State of Illinois
91st General Assembly

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HB2204 Enrolled                               LRB9105133JSpcA

 1        AN   ACT   concerning   the   regulation   of   financial
 2    institutions, amending a named Act.

 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:

 5        Section  1.  Short  title.   This Act may be cited as the
 6    Banking on Illinois Act.

 7        Section 5.  Findings and  declarations  of  policy.   The
 8    General Assembly hereby finds and declares:
 9             (1)  that  the economic strength and general welfare
10        of  Illinois  depends  on  a  strong,   profitable,   and
11        competitive banking industry in this State that preserves
12        and  creates  employment,  increases credit availability,
13        attracts capital, and expands the savings  base  for  the
14        citizens of this State;
15             (2)  that  the removal of geographic restrictions in
16        the federal banking laws and in the laws of the 50 states
17        has given rise to a substantial number of  newly  created
18        community banks and interstate bank mergers requiring the
19        selection of main office locations and relocations;
20             (3)  that  by  ensuring  a favorable environment for
21        banks to commence and operate their businesses from  this
22        State,  more  newly  created  community banks and merging
23        banks  will  choose   to   maintain   or   retain   their
24        headquarters  in  and relocate their main banking offices
25        to Illinois; and
26             (4)  that preserving and increasing  the  number  of
27        bank   headquarters   and  main  banking  offices  within
28        Illinois   will   substantially    increase    employment
29        opportunities,    credit    availability,   and   capital
30        investment in this State, while strengthening the savings
31        base  of  this  State,  thereby   providing   significant
HB2204 Enrolled             -2-               LRB9105133JSpcA
 1        benefits  to  all  Illinois  citizens,  to commercial and
 2        agricultural businesses of all sizes in this  State,  and
 3        to  all  local  governments and political subdivisions of
 4        this State.

 5        Section 10.  Purpose.  The purpose  of  this  Act  is  to
 6    encourage and provide a favorable environment in Illinois for
 7    the  chartering  and  operating  of  banks  that  locate  and
 8    maintain main banking offices in this State.

 9        Section 15.  Application of Illinois law.
10        (a)  To further the purpose and policies of this Act, the
11    provisions   of   the   following  Acts  shall  be  liberally
12    construed:
13             (1)  the Illinois Banking Act; and
14             (2)  the Foreign Banking Office Act.
15        (b)  Subsection (a) of this Section shall not be  applied
16    in  a  manner  that  will  adversely  affect  the  safety and
17    soundness of a bank.

18        Section 95.  The  Illinois  Banking  Act  is  amended  by
19    changing Sections 5, 5e, and 48.1 as follows:

20        (205 ILCS 5/5) (from Ch. 17, par. 311)
21        Sec.  5.  General  corporate  powers.   A  bank organized
22    under this Act or subject hereto shall be  a  body  corporate
23    and  politic  and  shall, without specific mention thereof in
24    the charter, have all the powers conferred by  this  Act  and
25    the following additional general corporate powers:
26        (1)  To  sue  and  be  sued,  complain, and defend in its
27    corporate name.
28        (2)  To have a corporate seal, which may  be  altered  at
29    pleasure,  and  to  use the same by causing it or a facsimile
30    thereof  to  be  impressed  or  affixed  or  in  any   manner
HB2204 Enrolled             -3-               LRB9105133JSpcA
 1    reproduced, provided that the affixing of a corporate seal to
 2    an  instrument shall not give the instrument additional force
 3    or effect, or change the construction thereof, and the use of
 4    a corporate seal is not mandatory.
 5        (3)  To  make,  alter,  amend,  and  repeal  bylaws,  not
 6    inconsistent  with  its  charter  or  with   law,   for   the
 7    administration  of the affairs of the bank.  If this Act does
 8    not  provide  specific  guidance  in  matters  of   corporate
 9    governance, the provisions of the Business Corporation Act of
10    1983 may be used if so provided in the bylaws.
11        (4)  To  elect  or appoint and remove officers and agents
12    of  the  bank  and  define  their  duties   and   fix   their
13    compensation.
14        (5)  To   adopt   and  operate  reasonable  bonus  plans,
15    profit-sharing plans, stock-bonus plans, stock-option  plans,
16    pension  plans and similar incentive plans for its directors,
17    officers and employees.
18        (5.1)  To manage, operate and administer a fund  for  the
19    investment of funds by a public agency or agencies, including
20    any  unit  of  local  government  or  school district, or any
21    person.  The fund for a public agency  shall  invest  in  the
22    same   type  of  investments  and  be  subject  to  the  same
23    limitations provided for the investment of public funds.  The
24    fund for public agencies shall  maintain  a  separate  ledger
25    showing  the  amount  of investment for each public agency in
26    the fund. "Public funds" and "public agency" as used in  this
27    Section shall have the meanings ascribed to them in Section 1
28    of the Public Funds Investment Act.
29        (6)  To  make reasonable donations for the public welfare
30    or  for  charitable,  scientific,  religious  or  educational
31    purposes.
32        (7)  To borrow or incur an obligation; and to pledge  its
33    assets:
34             (a)  to secure its borrowings, its lease of personal
HB2204 Enrolled             -4-               LRB9105133JSpcA
 1        or real property or its other nondeposit obligations;
 2             (b)  to  enable  it  to act as agent for the sale of
 3        obligations of the United States;
 4             (c)  to secure  deposits  of  public  money  of  the
 5        United  States,  whenever  required  by  the  laws of the
 6        United  States,  including  without  being  limited   to,
 7        revenues and funds the deposit of which is subject to the
 8        control  or regulation of the United States or any of its
 9        officers, agents, or employees and Postal Savings funds;
10             (d)  to secure deposits of public money of any state
11        or of any political corporation  or  subdivision  thereof
12        including,  without  being limited to, revenues and funds
13        the deposit  of  which  is  subject  to  the  control  or
14        regulation  of  any state or of any political corporation
15        or subdivisions thereof or  of  any  of  their  officers,
16        agents, or employees;
17             (e)  to  secure  deposits of money whenever required
18        by the National Bankruptcy Act;
19             (f)  (blank); and
20             (g)  to  secure  trust  funds  commingled  with  the
21        bank's  funds,  whether  deposited  by  the  bank  or  an
22        affiliate of the bank, pursuant to  Section  2-8  of  the
23        Corporate Fiduciary Act.
24        (8)  To  own, possess, and carry as assets all or part of
25    the real estate necessary in or with which to do its  banking
26    business, either directly or indirectly through the ownership
27    of  all  or part of the capital stock, shares or interests in
28    any corporation, association, trust engaged  in  holding  any
29    part  or  parts  or all of the bank premises, engaged in such
30    business and in conducting a safe  deposit  business  in  the
31    premises or part of them, or engaged in any activity that the
32    bank  is  permitted  to  conduct  in a subsidiary pursuant to
33    paragraph (12) of this Section 5.
34        (9)  To own, possess, and  carry  as  assets  other  real
HB2204 Enrolled             -5-               LRB9105133JSpcA
 1    estate  to which it may obtain title in the collection of its
 2    debts or that was  formerly  used  as  a  part  of  the  bank
 3    premises,  but  title  to  any  real  estate except as herein
 4    permitted shall not be retained by the bank, either  directly
 5    or  by  or  through  a subsidiary, as permitted by subsection
 6    (12) of this Section for a total period of more than 10 years
 7    after acquiring title, either directly or indirectly.
 8        (10)  To do any act, including the acquisition of  stock,
 9    necessary  to  obtain  insurance  of  its  deposits,  or part
10    thereof, and any act necessary to obtain a guaranty, in whole
11    or in part, of any of its loans or investments by the  United
12    States  or  any agency thereof, and any act necessary to sell
13    or otherwise dispose of any of its loans  or  investments  to
14    the  United  States or any agency thereof, and to acquire and
15    hold membership in the Federal Reserve System.
16        (11)  Notwithstanding any other provisions of this Act or
17    any other law, to do any act and to own, possess,  and  carry
18    as assets property of the character, including stock, that is
19    at  the  time authorized or permitted to national banks by an
20    Act of Congress, but subject always to the  same  limitations
21    and  restrictions  as are applicable to national banks by the
22    pertinent federal law and subject to applicable provisions of
23    the Financial Institutions Insurance Sales Law.
24        (12)  To own, possess, and carry as assets stock  of  one
25    or  more corporations that is, or are, engaged in one or more
26    of the following businesses:
27             (a)  holding  title  to  and  administering   assets
28        acquired  as a result of the collection or liquidating of
29        loans, investments, or discounts; or
30             (b)  holding title  to  and  administering  personal
31        property  acquired  by  the  bank, directly or indirectly
32        through a subsidiary,  for  the  purpose  of  leasing  to
33        others,  provided  the lease or leases and the investment
34        of the bank, directly or through a  subsidiary,  in  that
HB2204 Enrolled             -6-               LRB9105133JSpcA
 1        personal  property  otherwise comply with Section 35.1 of
 2        this Act; or
 3             (c)  carrying  on  or  administering  any   of   the
 4        activities  excepting  the  receipt  of  deposits  or the
 5        payment of checks or other  orders  for  the  payment  of
 6        money  in  which  a  bank  may  engage in carrying on its
 7        general banking business; provided, however, that nothing
 8        contained in this paragraph (c) shall be deemed to permit
 9        a bank organized under this Act or subject hereto to  do,
10        either directly or indirectly through any subsidiary, any
11        act,  including  the making of any loan or investment, or
12        to own, possess, or carry as assets any property that  if
13        done by or owned, possessed, or carried by the State bank
14        would  be  in violation of or prohibited by any provision
15        of this Act.
16        The provisions of this subsection (12) shall not apply to
17    and shall not be deemed to limit the powers of a  State  bank
18    with  respect  to  the ownership, possession, and carrying of
19    stock that a State bank is  permitted  to  own,  possess,  or
20    carry under this Act.
21        Any  bank  intending to establish a subsidiary under this
22    subsection (12) shall give written notice to the Commissioner
23    60 days prior to the subsidiary's commencing of business  or,
24    as the case may be, prior to acquiring stock in a corporation
25    that  has  already  commenced  business.  After receiving the
26    notice, the Commissioner may waive or reduce the  balance  of
27    the  60  day notice period.  The Commissioner may specify the
28    form of the notice and may promulgate rules  and  regulations
29    to administer this subsection (12).
30        (13)  To   accept  for  payment  at  a  future  date  not
31    exceeding one year from the date of acceptance, drafts  drawn
32    upon  it  by  its customers; and to issue, advise, or confirm
33    letters of credit authorizing the  holders  thereof  to  draw
34    drafts upon it or its correspondents.
HB2204 Enrolled             -7-               LRB9105133JSpcA
 1        (14)  To  own and lease personal property acquired by the
 2    bank at the request of a  prospective  lessee  and  upon  the
 3    agreement  of  that  person  to  lease  the personal property
 4    provided that the lease, the agreement with respect  thereto,
 5    and  the amount of the investment of the bank in the property
 6    comply with Section 35.1 of this Act.
 7        (15) (a)  To establish and maintain, in addition  to  the
 8    main banking premises, branches offering any banking services
 9    permitted at the main banking premises of a State bank.
10        (b)  To  establish  and  maintain,  after  May  31, 1997,
11    branches in another state that may conduct  any  activity  in
12    that  state that is authorized or permitted for any bank that
13    has a banking charter issued by that state,  subject  to  the
14    same  limitations  and  restrictions  that  are applicable to
15    banks chartered by that state.
16        (16)  (Blank).
17        (17)  To establish and maintain terminals, as  authorized
18    by the Electronic Fund Transfer Act.
19        (18)  To  establish and maintain temporary service booths
20    at any  International  Fair  held  in  this  State  which  is
21    approved by the United States Department of Commerce, for the
22    duration  of  the  international fair for the sole purpose of
23    providing a convenient place for foreign trade  customers  at
24    the  fair  to  exchange  their  home countries' currency into
25    United States currency or the converse. This power shall  not
26    be  construed  as  establishing  a  new  place  or  change of
27    location for the bank providing the service booth.
28        (19)  To indemnify its  officers,  directors,  employees,
29    and agents, as authorized for corporations under Section 8.75
30    of the Business Corporation Act of 1983.
31        (20)  To  own,  possess, and carry as assets stock of, or
32    be or become a member of, any  corporation,  mutual  company,
33    association,  trust,  or  other entity formed exclusively for
34    the purpose of providing directors' and  officers'  liability
HB2204 Enrolled             -8-               LRB9105133JSpcA
 1    and bankers' blanket bond insurance or reinsurance to and for
 2    the  benefit  of the stockholders, members, or beneficiaries,
 3    or their assets or businesses, or their officers,  directors,
 4    employees,  or  agents,  and not to or for the benefit of any
 5    other person or entity or the public generally.
 6        (21)  To make debt or equity investments in  corporations
 7    or  projects,  whether for profit or not for profit, designed
 8    to promote the development of the community and its  welfare,
 9    provided  that  the  aggregate  investment  in  all  of these
10    corporations and in all of these projects does not exceed 10%
11    of the unimpaired capital and unimpaired surplus of the  bank
12    and   provided  that  this  limitation  shall  not  apply  to
13    creditworthy loans by  the  bank  to  those  corporations  or
14    projects.   Upon  written  application to the Commissioner, a
15    bank may make an investment that would, when aggregated  with
16    all  other  such  investments,  exceed  10% of the unimpaired
17    capital and unimpaired surplus of the bank. The  Commissioner
18    may  approve the investment if he is of the opinion and finds
19    that the proposed investment will not have a material adverse
20    effect on the safety and soundness of the bank.
21        (22)  To own, possess, and carry as assets the stock of a
22    corporation engaged in the ownership or operation of a travel
23    agency or to operate  a  travel  agency  as  a  part  of  its
24    business, provided that the bank either owned, possessed, and
25    carried as assets the stock of such a corporation or operated
26    a travel agency as part of its business before July 1, 1991.
27        (23)  With respect to affiliate facilities:
28             (a)  to  conduct  at affiliate facilities any of the
29        following transactions  for  and  on  behalf  of  another
30        commonly  owned bank, if so authorized by the other bank:
31        receiving deposits; cashing and issuing  checks,  drafts,
32        and  money orders; changing money; and receiving payments
33        on existing indebtedness; and
34             (b)  to authorize a commonly owned bank  to  conduct
HB2204 Enrolled             -9-               LRB9105133JSpcA
 1        for and on behalf of it any of the transactions listed in
 2        this paragraph (23) at one or more affiliate facilities.
 3        Any  bank intending to conduct or to authorize a commonly
 4    owned bank to conduct at an affiliate  facility  any  of  the
 5    transactions  specified  in  this  paragraph  (23) shall give
 6    written notice to the Commissioner at least  30  days  before
 7    any such transaction is conducted at the affiliate facility.
 8        (24)  To  act  as  the agent for any fire, life, or other
 9    insurance company authorized by the  State  of  Illinois,  by
10    soliciting  and  selling insurance and collecting premiums on
11    policies issued by such company; and to receive for  services
12    so  rendered  such  fees or commissions as may be agreed upon
13    between the bank and the insurance company for which  it  may
14    act  as  agent; provided, however, that no such bank shall in
15    any case assume or guarantee the payment of  any  premium  on
16    insurance   policies   issued   through  its  agency  by  its
17    principal; and provided further,  that  the  bank  shall  not
18    guarantee  the  truth  of any statement made by an assured in
19    filing his application for insurance.
20        (25)  Notwithstanding any other provisions of this Act or
21    any other law, to offer any product or service that is at the
22    time  authorized  or  permitted  to   any   insured   savings
23    association  or out-of-state bank by applicable law, provided
24    that powers conferred only by this subsection (25):
25             (a)  shall always be subject to the same limitations
26        and restrictions  that  are  applicable  to  the  insured
27        savings  association or out-of-state bank for the product
28        or service by such applicable law;
29             (b)  shall be subject to  applicable  provisions  of
30        the Financial Institutions Insurance Sales Law;
31             (c)  shall not include the right to own or conduct a
32        real  estate brokerage business for which a license would
33        be required under the laws of this State; and
34             (d)  shall  not  be   construed   to   include   the
HB2204 Enrolled             -10-              LRB9105133JSpcA
 1        establishment  or maintenance of a branch, nor shall they
 2        be construed to limit the establishment or maintenance of
 3        a branch pursuant to subsection (11).
 4    (Source: P.A. 89-208,  eff.  9-29-95;  89-310,  eff.  1-1-96;
 5    89-364,  eff.  8-18-95;  89-626,  eff.  8-9-96;  90-41,  eff.
 6    10-1-97;  90-301,  eff. 8-1-97; 90-655, eff. 7-30-98; 90-665,
 7    eff. 7-30-98.)

 8        (205 ILCS 5/5e)
 9        Sec. 5e.  Lending and account authority.
10        (a)  Notwithstanding the provisions of any other  law  in
11    connection  with extensions of credit, a State bank may elect
12    to contract for and receive interest, fees, and other charges
13    for extensions of credit subject only to  the  provisions  of
14    subsection  (1)  of Section 4 of the Interest Act, except for
15    extensions of credit  secured  by  residential  real  estate,
16    which shall be subject to the laws applicable thereto.
17        (b)  The establishment of account service charges and the
18    amounts of the charges not otherwise limited or prescribed by
19    law  is a business decision to be made by a bank according to
20    prudent  business  judgment  and  safe  and  sound  operating
21    standards.  In establishing account service charges, the bank
22    may consider, but is not limited to  considering,  the  costs
23    incurred by the bank, plus a profit margin, for providing the
24    service, the deterrence of misuse of the bank's services, the
25    establishment  of  the  competitive  position  of the bank in
26    accordance  with  the  bank's  marketing  strategy,  and  the
27    maintenance of the safety and soundness of the bank.
28    (Source: P.A. 89-603, eff. 8-2-96.)

29        (205 ILCS 5/48.1) (from Ch. 17, par. 360)
30        Sec. 48.1.  Customer financial records; confidentiality.
31        (a)  For the purpose of this Section, the term "financial
32    records" means any original, any copy, or any summary of:
HB2204 Enrolled             -11-              LRB9105133JSpcA
 1             (1)  a document granting signature authority over  a
 2        deposit or account;,
 3             (2)  a statement, ledger card or other record on any
 4        deposit  or  account,  which shows each transaction in or
 5        with respect to that account;,
 6             (3)  a check, draft or money order drawn on  a  bank
 7        or issued and payable by a bank;, or
 8             (4)  any    other    item   containing   information
 9        pertaining  to  any  relationship  established   in   the
10        ordinary  course  of a bank's business between a bank and
11        its customer, including  financial  statements  or  other
12        financial information provided by the customer.
13        (b)  This Section does not prohibit:
14             (1)  The   preparation,   examination,  handling  or
15        maintenance of any  financial  records  by  any  officer,
16        employee  or  agent  of  a  bank  having  custody  of the
17        records, or the examination of the records by a certified
18        public accountant engaged  by  the  bank  to  perform  an
19        independent audit.
20             (2)  The examination of any financial records by, or
21        the  furnishing  of  financial  records by a bank to, any
22        officer, employee or agent of  (i)  the  Commissioner  of
23        Banks  and  Real Estate, (ii) after May 31, 1997, a state
24        regulatory authority authorized to examine a branch of  a
25        State   bank   located   in   another  state,  (iii)  the
26        Comptroller of the Currency,  (iv)  the  Federal  Reserve
27        Board,  or  (v) the Federal Deposit Insurance Corporation
28        for use solely in  the  exercise  of  his  duties  as  an
29        officer, employee, or agent.
30             (3)  The   publication   of   data   furnished  from
31        financial records relating to customers  where  the  data
32        cannot  be  identified  to  any  particular  customer  or
33        account.
34             (4)  The making of reports or returns required under
HB2204 Enrolled             -12-              LRB9105133JSpcA
 1        Chapter 61 of the Internal Revenue Code of 1986.
 2             (5)  Furnishing  information concerning the dishonor
 3        of any negotiable instrument permitted  to  be  disclosed
 4        under the Uniform Commercial Code.
 5             (6)  The  exchange in the regular course of business
 6        of (i) credit information between a bank and other  banks
 7        or  financial  institutions  or  commercial  enterprises,
 8        directly  or  through a consumer reporting agency or (ii)
 9        financial records or information derived  from  financial
10        records  between  a  bank  and  other  banks or financial
11        institutions or commercial enterprises for the purpose of
12        conducting due diligence pursuant to a purchase  or  sale
13        involving the bank or assets or liabilities of the bank.
14             (7)  The    furnishing   of   information   to   the
15        appropriate law enforcement authorities  where  the  bank
16        reasonably believes it has been the victim of a crime.
17             (8)  The furnishing of information under the Uniform
18        Disposition of Unclaimed Property Act.
19             (9)  The   furnishing   of   information  under  the
20        Illinois Income Tax  Act  and  the  Illinois  Estate  and
21        Generation-Skipping Transfer Tax Act.
22             (10)  The   furnishing   of  information  under  the
23        federal Currency and Foreign Transactions  Reporting  Act
24        Title 31, United States Code, Section 1051 et seq.
25             (11)  The  furnishing of information under any other
26        statute that by its terms or by  regulations  promulgated
27        thereunder  requires  the disclosure of financial records
28        other than by subpoena, summons, warrant, or court order.
29             (12)  The  furnishing  of  information   about   the
30        existence  of  an  account  of  a  person  to  a judgment
31        creditor of that person who has made  a  written  request
32        for that information.
33             (13)  The exchange in the regular course of business
34        of information between commonly owned banks in connection
HB2204 Enrolled             -13-              LRB9105133JSpcA
 1        with  a  transaction  authorized  under paragraph (23) of
 2        Section 5 and conducted at an affiliate facility.
 3             (14)  The furnishing of  information  in  accordance
 4        with   the   federal  Personal  Responsibility  and  Work
 5        Opportunity Reconciliation Act of 1996. Any bank governed
 6        by this Act  shall  enter  into  an  agreement  for  data
 7        exchanges  with  a State agency provided the State agency
 8        pays to the bank a  reasonable  fee  not  to  exceed  its
 9        actual  cost  incurred.   A bank providing information in
10        accordance with this item shall  not  be  liable  to  any
11        account  holder  or  other  person  for any disclosure of
12        information  to  a  State  agency,  for  encumbering   or
13        surrendering any assets held by the bank in response to a
14        lien  or  order to withhold and deliver issued by a State
15        agency, or for any other action taken  pursuant  to  this
16        item, including individual or mechanical errors, provided
17        the  action  does  not  constitute  gross  negligence  or
18        willful  misconduct.  A  bank shall have no obligation to
19        hold, encumber, or surrender assets  until  it  has  been
20        served  with  a  subpoena,  summons,  warrant,  court  or
21        administrative order, lien, or levy.
22             (15)  The exchange in the regular course of business
23        of  information  between  a  bank  and any commonly owned
24        affiliate of the bank, subject to the provisions  of  the
25        Financial Institutions Insurance Sales Law.
26        (c)  Except as otherwise provided by this Act, a bank may
27    not  disclose  to  any  person, except to the customer or his
28    duly authorized agent, any  financial  records  or  financial
29    information  obtained from financial records relating to that
30    customer of that bank unless:
31             (1)  the customer has authorized disclosure  to  the
32        person;
33             (2)  the financial records are disclosed in response
34        to  a  lawful  subpoena,  summons, warrant or court order
HB2204 Enrolled             -14-              LRB9105133JSpcA
 1        which meets the requirements of subsection  (d)  of  this
 2        Section; or
 3             (3)  the bank is attempting to collect an obligation
 4        owed   to  the  bank  and  the  bank  complies  with  the
 5        provisions of  Section  2I  of  the  Consumer  Fraud  and
 6        Deceptive Business Practices Act.
 7        (d)  A   bank  shall  disclose  financial  records  under
 8    paragraph (2) of subsection  (c)  of  this  Section  under  a
 9    lawful  subpoena, summons, warrant, or court order only after
10    the bank mails a copy of the subpoena, summons,  warrant,  or
11    court  order to the person establishing the relationship with
12    the  bank,   if   living,   and,   otherwise   his   personal
13    representative,  if known, at his last known address by first
14    class mail, postage prepaid, unless the bank is  specifically
15    prohibited  from notifying the person by order of court or by
16    applicable State or federal law.  A bank  shall  not  mail  a
17    copy  of a subpoena to any person pursuant to this subsection
18    if the  subpoena  was  issued  by  a  grand  jury  under  the
19    Statewide Grand Jury Act.
20        (e)  Any  officer or employee of a bank who knowingly and
21    willfully furnishes financial records in  violation  of  this
22    Section is guilty of a business offense and, upon conviction,
23    shall be fined not more than $1,000.
24        (f)  Any  person  who  knowingly and willfully induces or
25    attempts to induce any officer  or  employee  of  a  bank  to
26    disclose  financial  records  in violation of this Section is
27    guilty of a business offense and, upon conviction,  shall  be
28    fined not more than $1,000.
29        (g)  A  bank  shall  be  reimbursed  for  costs  that are
30    reasonably necessary and that have been directly incurred  in
31    searching  for,  reproducing,  or transporting books, papers,
32    records, or other data of a customer required or requested to
33    be produced pursuant to a lawful subpoena, summons,  warrant,
34    or  court  order.  The Commissioner shall determine the rates
HB2204 Enrolled             -15-              LRB9105133JSpcA
 1    and conditions under which payment may be made.
 2    (Source: P.A. 89-208, eff.  9-29-95;  89-364,  eff.  8-18-95;
 3    89-508, eff. 7-3-96; 89-626, eff. 8-9-96; 90-18, eff. 7-1-97;
 4    90-665, eff. 7-30-98.)

 5        Section  99.  Effective date.  This Act takes effect upon
 6    becoming law.

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