BANKING-CREDIT PRODUCTS House SponsorsRep. Mike Boland-Bill Mitchell 1/9/2007HouseSession Sine Die 205 ILCS 710/5205 ILCS 710/10205 ILCS 710/20 new Amends the Banking on Illinois Act. Makes a change concerning declarations of policy to provide that by ensuring a favorable environment for banks to commence and operate their businesses from this State, more newly created community banks and merging banks will choose to maintain or retain their headquarters in or (now, and) relocate their main banking offices to Illinois. Provides that it is the purpose of the Act to encourage and provide a favorable environment in Illinois for the chartering and operating of banks that locate and maintain main banking headquarters (now, offices) in this State. Authorizes a State or federally chartered bank that maintains its main banking headquarters in this State to offer a credit product to Illinois residents under the same terms and conditions that an out-of-state bank may offer the credit product to Illinois residents. Requires any bank offering such a credit product to provide written notice to the Director of the Division of Banks and Real Estate in the Department of Financial and Professional Regulation of its intent to offer the product. Makes other changes. Effective immediately. 2/17/2005HouseFiled with the Clerk by Rep. Mike Boland 2/17/2005HouseFirst Reading 2/17/2005HouseReferred to Rules Committee 2/23/2005HouseAssigned to Executive Committee 2/24/2005HouseAdded Chief Co-Sponsor Rep. Bill Mitchell 3/10/2005HouseRule 19(a) / Re-referred to Rules Committee 1/9/2007HouseSession Sine Die