Senate Sponsors: WALSH,T. House Sponsors: PERSICO Short description: BANK RESTRICT-INS-SURPLUS Synopsis of Bill as introduced: Amends the Illinois Banking Act. Provides that a corporation with banking powers that avails itself of or accepts the benefits of the Illinois Banking Act and that all corporations with banking powers by virtue of any special charter or general Illinois law are subject to the restrictions, rather than the provisions, of the Illinois Banking Act. Provides that banks do not have to report an amount for reserves for operating expenses. Provides that banks chartered after November 1, 1985 and certain out-of-state banks that merge with an Illinois bank or establish a branch in this State that accept de- posits, or are authorized to accept deposits, must obtain federal de- posit insurance. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status