Illinois General Assembly - Bill Status for SB3119
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 Bill Status of SB3119  102nd General Assembly


Short Description:  FIN-CREDIT UNION BANK PURCHASE

Senate Sponsors
Sen. Brian W. Stewart

Last Action
DateChamber Action
  2/10/2022SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
205 ILCS 305/12.5 new


Synopsis As Introduced
Amends the Illinois Credit Union Act. Provides that an acquiring credit union shall be liable for a fee equal to 10% of the book value of the assets or liabilities, whichever is greater, of a bank that has been purchased by the credit union. Provides that the provision applies to all banks, savings banks, savings and loan associations, and credit unions chartered or holding a certificate of authority to do business under the laws of this State or any other state or under the laws of the United States. Defines "book value of the assets or liabilities of a bank".

Actions 
DateChamber Action
  1/11/2022SenateFiled with Secretary by Sen. Brian W. Stewart
  1/11/2022SenateFirst Reading
  1/11/2022SenateReferred to Assignments
  2/1/2022SenateAssigned to Financial Institutions
  2/10/2022SenatePostponed - Financial Institutions
  2/10/2022SenateRule 3-9(a) / Re-referred to Assignments

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