91st General Assembly
Summary of SB0378
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Short description: 
SAVINGS BNK-LOAN FIDUCIARY                                                 

Synopsis of Bill as introduced:
        Amends the Illinois Savings and Loan  Act  of  1985.   Authorizes      
   savings  and  loan  associations  to  act  as  a custodian or trustee.      
   Provides that the Commissioner of Banks  and  Real  Estate  may  defer      
   taking  control  of  a savings and loan association if it is resolving      
   the matter in accordance with the direction of its  deposit  insurance      
   corporation.   Amends  the Savings Bank Act.  Removes the authority of      
   the Commissioner of Banks and Real Estate to approve the location  and      
   operation   of   electronic   fund   transfer  terminals.   Authorizes      
   alternative voting arrangements for mutual  savings  banks.   Provides      
   that  receipt  of certain notices may be waived by the person entitled      
   to receive the notice.  Authorizes savings banks  to  convert  to  any      
   type  of  depository institution.  Amends the Corporate Fiduciary Act.      
   Incorporates  references  to  savings  banks   throughout   the   Act.      
   Effective immediately.                                                      
          FISCAL NOTE (Office of Banks and Real Estate)                        
          There will be no fiscal impact on this Department.                   
Last action on Bill: PUBLIC ACT.............................. 91-0097

   Last action date: 99-07-09

           Location: Senate

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


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