90th General Assembly
Summary of HB2169
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Senate Sponsors:

Short description: 
BANKS CHANGE IN CONTROL                                                    

Synopsis of Bill as introduced:
        Amends the Illinois Banking Act to prohibit a change  in  control      
   if the persons seeking control would, after obtaining control, control      
   30%  or  more  of the deposits located in this State. Provides that no      
   state or national bank whose main  banking  premises  are  located  in      
   another  state  may  merge  into  or acquire an Illinois bank that has      
   operated as a bank for 5 years  or  less.  Amends  the  Illinois  Bank      
   Holding  Company  Act  of 1957 to restrict mergers with Illinois banks      
   that have operated for 5 years or less and are controlled by an out of      
   State bank. Prohibits combinations that would result in control of 30%      
   or more of the deposits in Illinois. Effective June 1, 1997.                
          FISCAL NOTE (Office of Banks & Real Estate)                          
          HB 2169 should create little or no fiscal impact for this Dept.      
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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