FIN REG-FEDERALLY INSURED BANK House SponsorsRep. Joseph M. Lyons-Bill Mitchell 1/11/2005HouseSession Sine Die 205 ILCS 5/2from Ch. 17, par. 302205 ILCS 5/5from Ch. 17, par. 311 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. 2/5/2004HouseFiled with the Clerk by Rep. Joseph M. Lyons 2/5/2004HouseFirst Reading 2/5/2004HouseReferred to Rules Committee 2/20/2004HouseAdded Chief Co-Sponsor Rep. Bill Mitchell 1/11/2005HouseSession Sine Die