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91_HB3432
LRB9112241JSpc
1 AN ACT to create the Data Processing Services for
2 Financial Institutions Act.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 1. Short title. This Act may be cited as the
6 Data Processing Services for Financial Institutions Act.
7 Section 5. Definitions. As used in this Act:
8 "Financial institution" means a bank, savings and loan
9 association, savings bank, or corporate fiduciary, and shall
10 also mean any affiliate or subsidiary thereof that provides
11 financial services on behalf of those entities.
12 "Data processor" means an entity that, pursuant to a
13 contract with a financial institution, processes financial
14 data or other data generated by or used by the financial
15 institution in the course of the financial institution's
16 business.
17 Section 99. Effective date. This Act takes effect upon
18 becoming law.