State of Illinois
90th General Assembly
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[ Introduced ][ Enrolled ][ Senate Amendment 001 ]

90_HB0586eng

      205 ILCS 5/3              from Ch. 17, par. 309
          Amends the  Illinois  Banking  Act.   Makes  a  technical
      change in a Section relating to formation and powers.
                                                     LRB9002584JSfg
HB0586 Engrossed                               LRB9002584JSfg
 1        AN  ACT  to  amend  the  Illinois Banking Act by changing
 2    Section 3.
 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:
 5        Section  5.   The  Illinois  Banking  Act  is  amended by
 6    changing Section 3 as follows:
 7        (205 ILCS 5/3) (from Ch. 17, par. 309)
 8        Sec. 3. Formation and primary  powers.  It  is  shall  be
 9    lawful  to form banks, as herein provided, for the purpose of
10    discount and deposit, buying and selling exchange and doing a
11    general banking business, excepting the issuing of  bills  to
12    circulate  as  money;  and such banks shall have the power to
13    loan money on personal  and  real  estate  security,  and  to
14    accept  and  execute  trusts  upon obtaining a certificate of
15    authority pursuant to  the  "Corporate  Fiduciary  Act",  and
16    shall be subject to all of the provisions of this Act.
17    (Source: P.A. 85-1402.)

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