92nd General Assembly
Summary of HB1030
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House Sponsors:
PERSICO-BUGIELSKI-HASSERT-NOVAK-OSMOND.

Senate Sponsors:
O'MALLEY

Short description: 
BANKING ACT NAME-INFORMATION                                               

Synopsis of Bill as introduced:
        Amends the Illinois Banking Act.  Provides that information in an      
   application for a permit to  organize  a  bank  that  is  personal  or      
   proprietary,  including  names of proposed management and net worth of      
   applicants, may be submitted in a confidential section of or  addendum      
   to  the  application.  Prohibits the use of a name of an existing bank      
   or a name deceptively  similar  to  that  of  an  existing  bank  when      
   soliciting customers.  Effective immediately.                               
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          205 ILCS 5/9                                                         
          Adds reference to:                                                   
          205 ILCS 5/16                   from Ch. 17, par. 323                
        Amends the Illinois Banking Act.  Provides  that  in  discharging      
   their  duties,  bank directors are entitled to rely in good faith upon      
   advice  from  officers,  employees,  and   other   persons.    Deletes      
   provisions concerning confidentiality of information in an application      
   for a permit to organize a bank.                                            
 
Last action on Bill: PUBLIC ACT.............................. 92-0476

   Last action date: AUG-23-2001

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


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