SAVINGS BNK DIRECTORS-INVEST
Synopsis of Bill as introduced:
Amends the Savings Bank Act. Provides that a savings bank may
establish a maximum age for directors. Requires that only a majority
(now two-thirds) of the directors be residents of Illinois. Allows
directors to consider the effects actions will have on customers,
suppliers, and communities when considering mergers and other
transactions. Removes limits on certain business, commercial, or
agricultural loans and other investments. Effective immediately.
FISCAL NOTE (Dpt. Financial Institutions)
There would be no fiscal impact on the Department.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status