Illinois General Assembly - Bill Status for HB5194

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Bill Status of HB5194 93rd General Assembly

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Short Description: FIN REG-FEDERALLY INSURED BANK

House Sponsors
Rep. Joseph M. Lyons - Bill Mitchell

Last Action

Date	Chamber	Action
1/11/2005	House	Session Sine Die

Statutes Amended In Order of Appearance

205 ILCS 5/2

from Ch. 17, par. 302

205 ILCS 5/5

from Ch. 17, par. 311

Synopsis As Introduced
Amends the Illinois Banking Act. Defines "federally insured depository institution" to mean a bank that is insured by the Federal Deposit Insurance Corporation or other instrumentality of or corporation chartered by the United States that is supported by the full faith and credit of the United States government. Modifies the general corporate powers of banks organized under or subject to the Act. Allows banks to offer any product or service that is at the time authorized or permitted to any federally insured depository institution by applicable law subject to the same limitations and restrictions that are applicable to the federally insured depository institution for the product or service by such applicable law. Effective immediately.

Actions

Date	Chamber	Action
2/5/2004	House	Filed with the Clerk by Rep. Joseph M. Lyons
2/5/2004	House	First Reading
2/5/2004	House	Referred to Rules Committee
2/20/2004	House	Added Chief Co-Sponsor Rep. Bill Mitchell
1/11/2005	House	Session Sine Die

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