SB2254 98TH GENERAL ASSEMBLY

LRB098 10599 MGM 40862 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB2254

Introduced 2/15/2013, by Sen. James F. Clayborne, Jr.

SYNOPSIS AS INTRODUCED:

205 ILCS 616/20

Amends the Electronic Fund Transfer Act. Makes a technical change in a Section concerning the powers of the Commissioner of Banks and Real Estate.

A BILL FOR

AN ACT concerning regulation.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Electronic Fund Transfer Act is amended by changing Section 20 as follows:

(205 ILCS 616/20)

Sec. 20. Powers and duties of Commissioner. The The Commissioner shall have the following powers and duties:

(1) to promulgate reasonable rules in accordance with the Illinois Administrative Procedure Act for the administration of this Act;

(2) to issue orders for the enforcement of this Act and any rule promulgated under this Act;

(3) to appoint hearing officers to exercise any delegated powers;

(4) to subpoena witnesses, compel their attendance, administer oaths, examine any person under oath, and require the production of any relevant books, papers, accounts, and documents in the course of and pursuant to any investigation conducted or action taken by the Commissioner; and

(5) to conduct hearings.

(Source: P.A. 92-811, eff. 8-21-02.)