Sen. Terry Link
Filed: 5/1/2007
 
 

 




 

 		












09500HB0497sam001

LRB095 05354 MJR 35715 a






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AMENDMENT TO HOUSE BILL 497




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    AMENDMENT NO. ______. Amend House Bill 497 on page 2, by 
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replacing lines 2 through 9 with the following:
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    "(b) Notwithstanding any other provision of this Act, no 
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bank may establish a bank office or branch on or adjacent to 
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the premises of an affiliate of the bank if the affiliate 
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engages in any commercial activity that could not lawfully be 
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conducted by a bank holding company, a financial holding 
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company, or a subsidiary of the bank holding company or 
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financial holding company pursuant to federal law unless: (i) 
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the bank had received its charter and was accepting deposits in 
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this State prior to the effective date of this amendatory Act 
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of the 95th General Assembly; or (ii) the bank does not accept 
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or retain any deposits at the bank office or branch at any time 
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after the effective date of this amendatory Act of the 95th 
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General Assembly."; and

 
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on page 3, by replacing lines 16 through 23 with the following:
 


 






09500HB0497sam001
- 2 -
LRB095 05354 MJR 35715 a




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    "(b) Notwithstanding any other provision of this Act, no 
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savings bank may establish an office or branch on or adjacent 
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to the premises of an affiliate of the savings bank if the 
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affiliate engages in any commercial activity that could not 
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lawfully be conducted by a savings bank holding company or a 
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subsidiary of the savings bank holding company pursuant to 
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federal law unless: (i) the savings bank had received its 
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charter and was accepting deposits in this State prior to the 
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effective date of this amendatory Act of the 95th General 
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Assembly; or (ii) the savings bank does not accept or retain 
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any deposits at the office or branch at any time after the 
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effective date of this amendatory Act of the 95th General 
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Assembly.".