendations from
16    the Residential Mortgage Board;
17        (f) to prescribe the forms of and receive:
18            (1) applications for licenses; and
19            (2) all reports and all books and records required
20        to be made by any licensee under this Act, including
21        annual audited financial statements and annual reports
22        of mortgage activity;
23        (g) to adopt rules and regulations necessary and proper
24    for the administration of this Act;
25        (h) to subpoena documents and witnesses and compel
26    their attendance and production, to administer oaths, and

 

 

HB5260- 110 -LRB097 17482 PJG 62685 b

1    to require the production of any books, papers, or other
2    materials relevant to any inquiry authorized by this Act;
3        (h-1) to issue orders against any person, if the
4    Secretary Commissioner has reasonable cause to believe
5    that an unsafe, unsound, or unlawful practice has occurred,
6    is occurring, or is about to occur, if any person has
7    violated, is violating, or is about to violate any law,
8    rule, or written agreement with the Secretary
9    Commissioner, or for the purpose of administering the
10    provisions of this Act and any rule adopted in accordance
11    with the Act;
12        (h-2) to address any inquiries to any licensee, or the
13    officers thereof, in relation to its activities and
14    conditions, or any other matter connected with its affairs,
15    and it shall be the duty of any licensee or person so
16    addressed, to promptly reply in writing to such inquiries.
17    The Secretary Commissioner may also require reports from
18    any licensee at any time the Secretary Commissioner may
19    deem desirable;
20        (i) to require information with regard to any license
21    applicant as he or she may deem desirable, with due regard
22    to the paramount interests of the public as to the
23    experience, background, honesty, truthfulness, integrity,
24    and competency of the license applicant as to financial
25    transactions involving primary or subordinate mortgage
26    financing, and where the license applicant is an entity

 

 

HB5260- 111 -LRB097 17482 PJG 62685 b

1    other than an individual, as to the honesty, truthfulness,
2    integrity, and competency of any officer or director of the
3    corporation, association, or other entity, or the members
4    of a partnership;
5        (j) to examine the books and records of every licensee
6    under this Act at intervals as specified in Section 4-2;
7        (k) to enforce provisions of this Act;
8        (l) to levy fees, fines, and charges for services
9    performed in administering this Act; the aggregate of all
10    fees collected by the Secretary Commissioner on and after
11    the effective date of this Act shall be paid promptly after
12    receipt of the same, accompanied by a detailed statement
13    thereof, into the Savings and Residential Finance
14    Regulatory Fund; the amounts deposited into that Fund shall
15    be used for the ordinary and contingent expenses of the
16    Department of Financial and Professional Regulation in
17    accordance with Section 4-1.5 of this Act Office of Banks
18    and Real Estate. Nothing in this Act shall prevent
19    continuing the practice of paying expenses involving
20    salaries, retirement, social security, and State-paid
21    insurance of State officers by appropriation from the
22    General Revenue Fund.
23        (m) to appoint examiners, supervisors, experts, and
24    special assistants as needed to effectively and
25    efficiently administer this Act;
26        (n) to conduct hearings for the purpose of:

 

 

HB5260- 112 -LRB097 17482 PJG 62685 b

1            (1) appeals of orders of the Secretary
2        Commissioner;
3            (2) suspensions or revocations of licenses, or
4        fining of licensees;
5            (3) investigating:
6                (i) complaints against licensees; or
7                (ii) annual gross delinquency rates; and
8            (4) carrying out the purposes of this Act;
9        (o) to exercise exclusive visitorial power over a
10    licensee unless otherwise authorized by this Act or as
11    vested in the courts, or upon prior consultation with the
12    Secretary Commissioner, a foreign residential mortgage
13    regulator with an appropriate supervisory interest in the
14    parent or affiliate of a licensee;
15        (p) to enter into cooperative agreements with state
16    regulatory authorities of other states to provide for
17    examination of corporate offices or branches of those
18    states and to accept reports of such examinations;
19        (q) to assign an examiner or examiners to monitor the
20    affairs of a licensee with whatever frequency the Secretary
21    Commissioner determines appropriate and to charge the
22    licensee for reasonable and necessary expenses of the
23    Secretary Commissioner, if in the opinion of the Secretary
24    Commissioner an emergency exists or appears likely to
25    occur;
26        (r) to impose civil penalties of up to $50 per day

 

 

HB5260- 113 -LRB097 17482 PJG 62685 b

1    against a licensee for failing to respond to a regulatory
2    request or reporting requirement; and
3        (s) to enter into agreements in connection with the
4    Nationwide Mortgage Licensing System and Registry.
5(Source: P.A. 96-112, eff. 7-31-09; 96-1000, eff. 7-2-10.)
 
6    (205 ILCS 635/4-1.5 new)
7    Sec. 4-1.5. Residential Finance Regulatory Fund.
8    (a) The aggregate of all moneys collected by the Secretary
9under this Act shall be paid promptly after receipt of the
10same, accompanied by a detailed statement thereof, into the
11State treasury and shall be set apart in the Residential
12Finance Regulatory Fund, formerly designated the Savings and
13Residential Finance Regulatory Fund, a special fund created in
14the State treasury. The amounts deposited into the Fund shall
15be used for the ordinary and contingent expenses of the
16Department of Financial and Professional Regulation and the
17Division of Banking, or their successors, in administering and
18enforcing the Residential Mortgage License Act of 1987 and
19other laws, rules, and regulations as may apply to the
20administration and enforcement of the foregoing laws, rules,
21and regulations, as amended from time to time. Nothing in this
22Act shall prevent continuing the practice of paying expenses
23involving salaries, retirement, Social Security, and State
24paid insurance of State officers by appropriation from the
25General Revenue Fund.

 

 

HB5260- 114 -LRB097 17482 PJG 62685 b

1    (b) Moneys in the Residential Finance Regulatory Fund may
2be transferred to the Professions Indirect Cost Fund, as
3authorized under Section 2105-300 of the Department of
4Professional Regulation Law of the Civil Administrative Code of
5Illinois.
6    (c) All earnings received from investments of funds in the
7Residential Finance Regulatory Fund shall be deposited into
8that Fund and may be used for the same purposes as fees
9deposited into that Fund.
10    (d) Moneys in the Residential Finance Regulatory Fund,
11formerly designated the Savings and Residential Finance
12Regulatory Fund, apportioned to the moneys collected under the
13Illinois Savings and Loan Act of 1985 and the Savings Bank Act
14shall be transferred to the Savings Institutions Regulatory
15Fund. Any amount used or borrowed from the moneys apportioned
16to the moneys collected under the Illinois Savings and Loan Act
17of 1985 and the Savings Bank Act that would have been required
18to be returned to that apportionment shall be instead paid into
19the Savings Institutions Regulatory Fund in the same manner.
 
20    Section 50. The Foreign Bank Representative Office Act is
21amended by changing Section 2 and adding Section 9 as follows:
 
22    (205 ILCS 650/2)  (from Ch. 17, par. 2852)
23    Sec. 2. Definitions. As used in this Act, unless the
24context requires otherwise:

 

 

HB5260- 115 -LRB097 17482 PJG 62685 b

1    (a) "Commissioner" means the Secretary of Financial and
2Professional Regulation or a person authorized by the
3Secretary, the Division of Banking Act, or this Act to act in
4the Secretary's stead.
5    (b) "Foreign bank" means (1) a bank, savings bank, savings
6and loan association, or trust company which is organized under
7the laws of any state or territory of the United States,
8including the District of Columbia, other than the State of
9Illinois; (2) a national bank, a federal savings bank, or a
10federal savings and loan association having its principal place
11of business in any state or territory of the United States,
12including the District of Columbia, other than the State of
13Illinois; or (3) a bank, savings bank, savings and loan
14association, or trust company organized and operating under the
15laws of a country other than the United States of America.
16    (c) "Representative office" means an office in the State of
17Illinois at which a foreign bank engages in representational
18functions but does not conduct a commercial banking business.
19    (d) "Division" means the Division of Banking within the
20Department of Financial and Professional Regulation.
21(Source: P.A. 96-1365, eff. 7-28-10.)
 
22    (205 ILCS 650/9 new)
23    Sec. 9. Foreign associations. Within 60 days after the
24effective date of this amendatory Act of the 97th General
25Assembly, an existing foreign association, as defined in

 

 

HB5260- 116 -LRB097 17482 PJG 62685 b

1Section 12103 of the Savings Bank Act, that maintains a
2representative office in Illinois at the time of the repeal of
3the Illinois Savings and Loan Act of 1985 shall be issued,
4after submitting the required application and fee, a license in
5accordance with Section 4 of this Act and, beginning 60 days
6after the effective date of this amendatory Act of the 97th
7General Assembly, shall be subject to the provisions of this
8Act.

 

 

HB5260- 117 -LRB097 17482 PJG 62685 b

1 INDEX
2 Statutes amended in order of appearance
3    5 ILCS 140/7.5
4    20 ILCS 3205/2.5
5    30 ILCS 105/5.214from Ch. 127, par. 141.214
6    30 ILCS 105/8.12from Ch. 127, par. 144.12
7    205 ILCS 5/32from Ch. 17, par. 339
8    205 ILCS 5/48
9    205 ILCS 5/48.05
10    205 ILCS 5/48.3from Ch. 17, par. 360.2
11    205 ILCS 105/Act rep.
12    205 ILCS 205/1007.130
13    205 ILCS 205/2007from Ch. 17, par. 7302-7
14    205 ILCS 205/3003from Ch. 17, par. 7303-3
15    205 ILCS 205/4008from Ch. 17, par. 7304-8
16    205 ILCS 205/4010from Ch. 17, par. 7304-10
17    205 ILCS 205/4013from Ch. 17, par. 7304-13
18    205 ILCS 205/6002from Ch. 17, par. 7306-2
19    205 ILCS 205/6013from Ch. 17, par. 7306-13
20    205 ILCS 205/6014from Ch. 17, par. 7306-14
21    205 ILCS 205/9002from Ch. 17, par. 7309-2
22    205 ILCS 205/9002.1 new
23    205 ILCS 205/9002.5
24    205 ILCS 205/9012from Ch. 17, par. 7309-12

 

 

HB5260- 118 -LRB097 17482 PJG 62685 b

1    205 ILCS 205/Art. 12.1
2    heading new
3    205 ILCS 205/12101 new
4    205 ILCS 205/12102 new
5    205 ILCS 205/12103 new
6    205 ILCS 205/12104 new
7    205 ILCS 205/12105 new
8    205 ILCS 205/12106 new
9    205 ILCS 205/12107 new
10    205 ILCS 205/12108 new
11    205 ILCS 205/12109 new
12    205 ILCS 205/Art. 12.2
13    heading new
14    205 ILCS 205/12201 new
15    205 ILCS 205/12202 new
16    205 ILCS 205/12203 new
17    205 ILCS 205/1007.70 rep.
18    205 ILCS 205/9017 rep.
19    205 ILCS 510/0.05
20    205 ILCS 510/7from Ch. 17, par. 4657
21    205 ILCS 620/5-10.5
22    205 ILCS 620/6-5from Ch. 17, par. 1556-5
23    205 ILCS 635/4-1from Ch. 17, par. 2324-1
24    205 ILCS 635/4-1.5 new
25    205 ILCS 650/2from Ch. 17, par. 2852
26    205 ILCS 650/9 new