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 Bill Status of SB1297  100th General Assembly


Short Description:  INS INSOLVENCY FED HOME LOAN

Senate Sponsors
Sen. John G. Mulroe

House Sponsors
(Rep. Elaine Nekritz )

Last Action
DateChamber Action
  8/11/2017SenatePublic Act . . . . . . . . . 100-0089

Statutes Amended In Order of Appearance
215 ILCS 5/189from Ch. 73, par. 801
215 ILCS 5/204from Ch. 73, par. 816


Synopsis As Introduced
Amends the Illinois Insurance Code. Provides that during a conservation, rehabilitation, or liquidation proceeding, a Federal Home Loan Bank shall not be stayed, enjoined, or prohibited from exercising or enforcing any right or cause of action regarding collateral pledged under any security agreement or any pledge, security, collateral, or guarantee agreement or any other similar arrangement or credit enhancement relating to the Federal Home Loan Bank security agreement. Effective immediately.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the introduced bill with the following changes: Moves language providing that a Federal Home Loan Bank shall not be stayed, enjoined, or prohibited from exercising or enforcing certain rights or causes of action to provisions of the Illinois Insurance Code regarding prohibited and voidable transfers and liens. Makes technical changes. Effective immediately.

Actions 
DateChamber Action
  2/9/2017SenateFiled with Secretary by Sen. John G. Mulroe
  2/9/2017SenateFirst Reading
  2/9/2017SenateReferred to Assignments
  2/15/2017SenateAssigned to Financial Institutions
  3/7/2017SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. John G. Mulroe
  3/7/2017SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/14/2017SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  3/15/2017SenateSenate Committee Amendment No. 1 Adopted
  3/15/2017SenateDo Pass as Amended Financial Institutions; 008-000-000
  3/15/2017SenatePlaced on Calendar Order of 2nd Reading March 16, 2017
  3/30/2017SenateSecond Reading
  3/30/2017SenatePlaced on Calendar Order of 3rd Reading April 4, 2017
  4/26/2017SenateThird Reading - Passed; 057-000-000
  4/26/2017HouseArrived in House
  4/26/2017HouseChief House Sponsor Rep. Elaine Nekritz
  4/26/2017HouseFirst Reading
  4/26/2017HouseReferred to Rules Committee
  5/3/2017HouseAssigned to Financial Institutions Committee
  5/9/2017HouseDo Pass / Short Debate Financial Institutions Committee; 012-000-000
  5/10/2017HousePlaced on Calendar 2nd Reading - Short Debate
  5/11/2017HouseSecond Reading - Short Debate
  5/11/2017HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/15/2017HouseThird Reading - Short Debate - Passed 108-000-000
  5/15/2017SenatePassed Both Houses
  6/13/2017SenateSent to the Governor
  8/11/2017SenateGovernor Approved
  8/11/2017SenateEffective Date August 11, 2017
  8/11/2017SenatePublic Act . . . . . . . . . 100-0089

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