90th General Assembly
Summary of HB1656
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House Sponsors:

Short description: 
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

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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