SAVINGS & LOAN ACT 1985-REPEAL Senate SponsorsSen. Jacqueline Y. Collins House Sponsors(Rep. Michael J. Zalewski) 1/8/2013SenateSession Sine Die 5 ILCS 140/7.520 ILCS 3205/2.530 ILCS 105/5.214from Ch. 127, par. 141.21430 ILCS 105/8.12from Ch. 127, par. 144.12205 ILCS 5/32from Ch. 17, par. 339205 ILCS 5/48205 ILCS 5/48.05205 ILCS 5/48.3from Ch. 17, par. 360.2205 ILCS 105/Act rep.205 ILCS 205/1007.130205 ILCS 205/2007from Ch. 17, par. 7302-7205 ILCS 205/3003from Ch. 17, par. 7303-3205 ILCS 205/4008from Ch. 17, par. 7304-8205 ILCS 205/4010from Ch. 17, par. 7304-10205 ILCS 205/4013from Ch. 17, par. 7304-13205 ILCS 205/6002from Ch. 17, par. 7306-2205 ILCS 205/6013from Ch. 17, par. 7306-13205 ILCS 205/6014from Ch. 17, par. 7306-14205 ILCS 205/9002from Ch. 17, par. 7309-2205 ILCS 205/9002.1 new205 ILCS 205/9002.5205 ILCS 205/9012from Ch. 17, par. 7309-12205 ILCS 205/Art. 12.1 heading new205 ILCS 205/12101 new205 ILCS 205/12102 new205 ILCS 205/12103 new205 ILCS 205/12104 new205 ILCS 205/12105 new205 ILCS 205/12106 new205 ILCS 205/12107 new205 ILCS 205/12108 new205 ILCS 205/12109 new205 ILCS 205/Art. 12.2 heading new205 ILCS 205/12201 new205 ILCS 205/12202 new205 ILCS 205/12203 new205 ILCS 205/1007.70 rep.205 ILCS 205/9017 rep.205 ILCS 510/0.05205 ILCS 510/7from Ch. 17, par. 4657205 ILCS 620/5-10.5205 ILCS 620/6-5from Ch. 17, par. 1556-5205 ILCS 635/4-1from Ch. 17, par. 2324-1205 ILCS 635/4-1.5 new205 ILCS 650/2from Ch. 17, par. 2852205 ILCS 650/9 newRepeals the Illinois Savings and Loan Act of 1985. Amends the Savings Bank Act. Provides that any institution organized under the Illinois Savings and Loan Act of 1985 shall be deemed a savings bank under the Illinois Savings Bank Act. Creates a new Article concerning the effect of the repeal of the Illinois Savings and Loan Act of 1985. Makes changes in provisions concerning out-of-state savings banks; reorganization to become a holding company; contents of articles of incorporation; directors; conduct of directors and officers; access to books and records; communication with members and shareholders; investment in loans; loans to one borrower; Secretary's regulations; powers of the Secretary; regulatory fees; and disclosure of reports of examinations and confidential supervisory information. Repeals provisions concerning the impairment of capital. Amends the Illinois Banking Act. Provides a definition for "money borrowed" in a provision concerning basic loaning limits. Provides that the Secretary when appointed as a receiver or any person appointed as a receiver shall have all the powers, rights, and privileges as the Federal Deposit Insurance Corporation. Also makes changes in the Freedom of Information Act, the Division of Banking Act, the State Finance Act, the Pawnbroker Regulation Act, the Corporate Fiduciary Act, the Residential Mortgage License Act of 1987, and the Foreign Bank Representative Office Act.Senate Floor Amendment No. 1 Deletes reference to:20 ILCS 3205/2.5Adds reference to:205 ILCS 510/4from Ch. 17, par. 4654Removes a provision that amends the Division of Banking Act to change the definition of "regulated entity" to include any person or other entity who the Secretary of Financial and Professional Regulation determines may have an adverse impact on the activities of any regulated entity examined by the Secretary. Further amends the Pawnbroker Regulation Act to delete language requiring every pawnbroker to include an accurate account of the value of the things loaned in the memorandum, contract, or note that the pawnbroker must deliver to a person pawning or pledging any property.Senate Floor Amendment No. 2 Further amends the Illinois Banking Act. Provides that, within a Section concerning loaning limits, any credit exposure to a person arising from a derivative transaction (rather than from a derivative transaction, repurchase agreement, reverse repurchase agreement, securities lending transaction, or securities borrowing transaction) between a state bank and the person shall be considered as money borrowed. Provides that, whenever any State bank, subsidiary or affiliate of a State bank, or branch of an out-of-state bank causes to be performed any loan syndication or loan securitization, whether on or off its premises, (i) that performance shall be subject to examination by the Secretary of Financial and Professional Regulation to the same extent as if loan syndication or loan securitization were being performed by the bank itself on its own premises, and (ii) the bank shall notify the Secretary of the existence of a loan syndication or loan securitization relationship. Provides that "loan syndication" and "loan securitization" shall be defined by rule, as promulgated by the Department of Financial and Professional Regulation. Further amends the Savings Bank Act. Provides that, within a Section concerning loans to one borrower, any credit exposure to a person arising from a derivative transaction (rather than from a derivative transaction, repurchase agreement, reverse repurchase agreement, securities lending transaction, or securities borrowing transaction) between a savings bank and the person shall be considered a loan or extension of credit.House Committee Amendment No. 1 Deletes reference to:5 ILCS 140/7.530 ILCS 105/5.214from Ch. 127, par. 141.21430 ILCS 105/8.12from Ch. 127, par. 144.12205 ILCS 5/32from Ch. 17, par. 339205 ILCS 5/48205 ILCS 5/48.05205 ILCS 5/48.3from Ch. 17, par. 360.2205 ILCS 105/Act rep.205 ILCS 205/1007.130205 ILCS 205/2007from Ch. 17, par. 7302-7205 ILCS 205/3003from Ch. 17, par. 7303-3205 ILCS 205/4008from Ch. 17, par. 7304-8205 ILCS 205/4010from Ch. 17, par. 7304-10205 ILCS 205/4013from Ch. 17, par. 7304-13205 ILCS 205/6002from Ch. 17, par. 7306-2205 ILCS 205/6013from Ch. 17, par. 7306-13205 ILCS 205/6014from Ch. 17, par. 7306-14205 ILCS 205/9002from Ch. 17, par. 7309-2205 ILCS 205/9002.1 new205 ILCS 205/9002.5205 ILCS 205/9012from Ch. 17, par. 7309-12205 ILCS 205/Art. 12.1 heading new205 ILCS 205/12101 new205 ILCS 205/12102 new205 ILCS 205/12103 new205 ILCS 205/12104 new205 ILCS 205/12105 new205 ILCS 205/12106 new205 ILCS 205/12107 new205 ILCS 205/12108 new205 ILCS 205/12109 new205 ILCS 205/Art. 12.2 heading new205 ILCS 205/12201 new205 ILCS 205/12202 new205 ILCS 205/12203 new205 ILCS 205/1007.70 rep.205 ILCS 205/9017 rep.205 ILCS 510/0.05205 ILCS 510/4from Ch. 17, par. 4654205 ILCS 510/7from Ch. 17, par. 4657205 ILCS 620/5-10.5205 ILCS 620/6-5from Ch. 17, par. 1556-5205 ILCS 635/4-1from Ch. 17, par. 2324-1205 ILCS 635/4-1.5 new205 ILCS 650/2from Ch. 17, par. 2852205 ILCS 650/9 newAdds reference to:735 ILCS 5/15-1508from Ch. 110, par. 15-1508P.A. 97-849, Sec. 99Replaces everything after the enacting clause. Amends the Code of Civil Procedure. Provides that certain provisions concerning the Making Home Affordable Program become inoperative on January 1, 2014 (instead of January 1, 2013) for all mortgage foreclosure actions filed after December 31, 2013 (instead of December 31, 2012) in which the mortgagor did not apply for assistance under the Making Home Affordable Program on or before December 31, 2013 (instead of December 31, 2012). Amends Public Act 97-849 by providing that Sections of the Public Act concerning the High Risk Home Loan Act take effect on the effective date of the federal regulations implementing Sections 1431, 1432, and 1433 of the federal Dodd-Frank Wall Street Reform and Consumer Protection Act (instead of January 1, 2013). Effective immediately. 2/10/2012SenateFiled with Secretary by Sen. Michael W. Frerichs 2/10/2012SenateFirst Reading 2/10/2012SenateReferred to Assignments 2/22/2012SenateAssigned to Financial Institutions 3/1/2012SenatePostponed - Financial Institutions 3/8/2012SenateDo Pass Financial Institutions; 008-000-000 3/8/2012SenatePlaced on Calendar Order of 2nd Reading March 21, 2012 3/20/2012SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Michael W. Frerichs 3/20/2012SenateSenate Floor Amendment No. 1 Referred to Assignments 3/22/2012SenateSenate Floor Amendment No. 1 Assignments Refers to Financial Institutions 3/22/2012SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Michael W. Frerichs 3/22/2012SenateSenate Floor Amendment No. 2 Referred to Assignments 3/26/2012SenateSenate Floor Amendment No. 2 Assignments Refers to Financial Institutions 3/27/2012SenateSenate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 008-000-000 3/27/2012SenateSenate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 008-000-000 3/27/2012SenateSecond Reading 3/27/2012SenateSenate Floor Amendment No. 1 Adopted; Frerichs 3/27/2012SenateSenate Floor Amendment No. 2 Adopted; Frerichs 3/27/2012SenatePlaced on Calendar Order of 3rd Reading March 28, 2012 3/29/2012SenateThird Reading - Passed; 047-000-000 3/29/2012HouseArrived in House 3/29/2012HouseChief House Sponsor Rep. Linda Chapa LaVia 3/29/2012HousePlaced on Calendar Order of First Reading 3/29/2012HouseFirst Reading 3/29/2012HouseReferred to Rules Committee 11/26/2012HouseAlternate Chief Sponsor Changed to Rep. Michael J. Zalewski 11/28/2012HouseFinal Action Deadline Extended-9(b) January 8, 2013 11/28/2012HouseAssigned to Executive Committee 11/29/2012HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Michael J. Zalewski 11/29/2012HouseHouse Committee Amendment No. 1 Referred to Rules Committee 12/4/2012SenateChief Sponsor Changed to Sen. Jacqueline Y. Collins 12/4/2012HouseHouse Committee Amendment No. 1 Rules Refers to Executive Committee 12/5/2012HouseHouse Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote 12/5/2012HouseDo Pass as Amended / Short Debate Executive Committee; 011-000-000 12/5/2012HousePlaced on Calendar 2nd Reading - Short Debate 12/5/2012HouseSecond Reading - Short Debate 12/5/2012HouseHeld on Calendar Order of Second Reading - Short Debate 12/20/2012HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Michael J. Zalewski 12/20/2012HouseHouse Floor Amendment No. 2 Referred to Rules Committee 12/21/2012HouseHouse Floor Amendment No. 2 Rules Refers to Executive Committee 1/8/2013HouseRule 19(a) / Re-referred to Rules Committee 1/8/2013SenateSession Sine Die