Sen. John J. Cullerton

Filed: 5/16/2012

 

 


 

 


 
09700HB1882sam001LRB097 10201 PJG 69633 a

1
AMENDMENT TO HOUSE BILL 1882

2    AMENDMENT NO. ______. Amend House Bill 1882 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Finance Authority Act is amended
5by changing Section 805-10 as follows:
 
6    (20 ILCS 3501/805-10)
7    Sec. 805-10. Definitions. The The following terms,
8whenever used or referred to in this Article, shall have the
9following meanings ascribed to them, except where the context
10clearly requires otherwise:
11    (a) "Financial Institution" means a financial institution
12which is a trust company, a bank, a savings bank, a credit
13union, an investment bank, a broker, an investment trust, a
14pension fund, a building and loan association, a savings and
15loan association, an insurance company, or any other
16institution acceptable to the Authority, authorized to do

 

 

09700HB1882sam001- 2 -LRB097 10201 PJG 69633 a

1business in the State and approved by the Authority to insure
2bonds or loans for industrial projects authorized by this Act.
3    (b) "Participating lender" means any trust company, bank,
4savings bank, credit union, investment bank, broker,
5investment trust, pension fund, building and loan association,
6savings and loan association, insurance company or other
7institution approved by the Authority which assumes a portion
8of the risk on a loan for an industrial project as provided in
9Section 805-30 of this Act.
10(Source: P.A. 93-205, eff. 1-1-04.)".