Full Text of SB2385 100th General Assembly
SB2385enr 100TH GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning regulation.
| 2 | | Be it enacted by the People of the State of Illinois, | 3 | | represented in the General Assembly:
| 4 | | Section 5. The Illinois Banking Act is amended by changing | 5 | | Section 48.1 as follows:
| 6 | | (205 ILCS 5/48.1) (from Ch. 17, par. 360)
| 7 | | Sec. 48.1. Customer financial records; confidentiality.
| 8 | | (a) For the purpose of this Section, the term "financial | 9 | | records" means any
original, any copy, or any summary of:
| 10 | | (1) a document granting signature
authority over a | 11 | | deposit or account;
| 12 | | (2) a statement, ledger card or other
record on any | 13 | | deposit or account, which shows each transaction in or with
| 14 | | respect to that account;
| 15 | | (3) a check, draft or money order drawn on a bank
or | 16 | | issued and payable by a bank; or
| 17 | | (4) any other item containing
information pertaining | 18 | | to any relationship established in the ordinary
course of a | 19 | | bank's business between a bank and its customer, including
| 20 | | financial statements or other financial information | 21 | | provided by the customer.
| 22 | | (b) This Section does not prohibit:
| 23 | | (1) The preparation, examination, handling or |
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| 1 | | maintenance of any
financial records by any officer, | 2 | | employee or agent of a bank
having custody of the records, | 3 | | or the examination of the records by a
certified public | 4 | | accountant engaged by the bank to perform an independent
| 5 | | audit.
| 6 | | (2) The examination of any financial records by, or the | 7 | | furnishing of
financial records by a bank to, any officer, | 8 | | employee or agent of (i) the
Commissioner of Banks and Real | 9 | | Estate, (ii) after May
31, 1997, a state regulatory | 10 | | authority authorized to examine a branch of a
State bank | 11 | | located in another state, (iii) the Comptroller of the | 12 | | Currency,
(iv) the Federal Reserve Board, or (v) the | 13 | | Federal Deposit Insurance
Corporation for use solely in the | 14 | | exercise of his duties as an officer,
employee, or agent.
| 15 | | (3) The publication of data furnished from financial | 16 | | records
relating to customers where the data cannot be | 17 | | identified to any
particular customer or account.
| 18 | | (4) The making of reports or returns required under | 19 | | Chapter 61 of
the Internal Revenue Code of 1986.
| 20 | | (5) Furnishing information concerning the dishonor of | 21 | | any negotiable
instrument permitted to be disclosed under | 22 | | the Uniform Commercial Code.
| 23 | | (6) The exchange in the regular course of business of | 24 | | (i) credit
information
between a bank and other banks or | 25 | | financial institutions or commercial
enterprises, directly | 26 | | or through a consumer reporting agency or (ii)
financial |
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| 1 | | records or information derived from financial records | 2 | | between a bank
and other banks or financial institutions or | 3 | | commercial enterprises for the
purpose of conducting due | 4 | | diligence pursuant to a purchase or sale involving
the bank | 5 | | or assets or liabilities of the bank.
| 6 | | (7) The furnishing of information to the appropriate | 7 | | law enforcement
authorities where the bank reasonably | 8 | | believes it has been the victim of a
crime.
| 9 | | (8) The furnishing of information under the Revised | 10 | | Uniform
Unclaimed Property Act.
| 11 | | (9) The furnishing of information under the Illinois | 12 | | Income Tax Act and
the Illinois Estate and | 13 | | Generation-Skipping Transfer Tax Act.
| 14 | | (10) The furnishing of information under the federal | 15 | | Currency
and Foreign Transactions Reporting Act Title 31, | 16 | | United States
Code, Section 1051 et seq.
| 17 | | (11) The furnishing of information under any other | 18 | | statute that
by its terms or by regulations promulgated | 19 | | thereunder requires the disclosure
of financial records | 20 | | other than by subpoena, summons, warrant, or court order.
| 21 | | (12) The furnishing of information about the existence | 22 | | of an account
of a person to a judgment creditor of that | 23 | | person who has made a written
request for that information.
| 24 | | (13) The exchange in the regular course of business of | 25 | | information
between commonly owned banks in connection | 26 | | with a transaction authorized
under paragraph (23) of
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| 1 | | Section 5 and conducted at an affiliate facility.
| 2 | | (14) The furnishing of information in accordance with | 3 | | the federal
Personal Responsibility and Work Opportunity | 4 | | Reconciliation Act of 1996.
Any bank governed by this Act | 5 | | shall enter into an agreement for data
exchanges with a | 6 | | State agency provided the State agency
pays to the bank a | 7 | | reasonable fee not to exceed its
actual cost incurred. A | 8 | | bank providing
information in accordance with this item | 9 | | shall not be liable to any account
holder or other person | 10 | | for any disclosure of information to a State agency, for
| 11 | | encumbering or surrendering any assets held by the bank in | 12 | | response to a lien
or order to withhold and deliver issued | 13 | | by a State agency, or for any other
action taken pursuant | 14 | | to this item, including individual or mechanical errors,
| 15 | | provided the action does not constitute gross negligence or | 16 | | willful misconduct.
A bank shall have no obligation to | 17 | | hold, encumber, or surrender assets until
it has been | 18 | | served with a subpoena, summons, warrant, court or | 19 | | administrative
order,
lien, or levy.
| 20 | | (15) The exchange in the regular course of business of | 21 | | information
between
a bank and any commonly owned affiliate | 22 | | of the bank, subject to the provisions
of the Financial | 23 | | Institutions Insurance Sales Law.
| 24 | | (16) The furnishing of information to law enforcement | 25 | | authorities, the
Illinois Department on
Aging and its | 26 | | regional administrative and provider agencies, the |
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| 1 | | Department of
Human Services Office
of Inspector General, | 2 | | or public guardians: (i) upon subpoena by the investigatory | 3 | | entity or the guardian, or (ii) if there is suspicion by | 4 | | the bank that a customer
who is an elderly person or person | 5 | | with a disability has been or may become the victim of | 6 | | financial exploitation.
For the purposes of this
item (16), | 7 | | the term: (i) "elderly person" means a person who is 60 or | 8 | | more
years of age, (ii) "disabled
person" means a person | 9 | | who has or reasonably appears to the bank to have a
| 10 | | physical or mental
disability that impairs his or her | 11 | | ability to seek or obtain protection from or
prevent | 12 | | financial
exploitation, and (iii) "financial exploitation" | 13 | | means tortious or illegal use
of the assets or resources of
| 14 | | an elderly or disabled person, and includes, without | 15 | | limitation,
misappropriation of the elderly or
disabled | 16 | | person's assets or resources by undue influence, breach of | 17 | | fiduciary
relationship, intimidation,
fraud, deception, | 18 | | extortion, or the use of assets or resources in any manner
| 19 | | contrary to law. A bank or
person furnishing information | 20 | | pursuant to this item (16) shall be entitled to
the same | 21 | | rights and
protections as a person furnishing information | 22 | | under the Adult Protective Services Act and the Illinois
| 23 | | Domestic Violence Act of 1986.
| 24 | | (17) The disclosure of financial records or | 25 | | information as necessary to
effect, administer, or enforce | 26 | | a transaction requested or authorized by the
customer, or |
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| 1 | | in connection with:
| 2 | | (A) servicing or processing a financial product or | 3 | | service requested or
authorized by the customer;
| 4 | | (B) maintaining or servicing a customer's account | 5 | | with the bank; or
| 6 | | (C) a proposed or actual securitization or | 7 | | secondary market sale
(including sales of servicing | 8 | | rights) related to a
transaction of a customer.
| 9 | | Nothing in this item (17), however, authorizes the sale | 10 | | of the financial
records or information of a customer | 11 | | without the consent of the customer.
| 12 | | (18) The disclosure of financial records or | 13 | | information as necessary to
protect against actual or | 14 | | potential fraud, unauthorized transactions, claims,
or | 15 | | other liability.
| 16 | | (19)(a) The disclosure of financial records or | 17 | | information
related to a private label credit program | 18 | | between a financial
institution and a private label party | 19 | | in connection with that
private label credit program. Such | 20 | | information is limited to
outstanding balance, available | 21 | | credit, payment and performance
and account history, | 22 | | product references, purchase information,
and information
| 23 | | related to the identity of the customer.
| 24 | | (20)(a) The furnishing of financial records of a | 25 | | customer to the Department to aid the Department's initial | 26 | | determination or subsequent re-determination of the |
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| 1 | | customer's eligibility for Medicaid and Medicaid long-term | 2 | | care benefits for long-term care services, provided that | 3 | | the bank receives the written consent and authorization of | 4 | | the customer, which shall: | 5 | | (1) have the customer's signature notarized; | 6 | | (2) be signed by at least one witness who certifies | 7 | | that he or she believes the customer to be of sound | 8 | | mind and memory; | 9 | | (3) be tendered to the bank at the earliest | 10 | | practicable time following its execution, | 11 | | certification, and notarization; | 12 | | (4) specifically limit the disclosure of the | 13 | | customer's financial records to the Department; and | 14 | | (5) be in substantially the following form: | 15 | | CUSTOMER CONSENT AND AUTHORIZATION | 16 | | FOR RELEASE OF FINANCIAL RECORDS | 17 | | I, ......................................., hereby authorize | 18 | | (Name of Customer) | 19 | | ............................................................. | 20 | | (Name of Financial Institution) | 21 | | ............................................................. | 22 | | (Address of Financial Institution) |
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| 1 | | to disclose the following financial records: | 2 | | any and all information concerning my deposit, savings, money | 3 | | market, certificate of deposit, individual retirement, | 4 | | retirement plan, 401(k) plan, incentive plan, employee benefit | 5 | | plan, mutual fund and loan accounts (including, but not limited | 6 | | to, any indebtedness or obligation for which I am a | 7 | | co-borrower, co-obligor, guarantor, or surety), and any and all | 8 | | other accounts in which I have an interest and any other | 9 | | information regarding me in the possession of the Financial | 10 | | Institution, | 11 | | to the Illinois Department of Human Services or the Illinois | 12 | | Department of Healthcare and Family Services, or both ("the | 13 | | Department"), for the following purpose(s): | 14 | | to aid in the initial determination or re-determination by the | 15 | | State of Illinois of my eligibility for Medicaid long-term care | 16 | | benefits, pursuant to applicable law. | 17 | | I understand that this Consent and Authorization may be revoked | 18 | | by me in writing at any time before my financial records, as | 19 | | described above, are disclosed, and that this Consent and | 20 | | Authorization is valid until the Financial Institution | 21 | | receives my written revocation. This Consent and Authorization |
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| 1 | | shall constitute valid authorization for the Department | 2 | | identified above to inspect all such financial records set | 3 | | forth above, and to request and receive copies of such | 4 | | financial records from the Financial Institution (subject to | 5 | | such records search and reproduction reimbursement policies as | 6 | | the Financial Institution may have in place). An executed copy | 7 | | of this Consent and Authorization shall be sufficient and as | 8 | | good as the original and permission is hereby granted to honor | 9 | | a photostatic or electronic copy of this Consent and | 10 | | Authorization. Disclosure is strictly limited to the | 11 | | Department identified above and no other person or entity shall | 12 | | receive my financial records pursuant to this Consent and | 13 | | Authorization. By signing this form, I agree to indemnify and | 14 | | hold the Financial Institution harmless from any and all | 15 | | claims, demands, and losses, including reasonable attorneys | 16 | | fees and expenses, arising from or incurred in its reliance on | 17 | | this Consent and Authorization. As used herein, "Customer" | 18 | | shall mean "Member" if the Financial Institution is a credit | 19 | | union. | 20 | | ....................... ...................... | 21 | | (Date) (Signature of Customer) | 22 | | ...................... | 23 | | ...................... | 24 | | (Address of Customer) |
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| 1 | | ...................... | 2 | | (Customer's birth date) | 3 | | (month/day/year) | 4 | | The undersigned witness certifies that ................., | 5 | | known to me to be the same person whose name is subscribed as | 6 | | the customer to the foregoing Consent and Authorization, | 7 | | appeared before me and the notary public and acknowledged | 8 | | signing and delivering the instrument as his or her free and | 9 | | voluntary act for the uses and purposes therein set forth. I | 10 | | believe him or her to be of sound mind and memory. The | 11 | | undersigned witness also certifies that the witness is not an | 12 | | owner, operator, or relative of an owner or operator of a | 13 | | long-term care facility in which the customer is a patient or | 14 | | resident. | 15 | | Dated: ................. ...................... | 16 | | (Signature of Witness) | 17 | | ...................... | 18 | | (Print Name of Witness) | 19 | | ...................... | 20 | | ...................... | 21 | | (Address of Witness) |
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| 1 | | State of Illinois) | 2 | | ) ss. | 3 | | County of .......) | 4 | | The undersigned, a notary public in and for the above county | 5 | | and state, certifies that .........., known to me to be the | 6 | | same person whose name is subscribed as the customer to the | 7 | | foregoing Consent and Authorization, appeared before me | 8 | | together with the witness, .........., in person and | 9 | | acknowledged signing and delivering the instrument as the free | 10 | | and voluntary act of the customer for the uses and purposes | 11 | | therein set forth. | 12 | | Dated: ....................................................... | 13 | | Notary Public: ............................................... | 14 | | My commission expires: ....................................... | 15 | | (b) In no event shall the bank distribute the | 16 | | customer's financial records to the long-term care | 17 | | facility from which the customer seeks initial or | 18 | | continuing residency or long-term care services. | 19 | | (c) A bank providing financial records of a customer in | 20 | | good faith relying on a consent and authorization executed | 21 | | and tendered in accordance with this paragraph (20) shall | 22 | | not be liable to the customer or any other person in |
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| 1 | | relation to the bank's disclosure of the customer's | 2 | | financial records to the Department. The customer signing | 3 | | the consent and authorization shall indemnify and hold the | 4 | | bank harmless that relies in good faith upon the consent | 5 | | and authorization and incurs a loss because of such | 6 | | reliance. The bank recovering under this indemnification | 7 | | provision shall also be entitled to reasonable attorney's | 8 | | fees and the expenses of recovery. | 9 | | (d) A bank shall be reimbursed by the customer for all | 10 | | costs reasonably necessary and directly incurred in | 11 | | searching for, reproducing, and disclosing a customer's | 12 | | financial records required or requested to be produced | 13 | | pursuant to any consent and authorization executed under | 14 | | this paragraph (20). The requested financial records shall | 15 | | be delivered to the Department within 10 days after | 16 | | receiving a properly executed consent and authorization or | 17 | | at the earliest practicable time thereafter if the | 18 | | requested records cannot be delivered within 10 days, but | 19 | | delivery may be delayed until the final reimbursement of | 20 | | all costs is received by the bank. The bank may honor a | 21 | | photostatic or electronic copy of a properly executed | 22 | | consent and authorization. | 23 | | (e) Nothing in this paragraph (20) shall impair, | 24 | | abridge, or abrogate the right of a customer to: | 25 | | (1) directly disclose his or her financial records | 26 | | to the Department or any other person; or |
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| 1 | | (2) authorize his or her attorney or duly appointed | 2 | | agent to request and obtain the customer's financial | 3 | | records and disclose those financial records to the | 4 | | Department. | 5 | | (f) For purposes of this paragraph (20), "Department" | 6 | | means the Department of Human Services and the Department | 7 | | of Healthcare and Family Services or any successor | 8 | | administrative agency of either agency. | 9 | | (b)(1) For purposes of this paragraph (19) of | 10 | | subsection
(b) of Section 48.1, a "private label credit | 11 | | program" means a
credit program involving a financial | 12 | | institution and a private label
party that is used by a | 13 | | customer of the financial institution and the
private label | 14 | | party primarily for payment for goods or services
sold, | 15 | | manufactured, or distributed by a private label party.
| 16 | | (2) For purposes of this paragraph (19) of subsection | 17 | | (b)
of Section 48.1, a "private label party" means, with | 18 | | respect to a
private label credit program, any of the | 19 | | following: a
retailer, a merchant, a manufacturer, a trade | 20 | | group,
or any such person's affiliate, subsidiary, member,
| 21 | | agent, or service provider.
| 22 | | (c) Except as otherwise provided by this Act, a bank may | 23 | | not disclose to
any person, except to the customer or his
duly | 24 | | authorized agent, any financial records or financial | 25 | | information
obtained from financial records relating to that | 26 | | customer of
that bank unless:
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| 1 | | (1) the customer has authorized disclosure to the | 2 | | person;
| 3 | | (2) the financial records are disclosed in response to | 4 | | a lawful
subpoena, summons, warrant, citation to discover | 5 | | assets, or court order which meets the requirements
of | 6 | | subsection (d) of this Section; or
| 7 | | (3) the bank is attempting to collect an obligation | 8 | | owed to the bank
and the bank complies with the provisions | 9 | | of Section 2I of the Consumer
Fraud and Deceptive Business | 10 | | Practices Act.
| 11 | | (d) A bank shall disclose financial records under paragraph | 12 | | (2) of
subsection (c) of this Section under a lawful subpoena, | 13 | | summons, warrant, citation to discover assets, or
court order | 14 | | only after the bank mails a copy of the subpoena, summons, | 15 | | warrant, citation to discover assets,
or court order to the | 16 | | person establishing the relationship with the bank, if
living, | 17 | | and, otherwise his personal representative, if known, at his | 18 | | last known
address by first class mail, postage prepaid, unless | 19 | | the bank is specifically
prohibited from notifying the person | 20 | | by order of court or by applicable State
or federal law. A bank | 21 | | shall not mail a copy of a subpoena to any person
pursuant to | 22 | | this subsection if the subpoena was issued by a grand jury | 23 | | under
the Statewide Grand Jury Act.
| 24 | | (e) Any officer or employee of a bank who knowingly and
| 25 | | willfully furnishes financial records in violation of this | 26 | | Section is
guilty of a business offense and, upon conviction, |
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| 1 | | shall be fined not
more than $1,000.
| 2 | | (f) Any person who knowingly and willfully induces or | 3 | | attempts to
induce any officer or employee of a bank to | 4 | | disclose financial
records in violation of this Section is | 5 | | guilty of a business offense
and, upon conviction, shall be | 6 | | fined not more than $1,000.
| 7 | | (g) A bank shall be reimbursed for costs that are | 8 | | reasonably necessary
and that have been directly incurred in | 9 | | searching for, reproducing, or
transporting books, papers, | 10 | | records, or other data of a customer required or
requested to | 11 | | be produced pursuant to a lawful subpoena, summons, warrant, | 12 | | citation to discover assets, or
court order. The Commissioner | 13 | | shall determine the rates and conditions
under which payment | 14 | | may be made.
| 15 | | (Source: P.A. 99-143, eff. 7-27-15; 100-22, eff. 1-1-18 .)
| 16 | | Section 10. The Savings Bank Act is amended by changing | 17 | | Section 4013 as follows:
| 18 | | (205 ILCS 205/4013) (from Ch. 17, par. 7304-13)
| 19 | | Sec. 4013. Access to books and records; communication with | 20 | | members
and shareholders. | 21 | | (a) Every member or shareholder shall have the right to | 22 | | inspect books
and records of the savings bank that pertain to | 23 | | his accounts. Otherwise,
the right of inspection and | 24 | | examination of the books and records shall be
limited as |
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| 1 | | provided in this Act, and no other person shall have access to
| 2 | | the books and records nor shall be entitled to a list of the | 3 | | members or
shareholders.
| 4 | | (b) For the purpose of this Section, the term "financial | 5 | | records" means
any original, any copy, or any summary of (1) a | 6 | | document granting signature
authority over a deposit or | 7 | | account; (2) a statement, ledger card, or other
record on any | 8 | | deposit or account that shows each transaction in or with
| 9 | | respect to that account; (3) a check, draft, or money order | 10 | | drawn on a
savings bank or issued and payable by a savings | 11 | | bank; or (4) any other item
containing information pertaining | 12 | | to any relationship established in the
ordinary course of a | 13 | | savings bank's business between a savings bank and
its | 14 | | customer, including financial statements or other financial | 15 | | information
provided by the member or shareholder.
| 16 | | (c) This Section does not prohibit:
| 17 | | (1) The preparation, examination, handling, or | 18 | | maintenance of any
financial records by any officer, | 19 | | employee, or agent of a savings bank
having custody of | 20 | | records or examination of records by a certified public
| 21 | | accountant engaged by the savings bank to perform an | 22 | | independent audit.
| 23 | | (2) The examination of any financial records by, or the | 24 | | furnishing of
financial records by a savings bank to, any | 25 | | officer, employee, or agent of
the Commissioner of Banks | 26 | | and Real Estate or the federal depository
institution |
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| 1 | | regulator for use
solely in
the exercise of his duties as | 2 | | an officer, employee, or agent.
| 3 | | (3) The publication of data furnished from financial | 4 | | records relating
to members or holders of capital where the | 5 | | data cannot be identified to any
particular member, | 6 | | shareholder, or account.
| 7 | | (4) The making of reports or returns required under | 8 | | Chapter 61 of the
Internal Revenue Code of 1986.
| 9 | | (5) Furnishing information concerning the dishonor of | 10 | | any negotiable
instrument permitted to be disclosed under | 11 | | the Uniform Commercial Code.
| 12 | | (6) The exchange in the regular course of business of | 13 | | (i) credit
information between a savings bank and other | 14 | | savings banks or financial
institutions or commercial | 15 | | enterprises, directly or through a consumer
reporting | 16 | | agency
or (ii) financial records or information derived | 17 | | from financial records
between a savings bank and other | 18 | | savings banks or financial institutions or
commercial | 19 | | enterprises for the purpose of conducting due diligence | 20 | | pursuant to
a purchase or sale involving the savings bank | 21 | | or assets or liabilities of the
savings bank.
| 22 | | (7) The furnishing of information to the appropriate | 23 | | law enforcement
authorities where the savings bank | 24 | | reasonably believes it has been the
victim of a crime.
| 25 | | (8) The furnishing of information pursuant to the | 26 | | Revised Uniform Unclaimed Property Act.
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| 1 | | (9) The furnishing of information pursuant to the | 2 | | Illinois Income Tax
Act
and the Illinois Estate and | 3 | | Generation-Skipping Transfer Tax Act.
| 4 | | (10) The furnishing of information pursuant to the | 5 | | federal Currency
and Foreign Transactions Reporting Act, | 6 | | (Title 31, United States Code,
Section 1051 et seq.).
| 7 | | (11) The furnishing of information pursuant to any | 8 | | other statute which
by its terms or by regulations | 9 | | promulgated thereunder requires the
disclosure of | 10 | | financial records other than by subpoena, summons, | 11 | | warrant, or
court order.
| 12 | | (12) The furnishing of information in accordance with | 13 | | the federal
Personal Responsibility and Work Opportunity | 14 | | Reconciliation Act of 1996.
Any savings bank governed by | 15 | | this Act shall enter into an agreement for data
exchanges | 16 | | with a State agency provided the State agency
pays to the | 17 | | savings bank a reasonable fee not to exceed its
actual cost | 18 | | incurred. A savings bank
providing
information in | 19 | | accordance with this item shall not be liable to any | 20 | | account
holder or other person for any disclosure of | 21 | | information to a State agency, for
encumbering or | 22 | | surrendering any assets held by the savings bank in | 23 | | response to
a lien
or order to withhold and deliver issued | 24 | | by a State agency, or for any other
action taken pursuant | 25 | | to this item, including individual or mechanical errors,
| 26 | | provided the action does not constitute gross negligence or |
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| 1 | | willful misconduct.
A savings bank shall have no obligation | 2 | | to hold, encumber, or surrender
assets until
it has been | 3 | | served with a subpoena, summons, warrant, court or | 4 | | administrative
order,
lien, or levy.
| 5 | | (13) The furnishing of information to law enforcement | 6 | | authorities, the
Illinois Department on
Aging and its | 7 | | regional administrative and provider agencies, the | 8 | | Department of
Human Services Office
of Inspector General, | 9 | | or public guardians: (i) upon subpoena by the investigatory | 10 | | entity or the guardian, or (ii) if there is suspicion by | 11 | | the savings bank that a
customer who is an elderly
person | 12 | | or person with a disability has been or may become the | 13 | | victim of financial exploitation.
For the purposes of this
| 14 | | item (13), the term: (i) "elderly person" means a person | 15 | | who is 60 or more
years of age, (ii) "person with a | 16 | | disability" means a person who has or reasonably appears to | 17 | | the savings bank to
have a physical or mental
disability | 18 | | that impairs his or her ability to seek or obtain | 19 | | protection from or
prevent financial
exploitation, and | 20 | | (iii) "financial exploitation" means tortious or illegal | 21 | | use
of the assets or resources of
an elderly person or | 22 | | person with a disability, and includes, without | 23 | | limitation,
misappropriation of the assets or resources of | 24 | | the elderly person or person with a disability by undue | 25 | | influence, breach of fiduciary
relationship, intimidation,
| 26 | | fraud, deception, extortion, or the use of assets or |
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| 1 | | resources in any manner
contrary to law. A savings
bank or | 2 | | person furnishing information pursuant to this item (13) | 3 | | shall be
entitled to the same rights and
protections as a | 4 | | person furnishing information under the Adult Protective | 5 | | Services Act and the Illinois
Domestic Violence Act of | 6 | | 1986.
| 7 | | (14) The disclosure of financial records or | 8 | | information as necessary to
effect, administer, or enforce | 9 | | a transaction requested or authorized by the
member or | 10 | | holder of capital, or in connection with:
| 11 | | (A) servicing or processing a financial product or | 12 | | service requested or
authorized by the member or holder | 13 | | of capital;
| 14 | | (B) maintaining or servicing an account of a member | 15 | | or holder of capital
with the savings bank; or
| 16 | | (C) a proposed or actual securitization or | 17 | | secondary market sale
(including sales of servicing | 18 | | rights) related to a
transaction of a member or holder | 19 | | of capital.
| 20 | | Nothing in this item (14), however, authorizes the sale | 21 | | of the financial
records or information of a member or | 22 | | holder of capital without the consent of
the member or | 23 | | holder of capital.
| 24 | | (15) The exchange in the regular course of business of | 25 | | information between
a
savings bank and any commonly owned | 26 | | affiliate of the savings bank, subject to
the provisions of |
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| 1 | | the Financial Institutions Insurance Sales Law.
| 2 | | (16) The disclosure of financial records or | 3 | | information as necessary to
protect against or prevent | 4 | | actual or potential fraud, unauthorized
transactions, | 5 | | claims, or other liability.
| 6 | | (17)(a) The disclosure of financial records or | 7 | | information
related to a private label credit program | 8 | | between a financial
institution and a private label party | 9 | | in connection
with that private label credit program. Such | 10 | | information
is limited to outstanding balance, available | 11 | | credit, payment and
performance and account history, | 12 | | product references, purchase
information,
and information | 13 | | related to the identity of the
customer.
| 14 | | (b)(1) For purposes of this paragraph (17) of | 15 | | subsection
(c) of Section 4013, a "private label credit | 16 | | program" means a
credit program involving a financial | 17 | | institution and a private label
party that is used by a | 18 | | customer of the financial institution and the
private label | 19 | | party primarily for payment for goods or services
sold, | 20 | | manufactured, or distributed by a private label party.
| 21 | | (2) For purposes of this paragraph (17) of subsection | 22 | | (c)
of Section 4013, a "private label party" means, with | 23 | | respect to a
private label credit program, any of the | 24 | | following: a
retailer, a merchant, a manufacturer, a trade | 25 | | group,
or any such person's affiliate, subsidiary, member,
| 26 | | agent, or service provider.
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| 1 | | (18)(a) The furnishing of financial records of a | 2 | | customer to the Department to aid the Department's initial | 3 | | determination or subsequent re-determination of the | 4 | | customer's eligibility for Medicaid and Medicaid long-term | 5 | | care benefits for long-term care services, provided that | 6 | | the savings bank receives the written consent and | 7 | | authorization of the customer, which shall: | 8 | | (1) have the customer's signature notarized; | 9 | | (2) be signed by at least one witness who certifies | 10 | | that he or she believes the customer to be of sound | 11 | | mind and memory; | 12 | | (3) be tendered to the savings bank at the earliest | 13 | | practicable time following its execution, | 14 | | certification, and notarization; | 15 | | (4) specifically limit the disclosure of the | 16 | | customer's financial records to the Department; and | 17 | | (5) be in substantially the following form: | 18 | | CUSTOMER CONSENT AND AUTHORIZATION | 19 | | FOR RELEASE OF FINANCIAL RECORDS | 20 | | I, ......................................., hereby authorize | 21 | | (Name of Customer) | 22 | | ............................................................. | 23 | | (Name of Financial Institution) |
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| 1 | | ............................................................. | 2 | | (Address of Financial Institution) | 3 | | to disclose the following financial records: | 4 | | any and all information concerning my deposit, savings, money | 5 | | market, certificate of deposit, individual retirement, | 6 | | retirement plan, 401(k) plan, incentive plan, employee benefit | 7 | | plan, mutual fund and loan accounts (including, but not limited | 8 | | to, any indebtedness or obligation for which I am a | 9 | | co-borrower, co-obligor, guarantor, or surety), and any and all | 10 | | other accounts in which I have an interest and any other | 11 | | information regarding me in the possession of the Financial | 12 | | Institution, | 13 | | to the Illinois Department of Human Services or the Illinois | 14 | | Department of Healthcare and Family Services, or both ("the | 15 | | Department"), for the following purpose(s): | 16 | | to aid in the initial determination or re-determination by the | 17 | | State of Illinois of my eligibility for Medicaid long-term care | 18 | | benefits, pursuant to applicable law. | 19 | | I understand that this Consent and Authorization may be revoked | 20 | | by me in writing at any time before my financial records, as |
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| 1 | | described above, are disclosed, and that this Consent and | 2 | | Authorization is valid until the Financial Institution | 3 | | receives my written revocation. This Consent and Authorization | 4 | | shall constitute valid authorization for the Department | 5 | | identified above to inspect all such financial records set | 6 | | forth above, and to request and receive copies of such | 7 | | financial records from the Financial Institution (subject to | 8 | | such records search and reproduction reimbursement policies as | 9 | | the Financial Institution may have in place). An executed copy | 10 | | of this Consent and Authorization shall be sufficient and as | 11 | | good as the original and permission is hereby granted to honor | 12 | | a photostatic or electronic copy of this Consent and | 13 | | Authorization. Disclosure is strictly limited to the | 14 | | Department identified above and no other person or entity shall | 15 | | receive my financial records pursuant to this Consent and | 16 | | Authorization. By signing this form, I agree to indemnify and | 17 | | hold the Financial Institution harmless from any and all | 18 | | claims, demands, and losses, including reasonable attorneys | 19 | | fees and expenses, arising from or incurred in its reliance on | 20 | | this Consent and Authorization. As used herein, "Customer" | 21 | | shall mean "Member" if the Financial Institution is a credit | 22 | | union. | 23 | | ....................... ...................... | 24 | | (Date) (Signature of Customer) |
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| 1 | | ...................... | 2 | | ...................... | 3 | | (Address of Customer) | 4 | | ...................... | 5 | | (Customer's birth date) | 6 | | (month/day/year) | 7 | | The undersigned witness certifies that ................., | 8 | | known to me to be the same person whose name is subscribed as | 9 | | the customer to the foregoing Consent and Authorization, | 10 | | appeared before me and the notary public and acknowledged | 11 | | signing and delivering the instrument as his or her free and | 12 | | voluntary act for the uses and purposes therein set forth. I | 13 | | believe him or her to be of sound mind and memory. The | 14 | | undersigned witness also certifies that the witness is not an | 15 | | owner, operator, or relative of an owner or operator of a | 16 | | long-term care facility in which the customer is a patient or | 17 | | resident. | 18 | | Dated: ................. ...................... | 19 | | (Signature of Witness) | 20 | | ...................... | 21 | | (Print Name of Witness) |
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| 1 | | ...................... | 2 | | ...................... | 3 | | (Address of Witness) | 4 | | State of Illinois) | 5 | | ) ss. | 6 | | County of .......) | 7 | | The undersigned, a notary public in and for the above county | 8 | | and state, certifies that .........., known to me to be the | 9 | | same person whose name is subscribed as the customer to the | 10 | | foregoing Consent and Authorization, appeared before me | 11 | | together with the witness, .........., in person and | 12 | | acknowledged signing and delivering the instrument as the free | 13 | | and voluntary act of the customer for the uses and purposes | 14 | | therein set forth. | 15 | | Dated: ....................................................... | 16 | | Notary Public: ............................................... | 17 | | My commission expires: ....................................... | 18 | | (b) In no event shall the savings bank distribute the | 19 | | customer's financial records to the long-term care | 20 | | facility from which the customer seeks initial or | 21 | | continuing residency or long-term care services. | 22 | | (c) A savings bank providing financial records of a |
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| 1 | | customer in good faith relying on a consent and | 2 | | authorization executed and tendered in accordance with | 3 | | this paragraph (18) shall not be liable to the customer or | 4 | | any other person in relation to the savings bank's | 5 | | disclosure of the customer's financial records to the | 6 | | Department. The customer signing the consent and | 7 | | authorization shall indemnify and hold the savings bank | 8 | | harmless that relies in good faith upon the consent and | 9 | | authorization and incurs a loss because of such reliance. | 10 | | The savings bank recovering under this indemnification | 11 | | provision shall also be entitled to reasonable attorney's | 12 | | fees and the expenses of recovery. | 13 | | (d) A savings bank shall be reimbursed by the customer | 14 | | for all costs reasonably necessary and directly incurred in | 15 | | searching for, reproducing, and disclosing a customer's | 16 | | financial records required or requested to be produced | 17 | | pursuant to any consent and authorization executed under | 18 | | this paragraph (18). The requested financial records shall | 19 | | be delivered to the Department within 10 days after | 20 | | receiving a properly executed consent and authorization or | 21 | | at the earliest practicable time thereafter if the | 22 | | requested records cannot be delivered within 10 days, but | 23 | | delivery may be delayed until the final reimbursement of | 24 | | all costs is received by the savings bank. The savings bank | 25 | | may honor a photostatic or electronic copy of a properly | 26 | | executed consent and authorization. |
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| 1 | | (e) Nothing in this paragraph (18) shall impair, | 2 | | abridge, or abrogate the right of a customer to: | 3 | | (1) directly disclose his or her financial records | 4 | | to the Department or any other person; or | 5 | | (2) authorize his or her attorney or duly appointed | 6 | | agent to request and obtain the customer's financial | 7 | | records and disclose those financial records to the | 8 | | Department. | 9 | | (f) For purposes of this paragraph (18), "Department" | 10 | | means the Department of Human Services and the Department | 11 | | of Healthcare and Family Services or any successor | 12 | | administrative agency of either agency. | 13 | | (d) A savings bank may not disclose to any person, except | 14 | | to the member
or holder of capital or his duly authorized | 15 | | agent, any financial records
relating to that member or | 16 | | shareholder of the savings bank unless:
| 17 | | (1) the member or shareholder has authorized | 18 | | disclosure to the person; or
| 19 | | (2) the financial records are disclosed in response to | 20 | | a lawful
subpoena, summons, warrant, citation to discover | 21 | | assets, or court order that meets the requirements of
| 22 | | subsection (e) of this Section.
| 23 | | (e) A savings bank shall disclose financial records under | 24 | | subsection (d)
of this Section pursuant to a lawful subpoena, | 25 | | summons, warrant, citation to discover assets, or court
order | 26 | | only after the savings bank mails a copy of the subpoena, |
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| 1 | | summons,
warrant, citation to discover assets, or court order | 2 | | to the person establishing the relationship with
the savings | 3 | | bank, if living, and otherwise, his personal representative, if
| 4 | | known, at his last known address by first class mail, postage | 5 | | prepaid,
unless the savings bank is specifically prohibited | 6 | | from notifying the
person by order of court.
| 7 | | (f) Any officer or employee of a savings bank who knowingly | 8 | | and
willfully furnishes financial records in violation of this | 9 | | Section is
guilty of a business offense and, upon conviction, | 10 | | shall be fined not
more than $1,000.
| 11 | | (g) Any person who knowingly and willfully induces or | 12 | | attempts to
induce any officer or employee of a savings bank to | 13 | | disclose financial
records in violation of this Section is | 14 | | guilty of a business offense and,
upon conviction, shall be | 15 | | fined not more than $1,000.
| 16 | | (h) If any member or shareholder desires to communicate | 17 | | with the other
members or shareholders of the savings bank with | 18 | | reference to any question
pending or to be presented at an | 19 | | annual or special meeting, the savings
bank shall give that | 20 | | person, upon request, a statement of the approximate
number of | 21 | | members or shareholders entitled to vote at the meeting and an
| 22 | | estimate of the cost of preparing and mailing the | 23 | | communication. The
requesting member shall submit the | 24 | | communication to the Commissioner
who, upon finding it to be | 25 | | appropriate and truthful, shall direct that it
be prepared and | 26 | | mailed to the members upon the requesting member's or
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| 1 | | shareholder's payment or adequate provision for payment of the | 2 | | expenses of
preparation and mailing.
| 3 | | (i) A savings bank shall be reimbursed for costs that are | 4 | | necessary and
that have been directly incurred in searching | 5 | | for, reproducing, or
transporting books, papers, records, or | 6 | | other data of a customer required
to be reproduced pursuant to | 7 | | a lawful subpoena, warrant, citation to discover assets, or | 8 | | court order.
| 9 | | (j) Notwithstanding the provisions of this Section, a | 10 | | savings bank may
sell or otherwise make use of lists of | 11 | | customers' names and addresses. All
other information | 12 | | regarding a customer's account is subject to the
disclosure | 13 | | provisions of this Section. At the request of any customer,
| 14 | | that customer's name and address shall be deleted from any list | 15 | | that is to
be sold or used in any other manner beyond | 16 | | identification of the customer's
accounts.
| 17 | | (Source: P.A. 99-143, eff. 7-27-15; 100-22, eff. 1-1-18; | 18 | | 100-201, eff. 8-18-17 .)
| 19 | | Section 15. The Illinois Credit Union Act is amended by | 20 | | changing Section 10 as follows:
| 21 | | (205 ILCS 305/10) (from Ch. 17, par. 4411)
| 22 | | Sec. 10. Credit union records; member financial records.
| 23 | | (1) A credit union shall establish and maintain books, | 24 | | records, accounting
systems and procedures which accurately |
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| 1 | | reflect its operations and which
enable the Department to | 2 | | readily ascertain the true financial condition
of the credit | 3 | | union and whether it is complying with this Act.
| 4 | | (2) A photostatic or photographic reproduction of any | 5 | | credit union records
shall be admissible as evidence of | 6 | | transactions with the credit union.
| 7 | | (3)(a) For the purpose of this Section, the term "financial | 8 | | records"
means any original, any copy, or any summary of (1) a | 9 | | document granting
signature authority over an account, (2) a | 10 | | statement, ledger card or other
record on any account which | 11 | | shows each transaction in or with respect to
that account, (3) | 12 | | a check, draft or money order drawn on a financial
institution | 13 | | or other entity or issued and payable by or through a financial
| 14 | | institution or other entity, or (4) any other item containing | 15 | | information
pertaining to any relationship established in the | 16 | | ordinary course of
business between a credit union and its | 17 | | member, including financial
statements or other financial | 18 | | information provided by the member.
| 19 | | (b) This Section does not prohibit:
| 20 | | (1) The preparation, examination, handling or | 21 | | maintenance of any
financial records by any officer, | 22 | | employee or agent of a credit union
having custody of such | 23 | | records, or the examination of such records by a
certified | 24 | | public accountant engaged by the credit union to perform an
| 25 | | independent audit.
| 26 | | (2) The examination of any financial records by or the |
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| 1 | | furnishing of
financial records by a credit union to any | 2 | | officer, employee or agent of
the Department, the National | 3 | | Credit Union Administration, Federal Reserve
board or any | 4 | | insurer of share accounts for use solely in the exercise of
| 5 | | his duties as an officer, employee or agent.
| 6 | | (3) The publication of data furnished from financial | 7 | | records relating
to members where the data cannot be | 8 | | identified to any particular customer
of account.
| 9 | | (4) The making of reports or returns required under | 10 | | Chapter 61 of the
Internal Revenue Code of 1954.
| 11 | | (5) Furnishing information concerning the dishonor of | 12 | | any negotiable
instrument permitted to be disclosed under | 13 | | the Uniform Commercial
Code.
| 14 | | (6) The exchange in the regular course of business
of | 15 | | (i) credit information
between a credit union and other | 16 | | credit unions or financial institutions
or commercial | 17 | | enterprises, directly or through a consumer reporting | 18 | | agency
or (ii) financial records or information derived | 19 | | from financial records
between a credit union and other | 20 | | credit unions or financial institutions or
commercial | 21 | | enterprises for
the purpose of conducting due diligence | 22 | | pursuant to a merger or a purchase or
sale of assets or | 23 | | liabilities of the credit union.
| 24 | | (7) The furnishing of information to the appropriate | 25 | | law enforcement
authorities where the credit union | 26 | | reasonably believes it has been the victim
of a crime.
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| 1 | | (8) The furnishing of information pursuant to the | 2 | | Revised Uniform Unclaimed Property Act.
| 3 | | (9) The furnishing of information pursuant to the | 4 | | Illinois Income Tax
Act and the Illinois Estate and | 5 | | Generation-Skipping Transfer Tax Act.
| 6 | | (10) The furnishing of information pursuant to the | 7 | | federal "Currency
and Foreign Transactions Reporting Act", | 8 | | Title 31, United States Code,
Section 1051 et sequentia.
| 9 | | (11) The furnishing of information pursuant to any | 10 | | other statute which
by its terms or by regulations | 11 | | promulgated thereunder requires the disclosure
of | 12 | | financial records other than by subpoena, summons, warrant | 13 | | or court order.
| 14 | | (12) The furnishing of information in accordance with | 15 | | the federal
Personal Responsibility and Work Opportunity | 16 | | Reconciliation Act of 1996.
Any credit union governed by | 17 | | this Act shall enter into an agreement for data
exchanges | 18 | | with a State agency provided the State agency
pays to the | 19 | | credit union a reasonable fee not to exceed its
actual cost | 20 | | incurred. A credit union
providing
information in | 21 | | accordance with this item shall not be liable to any | 22 | | account
holder or other person for any disclosure of | 23 | | information to a State agency, for
encumbering or | 24 | | surrendering any assets held by the credit union in | 25 | | response to
a lien
or order to withhold and deliver issued | 26 | | by a State agency, or for any other
action taken pursuant |
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| 1 | | to this item, including individual or mechanical errors,
| 2 | | provided the action does not constitute gross negligence or | 3 | | willful misconduct.
A credit union shall have no obligation | 4 | | to hold, encumber, or surrender
assets until
it has been | 5 | | served with a subpoena, summons, warrant, court or | 6 | | administrative
order, lien, or levy.
| 7 | | (13) The furnishing of information to law enforcement | 8 | | authorities, the
Illinois Department on
Aging and its | 9 | | regional administrative and provider agencies, the | 10 | | Department of
Human Services Office
of Inspector General, | 11 | | or public guardians: (i) upon subpoena by the investigatory | 12 | | entity or the guardian, or (ii) if there is suspicion by | 13 | | the credit union that a
member who is an elderly person or | 14 | | person with a disability has been or may become the victim | 15 | | of financial exploitation.
For the purposes of this
item | 16 | | (13), the term: (i) "elderly person" means a person who is | 17 | | 60 or more
years of age, (ii) "person with a disability" | 18 | | means a person who has or reasonably appears to the credit | 19 | | union to
have a physical or mental
disability that impairs | 20 | | his or her ability to seek or obtain protection from or
| 21 | | prevent financial
exploitation, and (iii) "financial | 22 | | exploitation" means tortious or illegal use
of the assets | 23 | | or resources of
an elderly person or person with a | 24 | | disability, and includes, without limitation,
| 25 | | misappropriation of the elderly or
disabled person's | 26 | | assets or resources by undue influence, breach of fiduciary
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| 1 | | relationship, intimidation,
fraud, deception, extortion, | 2 | | or the use of assets or resources in any manner
contrary to | 3 | | law. A credit
union or person furnishing information | 4 | | pursuant to this item (13) shall be
entitled to the same | 5 | | rights and
protections as a person furnishing information | 6 | | under the Adult Protective Services Act and the Illinois
| 7 | | Domestic Violence Act of 1986.
| 8 | | (14) The disclosure of financial records or | 9 | | information as necessary
to
effect, administer, or enforce | 10 | | a transaction requested or authorized by the
member, or in | 11 | | connection with:
| 12 | | (A) servicing or processing a financial product or | 13 | | service requested
or
authorized by the member;
| 14 | | (B) maintaining or servicing a member's account | 15 | | with the credit union;
or
| 16 | | (C) a proposed or actual securitization or | 17 | | secondary market sale
(including sales of servicing | 18 | | rights) related to a
transaction of a member.
| 19 | | Nothing in this item (14), however, authorizes the sale | 20 | | of the financial
records or information of a member without | 21 | | the consent of the member.
| 22 | | (15) The disclosure of financial records or | 23 | | information as necessary to
protect against or prevent | 24 | | actual or potential fraud, unauthorized
transactions, | 25 | | claims, or other liability.
| 26 | | (16)(a) The disclosure of financial records or |
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| 1 | | information
related to a private label credit program | 2 | | between a financial
institution and a private label party | 3 | | in connection
with that private label credit program. Such | 4 | | information
is limited to outstanding balance, available | 5 | | credit, payment and
performance and account history, | 6 | | product references, purchase
information,
and information | 7 | | related to the identity of the
customer.
| 8 | | (b)(1) For purposes of this paragraph (16) of | 9 | | subsection
(b) of Section 10, a "private label credit | 10 | | program" means a credit
program involving a financial | 11 | | institution and a private label party
that is used by a | 12 | | customer of the financial institution and the
private label | 13 | | party primarily for payment for goods or services
sold, | 14 | | manufactured, or distributed by a private label party.
| 15 | | (2) For purposes of this paragraph (16) of subsection | 16 | | (b)
of Section 10, a "private label party" means, with | 17 | | respect to a
private label credit program, any of the | 18 | | following: a
retailer, a merchant, a manufacturer, a trade | 19 | | group,
or any such person's affiliate, subsidiary, member,
| 20 | | agent, or service provider.
| 21 | | (17)(a) The furnishing of financial records of a member | 22 | | to the Department to aid the Department's initial | 23 | | determination or subsequent re-determination of the | 24 | | member's eligibility for Medicaid and Medicaid long-term | 25 | | care benefits for long-term care services, provided that | 26 | | the credit union receives the written consent and |
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| 1 | | authorization of the member, which shall: | 2 | | (1) have the member's signature notarized; | 3 | | (2) be signed by at least one witness who certifies | 4 | | that he or she believes the member to be of sound mind | 5 | | and memory; | 6 | | (3) be tendered to the credit union at the earliest | 7 | | practicable time following its execution, | 8 | | certification, and notarization; | 9 | | (4) specifically limit the disclosure of the | 10 | | member's financial records to the Department; and | 11 | | (5) be in substantially the following form: | 12 | | CUSTOMER CONSENT AND AUTHORIZATION | 13 | | FOR RELEASE OF FINANCIAL RECORDS | 14 | | I, ......................................., hereby authorize | 15 | | (Name of Customer) | 16 | | ............................................................. | 17 | | (Name of Financial Institution) | 18 | | ............................................................. | 19 | | (Address of Financial Institution) | 20 | | to disclose the following financial records: |
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| 1 | | any and all information concerning my deposit, savings, money | 2 | | market, certificate of deposit, individual retirement, | 3 | | retirement plan, 401(k) plan, incentive plan, employee benefit | 4 | | plan, mutual fund and loan accounts (including, but not limited | 5 | | to, any indebtedness or obligation for which I am a | 6 | | co-borrower, co-obligor, guarantor, or surety), and any and all | 7 | | other accounts in which I have an interest and any other | 8 | | information regarding me in the possession of the Financial | 9 | | Institution, | 10 | | to the Illinois Department of Human Services or the Illinois | 11 | | Department of Healthcare and Family Services, or both ("the | 12 | | Department"), for the following purpose(s): | 13 | | to aid in the initial determination or re-determination by the | 14 | | State of Illinois of my eligibility for Medicaid long-term care | 15 | | benefits, pursuant to applicable law. | 16 | | I understand that this Consent and Authorization may be revoked | 17 | | by me in writing at any time before my financial records, as | 18 | | described above, are disclosed, and that this Consent and | 19 | | Authorization is valid until the Financial Institution | 20 | | receives my written revocation. This Consent and Authorization | 21 | | shall constitute valid authorization for the Department | 22 | | identified above to inspect all such financial records set | 23 | | forth above, and to request and receive copies of such |
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| 1 | | financial records from the Financial Institution (subject to | 2 | | such records search and reproduction reimbursement policies as | 3 | | the Financial Institution may have in place). An executed copy | 4 | | of this Consent and Authorization shall be sufficient and as | 5 | | good as the original and permission is hereby granted to honor | 6 | | a photostatic or electronic copy of this Consent and | 7 | | Authorization. Disclosure is strictly limited to the | 8 | | Department identified above and no other person or entity shall | 9 | | receive my financial records pursuant to this Consent and | 10 | | Authorization. By signing this form, I agree to indemnify and | 11 | | hold the Financial Institution harmless from any and all | 12 | | claims, demands, and losses, including reasonable attorneys | 13 | | fees and expenses, arising from or incurred in its reliance on | 14 | | this Consent and Authorization. As used herein, "Customer" | 15 | | shall mean "Member" if the Financial Institution is a credit | 16 | | union. | 17 | | ....................... ...................... | 18 | | (Date) (Signature of Customer) | 19 | | ...................... | 20 | | ...................... | 21 | | (Address of Customer) | 22 | | ...................... | 23 | | (Customer's birth date) |
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| 1 | | (month/day/year) | 2 | | The undersigned witness certifies that ................., | 3 | | known to me to be the same person whose name is subscribed as | 4 | | the customer to the foregoing Consent and Authorization, | 5 | | appeared before me and the notary public and acknowledged | 6 | | signing and delivering the instrument as his or her free and | 7 | | voluntary act for the uses and purposes therein set forth. I | 8 | | believe him or her to be of sound mind and memory. The | 9 | | undersigned witness also certifies that the witness is not an | 10 | | owner, operator, or relative of an owner or operator of a | 11 | | long-term care facility in which the customer is a patient or | 12 | | resident. | 13 | | Dated: ................. ...................... | 14 | | (Signature of Witness) | 15 | | ...................... | 16 | | (Print Name of Witness) | 17 | | ...................... | 18 | | ...................... | 19 | | (Address of Witness) | 20 | | State of Illinois) | 21 | | ) ss. |
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| 1 | | County of .......) | 2 | | The undersigned, a notary public in and for the above county | 3 | | and state, certifies that .........., known to me to be the | 4 | | same person whose name is subscribed as the customer to the | 5 | | foregoing Consent and Authorization, appeared before me | 6 | | together with the witness, .........., in person and | 7 | | acknowledged signing and delivering the instrument as the free | 8 | | and voluntary act of the customer for the uses and purposes | 9 | | therein set forth. | 10 | | Dated: ....................................................... | 11 | | Notary Public: ............................................... | 12 | | My commission expires: ....................................... | 13 | | (b) In no event shall the credit union distribute the | 14 | | member's financial records to the long-term care facility | 15 | | from which the member seeks initial or continuing residency | 16 | | or long-term care services. | 17 | | (c) A credit union providing financial records of a | 18 | | member in good faith relying on a consent and authorization | 19 | | executed and tendered in accordance with this subparagraph | 20 | | (17) shall not be liable to the member or any other person | 21 | | in relation to the credit union's disclosure of the | 22 | | member's financial records to the Department. The member | 23 | | signing the consent and authorization shall indemnify and |
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| 1 | | hold the credit union harmless that relies in good faith | 2 | | upon the consent and authorization and incurs a loss | 3 | | because of such reliance. The credit union recovering under | 4 | | this indemnification provision shall also be entitled to | 5 | | reasonable attorney's fees and the expenses of recovery. | 6 | | (d) A credit union shall be reimbursed by the member | 7 | | for all costs reasonably necessary and directly incurred in | 8 | | searching for, reproducing, and disclosing a member's | 9 | | financial records required or requested to be produced | 10 | | pursuant to any consent and authorization executed under | 11 | | this subparagraph (17). The requested financial records | 12 | | shall be delivered to the Department within 10 days after | 13 | | receiving a properly executed consent and authorization or | 14 | | at the earliest practicable time thereafter if the | 15 | | requested records cannot be delivered within 10 days, but | 16 | | delivery may be delayed until the final reimbursement of | 17 | | all costs is received by the credit union. The credit union | 18 | | may honor a photostatic or electronic copy of a properly | 19 | | executed consent and authorization. | 20 | | (e) Nothing in this subparagraph (17) shall impair, | 21 | | abridge, or abrogate the right of a member to: | 22 | | (1) directly disclose his or her financial records | 23 | | to the Department or any other person; or | 24 | | (2) authorize his or her attorney or duly appointed | 25 | | agent to request and obtain the member's financial | 26 | | records and disclose those financial records to the |
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| 1 | | Department. | 2 | | (f) For purposes of this subparagraph (17), | 3 | | "Department" means the Department of Human Services and the | 4 | | Department of Healthcare and Family Services or any | 5 | | successor administrative agency of either agency.
| 6 | | (c) Except as otherwise provided by this Act, a credit | 7 | | union may not
disclose to any person, except to the member
or | 8 | | his duly authorized agent, any financial records relating to | 9 | | that member
of the credit union unless:
| 10 | | (1) the member has authorized disclosure to the person;
| 11 | | (2) the financial records are disclosed in response to | 12 | | a lawful
subpoena,
summons, warrant, citation to discover | 13 | | assets, or court order that meets the requirements of | 14 | | subparagraph
(d) of this Section; or
| 15 | | (3) the credit union is attempting to collect an | 16 | | obligation owed to
the credit union and the credit union | 17 | | complies with the provisions of
Section 2I of the Consumer | 18 | | Fraud and Deceptive Business Practices Act.
| 19 | | (d) A credit union shall disclose financial records under | 20 | | subparagraph
(c)(2) of this Section pursuant to a lawful | 21 | | subpoena, summons, warrant, citation to discover assets, or
| 22 | | court order only after the credit union mails a copy of the | 23 | | subpoena, summons,
warrant, citation to discover assets, or | 24 | | court order to the person establishing the relationship with
| 25 | | the credit union, if living, and otherwise his personal | 26 | | representative,
if known, at his last known address by first |
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| 1 | | class mail, postage prepaid
unless the credit union is | 2 | | specifically prohibited from notifying the person
by order of | 3 | | court or by applicable State or federal law. In the case
of a | 4 | | grand jury subpoena, a credit union shall not mail a copy of a | 5 | | subpoena
to any person pursuant to this subsection if the | 6 | | subpoena was issued by a grand
jury under the Statewide Grand | 7 | | Jury Act or notifying the
person would constitute a violation | 8 | | of the federal Right to Financial
Privacy Act of 1978.
| 9 | | (e)(1) Any officer or employee of a credit union who | 10 | | knowingly and
wilfully furnishes financial records in | 11 | | violation of this Section is guilty of
a business offense and | 12 | | upon conviction thereof shall be fined not more than
$1,000.
| 13 | | (2) Any person who knowingly and wilfully induces or | 14 | | attempts to induce
any officer or employee of a credit union to | 15 | | disclose financial records
in violation of this Section is | 16 | | guilty of a business offense and upon
conviction thereof shall | 17 | | be fined not more than $1,000.
| 18 | | (f) A credit union shall be reimbursed for costs which are | 19 | | reasonably
necessary and which have been directly incurred in | 20 | | searching for,
reproducing or transporting books, papers, | 21 | | records or other data of a
member required or requested to be | 22 | | produced pursuant to a lawful subpoena,
summons, warrant, | 23 | | citation to discover assets, or court order. The Secretary and | 24 | | the Director may determine, by rule, the
rates and
conditions | 25 | | under which payment shall be made. Delivery of requested | 26 | | documents
may be delayed until final reimbursement of all costs |
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| 1 | | is received.
| 2 | | (Source: P.A. 99-143, eff. 7-27-15; 100-22, eff. 1-1-18 .)
| 3 | | Section 99. Effective date. This Act takes effect January | 4 | | 1, 2019.
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