House Sponsors: BUGIELSKI-MEYER-CAPPARELLI-BIGGINS-BURKE AND SHARP. Senate Sponsors: O'MALLEY-REA Short description: BANKING ON ILLINOIS ACT Synopsis of Bill as introduced: Creates the Banking on Illinois Act. Declares that laws regulating banks in Illinois should be liberally construed to encourage the chartering and operating of financial institutions that locate and maintain their main banking premises in Illinois. Amends the Illinois Banking Act to provide that the provisions of the Illinois Business Corporation Act of 1983 may be relied upon for guidance in matters of corporate governance not controlled by the Illinois Banking Act. Provides that banks may offer any product offered by an out-of-state bank. Provides that the establishment of account service charges is a business decision to be made by a bank. Provides that financial statements customers provide to banks are confidential. Effective immediately. FISCAL NOTE (Department of Financial Institutions) There would be no fiscal impact on the Department. Last action on Bill: PUBLIC ACT.............................. 91-0330 Last action date: 99-07-29 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status