Illinois General Assembly - Bill Status for SB1332
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 Bill Status of SB1332  96th General Assembly

Short Description:  FIN REG-AFFILIATES

Senate Sponsors
Sen. Kirk W. Dillard - Kimberly A. Lightford - Donne E. Trotter

House Sponsors
(Rep. Franco Coladipietro - Jay C. Hoffman - Kevin A. McCarthy - Robert Rita - William D. Burns)

Last Action
DateChamber Action
  7/29/2010SenatePublic Act . . . . . . . . . 96-1391

Statutes Amended In Order of Appearance
205 ILCS 620/2-14 new


Synopsis As Introduced
Amends the Corporate Fiduciary Act. Adds provisions concerning investments and participation by affiliates of any bank or trust company acting in its fiduciary capacity. Provides that any bank or trust company may purchase services or products from an affiliate, provided that the purchase is otherwise prudent and not prohibited by the instrument governing the fiduciary relationship. Provides that the compensation for the service or product may be in addition to the compensation that the bank or trust company or its affiliate is otherwise entitled as a fiduciary. Provides that the bank or trust company must disclose, in a specified manner, any purchase authorized by the new provisions. Provides that the new provisions apply to any bank or trust company doing banking or trust business in this State, including any national bank or national trust company or any of its affiliates.

House Committee Amendment No. 1
Deletes reference to:
205 ILCS 620/2-14 new
Adds reference to:
110 ILCS 305/30
110 ILCS 520/16
110 ILCS 660/5-125
110 ILCS 665/10-125
110 ILCS 670/15-125
110 ILCS 675/20-130
110 ILCS 680/25-125
110 ILCS 685/30-135
110 ILCS 690/35-130
110 ILCS 805/3-60

Deletes everything after the enacting clause. Amends various Acts relating to the governance of public universities in Illinois and the Public Community College Act. Provides that the prohibition on a higher education institution providing a student's name, address, telephone number, social security number, e-mail address, or other personal identifying information to a business organization or financial institution that issues credit or debit cards does not apply to service providers of the higher education institution that (i) assist the higher education institution in the electronic disbursement of refunds, including, but not limited to, financial aid refunds, and (ii) do not provide loan or credit services. Effective immediately.

Actions 
DateChamber Action
  2/10/2009SenateFiled with Secretary by Sen. Kirk W. Dillard
  2/10/2009SenateFirst Reading
  2/10/2009SenateReferred to Assignments
  2/18/2009SenateAssigned to Financial Institutions
  2/26/2009SenateAdded as Chief Co-Sponsor Sen. Kimberly A. Lightford
  2/27/2009SenateDo Pass Financial Institutions; 011-000-000
  2/27/2009SenatePlaced on Calendar Order of 2nd Reading March 4, 2009
  3/5/2009SenateSecond Reading
  3/5/2009SenatePlaced on Calendar Order of 3rd Reading March 6, 2009
  3/26/2009SenateAdded as Chief Co-Sponsor Sen. Donne E. Trotter
  3/26/2009SenateThird Reading - Passed; 056-000-000
  3/26/2009HouseArrived in House
  3/26/2009HousePlaced on Calendar Order of First Reading
  4/2/2009HouseChief House Sponsor Rep. Mark H. Beaubien, Jr.
  4/2/2009HouseFirst Reading
  4/2/2009HouseReferred to Rules Committee
  4/14/2009HouseAssigned to Executive Committee
  5/8/2009HouseRule 19(a) / Re-referred to Rules Committee
  4/26/2010HouseAlternate Chief Sponsor Changed to Rep. Franco Coladipietro
  4/26/2010HouseFinal Action Deadline Extended-9(b) May 7, 2010
  4/26/2010HouseAssigned to Higher Education Committee
  5/3/2010HouseHouse Committee Amendment No. 1 Filed with Clerk by Higher Education Committee
  5/3/2010HouseHouse Committee Amendment No. 1 Adopted in Higher Education Committee; by Voice Vote
  5/3/2010HouseDo Pass as Amended / Short Debate Higher Education Committee; 004-000-000
  5/3/2010HousePlaced on Calendar 2nd Reading - Short Debate
  5/3/2010HouseSecond Reading - Short Debate
  5/3/2010HouseHeld on Calendar Order of Second Reading - Short Debate
  5/4/2010HouseAdded Alternate Chief Co-Sponsor Rep. Jay C. Hoffman
  5/4/2010HouseAdded Alternate Chief Co-Sponsor Rep. Kevin A. McCarthy
  5/4/2010HouseAdded Alternate Chief Co-Sponsor Rep. Robert Rita
  5/4/2010HouseAdded Alternate Chief Co-Sponsor Rep. William D. Burns
  5/4/2010HouseSecond Reading - Short Debate
  5/4/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/5/2010HouseThird Reading - Short Debate - Passed 117-000-000
  5/5/2010SenateSecretary's Desk - Concurrence House Amendment(s) 1
  5/5/2010SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - May 6, 2010
  5/6/2010SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Kirk W. Dillard
  5/6/2010SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments
  5/7/2010SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive
  5/7/2010SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 012-000-000
  5/7/2010SenateHouse Committee Amendment No. 1 Senate Concurs 057-000-000
  5/7/2010SenatePassed Both Houses
  6/4/2010SenateSent to the Governor
  7/29/2010SenateGovernor Approved
  7/29/2010SenateEffective Date July 29, 2010
  7/29/2010SenatePublic Act . . . . . . . . . 96-1391

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