Illinois General Assembly - Full Text of Public Act 093-0271
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Public Act 093-0271


 

Public Act 93-0271 of the 93rd General Assembly


Public Act 93-0271

HB3663 Enrolled                      LRB093 09178 JLS 09410 b

    AN ACT concerning financial institutions.

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

    Section  5.  The Illinois Savings and Loan Act of 1985 is
amended by changing Sections 1-10.10, 1-10.16, 1-10.19, 1-11,
2-1, 3-8, 4-2, 7-6, 7-7, 7-9, 7-11, and 7-23 as follows:

    (205 ILCS 105/1-10.10) (from Ch. 17, par. 3301-10.10)
    Sec.  1-10.10.  "Insurance  corporation":   The   Federal
Savings  and  Loan Insurance Corporation, the Federal Deposit
Insurance Corporation or such  other  instrumentality  of  or
corporation  chartered  by  and  backed by the full faith and
credit of the United States.
(Source: P.A. 86-137.)

    (205 ILCS 105/1-10.16) (from Ch. 17, par. 3301-10.16)
    Sec. 1-10.16.  "Profits": gross income less the aggregate
of  operating  and  real  estate  expenses,  losses  actually
sustained and not charged to reserves under the provision  of
this   Act,  interest  paid  or  accrued  on  borrowings  and
non-recurring  charges  as  determined  by   application   of
generally   accepted   accounting  principles  or  regulatory
accounting principles permitted, recognized or authorized  by
the Office of Thrift Supervision Federal Home Loan Bank Board
for  a  federal  association  and  subject  to  the rules and
regulations of the Commissioner.
(Source: P.A. 84-543.)

    (205 ILCS 105/1-10.19) (from Ch. 17, par. 3301-10.19)
    Sec. 1-10.19.  "Total assets": the  total  value  of  all
loan  contracts without deduction for the withdrawal value of
any capital accounts of the association  held  as  collateral
for  loans,  and  the  total value of all other assets of the
association, as determined by the  application  of  generally
accepted   accounting  principles  or  regulatory  accounting
principles permitted, recognized or authorized by the  Office
of  Thrift  Supervision  Federal  Home  Loan Bank Board for a
federal association and subject to the rules and  regulations
of the Commissioner.
(Source: P.A. 84-543.)

    (205 ILCS 105/1-11) (from Ch. 17, par. 3301-11)
    Sec.   1-11.  Insurance   of   withdrawable  capital.  An
association  operating  under  this  Act  shall  obtain   and
maintain  insurance of the association's withdrawable capital
by an insurance corporation as defined  in  this  Act  in  an
amount at least equal to that provided by the Federal Savings
and Loan Insurance Corporation, except that such insurance of
accounts  is  not  required in cases where the association is
employer-sponsored, does not occupy a ground floor  location,
does not seek business from the general public by advertising
or  otherwise  and  primarily  serves  the  employees  of the
employer which sponsors the association or the employees of a
wholly-owned subsidiary of the employer. In  the  event  that
the  insurance  of  accounts is not required by this Section,
the  Commissioner  may  adjust  the  bond  requirements   for
officers, directors and employees of such association, but in
no  case  shall  the  adjusted  bond  be required to be in an
amount greater than  twice  that  which  would  otherwise  be
required.
(Source: P.A. 84-543.)

    (205 ILCS 105/2-1) (from Ch. 17, par. 3302-1)
    Sec. 2-1.  Applicants and initial capital.  Any 5 or more
adult  individuals,  residents of this State, may apply for a
permit to  organize  an  association  under  this  Act.   The
minimum  initial capital which an association must have shall
be determined by the Commissioner but in  no  case  shall  be
less  than  that  which  would be required in order to obtain
insurance of accounts backed by the full faith and credit  of
the  United States government by the Federal Savings and Loan
Insurance Corporation.
(Source: P.A. 84-543.)

    (205 ILCS 105/3-8) (from Ch. 17, par. 3303-8)
    Sec. 3-8.  Access to  books  and  records;  communication
with members.
    (a)  Every  member  or  holder  of capital shall have the
right to inspect the books and  records  of  the  association
that   pertain  to  his  account.  Otherwise,  the  right  of
inspection and examination of the books and records shall  be
limited  as  provided  in this Act, and no other person shall
have access to the books and records or shall be entitled  to
a list of the members.
    (b)  For the purpose of this Section, the term "financial
records"  means any original, any copy, or any summary of (i)
a document granting signature authority  over  a  deposit  or
account;  (ii)  a  statement, ledger card, or other record on
any deposit or account that shows each transaction in or with
respect to that account; (iii) a check, draft, or money order
drawn  on  an  association  or  issued  and  payable  by   an
association;  or  (iv)  any other item containing information
pertaining to any relationship established  in  the  ordinary
course  of  an  association's business between an association
and its customer, including  financial  statements  or  other
financial  information  provided  by  the member or holder of
capital.
    (c)  This Section does not prohibit:
         (1)  The  preparation,  examination,  handling,   or
    maintenance  of  any  financial  records  by any officer,
    employee, or agent of an association  having  custody  of
    those  records  or  the examination of those records by a
    certified public accountant engaged by the association to
    perform an independent audit.
         (2)  The examination of any financial records by, or
    the furnishing of financial records by an association to,
    any officer, employee, or agent of  the  Commissioner  of
    Banks  and  Real Estate or federal depository institution
    regulator, Federal Savings and Loan Insurance Corporation
    and   its   successors,   Federal    Deposit    Insurance
    Corporation,   Resolution   Trust   Corporation  and  its
    successors,  Federal  Home  Loan  Bank  Board   and   its
    successors, Office of Thrift Supervision, Federal Housing
    Finance  Board, Board of Governors of the Federal Reserve
    System, any Federal Reserve Bank, or the  Office  of  the
    Comptroller  of  the  Currency  for  use  solely  in  the
    exercise of his duties as an officer, employee, or agent.
         (3)  The   publication   of   data   furnished  from
    financial records  relating  to  members  or  holders  of
    capital  where  the  data  cannot  be  identified  to any
    particular member, holder of capital, or account.
         (4)  The making of reports or returns required under
    Chapter 61 of the Internal Revenue Code of 1986.
         (5)  Furnishing information concerning the  dishonor
    of  any  negotiable  instrument permitted to be disclosed
    under the Uniform Commercial Code.
         (6)  The exchange in the regular course of  business
    of  (i)  credit  information  between  an association and
    other   associations   or   financial   institutions   or
    commercial enterprises, directly or  through  a  consumer
    reporting agency or (ii) financial records or information
    derived from financial records between an association and
    other   associations   or   financial   institutions   or
    commercial  enterprises for the purpose of conducting due
    diligence pursuant to a purchase or  sale  involving  the
    association or assets or liabilities of the association.
         (7)  The    furnishing   of   information   to   the
    appropriate  law  enforcement   authorities   where   the
    association reasonably believes it has been the victim of
    a crime.
         (8)  The  furnishing  of information pursuant to the
    Uniform Disposition of Unclaimed Property Act.
         (9)  The furnishing of information pursuant  to  the
    Illinois  Income  Tax  Act  and  the  Illinois Estate and
    Generation-Skipping Transfer Tax Act.
         (10)  The furnishing of information pursuant to  the
    federal  "Currency  and  Foreign  Transactions  Reporting
    Act",  (Title  31,  United  States  Code, Section 1051 et
    seq.).
         (11)  The furnishing of information pursuant to  any
    other  statute  that  by  its  terms  or  by  regulations
    promulgated   thereunder   requires   the  disclosure  of
    financial  records  other  than  by  subpoena,   summons,
    warrant, or court order.
         (12)  The   exchange   of   information  between  an
    association and an affiliate of the association; as  used
    in   this   item,   "affiliate"   includes  any  company,
    partnership, or organization that controls, is controlled
    by, or is under common control with an association.
         (13)  The furnishing of  information  in  accordance
    with   the   federal  Personal  Responsibility  and  Work
    Opportunity Reconciliation Act of 1996.  Any  association
    governed  by  this  Act shall enter into an agreement for
    data exchanges with a State  agency  provided  the  State
    agency  pays  to  the association a reasonable fee not to
    exceed  its  actual  cost   incurred.    An   association
    providing  information in accordance with this item shall
    not be liable to any account holder or other  person  for
    any  disclosure  of  information  to  a State agency, for
    encumbering  or  surrendering  any  assets  held  by  the
    association in response to a lien or  order  to  withhold
    and  deliver  issued  by a State agency, or for any other
    action taken pursuant to this item, including  individual
    or  mechanical  errors,  provided  the  action  does  not
    constitute  gross  negligence  or  willful misconduct. An
    association shall have no obligation to  hold,  encumber,
    or  surrender  assets  until  it  has  been served with a
    subpoena,  summons,  warrant,  court  or   administrative
    order, lien, or levy.
         (14)  The   furnishing   of   information   to   law
    enforcement authorities, the Illinois Department on Aging
    and  its  regional  administrative and provider agencies,
    the Department of  Human  Services  Office  of  Inspector
    General, or public guardians, if the association suspects
    that  a customer who is an elderly or disabled person has
    been or may become the victim of financial  exploitation.
    For  the  purposes  of  this  item  (14),  the  term: (i)
    "elderly person" means a person who is 60 or  more  years
    of  age, (ii) "disabled person" means a person who has or
    reasonably appears to the association to have a  physical
    or  mental  disability that impairs his or her ability to
    seek or  obtain  protection  from  or  prevent  financial
    exploitation,  and  (iii)  "financial exploitation" means
    tortious or illegal use of the assets or resources of  an
    elderly   or   disabled  person,  and  includes,  without
    limitation, misappropriation of the elderly  or  disabled
    person's  assets  or resources by undue influence, breach
    of   fiduciary   relationship,    intimidation,    fraud,
    deception,  extortion,  or the use of assets or resources
    in any manner contrary to law. An association  or  person
    furnishing  information  pursuant to this item (14) shall
    be entitled to the  same  rights  and  protections  as  a
    person  furnishing  information under the Elder Abuse and
    Neglect Act and the Illinois  Domestic  Violence  Act  of
    1986.
         (15)  The   disclosure   of   financial  records  or
    information  as  necessary  to  effect,  administer,   or
    enforce  a  transaction  requested  or  authorized by the
    member or holder of capital, or in connection with:
              (A)  servicing  or   processing   a   financial
         product  or  service  requested or authorized by the
         member or holder of capital;
              (B)  maintaining or servicing an account  of  a
         member or holder of capital with the association; or
              (C)  a  proposed  or  actual  securitization or
         secondary market sale (including sales of  servicing
         rights)  related  to  a  transaction  of a member or
         holder of capital.
         Nothing in this item (15), however,  authorizes  the
    sale  of the financial records or information of a member
    or holder of capital without the consent of the member or
    holder of capital.
         (16)  The  disclosure  of   financial   records   or
    information  as  necessary  to protect against or prevent
    actual or  potential  fraud,  unauthorized  transactions,
    claims, or other liability.
         (17) (a)  The  disclosure  of  financial  records or
    information related to a  private  label  credit  program
    between a financial institution and a private label party
    in  connection  with  that  private label credit program.
    Such  information  is  limited  to  outstanding  balance,
    available credit, payment  and  performance  and  account
    history,  product  references,  purchase information, and
    information related to the identity of the customer.
         (b) (l)  For purposes  of  this  paragraph  (17)  of
    subsection  (c)  of  Section 3-8, a "private label credit
    program" means a credit  program  involving  a  financial
    institution  and  a private label party that is used by a
    customer of the financial  institution  and  the  private
    label  party  primarily for payment for goods or services
    sold, manufactured, or distributed  by  a  private  label
    party.
         (2)  For   purposes   of   this  paragraph  (17)  of
    subsection (c) of Section 3-8, a  "private  label  party"
    means,  with  respect  to a private label credit program,
    any  of  the  following:  a  retailer,  a   merchant,   a
    manufacturer,   a  trade  group,  or  any  such  person's
    affiliate,  subsidiary,   member,   agent,   or   service
    provider.
    (d)  An  association  may  not  disclose  to  any person,
except to the  member  or  holder  of  capital  or  his  duly
authorized  agent,  any  financial  records  relating to that
member or holder of capital of that association unless:
         (1)  The member or holder of capital has  authorized
    disclosure to the person; or
         (2)  The financial records are disclosed in response
    to  a  lawful  subpoena, summons, warrant, or court order
    that meets the requirements of  subsection  (e)  of  this
    Section.
    (e)  An  association  shall  disclose  financial  records
under  subsection  (d)  of  this Section pursuant to a lawful
subpoena, summons, warrant, or court  order  only  after  the
association  mails  a copy of the subpoena, summons, warrant,
or court order to the person  establishing  the  relationship
with the association, if living, and, otherwise, his personal
representative,  if known, at his last known address by first
class  mail,  postage  prepaid,  unless  the  association  is
specifically prohibited from notifying that person  by  order
of court.
    (f) (1)  Any  officer  or  employee of an association who
knowingly  and  willfully  furnishes  financial  records   in
violation  of  this  Section  is guilty of a business offense
and, upon conviction, shall be fined not more than $1,000.
    (2)  Any person who knowingly and  willfully  induces  or
attempts  to induce any officer or employee of an association
to disclose financial records in violation of this Section is
guilty of a business offense and, upon conviction,  shall  be
fined not more than $1,000.
    (g)  However,  if  any member desires to communicate with
the other members of the association with  reference  to  any
question  pending  or  to  be  presented  at a meeting of the
members, the  association  shall  give  him  upon  request  a
statement  of  the  approximate number of members entitled to
vote at the meeting and an estimate of the cost of  preparing
and  mailing  the  communication.  The requesting member then
shall submit the communication to the Commissioner who, if he
finds it to be appropriate and truthful, shall direct that it
be prepared and mailed to the  members  upon  the  requesting
member's  payment  or  adequate  provision for payment of the
expenses of preparation and mailing.
    (h)  An association shall be reimbursed  for  costs  that
are  necessary  and  that  have  been  directly  incurred  in
searching  for,  reproducing,  or transporting books, papers,
records,  or  other  data  of  a  customer  required  to   be
reproduced  pursuant  to a lawful subpoena, warrant, or court
order.
(Source: P.A. 91-929, eff. 12-15-00;  92-483,  eff.  8-23-01;
92-543, eff. 6-12-02.)

    (205 ILCS 105/4-2) (from Ch. 17, par. 3304-2)
    Sec.  4-2.  Withdrawable  capital.  Withdrawable  capital
accounts shall be:
    (a)  Withdrawable  and  subject to enforced retirement as
provided in this Article. Nothing in this Act  shall  prevent
the withdrawal of funds from an association by non-negotiable
order;
    (b)  Entitled to dividends as provided in this Article;
    (c)  Nonassessable  for  either  debts  or  losses of the
association; and
    (d)  Issued on such plan or plans of payment therefor  or
thereon  and  such  series  or  classes  as  the  by-laws and
Commissioner's regulations may provide.
    There shall be no penalty,  such   as  loss  of  interest
thereon,  on  accounts  transferred  at  interest or dividend
payment date from passbook types to  certificate  of  deposit
within  the same facility and not otherwise inconsistent with
regulations of the Federal Deposit Insurance Corporation  and
the  Office  of Thrift Supervision Savings and Loan Insurance
Corporation or the Federal Home Loan Bank Board.
(Source: P.A. 84-543.)

    (205 ILCS 105/7-6) (from Ch. 17, par. 3307-6)
    Sec. 7-6.  Annual audit. At least once in each year,  but
in no case more than 12 months after the last audit conducted
pursuant  to  this  Section,  it  shall be mandatory for each
association to cause its books and accounts to be audited  by
a   licensed   public  accountant  not  connected  with  such
association. The Commissioner may prescribe the scope of such
audit within the generally acceptable auditing principles and
standards. The report of such  audit  shall  be  given  to  a
committee composed of not less than 3 members of the board of
directors,  none  of  whom  shall  be  officers, employees or
agents of such association, and such committee shall, at  the
meeting  of  the  board of directors following receipt of the
report, present in detail the nature, extent  and  result  of
the   report.   A   written   summary   of  such  committee's
presentation, including a detailed listing of all  criticisms
made by the accountant conducting the audit and any responses
thereto  made  by any member of the board of directors or any
officer of the association, shall be sent by registered  mail
to  all  members of the board of directors not present at the
meeting at which the committee made its presentation. A  copy
of  the  audit  report,  including  a  balance  sheet  of the
association on the date of audit and a  statement  of  income
and  expenses  of the association during the year ending with
the date of audit and, if and when such is used,  a  copy  of
any  written summary prepared for absent members of the board
of directors, shall be filed with  the  Commissioner  by  the
committee  receiving  the  report within 90 days of the audit
date; except that the Commissioner may, for good cause shown,
extend the filing date for up  to  60  additional  days.  The
report  filed with the Commissioner shall be certified by the
licensed public  accountant  conducting  the  audit.  If  any
association  required to make an audit shall fail to cause an
audit to be made, the Commissioner shall cause the same to be
made by a licensed public  accountant  at  the  association's
expense.  In  lieu of the audit required by this Section, the
Commissioner may accept any audit  or  portion  thereof  made
exclusively for the Federal Deposit Insurance Corporation and
the  Office of Thrift Supervision Home Loan Bank, the Federal
Home  Loan  Bank  Board  or  the  Federal  Savings  and  Loan
Insurance Corporation.
(Source: P.A. 84-543.)

    (205 ILCS 105/7-7) (from Ch. 17, par. 3307-7)
    Sec. 7-7.  Reports to Commissioner and members; penalty.
    (a)  Every association operating  under  this  Act  shall
file with the Commissioner within 90 days following the close
of  each  fiscal year of such association a statement showing
its financial condition at the close of the fiscal  year  and
its  operations for the year then ended. For good cause shown
in writing directed to the Commissioner  within  the  90  day
period,  the  Commissioner  may authorize up to 60 additional
days for filing of the statement of financial condition. Each
such  statement  shall  be  on  forms   prescribed   by   the
Commissioner   and  in  conformity  with  generally  accepted
accounting principles  or  regulatory  accounting  principles
permitted,  recognized  or authorized by the Office of Thrift
Supervision Federal  Home  Loan  Bank  Board  for  a  federal
association  and  subject to the rules and regulations of the
Commissioner and in accord with the provisions of  this  Act.
Each  such statement shall contain such information and be in
such form as prescribed by  the  Commissioner  and  shall  be
verified  by the secretary and certified by a licensed public
accountant appointed by  the  board  of  directors  or  by  2
officers  of the association, if a licensed public accountant
has been appointed to audit the  books  and  records  of  the
association as provided in the preceding Section of this Act.
Every   association   including   its   holding  company  and
subsidiaries shall  also  file  such  other  reports  as  the
Commissioner may require from time to time.
    Any association which, after notice from the Commissioner
sent  by  certified  or  registered  mail,  wilfully fails to
submit within the time prescribed the annual financial report
required by this Section is subject to a civil penalty of not
more than $500 for each such failure. Any association  which,
after  notice  from  the  Commissioner  sent  by certified or
registered mail, wilfully fails to  submit  within  the  time
prescribed  any  other  report  required  by  this Section is
subject to a civil penalty of not more  than  $100  for  each
such  failure  (which  penalties  shall  be cumulative to any
other remedies). For the purposes of this Section,  the  date
on which any report required by this Section is postmarked is
the  date  of  filing  of  any  such  report.  The knowing or
intentional filing of any such report which is false  in  any
material   respect  constitutes  a  felony,  and  any  person
convicted thereof shall be punished by a  fine  of  not  more
than  $10,000, or imprisonment in the penitentiary for one to
5 years, or both.
    (b)  An association shall file with  the  Commissioner  a
report  of  change  of  ownership of permanent reserve shares
when such change  of  ownership  results  in  any  person  as
defined  by  this  Act  holding  10% or more, through any one
transaction  or  related  series  of  transactions,  of   the
outstanding  permanent  reserves  shares  of the association.
Such report shall include owners who hold as beneficiaries or
through nominees as well as in their own names.   The  report
shall  be made within 5 business days after knowledge of such
change  has  been  obtained  by  the  officer  authorized  or
required  to  make  reports   to   the   Commissioner.    The
Commissioner  also  may require any such person owning 10% or
more of permanent reserve shares to report the beneficiary or
beneficiaries for whom he is holding title.
    Whenever there is a change in the managing officer of  an
association  or  a  change  amounting  to  a  majority of the
directors of an association elected at a regular  or  special
meeting  of  the  members,  such  change  shall  likewise  be
reported within 5 business days to the Commissioner.
    The  willful  failure by any person required to report or
disclose change of ownership or control as  defined  in  this
Section constitutes a Class 4 felony.
    (c)  Within   60  days  after  the  date  of  filing  the
Statement of Financial Condition with the  Commissioner,  the
association  shall  mail  to each member or make available at
each of its offices the annual statement of  condition  or  a
condensed form thereof approved by the Commissioner, or shall
publish  the  same at least once, and shall also furnish upon
the written or personal request of any member a copy  of  the
complete  annual statement of condition. The annual statement
of condition, or any condensed form thereof,  made  available
to  members  by publication, mailing, or at the association's
offices  shall  include  a  statement   setting   forth   the
association's  assets,  liabilities,  regulatory  capital and
deposits.   In  addition,  the  statement  shall  include   a
statement of the association's goals and intentions in regard
to   investment  of  the  association's  funds  in  order  to
reasonably inform the  member  as  to  the  security  of  his
interest.   Notification  of the availability of the complete
annual  statement  shall  be  prominently  and  conspicuously
posted in areas of public access at each of the association's
branches or offices.
    (d)  Any change of control or ownership of 25% or more of
the permanent reserve shares or stock of (a) any  association
operating  under this Act, or (b) of the shares or stock of a
subsidiary of the parent or a subsidiary of  any  association
operating   under   this   Act,  must  be  submitted  to  the
Commissioner for review and approval on forms, conditions and
terms to be specified by the Commissioner.  The  Commissioner
may  accept  in satisfaction of this requirement, submissions
required under federal statutes and regulations  for  changes
of control.  Any doubt as to whether a change of ownership or
other   change   in  the  outstanding  voting  stock  of  any
association is sufficient to result in a change of  ownership
or control, shall be resolved in favor of reporting the facts
to  the  Commissioner.   Compliance with this provision shall
not relieve an association,  its  parent  or  affiliate  from
complying  with other applicable State or federal statutes or
regulations.  The Commissioner may  disapprove  any  proposed
acquisition if:
         (1)  The   proposed  acquisition  of  control  would
    result in a monopoly or would be in  furtherance  of  any
    combination  or conspiracy to monopolize or to attempt to
    monopolize the savings and loan business in any  part  of
    Illinois;
         (2)  The  effect  of  the  proposed  acquisition  of
    control  in any section of the State may be substantially
    to lessen competition or to tend to create a monopoly  or
    the  proposed  acquisition  of control would in any other
    manner be in restraint of trade, and the  anticompetitive
    effects  of  the  proposed acquisition of control are not
    clearly outweighed in the public interest by the probable
    effect of the transaction in meeting the convenience  and
    needs of the community to be served;
         (3)  The  financial  condition  or  history  of  any
    acquiring   person   is  such  as  might  jeopardize  the
    financial stability of the institution or  prejudice  the
    interests of the depositors of the institution;
         (4)  The competence, experience, or integrity of any
    acquiring  person  or  any  of  the  proposed  management
    personnel  indicates that it would not be in the interest
    of the depositors of the institution or in  the  interest
    of  the  public  to  permit  such  person  to control the
    institution; or
         (5)  Any acquiring person neglects, fails or refuses
    to furnish the Commissioner all the information  required
    by the Commissioner.
(Source: P.A. 89-320, eff. 1-1-96; 89-603, eff. 8-2-96.)

    (205 ILCS 105/7-9) (from Ch. 17, par. 3307-9)
    Sec.  7-9.  Disclosure  of  reports  of  examinations and
confidential supervisory information; limitations.
    (a)  Any   report   of   examination,   visitation,    or
investigation  prepared  by  the Commissioner under this Act,
any  report  of  examination,  visitation,  or  investigation
prepared by the state regulatory authority of  another  state
that  examines  a  branch of an Illinois State association in
that state, any document or record prepared  or  obtained  in
connection  with  or relating to any examination, visitation,
or investigation, and any record prepared or obtained by  the
Commissioner  to  the  extent  that  the record summarizes or
contains information derived from any  report,  document,  or
record   described   in   this  subsection  shall  be  deemed
confidential    supervisory    information.     "Confidential
supervisory information" shall not include any information or
record routinely prepared by an association and maintained in
the  ordinary course of business or any information or record
that is required to be made publicly  available  pursuant  to
State  or  federal  law  or  rule.  Confidential  supervisory
information  shall  be  the  property of the Commissioner and
shall only be disclosed under the circumstances and  for  the
purposes set forth in this Section.
    The  Commissioner  may  disclose confidential supervisory
information only under the following circumstances:
         (1)  The  Commissioner  may   furnish   confidential
    supervisory  information  to federal and state depository
    institution  regulators,  or  any  official  or  examiner
    thereof  duly  accredited  for   the   purpose.   Nothing
    contained  in  this  Act  shall be construed to limit the
    obligation  of  any  association  to  comply   with   the
    requirements  relative to examinations and reports nor to
    limit in any way the powers of the Commissioner  relative
    to examinations and reports.
         (2)  The   Commissioner   may  furnish  confidential
    supervisory information  to  the  United  States  or  any
    agency   thereof  that  to  any  extent  has  insured  an
    association's  deposits,  or  any  official  or  examiner
    thereof  duly  accredited  for   the   purpose.   Nothing
    contained  in  this  Act  shall be construed to limit the
    obligation relative to examinations and  reports  of  any
    association  in  which deposits are to any extent insured
    by the United States or any agency thereof nor  to  limit
    in  any way the powers of the Commissioner with reference
    to examination and reports of the association.
         (3)  The  Commissioner  may   furnish   confidential
    supervisory    information   to   the   appropriate   law
    enforcement authorities when the Commissioner  reasonably
    believes  an  association,  which  the  Commissioner  has
    caused to be examined, has been a victim of a crime.
         (4)  The   Commissioner   may  furnish  confidential
    supervisory information related to an association,  which
    the  Commissioner  has  caused  to  be  examined,  to the
    administrator of the  Uniform  Disposition  of  Unclaimed
    Property Act.
         (5)  The   Commissioner   may  furnish  confidential
    supervisory information relating to an association, which
    the Commissioner has caused to be examined,  relating  to
    its  performance of obligations under the Illinois Income
    Tax Act and the Illinois Estate  and  Generation-Skipping
    Transfer Tax Act to the Illinois Department of Revenue.
         (6)  The   Commissioner   may  furnish  confidential
    supervisory information relating to an association, which
    the Commissioner has caused to  be  examined,  under  the
    federal  Currency and Foreign Transactions Reporting Act,
    31 United States Code, Section 1051 et seq.
         (7)  The  Commissioner  may   furnish   confidential
    supervisory  information  to  any  other agency or entity
    that the Commissioner determines  to  have  a  legitimate
    regulatory interest.
         (8)  The   Commissioner   may  furnish  confidential
    supervisory  information  as   otherwise   permitted   or
    required   by  this  Act  and  may  furnish  confidential
    supervisory information under any other statute  that  by
    its   terms  or  by  regulations  promulgated  thereunder
    requires the disclosure of financial records  other  than
    by subpoena, summons, warrant, or court order.
         (9)  At the request of the affected association, the
    Commissioner   may   furnish   confidential   supervisory
    information   relating  to  the  association,  which  the
    Commissioner has caused to  be  examined,  in  connection
    with  the  obtaining of insurance coverage or the pursuit
    of  an  insurance  claim  for  or  on   behalf   of   the
    association;    provided   that,   when   possible,   the
    Commissioner shall  disclose  only  relevant  information
    while   maintaining   the  confidentiality  of  financial
    records not relevant to such insurance coverage or  claim
    and,   when  appropriate,  may  delete  identifying  data
    relating to any person.
         (10)  The Commissioner  may  furnish  a  copy  of  a
    report  of  any examination performed by the Commissioner
    of the condition  and  affairs  of  any  electronic  data
    processing  entity  to  the  associations serviced by the
    electronic data processing entity.
         (11)  In addition to  the  foregoing  circumstances,
    the  Commissioner  may,  but  is not required to, furnish
    confidential  supervisory  information  under  the   same
    circumstances  authorized for the association pursuant to
    subsection  (b)  of  this  Section,   except   that   the
    Commissioner   shall   provide  confidential  supervisory
    information under circumstances  described  in  paragraph
    (3)  of  subsection  (b)  of  this  Section only upon the
    request of the association.
    (b)  An  association  or  its   officers,   agents,   and
employees  may  disclose confidential supervisory information
only under the following circumstances:
         (1)  to the board of directors of  the  association,
    as  well  as  the president, vice-president, cashier, and
    other officers of the association to whom  the  board  of
    directors  may delegate duties with respect to compliance
    with recommendations for action,  and  to  the  board  of
    directors  of an association holding company that owns at
    least 80% of the outstanding stock of the association  or
    other financial institution.
         (2)  to  attorneys  for  the  association  and  to a
    certified public accountant engaged by the association to
    perform an independent audit; provided that the  attorney
    or  certified  public  accountant  shall  not  permit the
    confidential  supervisory  information  to   be   further
    disseminated.
         (3) to any person who seeks to acquire a controlling
    interest in, or who seeks to merge with, the association;
    provided  that  the  person  shall  agree  to be bound to
    respect   the   confidentiality   of   the   confidential
    supervisory information and to  not  further  disseminate
    the information other than to attorneys, certified public
    accountants,  officers,  agents,  or  employees  of  that
    person  who  likewise  shall agree to be bound to respect
    the  confidentiality  of  the  confidential   supervisory
    information   and   to   not   further   disseminate  the
    information.
         (4) to the association's insurance company,  if  the
    supervisory  information  contains  information  that  is
    otherwise   unavailable  and  is  strictly  necessary  to
    obtaining insurance coverage  or  pursuing  an  insurance
    claim for or on behalf of the association; provided that,
    when   possible,  the  association  shall  disclose  only
    information  that  is  relevant  to  obtaining  insurance
    coverage  or   pursuing   an   insurance   claim,   while
    maintaining  the confidentiality of financial information
    pertaining to customers; and provided further that,  when
    appropriate,  the association may delete identifying data
    relating to any person.
    The disclosure of confidential supervisory information by
an association  pursuant  to  this  subsection  (b)  and  the
disclosure  of  information  to  the  Commissioner  or  other
regulatory   agency   in  connection  with  any  examination,
visitation, or investigation shall not constitute a waiver of
any legal privilege otherwise available  to  the  association
with respect to the information.
    (c)  (1)  Notwithstanding any other provision of this Act
or any other law, confidential supervisory information  shall
be  the  property of the Commissioner and shall be privileged
from disclosure to any person  except  as  provided  in  this
Section.  No person in possession of confidential supervisory
information may disclose that information for any  reason  or
under any circumstances not specified in this Section without
the  prior authorization of the Commissioner. Any person upon
whom a demand  for  production  of  confidential  supervisory
information  is  made,  whether  by subpoena, order, or other
judicial or administrative process, must withhold  production
of  the  confidential supervisory information and must notify
the  Commissioner  of  the  demand,   at   which   time   the
Commissioner  is  authorized  to intervene for the purpose of
enforcing the limitations of  this  Section  or  seeking  the
withdrawal or termination of the attempt to compel production
of the confidential supervisory information.
         (2)  Any  request  for  discovery  or  disclosure of
    confidential   supervisory   information,   whether    by
    subpoena,  order,  or  other  judicial  or administrative
    process, shall be  made  to  the  Commissioner,  and  the
    Commissioner  shall  determine  within 15 days whether to
    disclose  the  information  pursuant  to  procedures  and
    standards that the Commissioner shall establish by  rule.
    If the Commissioner determines that such information will
    not  be  disclosed,  the Commissioner's decision shall be
    subject to judicial review under the  provisions  of  the
    Administrative  Review  Law, and venue shall be in either
    Sangamon County or Cook County.
         (3) Any  court  order  that  compels  disclosure  of
    confidential  supervisory  information may be immediately
    appealed by the Commissioner,  and  the  order  shall  be
    automatically stayed pending the outcome of the appeal.
    (d)  If  any  officer, agent, attorney, or employee of an
association knowingly and  willfully  furnishes  confidential
supervisory  information  in  violation  of this Section, the
Commissioner may impose a civil monetary penalty up to $1,000
for the violation against the officer,  agent,  attorney,  or
employee.   Information   to  Federal  Authorities.  (a)  The
Commissioner may give copies of reports of  his  examinations
of  an association and copies of the association's reports to
him and any other information which  he  has  concerning  the
association  to: the Federal Home Loan Bank (or its successor
instrumentality) of which the association is  a  member;  the
insurance  corporation  which  has  insured the association's
deposits; other regulatory agencies of this State; regulatory
agencies of financial institutions in other states;  and  law
enforcement  agencies  of  this State, other states or of the
United States.
    (b)  No such action by the Commissioner shall relieve the
association from compliance with  any  requirements  of  such
Federal  institution  concerning  examinations  or reports or
limit the Commissioner's powers  to  examine  or  to  require
reports from the association.
    (c)  No  other  party shall be entitled to any reports of
examination,  reports  to  the  Commissioner  or  any   other
information  concerning  the  association  derived  from such
reports.
(Source: P.A. 86-137.)

    (205 ILCS 105/7-11) (from Ch. 17, par. 3307-11)
    Sec. 7-11.  Commissioner's authority to take custody  and
appoint a conservator. The Commissioner in his discretion may
take custody of, and appoint a conservator for, the property,
liabilities,  books,  records,  business  and assets of every
kind and character of any association, trust  or  association
in   liquidation,   for   any  of  the  purposes  hereinafter
enumerated,  if  it  appears  from  reports   made   to   the
Commissioner, or from examination made by or on behalf of the
Commissioner:
         (a)  That   the  directors,  officers,  trustees  or
    liquidators have neglected, failed or refused to take any
    action which the Commissioner may deem necessary for  the
    protection of the association or trust or have impeded or
    obstructed an examination; or
         (b)  That    the   withdrawable   capital   of   the
    association is impaired to the extent that the realizable
    value of its assets is insufficient to pay  in  full  its
    creditors  and  holders  of  its withdrawable capital; or
    that its permanent reserve capital is impaired; or
         (c)  That the  association  is  unable  to  continue
    operation; or
         (d)  That  the business of the association, trust or
    association  in  liquidation  is  being  conducted  in  a
    fraudulent, illegal or unsafe manner; or
         (e)  That  the  officers,  employees,  trustees   or
    liquidators  have  continued  to assume duties or perform
    acts without giving bond as required by the provisions of
    this Act.
    Unless the Commissioner finds that  an  emergency  exists
which may result in loss to members or creditors and requires
that he take custody immediately, he first shall give written
notice  to  the directors, trustees or liquidators specifying
the conditions criticized and state a reasonable time  within
which  correction  may  be  made.  If however, an association
whose accounts are insured by the Federal  Savings  and  Loan
insurance  corporation  is  impaired  within  the  meaning of
paragraph (b) above, or  any  other  condition  exists  which
would  give  the Commissioner authority to take custody of an
insured institution, the action of the  Commissioner  can  be
withheld  provided  that  the  Commissioner  determines  from
reports  made  to  him  by  the  association,  and such other
examinations as may be deemed necessary, that the association
has sufficient liquid assets and has adopted and  implemented
an  operating plan satisfactory to the Commissioner.  In such
case the Commissioner may defer a custody  action  pending  a
satisfactory  resolution  of  the  impairment as suggested by
either the  association  or  the  Federal  Savings  and  Loan
insurance corporation.
    If  any condition exists that would give the Commissioner
authority to take custody of an association,  the  action  of
the  Commissioner  may  be  withheld  pending  a satisfactory
resolution of the condition as  suggested  by  the  insurance
corporation provided the association has sufficient liquidity
and  has  adopted  and  implemented  an  operating  plan  the
Commissioner considers prudent.
    No  action or inaction of the Commissioner taken pursuant
to this Article shall cause the Commissioner to be personally
liable for such action or inaction unless the  Commissioner's
action  or inaction is found to be in violation of a criminal
statute.   The  Commissioner  shall  promulgate   rules   and
regulations  to  govern  the  determination  of  a need for a
conservator and the selection, appointment and conduct  of  a
conservatorship, including allocation of payment and costs.
(Source: P.A. 91-97, eff. 7-9-99.)

    (205 ILCS 105/7-23) (from Ch. 17, par. 3307-23)
    Sec.  7-23.  Proceedings  on objections to Commissioner's
action.  Any person aggrieved  by  any  decision,  order,  or
action of the Commissioner, except one under paragraph (b) of
Section 1-9, Section 2-3, or paragraph (j) of Section 3-4, or
Section 7-9 of this Act, or under Section 1006(b), or Section
3005, or Section 9012 of the Savings Bank Act, or involving a
change  of  location  of an office or the establishment of an
additional office under the Savings Bank Act, may  receive  a
hearing  as  provided  in  Sections 7-24 through 7-27 of this
Act.
(Source: P.A. 89-508, eff. 7-3-96.)

    Section 10.  The Savings Bank Act is amended by  changing
Sections 4013 and 9012 as follows:

    (205 ILCS 205/4013) (from Ch. 17, par. 7304-13)
    Sec.  4013.  Access  to  books and records; communication
with members and shareholders.
    (a)  Every member or shareholder shall have the right  to
inspect books and records of the savings bank that pertain to
his   accounts.   Otherwise,  the  right  of  inspection  and
examination of the books and  records  shall  be  limited  as
provided  in  this Act, and no other person shall have access
to the books and records nor shall be entitled to a  list  of
the members or shareholders.
    (b)  For the purpose of this Section, the term "financial
records"  means any original, any copy, or any summary of (1)
a document granting signature authority  over  a  deposit  or
account; (2) a statement, ledger card, or other record on any
deposit  or  account  that  shows each transaction in or with
respect to that account; (3) a check, draft, or  money  order
drawn  on  a  savings bank or issued and payable by a savings
bank; or (4) any other item containing information pertaining
to any relationship established in the ordinary course  of  a
savings  bank's  business  between  a  savings  bank  and its
customer, including financial statements or  other  financial
information provided by the member or shareholder.
    (c)  This Section does not prohibit:
         (1)  The   preparation   examination,  handling,  or
    maintenance of any financial   records  by  any  officer,
    employee,  or  agent  of a savings bank having custody of
    records or examination of records by a  certified  public
    accountant  engaged  by  the  savings  bank to perform an
    independent audit.
         (2)  The examination of any financial records by, or
    the furnishing of financial records by a savings bank to,
    any officer, employee, or agent of  the  Commissioner  of
    Banks   and   Real   Estate  or  the  federal  depository
    institution   regulator   Federal    Deposit    Insurance
    Corporation  for use solely in the exercise of his duties
    as an officer, employee, or agent.
         (3)  The  publication   of   data   furnished   from
    financial  records  relating  to  members  or  holders of
    capital where  the  data  cannot  be  identified  to  any
    particular member, shareholder, or account.
         (4)  The making of reports or returns required under
    Chapter 61 of the Internal Revenue Code of 1986.
         (5)  Furnishing  information concerning the dishonor
    of any negotiable instrument permitted  to  be  disclosed
    under the Uniform Commercial Code.
         (6)  The  exchange in the regular course of business
    of (i) credit information  between  a  savings  bank  and
    other   savings   banks   or  financial  institutions  or
    commercial enterprises, directly or  through  a  consumer
    reporting agency or (ii) financial records or information
    derived from financial records between a savings bank and
    other   savings   banks   or  financial  institutions  or
    commercial enterprises for the purpose of conducting  due
    diligence  pursuant  to  a purchase or sale involving the
    savings bank or assets  or  liabilities  of  the  savings
    bank.
         (7)  The    furnishing   of   information   to   the
    appropriate law enforcement authorities where the savings
    bank reasonably believes it has  been  the  victim  of  a
    crime.
         (8)  The  furnishing  of information pursuant to the
    Uniform Disposition of Unclaimed Property Act.
         (9)  The furnishing of information pursuant  to  the
    Illinois  Income  Tax  Act  and  the  Illinois Estate and
    Generation-Skipping Transfer Tax Act.
         (10)  The furnishing of information pursuant to  the
    federal  "Currency  and  Foreign  Transactions  Reporting
    Act",  (Title  31,  United  States  Code, Section 1051 et
    seq.).
         (11)  The furnishing of information pursuant to  any
    other  statute  which  by  its  terms  or  by regulations
    promulgated  thereunder  requires   the   disclosure   of
    financial   records  other  than  by  subpoena,  summons,
    warrant, or court order.
         (12)  The furnishing of  information  in  accordance
    with   the   federal  Personal  Responsibility  and  Work
    Opportunity Reconciliation Act of 1996. Any savings  bank
    governed  by  this  Act shall enter into an agreement for
    data exchanges with a State  agency  provided  the  State
    agency  pays  to the savings bank a reasonable fee not to
    exceed  its  actual  cost  incurred.   A   savings   bank
    providing  information in accordance with this item shall
    not be liable to any account holder or other  person  for
    any  disclosure  of  information  to  a State agency, for
    encumbering  or  surrendering  any  assets  held  by  the
    savings bank in response to a lien or order  to  withhold
    and  deliver  issued  by a State agency, or for any other
    action taken pursuant to this item, including  individual
    or  mechanical  errors,  provided  the  action  does  not
    constitute  gross  negligence  or  willful misconduct.  A
    savings bank shall have no obligation to hold,  encumber,
    or  surrender  assets  until  it  has  been served with a
    subpoena,  summons,  warrant,  court  or   administrative
    order, lien, or levy.
         (13)  The   furnishing   of   information   to   law
    enforcement authorities, the Illinois Department on Aging
    and  its  regional  administrative and provider agencies,
    the Department of  Human  Services  Office  of  Inspector
    General,   or  public  guardians,  if  the  savings  bank
    suspects that a customer who is an  elderly  or  disabled
    person  has  been  or  may become the victim of financial
    exploitation. For the purposes of  this  item  (13),  the
    term:  (i)  "elderly  person" means a person who is 60 or
    more years of age, (ii) "disabled person" means a  person
    who has or reasonably appears to the savings bank to have
    a  physical  or mental disability that impairs his or her
    ability to seek or  obtain  protection  from  or  prevent
    financial     exploitation,    and    (iii)    "financial
    exploitation" means tortious or illegal use of the assets
    or resources  of  an  elderly  or  disabled  person,  and
    includes,  without  limitation,  misappropriation  of the
    elderly or disabled person's assets or resources by undue
    influence,    breach    of    fiduciary     relationship,
    intimidation,  fraud, deception, extortion, or the use of
    assets or resources in any  manner  contrary  to  law.  A
    savings bank or person furnishing information pursuant to
    this  item  (13) shall be entitled to the same rights and
    protections as a person furnishing information under  the
    Elder  Abuse  and  Neglect  Act and the Illinois Domestic
    Violence Act of 1986.
         (14)  The  disclosure  of   financial   records   or
    information   as  necessary  to  effect,  administer,  or
    enforce a transaction  requested  or  authorized  by  the
    member or holder of capital, or in connection with:
              (A)  servicing   or   processing   a  financial
         product or service requested or  authorized  by  the
         member or holder of capital;
              (B)  maintaining  or  servicing an account of a
         member or holder of capital with the  savings  bank;
         or
              (C)  a  proposed  or  actual  securitization or
         secondary market sale (including sales of  servicing
         rights)  related  to  a  transaction  of a member or
         holder of capital.
         Nothing in this item (14), however,  authorizes  the
    sale  of the financial records or information of a member
    or holder of capital without the consent of the member or
    holder of capital.
         (15)  The exchange in the regular course of business
    of information between a savings bank  and  any  commonly
    owned  affiliate  of  the  savings  bank,  subject to the
    provisions of the Financial Institutions Insurance  Sales
    Law.
         (16)  The   disclosure   of   financial  records  or
    information as necessary to protect  against  or  prevent
    actual  or  potential  fraud,  unauthorized transactions,
    claims, or other liability.
         (17) (a)  The disclosure  of  financial  records  or
    information  related  to  a  private label credit program
    between a financial institution and a private label party
    in connection with that  private  label  credit  program.
    Such  information  is  limited  to  outstanding  balance,
    available  credit,  payment  and  performance and account
    history, product references,  purchase  information,  and
    information related to the identity of the customer.
         (b) (l)  For  purposes  of  this  paragraph  (17) of
    subsection (c) of Section 4013, a "private  label  credit
    program"  means  a  credit  program involving a financial
    institution and a private label party that is used  by  a
    customer  of  the  financial  institution and the private
    label party primarily for payment for goods  or  services
    sold,  manufactured,  or  distributed  by a private label
    party.
         (2)  For  purposes  of  this   paragraph   (17)   of
    subsection  (c)  of Section 4013, a "private label party"
    means, with respect to a private  label  credit  program,
    any   of   the  following:  a  retailer,  a  merchant,  a
    manufacturer,  a  trade  group,  or  any  such   person's
    affiliate,   subsidiary,   member,   agent,   or  service
    provider.
    (d)  A savings bank  may  not  disclose  to  any  person,
except  to  the  member  or  holder  of  capital  or his duly
authorized agent, any  financial  records  relating  to  that
member or shareholder of the savings bank unless:
         (1)  the   member   or  shareholder  has  authorized
    disclosure to the person; or
         (2)  the financial records are disclosed in response
    to a lawful subpoena, summons, warrant,  or  court  order
    that  meets  the  requirements  of subsection (e) of this
    Section.
    (e)  A savings  bank  shall  disclose  financial  records
under  subsection  (d)  of  this Section pursuant to a lawful
subpoena, summons, warrant, or court  order  only  after  the
savings  bank mails a copy of the subpoena, summons, warrant,
or court order to the person  establishing  the  relationship
with the savings bank, if living, and otherwise, his personal
representative,  if known, at his last known address by first
class mail, postage  prepaid,  unless  the  savings  bank  is
specifically prohibited from notifying the person by order of
court.
    (f)  Any  officer  or  employee  of  a  savings  bank who
knowingly  and  willfully  furnishes  financial  records   in
violation  of  this  Section  is guilty of a business offense
and, upon conviction, shall be fined not more than $1,000.
    (g)  Any person who knowingly and  willfully  induces  or
attempts  to induce any officer or employee of a savings bank
to disclose financial records in violation of this Section is
guilty of a business offense and, upon conviction,  shall  be
fined not more than $1,000.
    (h)  If  any member or shareholder desires to communicate
with the other members or shareholders of  the  savings  bank
with  reference to any question pending or to be presented at
an annual or special meeting, the  savings  bank  shall  give
that  person,  upon  request,  a statement of the approximate
number of members or shareholders entitled  to  vote  at  the
meeting  and an estimate of the cost of preparing and mailing
the communication.  The requesting member  shall  submit  the
communication  to the Commissioner who, upon finding it to be
appropriate and truthful, shall direct that  it  be  prepared
and  mailed  to  the  members upon the requesting member's or
shareholder's payment or adequate provision  for  payment  of
the expenses of preparation and mailing.
    (i)  A  savings  bank  shall be reimbursed for costs that
are  necessary  and  that  have  been  directly  incurred  in
searching for, reproducing, or  transporting  books,  papers,
records,   or  other  data  of  a  customer  required  to  be
reproduced pursuant to a lawful subpoena, warrant,  or  court
order.
    (j)  Notwithstanding  the  provisions  of this Section, a
savings bank may sell or  otherwise  make  use  of  lists  of
customers'   names  and  addresses.   All  other  information
regarding a customer's account are subject to the  disclosure
provisions  of this Section.  At the request of any customer,
that customer's name and address shall be  deleted  from  any
list  that  is  to be sold or used in any other manner beyond
identification of the customer's accounts.
(Source: P.A. 91-929, eff. 12-15-00;  92-483,  eff.  8-23-01;
92-543, eff. 6-12-02.)
    (205 ILCS 205/9012) (from Ch. 17, par. 7309-12)
    Sec.  9012.  Disclosure  of  reports  of examinations and
confidential supervisory information; limitations.
    (a)  Any   report   of   examination,   visitation,    or
investigation  prepared  by  the Commissioner under this Act,
any  report  of  examination,  visitation,  or  investigation
prepared by the state regulatory authority of  another  state
that  examines  a branch of an Illinois State savings bank in
that state, any document or record prepared  or  obtained  in
connection  with  or relating to any examination, visitation,
or investigation, and any record prepared or obtained by  the
Commissioner  to  the  extent  that  the record summarizes or
contains information derived from any  report,  document,  or
record   described   in   this  subsection  shall  be  deemed
confidential    supervisory    information.     "Confidential
supervisory information" shall not include any information or
record routinely prepared by a savings bank and maintained in
the  ordinary course of business or any information or record
that is required to be made publicly  available  pursuant  to
State  or  federal  law  or  rule.  Confidential  supervisory
information  shall  be  the  property of the Commissioner and
shall only be disclosed under the circumstances and  for  the
purposes set forth in this Section.
    The  Commissioner  may  disclose confidential supervisory
information only under the following circumstances:
         (1)  The  Commissioner  may   furnish   confidential
    supervisory  information  to federal and state depository
    institution  regulators,  or  any  official  or  examiner
    thereof  duly  accredited  for   the   purpose.   Nothing
    contained  in  this  Act  shall be construed to limit the
    obligation  of  any  savings  bank  to  comply  with  the
    requirements relative to examinations and reports nor  to
    limit  in any way the powers of the Commissioner relative
    to examinations and reports.
         (2)  The  Commissioner  may   furnish   confidential
    supervisory  information  to  the  United  States  or any
    agency thereof that to any extent has insured  a  savings
    bank's deposits, or any official or examiner thereof duly
    accredited for the purpose. Nothing contained in this Act
    shall  be  construed  to limit the obligation relative to
    examinations and reports of any  savings  bank  in  which
    deposits  are  to any extent insured by the United States
    or any agency thereof nor to limit in any way the  powers
    of  the  Commissioner  with  reference to examination and
    reports of the savings bank.
         (3)  The  Commissioner  may   furnish   confidential
    supervisory    information   to   the   appropriate   law
    enforcement authorities when the Commissioner  reasonably
    believes  a  savings  bank,  which  the  Commissioner has
    caused to be examined, has been a victim of a crime.
         (4)  The  Commissioner  may   furnish   confidential
    supervisory  information related to a savings bank, which
    the Commissioner  has  caused  to  be  examined,  to  the
    administrator  of  the  Uniform  Disposition of Unclaimed
    Property Act.
         (5)  The  Commissioner  may   furnish   confidential
    supervisory information relating to a savings bank, which
    the  Commissioner  has caused to be examined, relating to
    its performance of obligations under the Illinois  Income
    Tax  Act  and the Illinois Estate and Generation-Skipping
    Transfer Tax Act to the Illinois Department of Revenue.
         (6)  The  Commissioner  may   furnish   confidential
    supervisory information relating to a savings bank, which
    the  Commissioner  has  caused  to be examined, under the
    federal Currency and Foreign Transactions Reporting  Act,
    31 United States Code, Section 1051 et seq.
         (7)  The   Commissioner   may  furnish  confidential
    supervisory information to any  other  agency  or  entity
    that  the  Commissioner  determines  to have a legitimate
    regulatory interest.
         (8)  The  Commissioner  may   furnish   confidential
    supervisory   information   as   otherwise  permitted  or
    required  by  this  Act  and  may  furnish   confidential
    supervisory  information  under any other statute that by
    its  terms  or  by  regulations  promulgated   thereunder
    requires  the  disclosure of financial records other than
    by subpoena, summons, warrant, or court order.
         (9)  At the request of the  affected  savings  bank,
    the  Commissioner  may  furnish  confidential supervisory
    information relating  to  the  savings  bank,  which  the
    Commissioner  has  caused  to  be examined, in connection
    with the obtaining of insurance coverage or  the  pursuit
    of  an  insurance  claim  for or on behalf of the savings
    bank; provided  that,  when  possible,  the  Commissioner
    shall    disclose   only   relevant   information   while
    maintaining the confidentiality of financial records  not
    relevant  to  such  insurance coverage or claim and, when
    appropriate, may delete identifying data relating to  any
    person.
         (10)  The  Commissioner  may  furnish  a  copy  of a
    report of any examination performed by  the  Commissioner
    of  the  condition  and  affairs  of  any electronic data
    processing entity to the savings banks  serviced  by  the
    electronic data processing entity.
         (11)  In  addition  to  the foregoing circumstances,
    the Commissioner may, but is  not  required  to,  furnish
    confidential   supervisory  information  under  the  same
    circumstances authorized for the savings bank pursuant to
    subsection  (b)  of  this  Section,   except   that   the
    Commissioner   shall   provide  confidential  supervisory
    information under circumstances  described  in  paragraph
    (3)  of  subsection  (b)  of  this  Section only upon the
    request of the savings bank.
    (b)  A  savings  bank  or  its  officers,   agents,   and
employees  may  disclose confidential supervisory information
only under the following circumstances:
         (1)  to the board of directors of the savings  bank,
    as  well  as  the president, vice-president, cashier, and
    other officers of the savings bank to whom the  board  of
    directors  may delegate duties with respect to compliance
    with recommendations for action,  and  to  the  board  of
    directors  of a savings bank holding company that owns at
    least 80% of the outstanding stock of the savings bank or
    other financial institution.
         (2)  to attorneys for the  savings  bank  and  to  a
    certified  public  accountant engaged by the savings bank
    to  perform  an  independent  audit;  provided  that  the
    attorney or certified public accountant shall not  permit
    the  confidential  supervisory  information to be further
    disseminated.
         (3)  to  any  person  who   seeks   to   acquire   a
    controlling  interest in, or who seeks to merge with, the
    savings bank; provided that the person shall agree to  be
    bound  to respect the confidentiality of the confidential
    supervisory information and to  not  further  disseminate
    the information other than to attorneys, certified public
    accountants,  officers,  agents,  or  employees  of  that
    person  who  likewise  shall agree to be bound to respect
    the  confidentiality  of  the  confidential   supervisory
    information   and   to   not   further   disseminate  the
    information.
         (4)  to the savings bank's insurance company, if the
    supervisory  information  contains  information  that  is
    otherwise  unavailable  and  is  strictly  necessary   to
    obtaining  insurance  coverage  or  pursuing an insurance
    claim for or on behalf  of  the  savings  bank;  provided
    that, when possible, the savings bank shall disclose only
    information  that  is  relevant  to  obtaining  insurance
    coverage   or   pursuing   an   insurance   claim,  while
    maintaining the confidentiality of financial  information
    pertaining  to customers; and provided further that, when
    appropriate, the savings bank may delete identifying data
    relating to any person.
    The disclosure of confidential supervisory information by
a savings bank  pursuant  to  this  subsection  (b)  and  the
disclosure  of  information  to  the  Commissioner  or  other
regulatory   agency   in  connection  with  any  examination,
visitation, or investigation shall not constitute a waiver of
any legal privilege otherwise available to the  savings  bank
with respect to the information.
    (c)  (1)  Notwithstanding any other provision of this Act
or any other law, confidential supervisory information  shall
be  the  property of the Commissioner and shall be privileged
from disclosure to any person  except  as  provided  in  this
Section.  No person in possession of confidential supervisory
information may disclose that information for any  reason  or
under any circumstances not specified in this Section without
the  prior authorization of the Commissioner. Any person upon
whom a demand  for  production  of  confidential  supervisory
information  is  made,  whether  by subpoena, order, or other
judicial or administrative process, must withhold  production
of  the  confidential supervisory information and must notify
the  Commissioner  of  the  demand,   at   which   time   the
Commissioner  is  authorized  to intervene for the purpose of
enforcing the limitations of  this  Section  or  seeking  the
withdrawal or termination of the attempt to compel production
of the confidential supervisory information.
         (2)  Any  request  for  discovery  or  disclosure of
    confidential   supervisory   information,   whether    by
    subpoena,  order,  or  other  judicial  or administrative
    process, shall be  made  to  the  Commissioner,  and  the
    Commissioner  shall  determine  within 15 days whether to
    disclose  the  information  pursuant  to  procedures  and
    standards that the Commissioner shall establish by  rule.
    If the Commissioner determines that such information will
    not  be  disclosed,  the Commissioner's decision shall be
    subject to judicial review under the  provisions  of  the
    Administrative  Review  Law, and venue shall be in either
    Sangamon County or Cook County.
         (3)  Any court  order  that  compels  disclosure  of
    confidential  supervisory  information may be immediately
    appealed by the Commissioner,  and  the  order  shall  be
    automatically stayed pending the outcome of the appeal.
    (d)  If  any  officer,  agent, attorney, or employee of a
savings bank knowingly and willfully  furnishes  confidential
supervisory  information  in  violation  of this Section, the
Commissioner may impose a civil monetary penalty up to $1,000
for the violation against the officer,  agent,  attorney,  or
employee.   Disclosure   of  examination  reports  and  other
records.
    (a)  Except   as   provided   in   subsection   (b)   the
Commissioner may disclose information gathered by examination
of and through reports from a savings bank only to the  board
of  directors  of  the  savings bank, other federal and state
financial   services   regulators,   law    enforcement    or
prosecutorial  agencies,  and  the savings bank's independent
licensed public accountants.
    (e) (b)  Subject to  the  limits  of  this  Section,  the
Commissioner   also   may   promulgate   regulations  to  set
procedures and standards for allow disclosure of  other  than
as  provided  in  subsection  (a), but only for the following
items:
         (1)  All fixed orders and opinions made in cases  of
    appeals of the Commissioner's actions.
         (2)  Statements   of   policy   and  interpretations
    adopted by the Commissioner's office, but  not  otherwise
    made public.
         (3)  Nonconfidential  portions of application files,
    including   applications   for   new    charters.     The
    Commissioner shall specify by rule as to what part of the
    files are confidential.
         (4)  Quarterly  reports  of  income,  deposits,  and
    financial condition.
(Source: P.A. 86-1213.)

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

Effective Date: 07/22/03