Full Text of HB1882 97th General Assembly
HB1882sam001 97TH GENERAL ASSEMBLY
| Sen. John J. Cullerton Filed: 5/16/2012
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| | 1 | | AMENDMENT TO HOUSE BILL 1882
| | 2 | | AMENDMENT NO. ______. Amend House Bill 1882 by replacing | | 3 | | everything after the enacting clause with the following:
| | 4 | | "Section 5. The Illinois Finance Authority Act is amended | | 5 | | by changing Section 805-10 as follows:
| | 6 | | (20 ILCS 3501/805-10)
| | 7 | | Sec. 805-10. Definitions. The
The following terms, | | 8 | | whenever used or referred
to in this Article, shall have the | | 9 | | following meanings ascribed to them, except
where the context | | 10 | | clearly requires otherwise: | | 11 | | (a) "Financial Institution" means a financial institution | | 12 | | which is a trust
company, a bank, a savings bank, a credit | | 13 | | union, an investment bank, a broker,
an investment trust, a | | 14 | | pension fund, a building and loan association, a savings
and | | 15 | | loan association, an insurance company, or any other | | 16 | | institution acceptable
to the Authority, authorized to do |
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| | 1 | | business in the State and approved by the
Authority to insure | | 2 | | bonds or loans for industrial projects authorized by this
Act.
| | 3 | | (b) "Participating lender" means any trust company, bank, | | 4 | | savings bank,
credit
union, investment bank, broker, | | 5 | | investment trust, pension fund, building and
loan association, | | 6 | | savings and loan association, insurance company or other
| | 7 | | institution approved by the Authority which assumes a portion | | 8 | | of the risk on a
loan for an industrial project as provided in
| | 9 | | Section 805-30 of this Act.
| | 10 | | (Source: P.A. 93-205, eff. 1-1-04.)".
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