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Public Act 093-0786




Public Act 093-0786
SB2707 Enrolled LRB093 19880 BDD 45623 b

    AN ACT concerning the Office of Banks and Real Estate.
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
    Section 5. The Office of Banks and Real Estate Act is
amended by changing Section 6 as follows:
    (20 ILCS 3205/6)  (from Ch. 17, par. 456)
    Sec. 6. Duties. The Commissioner shall direct and supervise
all the administrative and technical activities of the Office
and shall:
    (a) Apply and carry out this Act and the law and all rules
adopted in pursuance thereof.
    (b) Appoint, subject to the provisions of the Personnel
Code, such employees, experts, and special assistants as may be
necessary to carry out effectively the provisions of this Act
and, if the rate of compensation is not otherwise fixed by law,
fix their compensation; but neither the Commissioner nor any
deputy commissioner shall be subject to the Personnel Code.
    (c) Serve as Chairman of the State Banking Board of
    (d) Serve as Chairman of the Board of Trustees of the
Illinois Bank Examiners' Education Foundation.
    (e) Issue guidelines in the form of rules or regulations
which will prohibit discrimination by any State chartered bank
against any individual, corporation, partnership, association
or other entity because it appears in a so-called blacklist
issued by any domestic or foreign corporate or governmental
    (f) Make an annual report to the Governor regarding the
work of the Office as the Commissioner may consider desirable
or as the Governor may request.
    (g) Perform such other acts as may be requested by the
State Banking Board of Illinois pursuant to its lawful powers
and perform any other lawful act that the Commissioner
considers to be necessary or desirable to carry out the
purposes and provisions of this Act.
    (h) Adopt, in accordance with the Illinois Administrative
Procedure Act, reasonable rules that the Commissioner deems
necessary for the proper administration and enforcement of any
Act the administration of which is vested in the Commissioner
or the Office of Banks and Real Estate.
    (i) Work in cooperation with the Director of Aging to
encourage all financial institutions regulated by the Office to
participate fully in the Department on Aging's financial
exploitation of the elderly intervention program.
(Source: P.A. 92-483, eff. 8-23-01.)
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 7/21/2004