Illinois 2025-2026 Regular Session

Illinois House Bill HB3467 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	HB3467 EngrossedLRB104 10334 BAB 20408 b HB3467 Engrossed LRB104 10334 BAB 20408 b
2		-	HB3467 Engrossed LRB104 10334 BAB 20408 b
	1	+	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3467 Introduced , by Rep. Dagmara Avelar SYNOPSIS AS INTRODUCED: See Index Amends the Illinois Banking Act. Makes changes to the membership of the State Banking Board of Illinois. Provides that a bank may borrow or incur an obligation and pledge assets to secure deposits. Provides that a bank may provide data processing services to a person for profit. Provides that a bank may invest in financial futures or options transactions. Provides that the board of directors of a bank may provide by resolution that stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a person who makes, or causes to be made, a false statement or false entry with intent to deceive any person or persons authorized to examine into the affairs of the bank or the subsidiary or holding company of that bank, the branch of an out-of-state bank with intent to deceive the Commissioner of Banks and Real Estate or his administrative officers in the performance of their duties under the Act shall be subject to civil penalties imposed by the Commissioner (rather than be guilty of a Class 3 felony). Provides that the Board may authorize the transfer of funds from the Bank and Trust Company Fund. Amends the Savings Bank Act. Provides that the board of directors of a savings bank may provide by resolution that members or stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a savings bank may loan funds through the purchase of fixed rate annuity contracts. Provides that a savings bank may accept deposits made by a minor and may open an account in the name of the minor, and the rules and regulations of the savings bank with respect to each deposit and account shall be as binding upon the minor as if the minor were of full age and legal capacity. Makes changes to various provisions concerning notice to allow for electronic notice. Makes other changes. Amends the Illinois Credit Union Act. Does not prohibit the furnishing of financial records of a deceased member to a public administrator of any county or other governmental jurisdiction for the purpose of facilitating burial of the customer. Makes other changes. Effective immediately. LRB104 10334 BAB 20408 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3467 Introduced , by Rep. Dagmara Avelar SYNOPSIS AS INTRODUCED: See Index See Index Amends the Illinois Banking Act. Makes changes to the membership of the State Banking Board of Illinois. Provides that a bank may borrow or incur an obligation and pledge assets to secure deposits. Provides that a bank may provide data processing services to a person for profit. Provides that a bank may invest in financial futures or options transactions. Provides that the board of directors of a bank may provide by resolution that stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a person who makes, or causes to be made, a false statement or false entry with intent to deceive any person or persons authorized to examine into the affairs of the bank or the subsidiary or holding company of that bank, the branch of an out-of-state bank with intent to deceive the Commissioner of Banks and Real Estate or his administrative officers in the performance of their duties under the Act shall be subject to civil penalties imposed by the Commissioner (rather than be guilty of a Class 3 felony). Provides that the Board may authorize the transfer of funds from the Bank and Trust Company Fund. Amends the Savings Bank Act. Provides that the board of directors of a savings bank may provide by resolution that members or stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a savings bank may loan funds through the purchase of fixed rate annuity contracts. Provides that a savings bank may accept deposits made by a minor and may open an account in the name of the minor, and the rules and regulations of the savings bank with respect to each deposit and account shall be as binding upon the minor as if the minor were of full age and legal capacity. Makes changes to various provisions concerning notice to allow for electronic notice. Makes other changes. Amends the Illinois Credit Union Act. Does not prohibit the furnishing of financial records of a deceased member to a public administrator of any county or other governmental jurisdiction for the purpose of facilitating burial of the customer. Makes other changes. Effective immediately. LRB104 10334 BAB 20408 b LRB104 10334 BAB 20408 b A BILL FOR
	2	+	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3467 Introduced , by Rep. Dagmara Avelar SYNOPSIS AS INTRODUCED:
	3	+	See Index See Index
	4	+	See Index
	5	+	Amends the Illinois Banking Act. Makes changes to the membership of the State Banking Board of Illinois. Provides that a bank may borrow or incur an obligation and pledge assets to secure deposits. Provides that a bank may provide data processing services to a person for profit. Provides that a bank may invest in financial futures or options transactions. Provides that the board of directors of a bank may provide by resolution that stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a person who makes, or causes to be made, a false statement or false entry with intent to deceive any person or persons authorized to examine into the affairs of the bank or the subsidiary or holding company of that bank, the branch of an out-of-state bank with intent to deceive the Commissioner of Banks and Real Estate or his administrative officers in the performance of their duties under the Act shall be subject to civil penalties imposed by the Commissioner (rather than be guilty of a Class 3 felony). Provides that the Board may authorize the transfer of funds from the Bank and Trust Company Fund. Amends the Savings Bank Act. Provides that the board of directors of a savings bank may provide by resolution that members or stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a savings bank may loan funds through the purchase of fixed rate annuity contracts. Provides that a savings bank may accept deposits made by a minor and may open an account in the name of the minor, and the rules and regulations of the savings bank with respect to each deposit and account shall be as binding upon the minor as if the minor were of full age and legal capacity. Makes changes to various provisions concerning notice to allow for electronic notice. Makes other changes. Amends the Illinois Credit Union Act. Does not prohibit the furnishing of financial records of a deceased member to a public administrator of any county or other governmental jurisdiction for the purpose of facilitating burial of the customer. Makes other changes. Effective immediately.
	6	+	LRB104 10334 BAB 20408 b LRB104 10334 BAB 20408 b
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	8	+	A BILL FOR
	9	+	HB3467LRB104 10334 BAB 20408 b HB3467 LRB104 10334 BAB 20408 b
	10	+	HB3467 LRB104 10334 BAB 20408 b
3	11		1 AN ACT concerning regulation.
4	12		2 Be it enacted by the People of the State of Illinois,
5	13		3 represented in the General Assembly:
6	14		4 Section 5. The Illinois Banking Act is amended by changing
7	15		5 Sections 2, 5, 13, 15, 16, 16.5, 32.1, 48, 48.1, and 48.2 as
8	16		6 follows:
9	17		7 (205 ILCS 5/2) (from Ch. 17, par. 302)
10	18		8 Sec. 2. General definitions. In this Act, unless the
11	19		9 context otherwise requires, the following words and phrases
12	20		10 shall have the following meanings:
13	21		11 "Accommodation party" shall have the meaning ascribed to
14	22		12 that term in Section 3-419 of the Uniform Commercial Code.
15	23		13 "Action" in the sense of a judicial proceeding includes
16	24		14 recoupments, counterclaims, set-off, and any other proceeding
17	25		15 in which rights are determined.
18	26		16 "Affiliate facility" of a bank means a main banking
19	27		17 premises or branch of another commonly owned bank. The main
20	28		18 banking premises or any branch of a bank may be an "affiliate
21	29		19 facility" with respect to one or more other commonly owned
22	30		20 banks.
23	31		21 "Appropriate federal banking agency" means the Federal
24	32		22 Deposit Insurance Corporation, the Federal Reserve Bank of
25	33		23 Chicago, or the Federal Reserve Bank of St. Louis, as
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27	35
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	37	+	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB3467 Introduced , by Rep. Dagmara Avelar SYNOPSIS AS INTRODUCED:
	38	+	See Index See Index
	39	+	See Index
	40	+	Amends the Illinois Banking Act. Makes changes to the membership of the State Banking Board of Illinois. Provides that a bank may borrow or incur an obligation and pledge assets to secure deposits. Provides that a bank may provide data processing services to a person for profit. Provides that a bank may invest in financial futures or options transactions. Provides that the board of directors of a bank may provide by resolution that stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a person who makes, or causes to be made, a false statement or false entry with intent to deceive any person or persons authorized to examine into the affairs of the bank or the subsidiary or holding company of that bank, the branch of an out-of-state bank with intent to deceive the Commissioner of Banks and Real Estate or his administrative officers in the performance of their duties under the Act shall be subject to civil penalties imposed by the Commissioner (rather than be guilty of a Class 3 felony). Provides that the Board may authorize the transfer of funds from the Bank and Trust Company Fund. Amends the Savings Bank Act. Provides that the board of directors of a savings bank may provide by resolution that members or stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a savings bank may loan funds through the purchase of fixed rate annuity contracts. Provides that a savings bank may accept deposits made by a minor and may open an account in the name of the minor, and the rules and regulations of the savings bank with respect to each deposit and account shall be as binding upon the minor as if the minor were of full age and legal capacity. Makes changes to various provisions concerning notice to allow for electronic notice. Makes other changes. Amends the Illinois Credit Union Act. Does not prohibit the furnishing of financial records of a deceased member to a public administrator of any county or other governmental jurisdiction for the purpose of facilitating burial of the customer. Makes other changes. Effective immediately.
	41	+	LRB104 10334 BAB 20408 b LRB104 10334 BAB 20408 b
	42	+	LRB104 10334 BAB 20408 b
	43	+	A BILL FOR
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	49	+	See Index
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34	68		1 determined by federal law.
35	69		2 "Bank" means any person doing a banking business whether
36	70		3 subject to the laws of this or any other jurisdiction.
37	71		4 A "banking house", "branch", "branch bank", or "branch
38	72		5 office" shall mean any place of business of a bank at which
39	73		6 deposits are received, checks paid, or loans made, but shall
40	74		7 not include any place at which only records thereof are made,
41	75		8 posted, or kept. A place of business at which deposits are
42	76		9 received, checks paid, or loans made shall not be deemed to be
43	77		10 a branch, branch bank, or branch office if the place of
44	78		11 business is adjacent to and connected with the main banking
45	79		12 premises, or if it is separated from the main banking premises
46	80		13 by not more than an alley; provided always that (i) if the
47	81		14 place of business is separated by an alley from the main
48	82		15 banking premises there is a connection between the 2 two by
49	83		16 public or private way or by subterranean or overhead passage,
50	84		17 and (ii) if the place of business is in a building not wholly
51	85		18 occupied by the bank, the place of business shall not be within
52	86		19 any office or room in which any other business or service of
53	87		20 any kind or nature other than the business of the bank is
54	88		21 conducted or carried on. A place of business at which deposits
55	89		22 are received, checks paid, or loans made shall not be deemed to
56	90		23 be a branch, branch bank, or branch office (i) of any bank if
57	91		24 the place is a terminal established and maintained in
58	92		25 accordance with paragraph (17) of Section 5 of this Act, or
59	93		26 (ii) of a commonly owned bank by virtue of transactions
60	94
61	95
62	96
63	97
64	98
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70	104		1 conducted at that place on behalf of the other commonly owned
71	105		2 bank under paragraph (23) of Section 5 of this Act if the place
72	106		3 is an affiliate facility with respect to the other bank.
73	107		4 "Branch of an out-of-state bank" means a branch
74	108		5 established or maintained in Illinois by an out-of-state bank
75	109		6 as a result of a merger between an Illinois bank and the
76	110		7 out-of-state bank that occurs on or after May 31, 1997, or any
77	111		8 branch established by the out-of-state bank following the
78	112		9 merger.
79	113		10 "Bylaws" means the bylaws of a bank that are adopted by the
80	114		11 bank's board of directors or shareholders for the regulation
81	115		12 and management of the bank's affairs. If the bank operates as a
82	116		13 limited liability company, however, "bylaws" means the
83	117		14 operating agreement of the bank.
84	118		15 "Call report fee" means the fee to be paid to the
85	119		16 Commissioner by each State bank pursuant to paragraph (a) of
86	120		17 subsection (3) of Section 48 of this Act.
87	121		18 "Capital" includes the aggregate of outstanding capital
88	122		19 stock and preferred stock.
89	123		20 "Cash flow reserve account" means the account within the
90	124		21 books and records of the Commissioner of Banks and Real Estate
91	125		22 used to record funds designated to maintain a reasonable Bank
92	126		23 and Trust Company Fund operating balance to meet agency
93	127		24 obligations on a timely basis.
94	128		25 "Charter" includes the original charter and all amendments
95	129		26 thereto and articles of merger or consolidation.
96	130
97	131
98	132
99	133
100	134
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106	140		1 "Commissioner" means the Commissioner of Banks and Real
107	141		2 Estate, except that beginning on April 6, 2009 (the effective
108	142		3 date of Public Act 95-1047), all references in this Act to the
109	143		4 Commissioner of Banks and Real Estate are deemed, in
110	144		5 appropriate contexts, to be references to the Secretary of
111	145		6 Financial and Professional Regulation.
112	146		7 "Commonly owned banks" means 2 or more banks that each
113	147		8 qualify as a bank subsidiary of the same bank holding company
114	148		9 pursuant to Section 18 of the Federal Deposit Insurance Act;
115	149		10 "commonly owned bank" refers to one of a group of commonly
116	150		11 owned banks but only with respect to one or more of the other
117	151		12 banks in the same group.
118	152		13 "Community" means a city, village, or incorporated town
119	153		14 and also includes the area served by the banking offices of a
120	154		15 bank, but need not be limited or expanded to conform to the
121	155		16 geographic boundaries of units of local government.
122	156		17 "Company" means a corporation, limited liability company,
123	157		18 partnership, business trust, association, or similar
124	158		19 organization and, unless specifically excluded, includes a
125	159		20 "State bank" and a "bank".
126	160		21 "Consolidating bank" means a party to a consolidation.
127	161		22 "Consolidation" takes place when 2 or more banks, or a
128	162		23 trust company and a bank, are extinguished and by the same
129	163		24 process a new bank is created, taking over the assets and
130	164		25 assuming the liabilities of the banks or trust company passing
131	165		26 out of existence.
132	166
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142	176		1 "Continuing bank" means a merging bank, the charter of
143	177		2 which becomes the charter of the resulting bank.
144	178		3 "Converting bank" means a State bank converting to become
145	179		4 a national bank, or a national bank converting to become a
146	180		5 State bank.
147	181		6 "Converting trust company" means a trust company
148	182		7 converting to become a State bank.
149	183		8 "Court" means a court of competent jurisdiction.
150	184		9 "Director" means a member of the board of directors of a
151	185		10 bank. In the case of a manager-managed limited liability
152	186		11 company, however, "director" means a manager of the bank and,
153	187		12 in the case of a member-managed limited liability company,
154	188		13 "director" means a member of the bank. The term "director"
155	189		14 does not include an advisory director, honorary director,
156	190		15 director emeritus, or similar person, unless the person is
157	191		16 otherwise performing functions similar to those of a member of
158	192		17 the board of directors.
159	193		18 "Director of Banking" means the Director of the Division
160	194		19 of Banking of the Department of Financial and Professional
161	195		20 Regulation.
162	196		21 "Eligible depository institution" means an insured savings
163	197		22 association that is in default, an insured savings association
164	198		23 that is in danger of default, a State or national bank that is
165	199		24 in default or a State or national bank that is in danger of
166	200		25 default, as those terms are defined in this Section, or a new
167	201		26 bank as that term is defined in Section 11(m) of the Federal
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178	212		1 Deposit Insurance Act or a bridge bank as that term is defined
179	213		2 in Section 11(n) of the Federal Deposit Insurance Act or a new
180	214		3 federal savings association authorized under Section
181	215		4 11(d)(2)(f) of the Federal Deposit Insurance Act.
182	216		5 "Fiduciary" means trustee, agent, executor, administrator,
183	217		6 committee, guardian for a minor or for a person under legal
184	218		7 disability, receiver, trustee in bankruptcy, assignee for
185	219		8 creditors, or any holder of similar position of trust.
186	220		9 "Financial institution" means a bank, savings bank,
187	221		10 savings and loan association, credit union, or any licensee
188	222		11 under the Consumer Installment Loan Act or the Sales Finance
189	223		12 Agency Act and, for purposes of Section 48.3, any proprietary
190	224		13 network, funds transfer corporation, or other entity providing
191	225		14 electronic funds transfer services, or any corporate
192	226		15 fiduciary, its subsidiaries, affiliates, parent company, or
193	227		16 contractual service provider that is examined by the
194	228		17 Commissioner. For purposes of Section 5c and subsection (b) of
195	229		18 Section 13 of this Act, "financial institution" includes any
196	230		19 proprietary network, funds transfer corporation, or other
197	231		20 entity providing electronic funds transfer services, and any
198	232		21 corporate fiduciary.
199	233		22 "Foundation" means the Illinois Bank Examiners' Education
200	234		23 Foundation.
201	235		24 "General obligation" means a bond, note, debenture,
202	236		25 security, or other instrument evidencing an obligation of the
203	237		26 government entity that is the issuer that is supported by the
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214	248		1 full available resources of the issuer, the principal and
215	249		2 interest of which is payable in whole or in part by taxation.
216	250		3 "Guarantee" means an undertaking or promise to answer for
217	251		4 payment of another's debt or performance of another's duty,
218	252		5 liability, or obligation whether "payment guaranteed" or
219	253		6 "collection guaranteed".
220	254		7 "In danger of default" means a State or national bank, a
221	255		8 federally chartered insured savings association, or an
222	256		9 Illinois state chartered insured savings association with
223	257		10 respect to which the Commissioner or the appropriate federal
224	258		11 banking agency has advised the Federal Deposit Insurance
225	259		12 Corporation that:
226	260		13 (1) in the opinion of the Commissioner or the
227	261		14 appropriate federal banking agency,
228	262		15 (A) the State or national bank or insured savings
229	263		16 association is not likely to be able to meet the
230	264		17 demands of the State or national bank's or savings
231	265		18 association's obligations in the normal course of
232	266		19 business; and
233	267		20 (B) there is no reasonable prospect that the State
234	268		21 or national bank or insured savings association will
235	269		22 be able to meet those demands or pay those obligations
236	270		23 without federal assistance; or
237	271		24 (2) in the opinion of the Commissioner or the
238	272		25 appropriate federal banking agency,
239	273		26 (A) the State or national bank or insured savings
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250	284		1 association has incurred or is likely to incur losses
251	285		2 that will deplete all or substantially all of its
252	286		3 capital; and
253	287		4 (B) there is no reasonable prospect that the
254	288		5 capital of the State or national bank or insured
255	289		6 savings association will be replenished without
256	290		7 federal assistance.
257	291		8 "In default" means, with respect to a State or national
258	292		9 bank or an insured savings association, any adjudication or
259	293		10 other official determination by any court of competent
260	294		11 jurisdiction, the Commissioner, the appropriate federal
261	295		12 banking agency, or other public authority pursuant to which a
262	296		13 conservator, receiver, or other legal custodian is appointed
263	297		14 for a State or national bank or an insured savings
264	298		15 association.
265	299		16 "Insured savings association" means any federal savings
266	300		17 association chartered under Section 5 of the federal Home
267	301		18 Owners' Loan Act and any State savings association chartered
268	302		19 under the Illinois Savings and Loan Act of 1985 or a
269	303		20 predecessor Illinois statute, the deposits of which are
270	304		21 insured by the Federal Deposit Insurance Corporation. The term
271	305		22 also includes a savings bank organized or operating under the
272	306		23 Savings Bank Act.
273	307		24 "Insured savings association in recovery" means an insured
274	308		25 savings association that is not an eligible depository
275	309		26 institution and that does not meet the minimum capital
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	318	+	HB3467- 9 -LRB104 10334 BAB 20408 b HB3467 - 9 - LRB104 10334 BAB 20408 b
	319	+	HB3467 - 9 - LRB104 10334 BAB 20408 b
286	320		1 requirements applicable with respect to the insured savings
287	321		2 association.
288	322		3 "Issuer" means for purposes of Section 33 every person who
289	323		4 shall have issued or proposed to issue any security; except
290	324		5 that (1) with respect to certificates of deposit, voting trust
291	325		6 certificates, collateral-trust certificates, and certificates
292	326		7 of interest or shares in an unincorporated investment trust
293	327		8 not having a board of directors (or persons performing similar
294	328		9 functions), "issuer" means the person or persons performing
295	329		10 the acts and assuming the duties of depositor or manager
296	330		11 pursuant to the provisions of the trust, agreement, or
297	331		12 instrument under which the securities are issued; (2) with
298	332		13 respect to trusts other than those specified in clause (1)
299	333		14 above, where the trustee is a corporation authorized to accept
300	334		15 and execute trusts, "issuer" means the entrusters, depositors,
301	335		16 or creators of the trust and any manager or committee charged
302	336		17 with the general direction of the affairs of the trust
303	337		18 pursuant to the provisions of the agreement or instrument
304	338		19 creating the trust; and (3) with respect to equipment trust
305	339		20 certificates or like securities, "issuer" means the person to
306	340		21 whom the equipment or property is or is to be leased or
307	341		22 conditionally sold.
308	342		23 "Letter of credit" and "customer" shall have the same
309	343		24 meaning as that term is given meanings ascribed to those terms
310	344		25 in Section 5-102 of the Uniform Commercial Code.
311	345		26 "Main banking premises" means the location that is
312	346
313	347
314	348
315	349
316	350
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318		-
319		-
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321		-	HB3467 ~~Engrossed~~ - 10 - LRB104 10334 BAB 20408 b
	351	+	HB3467 - 9 - LRB104 10334 BAB 20408 b
	352	+
	353	+
	354	+	HB3467- 10 -LRB104 10334 BAB 20408 b HB3467 - 10 - LRB104 10334 BAB 20408 b
	355	+	HB3467 - 10 - LRB104 10334 BAB 20408 b
322	356		1 designated in a bank's charter as its main office.
323	357		2 "Maker or obligor" means for purposes of Section 33 the
324	358		3 issuer of a security, the promisor in a debenture or other debt
325	359		4 security, or the mortgagor or grantor of a trust deed or
326	360		5 similar conveyance of a security interest in real or personal
327	361		6 property.
328	362		7 "Merged bank" means a merging bank that is not the
329	363		8 continuing, resulting, or surviving bank in a consolidation or
330	364		9 merger.
331	365		10 "Merger" includes consolidation.
332	366		11 "Merging bank" means a party to a bank merger.
333	367		12 "Merging trust company" means a trust company party to a
334	368		13 merger with a State bank.
335	369		14 "Mid-tier bank holding company" means a corporation that
336	370		15 (a) owns 100% of the issued and outstanding shares of each
337	371		16 class of stock of a State bank, (b) has no other subsidiaries,
338	372		17 and (c) 100% of the issued and outstanding shares of the
339	373		18 corporation are owned by a parent bank holding company.
340	374		19 "Municipality" means any municipality, political
341	375		20 subdivision, school district, taxing district, or agency.
342	376		21 "National bank" means a national banking association
343	377		22 located in this State and after May 31, 1997, means a national
344	378		23 banking association without regard to its location.
345	379		24 "Out-of-state bank" means a bank chartered under the laws
346	380		25 of a state other than Illinois, a territory of the United
347	381		26 States, or the District of Columbia.
348	382
349	383
350	384
351	385
352	386
353		-	HB3467 ~~Engrossed~~ - 10 - LRB104 10334 BAB 20408 b
354		-
355		-
356		-	HB3467 ~~Engrossed~~- 11 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 11 - LRB104 10334 BAB 20408 b
357		-	HB3467 ~~Engrossed~~ - 11 - LRB104 10334 BAB 20408 b
	387	+	HB3467 - 10 - LRB104 10334 BAB 20408 b
	388	+
	389	+
	390	+	HB3467- 11 -LRB104 10334 BAB 20408 b HB3467 - 11 - LRB104 10334 BAB 20408 b
	391	+	HB3467 - 11 - LRB104 10334 BAB 20408 b
358	392		1 "Parent bank holding company" means a corporation that is
359	393		2 a bank holding company as that term is defined in the Illinois
360	394		3 Bank Holding Company Act of 1957 and owns 100% of the issued
361	395		4 and outstanding shares of a mid-tier bank holding company.
362	396		5 "Person" means an individual, corporation, limited
363	397		6 liability company, partnership, joint venture, trust, estate,
364	398		7 or unincorporated association.
365	399		8 "Public agency" means the State of Illinois, the various
366	400		9 counties, townships, cities, towns, villages, school
367	401		10 districts, educational service regions, special road
368	402		11 districts, public water supply districts, fire protection
369	403		12 districts, drainage districts, levee districts, sewer
370	404		13 districts, housing authorities, the Illinois Bank Examiners'
371	405		14 Education Foundation, the Chicago Park District, and all other
372	406		15 political corporations or subdivisions of the State of
373	407		16 Illinois, whether now or hereafter created, whether herein
374	408		17 specifically mentioned or not, and shall also include any
375	409		18 other state or any political corporation or subdivision of
376	410		19 another state.
377	411		20 "Public funds" or "public money" means current operating
378	412		21 funds, special funds, interest and sinking funds, and funds of
379	413		22 any kind or character belonging to, in the custody of, or
380	414		23 subject to the control or regulation of the United States or a
381	415		24 public agency. "Public funds" or "public money" shall include
382	416		25 funds held by any of the officers, agents, or employees of the
383	417		26 United States or of a public agency in the course of their
384	418
385	419
386	420
387	421
388	422
389		-	HB3467 ~~Engrossed~~ - 11 - LRB104 10334 BAB 20408 b
390		-
391		-
392		-	HB3467 ~~Engrossed~~- 12 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 12 - LRB104 10334 BAB 20408 b
393		-	HB3467 ~~Engrossed~~ - 12 - LRB104 10334 BAB 20408 b
	423	+	HB3467 - 11 - LRB104 10334 BAB 20408 b
	424	+
	425	+
	426	+	HB3467- 12 -LRB104 10334 BAB 20408 b HB3467 - 12 - LRB104 10334 BAB 20408 b
	427	+	HB3467 - 12 - LRB104 10334 BAB 20408 b
394	428		1 official duties and, with respect to public money of the
395	429		2 United States, shall include Postal Savings funds.
396	430		3 "Published" means, unless the context requires otherwise,
397	431		4 the publishing of the notice or instrument referred to in some
398	432		5 newspaper of general circulation in the community in which the
399	433		6 bank is located at least once each week for 3 successive weeks.
400	434		7 Publishing shall be accomplished by, and at the expense of,
401	435		8 the bank required to publish. Where publishing is required,
402	436		9 the bank shall submit to the Commissioner that evidence of the
403	437		10 publication as the Commissioner shall deem appropriate.
404	438		11 "Qualified financial contract" means any security
405	439		12 contract, commodity contract, forward contract, including spot
406	440		13 and forward foreign exchange contracts, repurchase agreement,
407	441		14 swap agreement, and any similar agreement, any option to enter
408	442		15 into any such agreement, including any combination of the
409	443		16 foregoing, and any master agreement for such agreements. A
410	444		17 master agreement, together with all supplements thereto, shall
411	445		18 be treated as one qualified financial contract. The contract,
412	446		19 option, agreement, or combination of contracts, options, or
413	447		20 agreements shall be reflected upon the books, accounts, or
414	448		21 records of the bank, or a party to the contract shall provide
415	449		22 documentary evidence of such agreement.
416	450		23 "Recorded" means the filing or recording of the notice or
417	451		24 instrument referred to in the office of the Recorder of the
418	452		25 county wherein the bank is located.
419	453		26 "Resulting bank" means the bank resulting from a merger or
420	454
421	455
422	456
423	457
424	458
425		-	HB3467 ~~Engrossed~~ - 12 - LRB104 10334 BAB 20408 b
426		-
427		-
428		-	HB3467 ~~Engrossed~~- 13 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 13 - LRB104 10334 BAB 20408 b
429		-	HB3467 ~~Engrossed~~ - 13 - LRB104 10334 BAB 20408 b
	459	+	HB3467 - 12 - LRB104 10334 BAB 20408 b
	460	+
	461	+
	462	+	HB3467- 13 -LRB104 10334 BAB 20408 b HB3467 - 13 - LRB104 10334 BAB 20408 b
	463	+	HB3467 - 13 - LRB104 10334 BAB 20408 b
430	464		1 conversion.
431	465		2 "Secretary" means the Secretary of Financial and
432	466		3 Professional Regulation, or a person authorized by the
433	467		4 Secretary or by this Act to act in the Secretary's stead.
434	468		5 "Securities" means stocks, bonds, debentures, notes, or
435	469		6 other similar obligations.
436	470		7 "Stand-by letter of credit" means a letter of credit under
437	471		8 which drafts are payable upon the condition the customer has
438	472		9 defaulted in performance of a duty, liability, or obligation.
439	473		10 "State bank" means any banking corporation that has a
440	474		11 banking charter issued by the Commissioner under this Act.
441	475		12 "State Banking Board" means the State Banking Board of
442	476		13 Illinois.
443	477		14 "Subsidiary" with respect to a specified company means a
444	478		15 company that is controlled by the specified company. For
445	479		16 purposes of paragraphs (8) and (12) of Section 5 of this Act,
446	480		17 "control" means the exercise of operational or managerial
447	481		18 control of a corporation by the bank, either alone or together
448	482		19 with other affiliates of the bank.
449	483		20 "Surplus" means the aggregate of (i) amounts paid in
450	484		21 excess of the par value of capital stock and preferred stock;
451	485		22 (ii) amounts contributed other than for capital stock and
452	486		23 preferred stock and allocated to the surplus account; and
453	487		24 (iii) amounts transferred from undivided profits.
454	488		25 "Tier 1 Capital" and "Tier 2 Capital" have the meanings
455	489		26 assigned to those terms in regulations promulgated for the
456	490
457	491
458	492
459	493
460	494
461		-	HB3467 ~~Engrossed~~ - 13 - LRB104 10334 BAB 20408 b
462		-
463		-
464		-	HB3467 ~~Engrossed~~- 14 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 14 - LRB104 10334 BAB 20408 b
465		-	HB3467 ~~Engrossed~~ - 14 - LRB104 10334 BAB 20408 b
	495	+	HB3467 - 13 - LRB104 10334 BAB 20408 b
	496	+
	497	+
	498	+	HB3467- 14 -LRB104 10334 BAB 20408 b HB3467 - 14 - LRB104 10334 BAB 20408 b
	499	+	HB3467 - 14 - LRB104 10334 BAB 20408 b
466	500		1 appropriate federal banking agency of a state bank, as those
467	501		2 regulations are now or hereafter amended.
468	502		3 "Trust company" means a limited liability company or
469	503		4 corporation incorporated in this State for the purpose of
470	504		5 accepting and executing trusts.
471	505		6 "Undivided profits" means undistributed earnings less
472	506		7 discretionary transfers to surplus.
473	507		8 "Unimpaired capital and unimpaired surplus", for the
474	508		9 purposes of paragraph (21) of Section 5 and Sections 32, 33,
475	509		10 34, 35.1, 35.2, and 47 of this Act means the sum of the state
476	510		11 bank's Tier 1 Capital and Tier 2 Capital plus such other
477	511		12 shareholder equity as may be included by regulation of the
478	512		13 Commissioner. Unimpaired capital and unimpaired surplus shall
479	513		14 be calculated on the basis of the date of the last quarterly
480	514		15 call report filed with the Commissioner preceding the date of
481	515		16 the transaction for which the calculation is made, provided
482	516		17 that: (i) when a material event occurs after the date of the
483	517		18 last quarterly call report filed with the Commissioner that
484	518		19 reduces or increases the bank's unimpaired capital and
485	519		20 unimpaired surplus by 10% or more, then the unimpaired capital
486	520		21 and unimpaired surplus shall be calculated from the date of
487	521		22 the material event for a transaction conducted after the date
488	522		23 of the material event; and (ii) if the Commissioner determines
489	523		24 for safety and soundness reasons that a state bank should
490	524		25 calculate unimpaired capital and unimpaired surplus more
491	525		26 frequently than provided by this paragraph, the Commissioner
492	526
493	527
494	528
495	529
496	530
497		-	HB3467 ~~Engrossed~~ - 14 - LRB104 10334 BAB 20408 b
498		-
499		-
500		-	HB3467 ~~Engrossed~~- 15 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 15 - LRB104 10334 BAB 20408 b
501		-	HB3467 ~~Engrossed~~ - 15 - LRB104 10334 BAB 20408 b
	531	+	HB3467 - 14 - LRB104 10334 BAB 20408 b
	532	+
	533	+
	534	+	HB3467- 15 -LRB104 10334 BAB 20408 b HB3467 - 15 - LRB104 10334 BAB 20408 b
	535	+	HB3467 - 15 - LRB104 10334 BAB 20408 b
502	536		1 may by written notice direct the bank to calculate unimpaired
503	537		2 capital and unimpaired surplus at a more frequent interval. In
504	538		3 the case of a state bank newly chartered under Section 13 or a
505	539		4 state bank resulting from a merger, consolidation, or
506	540		5 conversion under Sections 21 through 26 for which no preceding
507	541		6 quarterly call report has been filed with the Commissioner,
508	542		7 unimpaired capital and unimpaired surplus shall be calculated
509	543		8 for the first calendar quarter on the basis of the effective
510	544		9 date of the charter, merger, consolidation, or conversion.
511	545		10 (Source: P.A. 95-924, eff. 8-26-08; 95-1047, eff. 4-6-09;
512	546		11 96-1000, eff. 7-2-10; 96-1163, eff. 1-1-11; revised 8-6-24.)
513	547		12 (205 ILCS 5/5) (from Ch. 17, par. 311)
514	548		13 Sec. 5. General corporate powers. A bank organized under
515	549		14 this Act or subject hereto shall be a body corporate and
516	550		15 politic and shall, without specific mention thereof in the
517	551		16 charter, have all the powers conferred by this Act and the
518	552		17 following additional general corporate powers:
519	553		18 (1) To sue and be sued, complain, and defend in its
520	554		19 corporate name.
521	555		20 (2) To have a corporate seal, which may be altered at
522	556		21 pleasure, and to use the same by causing it or a facsimile
523	557		22 thereof to be impressed or affixed or in any manner
524	558		23 reproduced, provided that the affixing of a corporate seal
525	559		24 to an instrument shall not give the instrument additional
526	560		25 force or effect, or change the construction thereof, and
527	561
528	562
529	563
530	564
531	565
532		-	HB3467 ~~Engrossed~~ - 15 - LRB104 10334 BAB 20408 b
533		-
534		-
535		-	HB3467 ~~Engrossed~~- 16 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 16 - LRB104 10334 BAB 20408 b
536		-	HB3467 ~~Engrossed~~ - 16 - LRB104 10334 BAB 20408 b
	566	+	HB3467 - 15 - LRB104 10334 BAB 20408 b
	567	+
	568	+
	569	+	HB3467- 16 -LRB104 10334 BAB 20408 b HB3467 - 16 - LRB104 10334 BAB 20408 b
	570	+	HB3467 - 16 - LRB104 10334 BAB 20408 b
537	571		1 the use of a corporate seal is not mandatory.
538	572		2 (3) To make, alter, amend, and repeal bylaws, not
539	573		3 inconsistent with its charter or with law, for the
540	574		4 administration of the affairs of the bank. If this Act
541	575		5 does not provide specific guidance in matters of corporate
542	576		6 governance, the provisions of the Business Corporation Act
543	577		7 of 1983 may be used if so provided in the bylaws, and if
544	578		8 the bank is a limited liability company, the provisions of
545	579		9 the Limited Liability Company Act shall be used.
546	580		10 (4) To elect or appoint and remove officers and agents
547	581		11 of the bank and define their duties and fix their
548	582		12 compensation.
549	583		13 (5) To adopt and operate reasonable bonus plans,
550	584		14 profit-sharing plans, stock-bonus plans, stock-option
551	585		15 plans, pension plans, and similar incentive plans for its
552	586		16 directors, officers and employees.
553	587		17 (5.1) To manage, operate, and administer a fund for
554	588		18 the investment of funds by a public agency or agencies,
555	589		19 including any unit of local government or school district,
556	590		20 or any person. The fund for a public agency shall invest in
557	591		21 the same type of investments and be subject to the same
558	592		22 limitations provided for the investment of public funds.
559	593		23 The fund for public agencies shall maintain a separate
560	594		24 ledger showing the amount of investment for each public
561	595		25 agency in the fund. "Public funds" and "public agency" as
562	596		26 used in this Section shall have the meanings ascribed to
563	597
564	598
565	599
566	600
567	601
568		-	HB3467 ~~Engrossed~~ - 16 - LRB104 10334 BAB 20408 b
569		-
570		-
571		-	HB3467 ~~Engrossed~~- 17 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 17 - LRB104 10334 BAB 20408 b
572		-	HB3467 ~~Engrossed~~ - 17 - LRB104 10334 BAB 20408 b
	602	+	HB3467 - 16 - LRB104 10334 BAB 20408 b
	603	+
	604	+
	605	+	HB3467- 17 -LRB104 10334 BAB 20408 b HB3467 - 17 - LRB104 10334 BAB 20408 b
	606	+	HB3467 - 17 - LRB104 10334 BAB 20408 b
573	607		1 them in Section 1 of the Public Funds Investment Act.
574	608		2 (6) To make reasonable donations for the public
575	609		3 welfare or for charitable, scientific, religious or
576	610		4 educational purposes.
577	611		5 (7) To borrow or incur an obligation; and to pledge
578	612		6 its assets:
579	613		7 (a) to secure its borrowings, its lease of
580	614		8 personal or real property or its other nondeposit
581	615		9 obligations;
582	616		10 (b) to enable it to act as agent for the sale of
583	617		11 obligations of the United States;
584	618		12 (c) to secure deposits of public money of the
585	619		13 United States, whenever required by the laws of the
586	620		14 United States, including, without being limited to,
587	621		15 revenues and funds the deposit of which is subject to
588	622		16 the control or regulation of the United States or any
589	623		17 of its officers, agents, or employees and Postal
590	624		18 Savings funds;
591	625		19 (d) to secure deposits of public money of any
592	626		20 state or of any political corporation or subdivision
593	627		21 thereof, including, without being limited to, revenues
594	628		22 and funds the deposit of which is subject to the
595	629		23 control or regulation of any state or of any political
596	630		24 corporation or subdivisions thereof or of any of their
597	631		25 officers, agents, or employees;
598	632		26 (e) to secure deposits of money whenever required
599	633
600	634
601	635
602	636
603	637
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605		-
606		-
607		-	HB3467 ~~Engrossed~~- 18 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 18 - LRB104 10334 BAB 20408 b
608		-	HB3467 ~~Engrossed~~ - 18 - LRB104 10334 BAB 20408 b
	638	+	HB3467 - 17 - LRB104 10334 BAB 20408 b
	639	+
	640	+
	641	+	HB3467- 18 -LRB104 10334 BAB 20408 b HB3467 - 18 - LRB104 10334 BAB 20408 b
	642	+	HB3467 - 18 - LRB104 10334 BAB 20408 b
609	643		1 by the National Bankruptcy Act;
610	644		2 (f) (blank); and
611	645		3 (g) to secure trust funds commingled with the
612	646		4 bank's funds, whether deposited by the bank or an
613	647		5 affiliate of the bank, pursuant to Section 2-8 of the
614	648		6 Corporate Fiduciary Act; and .
615	649		7 (h) to secure deposits.
616	650		8 (8) To own, possess, and carry as assets all or part of
617	651		9 the real estate necessary in or with which to do its
618	652		10 banking business, either directly or indirectly through
619	653		11 the ownership of all or part of the capital stock, shares
620	654		12 or interests in any corporation, association, trust
621	655		13 engaged in holding any part or parts or all of the bank
622	656		14 premises, engaged in such business and in conducting a
623	657		15 safe deposit business in the premises or part of them, or
624	658		16 engaged in any activity that the bank is permitted to
625	659		17 conduct in a subsidiary pursuant to paragraph (12) of this
626	660		18 Section 5.
627	661		19 (9) To own, possess, and carry as assets other real
628	662		20 estate to which it may obtain title in the collection of
629	663		21 its debts or that was formerly used as a part of the bank
630	664		22 premises, but title to any real estate except as herein
631	665		23 permitted may only shall not be retained by the bank,
632	666		24 either directly or by or through a subsidiary, as
633	667		25 permitted by subsection (12) of this Section for a total
634	668		26 period of more than 10 years after acquiring title or for a
635	669
636	670
637	671
638	672
639	673
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641		-
642		-
643		-	HB3467 ~~Engrossed~~- 19 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 19 - LRB104 10334 BAB 20408 b
644		-	HB3467 ~~Engrossed~~ - 19 - LRB104 10334 BAB 20408 b
	674	+	HB3467 - 18 - LRB104 10334 BAB 20408 b
	675	+
	676	+
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	678	+	HB3467 - 19 - LRB104 10334 BAB 20408 b
645	679		1 total period equal to the maximum period, including the
646	680		2 maximum extensions, permitted to a national bank under
647	681		3 federal law after acquiring title, whichever is greater,
648	682		4 either directly or indirectly.
649	683		5 (10) To do any act, including the acquisition of
650	684		6 stock, necessary to obtain insurance of its deposits, or
651	685		7 part thereof, and any act necessary to obtain a guaranty,
652	686		8 in whole or in part, of any of its loans or investments by
653	687		9 the United States or any agency thereof, and any act
654	688		10 necessary to sell or otherwise dispose of any of its loans
655	689		11 or investments to the United States or any agency thereof,
656	690		12 and to acquire and hold membership in the Federal Reserve
657	691		13 System.
658	692		14 (11) Notwithstanding any other provisions of this Act
659	693		15 or any other law, to do any act and to own, possess, and
660	694		16 carry as assets property of the character, including
661	695		17 stock, that is at the time authorized or permitted to
662	696		18 national banks by an Act of Congress, but subject always
663	697		19 to the same limitations and restrictions as are applicable
664	698		20 to national banks by the pertinent federal law and subject
665	699		21 to applicable provisions of the Financial Institutions
666	700		22 Insurance Sales Law.
667	701		23 (12) To own, possess, and carry as assets stock of one
668	702		24 or more corporations that is, or are, engaged in one or
669	703		25 more of the following businesses:
670	704		26 (a) holding title to and administering assets
671	705
672	706
673	707
674	708
675	709
676		-	HB3467 ~~Engrossed~~ - 19 - LRB104 10334 BAB 20408 b
677		-
678		-
679		-	HB3467 ~~Engrossed~~- 20 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 20 - LRB104 10334 BAB 20408 b
680		-	HB3467 ~~Engrossed~~ - 20 - LRB104 10334 BAB 20408 b
	710	+	HB3467 - 19 - LRB104 10334 BAB 20408 b
	711	+
	712	+
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	714	+	HB3467 - 20 - LRB104 10334 BAB 20408 b
681	715		1 acquired as a result of the collection or liquidating
682	716		2 of loans, investments, or discounts; or
683	717		3 (b) holding title to and administering personal
684	718		4 property acquired by the bank, directly or indirectly
685	719		5 through a subsidiary, for the purpose of leasing to
686	720		6 others, provided the lease or leases and the
687	721		7 investment of the bank, directly or through a
688	722		8 subsidiary, in that personal property otherwise comply
689	723		9 with Section 35.1 of this Act; or
690	724		10 (c) carrying on or administering any of the
691	725		11 activities excepting the receipt of deposits or the
692	726		12 payment of checks or other orders for the payment of
693	727		13 money in which a bank may engage in carrying on its
694	728		14 general banking business; provided, however, that
695	729		15 nothing contained in this paragraph (c) shall be
696	730		16 deemed to permit a bank organized under this Act or
697	731		17 subject hereto to do, either directly or indirectly
698	732		18 through any subsidiary, any act, including the making
699	733		19 of any loan or investment, or to own, possess, or carry
700	734		20 as assets any property that if done by or owned,
701	735		21 possessed, or carried by the State bank would be in
702	736		22 violation of or prohibited by any provision of this
703	737		23 Act.
704	738		24 The provisions of this subsection (12) shall not apply
705	739		25 to and shall not be deemed to limit the powers of a State
706	740		26 bank with respect to the ownership, possession, and
707	741
708	742
709	743
710	744
711	745
712		-	HB3467 ~~Engrossed~~ - 20 - LRB104 10334 BAB 20408 b
713		-
714		-
715		-	HB3467 ~~Engrossed~~- 21 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 21 - LRB104 10334 BAB 20408 b
716		-	HB3467 ~~Engrossed~~ - 21 - LRB104 10334 BAB 20408 b
	746	+	HB3467 - 20 - LRB104 10334 BAB 20408 b
	747	+
	748	+
	749	+	HB3467- 21 -LRB104 10334 BAB 20408 b HB3467 - 21 - LRB104 10334 BAB 20408 b
	750	+	HB3467 - 21 - LRB104 10334 BAB 20408 b
717	751		1 carrying of stock that a State bank is permitted to own,
718	752		2 possess, or carry under this Act.
719	753		3 Any bank intending to establish a subsidiary under
720	754		4 this subsection (12) shall give written notice to the
721	755		5 Commissioner 60 days prior to the subsidiary's commencing
722	756		6 of business or, as the case may be, prior to acquiring
723	757		7 stock in a corporation that has already commenced
724	758		8 business. After receiving the notice, the Commissioner may
725	759		9 waive or reduce the balance of the 60-day notice period.
726	760		10 The Commissioner may specify the form of the notice, may
727	761		11 designate the types of subsidiaries not subject to this
728	762		12 notice requirement, and may promulgate rules and
729	763		13 regulations to administer this subsection (12).
730	764		14 (13) To accept for payment at a future date not
731	765		15 exceeding one year from the date of acceptance, drafts
732	766		16 drawn upon it by its customers; and to issue, advise, or
733	767		17 confirm letters of credit authorizing the holders thereof
734	768		18 to draw drafts upon it or its correspondents.
735	769		19 (14) To own and lease personal property acquired by
736	770		20 the bank at the request of a prospective lessee and upon
737	771		21 the agreement of that person to lease the personal
738	772		22 property provided that the lease, the agreement with
739	773		23 respect thereto, and the amount of the investment of the
740	774		24 bank in the property comply with Section 35.1 of this Act.
741	775		25 (15)(a) To establish and maintain, in addition to the
742	776		26 main banking premises, branches offering any banking
743	777
744	778
745	779
746	780
747	781
748		-	HB3467 ~~Engrossed~~ - 21 - LRB104 10334 BAB 20408 b
749		-
750		-
751		-	HB3467 ~~Engrossed~~- 22 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 22 - LRB104 10334 BAB 20408 b
752		-	HB3467 ~~Engrossed~~ - 22 - LRB104 10334 BAB 20408 b
	782	+	HB3467 - 21 - LRB104 10334 BAB 20408 b
	783	+
	784	+
	785	+	HB3467- 22 -LRB104 10334 BAB 20408 b HB3467 - 22 - LRB104 10334 BAB 20408 b
	786	+	HB3467 - 22 - LRB104 10334 BAB 20408 b
753	787		1 services permitted at the main banking premises of a State
754	788		2 bank.
755	789		3 (b) To establish and maintain, after May 31, 1997,
756	790		4 branches in another state that may conduct any activity in
757	791		5 that state that is authorized or permitted for any bank
758	792		6 that has a banking charter issued by that state, subject
759	793		7 to the same limitations and restrictions that are
760	794		8 applicable to banks chartered by that state.
761	795		9 (16) (Blank).
762	796		10 (17) To establish and maintain terminals, as
763	797		11 authorized by the Electronic Fund Transfer Act.
764	798		12 (18) To establish and maintain temporary service
765	799		13 booths at any International Fair held in this State which
766	800		14 is approved by the United States Department of Commerce,
767	801		15 for the duration of the international fair for the sole
768	802		16 purpose of providing a convenient place for foreign trade
769	803		17 customers at the fair to exchange their home countries'
770	804		18 currency into United States currency or the converse. This
771	805		19 power shall not be construed as establishing a new place
772	806		20 or change of location for the bank providing the service
773	807		21 booth.
774	808		22 (19) To indemnify its officers, directors, employees,
775	809		23 and agents, as authorized for corporations under Section
776	810		24 8.75 of the Business Corporation Act of 1983.
777	811		25 (20) To own, possess, and carry as assets stock of, or
778	812		26 be or become a member of, any corporation, mutual company,
779	813
780	814
781	815
782	816
783	817
784		-	HB3467 ~~Engrossed~~ - 22 - LRB104 10334 BAB 20408 b
785		-
786		-
787		-	HB3467 ~~Engrossed~~- 23 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 23 - LRB104 10334 BAB 20408 b
788		-	HB3467 ~~Engrossed~~ - 23 - LRB104 10334 BAB 20408 b
	818	+	HB3467 - 22 - LRB104 10334 BAB 20408 b
	819	+
	820	+
	821	+	HB3467- 23 -LRB104 10334 BAB 20408 b HB3467 - 23 - LRB104 10334 BAB 20408 b
	822	+	HB3467 - 23 - LRB104 10334 BAB 20408 b
789	823		1 association, trust, or other entity formed exclusively for
790	824		2 the purpose of providing directors' and officers'
791	825		3 liability and bankers' blanket bond insurance or
792	826		4 reinsurance to and for the benefit of the stockholders,
793	827		5 members, or beneficiaries, or their assets or businesses,
794	828		6 or their officers, directors, employees, or agents, and
795	829		7 not to or for the benefit of any other person or entity or
796	830		8 the public generally.
797	831		9 (21) To make debt or equity investments in
798	832		10 corporations or projects, whether for profit or not for
799	833		11 profit, designed to promote the development of the
800	834		12 community and its welfare, provided that the aggregate
801	835		13 investment in all of these corporations and in all of
802	836		14 these projects does not exceed 10% of the unimpaired
803	837		15 capital and unimpaired surplus of the bank and provided
804	838		16 that this limitation shall not apply to creditworthy loans
805	839		17 by the bank to those corporations or projects. Upon
806	840		18 written application to the Commissioner, a bank may make
807	841		19 an investment that would, when aggregated with all other
808	842		20 such investments, exceed 10% of the unimpaired capital and
809	843		21 unimpaired surplus of the bank. The Commissioner may
810	844		22 approve the investment if he is of the opinion and finds
811	845		23 that the proposed investment will not have a material
812	846		24 adverse effect on the safety and soundness of the bank.
813	847		25 (22) To own, possess, and carry as assets the stock of
814	848		26 a corporation engaged in the ownership or operation of a
815	849
816	850
817	851
818	852
819	853
820		-	HB3467 ~~Engrossed~~ - 23 - LRB104 10334 BAB 20408 b
821		-
822		-
823		-	HB3467 ~~Engrossed~~- 24 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 24 - LRB104 10334 BAB 20408 b
824		-	HB3467 ~~Engrossed~~ - 24 - LRB104 10334 BAB 20408 b
	854	+	HB3467 - 23 - LRB104 10334 BAB 20408 b
	855	+
	856	+
	857	+	HB3467- 24 -LRB104 10334 BAB 20408 b HB3467 - 24 - LRB104 10334 BAB 20408 b
	858	+	HB3467 - 24 - LRB104 10334 BAB 20408 b
825	859		1 travel agency or to operate a travel agency as a part of
826	860		2 its business.
827	861		3 (23) With respect to affiliate facilities:
828	862		4 (a) to conduct at affiliate facilities for and on
829	863		5 behalf of another commonly owned bank, if so
830	864		6 authorized by the other bank, all transactions that
831	865		7 the other bank is authorized or permitted to perform;
832	866		8 and
833	867		9 (b) to authorize a commonly owned bank to conduct
834	868		10 for and on behalf of it any of the transactions it is
835	869		11 authorized or permitted to perform at one or more
836	870		12 affiliate facilities.
837	871		13 Any bank intending to conduct or to authorize a
838	872		14 commonly owned bank to conduct at an affiliate facility
839	873		15 any of the transactions specified in this paragraph (23)
840	874		16 shall give written notice to the Commissioner at least 30
841	875		17 days before any such transaction is conducted at the
842	876		18 affiliate facility.
843	877		19 (24) To act as the agent for any fire, life, or other
844	878		20 insurance company authorized by the State of Illinois, by
845	879		21 soliciting and selling insurance and collecting premiums
846	880		22 on policies issued by such company; and to receive for
847	881		23 services so rendered such fees or commissions as may be
848	882		24 agreed upon between the bank and the insurance company for
849	883		25 which it may act as agent; provided, however, that no such
850	884		26 bank shall in any case assume or guarantee the payment of
851	885
852	886
853	887
854	888
855	889
856		-	HB3467 ~~Engrossed~~ - 24 - LRB104 10334 BAB 20408 b
857		-
858		-
859		-	HB3467 ~~Engrossed~~- 25 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 25 - LRB104 10334 BAB 20408 b
860		-	HB3467 ~~Engrossed~~ - 25 - LRB104 10334 BAB 20408 b
	890	+	HB3467 - 24 - LRB104 10334 BAB 20408 b
	891	+
	892	+
	893	+	HB3467- 25 -LRB104 10334 BAB 20408 b HB3467 - 25 - LRB104 10334 BAB 20408 b
	894	+	HB3467 - 25 - LRB104 10334 BAB 20408 b
861	895		1 any premium on insurance policies issued through its
862	896		2 agency by its principal; and provided further, that the
863	897		3 bank shall not guarantee the truth of any statement made
864	898		4 by an assured in filing his application for insurance.
865	899		5 (25) Notwithstanding any other provisions of this Act
866	900		6 or any other law, to offer any product or service that is
867	901		7 at the time authorized or permitted to any insured savings
868	902		8 association or out-of-state bank by applicable law,
869	903		9 provided that powers conferred only by this subsection
870	904		10 (25):
871	905		11 (a) shall always be subject to the same
872	906		12 limitations and restrictions that are applicable to
873	907		13 the insured savings association or out-of-state bank
874	908		14 for the product or service by such applicable law;
875	909		15 (b) shall be subject to applicable provisions of
876	910		16 the Financial Institutions Insurance Sales Law;
877	911		17 (c) shall not include the right to own or conduct a
878	912		18 real estate brokerage business for which a license
879	913		19 would be required under the laws of this State; and
880	914		20 (d) shall not be construed to include the
881	915		21 establishment or maintenance of a branch, nor shall
882	916		22 they be construed to limit the establishment or
883	917		23 maintenance of a branch pursuant to subsection (11).
884	918		24 Not less than 30 days before engaging in any activity
885	919		25 under the authority of this subsection, a bank shall
886	920		26 provide written notice to the Commissioner of its intent
887	921
888	922
889	923
890	924
891	925
892		-	HB3467 ~~Engrossed~~ - 25 - LRB104 10334 BAB 20408 b
893		-
894		-
895		-	HB3467 ~~Engrossed~~- 26 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 26 - LRB104 10334 BAB 20408 b
896		-	HB3467 ~~Engrossed~~ - 26 - LRB104 10334 BAB 20408 b
	926	+	HB3467 - 25 - LRB104 10334 BAB 20408 b
	927	+
	928	+
	929	+	HB3467- 26 -LRB104 10334 BAB 20408 b HB3467 - 26 - LRB104 10334 BAB 20408 b
	930	+	HB3467 - 26 - LRB104 10334 BAB 20408 b
897	931		1 to engage in the activity. The notice shall indicate the
898	932		2 specific federal or state law, rule, regulation, or
899	933		3 interpretation the bank intends to use as authority to
900	934		4 engage in the activity.
901	935		5 (26) To provide data processing services to others on
902	936		6 a for-profit basis. The total revenue attributable to the
903	937		7 bank's data processing activities must be derived
904	938		8 predominantly from processing banking, financial, or
905	939		9 economic data, and other types of data if the derivative
906	940		10 or resultant product is banking, financial, or economic
907	941		11 data.
908	942		12 (27) To invest in commodities derivatives, with the
909	943		13 management and controls necessary to ensure that such
910	944		14 activities are carried out according to safe and sound
911	945		15 banking practices.
912	946		16 Nothing in this Section shall be construed to require the
913	947		17 filing of a notice or application for approval with the United
914	948		18 States Office of the Comptroller of the Currency or a bank
915	949		19 supervisor of another state as a condition to the right of a
916	950		20 State bank to exercise any of the powers conferred by this
917	951		21 Section in this State.
918	952		22 (Source: P.A. 99-362, eff. 8-13-15; 100-863, eff. 8-14-18.)
919	953		23 (205 ILCS 5/13) (from Ch. 17, par. 320)
920	954		24 Sec. 13. Issuance of charter.
921	955		25 (a) When the directors have organized as provided in
922	956
923	957
924	958
925	959
926	960
927		-	HB3467 ~~Engrossed~~ - 26 - LRB104 10334 BAB 20408 b
928		-
929		-
930		-	HB3467 ~~Engrossed~~- 27 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 27 - LRB104 10334 BAB 20408 b
931		-	HB3467 ~~Engrossed~~ - 27 - LRB104 10334 BAB 20408 b
	961	+	HB3467 - 26 - LRB104 10334 BAB 20408 b
	962	+
	963	+
	964	+	HB3467- 27 -LRB104 10334 BAB 20408 b HB3467 - 27 - LRB104 10334 BAB 20408 b
	965	+	HB3467 - 27 - LRB104 10334 BAB 20408 b
932	966		1 Section 12 of this Act, and the capital stock and the preferred
933	967		2 stock, if any, together with a surplus of not less than 50% of
934	968		3 the capital, has been all fully paid in and a record of the
935	969		4 same filed with the Commissioner, the Commissioner or some
936	970		5 competent person of the Commissioner's appointment shall make
937	971		6 a thorough examination into the affairs of the proposed bank,
938	972		7 and if satisfied (i) that all the requirements of this Act have
939	973		8 been complied with, (ii) that no intervening circumstance has
940	974		9 occurred to change the Commissioner's findings made pursuant
941	975		10 to Section 10 of this Act, and (iii) that the prior involvement
942	976		11 by any stockholder who will own a sufficient amount of stock to
943	977		12 have control, as defined in Section 18 of this Act, of the
944	978		13 proposed bank with any other financial institution, whether as
945	979		14 stockholder, director, officer, or customer, was conducted in
946	980		15 a safe and sound manner, upon payment into the Commissioner's
947	981		16 office of the reasonable expenses of the examination, as
948	982		17 determined by the Commissioner, the Commissioner shall issue a
949	983		18 charter authorizing the bank to commence business as
950	984		19 authorized in this Act. All charters issued by the
951	985		20 Commissioner or any predecessor agency which chartered State
952	986		21 banks, including any charter outstanding as of September 1,
953	987		22 1989, shall be perpetual. For the 2 years after the
954	988		23 Commissioner has issued a charter to a bank, the bank shall
955	989		24 request and obtain from the Commissioner prior written
956	990		25 approval before it may change senior management personnel or
957	991		26 directors.
958	992
959	993
960	994
961	995
962	996
963		-	HB3467 ~~Engrossed~~ - 27 - LRB104 10334 BAB 20408 b
964		-
965		-
966		-	HB3467 ~~Engrossed~~- 28 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 28 - LRB104 10334 BAB 20408 b
967		-	HB3467 ~~Engrossed~~ - 28 - LRB104 10334 BAB 20408 b
	997	+	HB3467 - 27 - LRB104 10334 BAB 20408 b
	998	+
	999	+
	1000	+	HB3467- 28 -LRB104 10334 BAB 20408 b HB3467 - 28 - LRB104 10334 BAB 20408 b
	1001	+	HB3467 - 28 - LRB104 10334 BAB 20408 b
968	1002		1 The original charter, duly certified by the Commissioner,
969	1003		2 or a certified copy shall be evidence in all courts and places
970	1004		3 of the existence and authority of the bank to do business. Upon
971	1005		4 the issuance of the charter by the Commissioner, the bank
972	1006		5 shall be deemed fully organized and may proceed to do
973	1007		6 business. The Commissioner may, in the Commissioner's
974	1008		7 discretion, withhold the issuing of the charter when the
975	1009		8 Commissioner has reason to believe that the bank is organized
976	1010		9 for any purpose other than that contemplated by this Act. The
977	1011		10 Commissioner shall revoke the charter and order liquidation in
978	1012		11 the event that the bank does not commence a general banking
979	1013		12 business within one year from the date of the issuance of the
980	1014		13 charter, unless a request has been submitted, in writing, to
981	1015		14 the Commissioner for an extension and the request has been
982	1016		15 approved. After commencing a general banking business, a bank
983	1017		16 may change its name by filing written notice with the
984	1018		17 Commissioner at least 30 days prior to the effective date of
985	1019		18 such change. A bank chartered under this Act may change its
986	1020		19 main banking premises by filing written notice application
987	1021		20 with the Commissioner, on forms prescribed by the
988	1022		21 Commissioner, provided (i) the change shall not be a removal
989	1023		22 to a new location without complying with the capital
990	1024		23 requirements of Section 7 and of subsection (1) of Section 10
991	1025		24 of this Act; and (ii) the Commissioner approves the relocation
992	1026		25 or change; and (iii) the bank complies with any applicable
993	1027		26 federal law or regulation. The application shall be deemed to
994	1028
995	1029
996	1030
997	1031
998	1032
999		-	HB3467 ~~Engrossed~~ - 28 - LRB104 10334 BAB 20408 b
1000		-
1001		-
1002		-	HB3467 ~~Engrossed~~- 29 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 29 - LRB104 10334 BAB 20408 b
1003		-	HB3467 ~~Engrossed~~ - 29 - LRB104 10334 BAB 20408 b
	1033	+	HB3467 - 28 - LRB104 10334 BAB 20408 b
	1034	+
	1035	+
	1036	+	HB3467- 29 -LRB104 10334 BAB 20408 b HB3467 - 29 - LRB104 10334 BAB 20408 b
	1037	+	HB3467 - 29 - LRB104 10334 BAB 20408 b
1004	1038		1 be approved if the Commissioner has not acted on the
1005	1039		2 application within 30 days after receipt of the application,
1006	1040		3 unless within the 30-day time frame the Commissioner informs
1007	1041		4 the bank that an extension of time is necessary prior to the
1008	1042		5 Commissioner's action on the application.
1009	1043		6 (b)(1) The Commissioner may also issue a charter to a bank
1010	1044		7 that is owned exclusively by other depository institutions or
1011	1045		8 depository institution holding companies and is organized to
1012	1046		9 engage exclusively in providing services to or for other
1013	1047		10 financial institutions, their holding companies, and the
1014	1048		11 officers, directors, and employees of such institutions and
1015	1049		12 companies, and in providing services at the request of other
1016	1050		13 financial institutions or their holding companies (also
1017	1051		14 referred to as a "bankers' bank"). The bank may also provide
1018	1052		15 products and services to its officers, directors, and
1019	1053		16 employees.
1020	1054		17 (2) A bank chartered pursuant to paragraph (1) shall,
1021	1055		18 except as otherwise specifically determined or limited by the
1022	1056		19 Commissioner in an order or pursuant to a rule, be vested with
1023	1057		20 the same rights and privileges and subject to the same duties,
1024	1058		21 restrictions, penalties, and liabilities now or hereafter
1025	1059		22 imposed under this Act.
1026	1060		23 (c) A bank chartered under this Act shall, at all times
1027	1061		24 while it accepts or retains deposits, maintain with the
1028	1062		25 Federal Deposit Insurance Corporation, or such other
1029	1063		26 instrumentality of or corporation chartered by the United
1030	1064
1031	1065
1032	1066
1033	1067
1034	1068
1035		-	HB3467 ~~Engrossed~~ - 29 - LRB104 10334 BAB 20408 b
1036		-
1037		-
1038		-	HB3467 ~~Engrossed~~- 30 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 30 - LRB104 10334 BAB 20408 b
1039		-	HB3467 ~~Engrossed~~ - 30 - LRB104 10334 BAB 20408 b
	1069	+	HB3467 - 29 - LRB104 10334 BAB 20408 b
	1070	+
	1071	+
	1072	+	HB3467- 30 -LRB104 10334 BAB 20408 b HB3467 - 30 - LRB104 10334 BAB 20408 b
	1073	+	HB3467 - 30 - LRB104 10334 BAB 20408 b
1040	1074		1 States, deposit insurance as authorized under federal law.
1041	1075		2 (d)(i) A bank that has a banking charter issued by the
1042	1076		3 Commissioner under this Act may, pursuant to a written
1043	1077		4 purchase and assumption agreement, transfer substantially all
1044	1078		5 of its assets to another State bank or national bank in
1045	1079		6 consideration, in whole or in part, for the transferee banks'
1046	1080		7 assumption of any part or all of its liabilities. Such a
1047	1081		8 transfer shall in no way be deemed to impair the charter of the
1048	1082		9 transferor bank or cause the transferor bank to forfeit any of
1049	1083		10 its rights, powers, interests, franchises, or privileges as a
1050	1084		11 State bank, nor shall any voluntary reduction in the
1051	1085		12 transferor bank's activities resulting from the transfer have
1052	1086		13 any such effect; provided, however, that a State bank that
1053	1087		14 transfers substantially all of its assets pursuant to this
1054	1088		15 subsection (d) and following the transfer does not accept
1055	1089		16 deposits and make loans, shall not have any rights, powers,
1056	1090		17 interests, franchises, or privileges under subsection (15) of
1057	1091		18 Section 5 of this Act until the bank has resumed accepting
1058	1092		19 deposits and making loans.
1059	1093		20 (ii) The fact that a State bank does not resume accepting
1060	1094		21 deposits and making loans for a period of 24 months commencing
1061	1095		22 on September 11, 1989 or on a date of the transfer of
1062	1096		23 substantially all of a State bank's assets, whichever is
1063	1097		24 later, or such longer period as the Commissioner may allow in
1064	1098		25 writing, may be the basis for a finding by the Commissioner
1065	1099		26 under Section 51 of this Act that the bank is unable to
1066	1100
1067	1101
1068	1102
1069	1103
1070	1104
1071		-	HB3467 ~~Engrossed~~ - 30 - LRB104 10334 BAB 20408 b
1072		-
1073		-
1074		-	HB3467 ~~Engrossed~~- 31 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 31 - LRB104 10334 BAB 20408 b
1075		-	HB3467 ~~Engrossed~~ - 31 - LRB104 10334 BAB 20408 b
	1105	+	HB3467 - 30 - LRB104 10334 BAB 20408 b
	1106	+
	1107	+
	1108	+	HB3467- 31 -LRB104 10334 BAB 20408 b HB3467 - 31 - LRB104 10334 BAB 20408 b
	1109	+	HB3467 - 31 - LRB104 10334 BAB 20408 b
1076	1110		1 continue operations.
1077	1111		2 (iii) The authority provided by subdivision (i) of this
1078	1112		3 subsection (d) shall terminate on May 31, 1997, and no bank
1079	1113		4 that has transferred substantially all of its assets pursuant
1080	1114		5 to this subsection (d) shall continue in existence after May
1081	1115		6 31, 1997.
1082	1116		7 (Source: P.A. 95-924, eff. 8-26-08; 96-1365, eff. 7-28-10.)
1083	1117		8 (205 ILCS 5/15) (from Ch. 17, par. 322)
1084	1118		9 Sec. 15. Stock and stockholders. Unless otherwise provided
1085	1119		10 for in this Act, provisions of general application to capital
1086	1120		11 stock, preferred stock, and stockholders of a State bank shall
1087	1121		12 be as follows:
1088	1122		13 (1) There shall be an annual meeting of the stockholders
1089	1123		14 for the election of directors each year on the first business
1090	1124		15 day in January, unless some other date shall be fixed by the
1091	1125		16 by-laws. A special meeting of the stockholders may be called
1092	1126		17 at any time by the board of directors, and otherwise as may be
1093	1127		18 provided in the bylaws.
1094	1128		19 (2) Written or printed notice stating the place, day, and
1095	1129		20 hour of the meeting, and in case of a special meeting, the
1096	1130		21 purpose or purposes for which the meeting is called, shall be
1097	1131		22 delivered not less than 10 nor more than 40 days before the
1098	1132		23 date of the meeting either personally, electronically, or by
1099	1133		24 mail, by or at the direction of the president, or the
1100	1134		25 secretary, or the officer or persons calling the meeting, to
1101	1135
1102	1136
1103	1137
1104	1138
1105	1139
1106		-	HB3467 ~~Engrossed~~ - 31 - LRB104 10334 BAB 20408 b
1107		-
1108		-
1109		-	HB3467 ~~Engrossed~~- 32 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 32 - LRB104 10334 BAB 20408 b
1110		-	HB3467 ~~Engrossed~~ - 32 - LRB104 10334 BAB 20408 b
	1140	+	HB3467 - 31 - LRB104 10334 BAB 20408 b
	1141	+
	1142	+
	1143	+	HB3467- 32 -LRB104 10334 BAB 20408 b HB3467 - 32 - LRB104 10334 BAB 20408 b
	1144	+	HB3467 - 32 - LRB104 10334 BAB 20408 b
1111	1145		1 each stockholder of record entitled to vote at the meeting. If
1112	1146		2 mailed, the notice shall be deemed to be delivered when
1113	1147		3 deposited in the United States mail with postage thereon
1114	1148		4 prepaid addressed to the stockholder at his address as it
1115	1149		5 appears on the records of the bank.
1116	1150		6 (3) Except as provided below in this paragraph (3), each
1117	1151		7 outstanding share shall be entitled to one vote on each matter
1118	1152		8 submitted to a vote at a meeting of stockholders. Shares of its
1119	1153		9 own stock belonging to a bank shall not be voted, directly or
1120	1154		10 indirectly, at any meeting and shall not be counted in
1121	1155		11 determining the total number of outstanding shares at any
1122	1156		12 given time, but shares of its own stock held by it in a
1123	1157		13 fiduciary capacity may be voted and shall be counted in
1124	1158		14 determining the total number of outstanding shares at any
1125	1159		15 given time. A stockholder may vote either in person or by proxy
1126	1160		16 executed in writing by the stockholder or by his duly
1127	1161		17 authorized attorney-in-fact. No proxy shall be valid after 11
1128	1162		18 months from the date of its execution, unless otherwise
1129	1163		19 provided in the proxy. Except as provided below in this
1130	1164		20 paragraph (3), in all elections for directors every
1131	1165		21 stockholder (or subscriber to the stock prior to the issuance
1132	1166		22 of a charter) shall have the right to vote, in person or by
1133	1167		23 proxy, for the number of shares of stock owned by him, for as
1134	1168		24 many persons as there are directors to be elected, or to
1135	1169		25 cumulate the shares and give one candidate as many votes as the
1136	1170		26 number of directors multiplied by the number of his or her
1137	1171
1138	1172
1139	1173
1140	1174
1141	1175
1142		-	HB3467 ~~Engrossed~~ - 32 - LRB104 10334 BAB 20408 b
1143		-
1144		-
1145		-	HB3467 ~~Engrossed~~- 33 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 33 - LRB104 10334 BAB 20408 b
1146		-	HB3467 ~~Engrossed~~ - 33 - LRB104 10334 BAB 20408 b
	1176	+	HB3467 - 32 - LRB104 10334 BAB 20408 b
	1177	+
	1178	+
	1179	+	HB3467- 33 -LRB104 10334 BAB 20408 b HB3467 - 33 - LRB104 10334 BAB 20408 b
	1180	+	HB3467 - 33 - LRB104 10334 BAB 20408 b
1147	1181		1 shares of stock shall equal, or to distribute them on the same
1148	1182		2 principle among as many candidates as he or she shall think
1149	1183		3 fit. The bank charter of any bank organized on or after January
1150	1184		4 1, 1984 may limit or eliminate cumulative voting rights in all
1151	1185		5 or specified circumstances, or may eliminate voting rights
1152	1186		6 entirely, as to any class or classes or series of stock of the
1153	1187		7 bank; provided that one class of shares or series thereof
1154	1188		8 shall always have voting rights in respect of all matters in
1155	1189		9 the bank. A bank organized prior to January 1, 1984 may amend
1156	1190		10 its charter to eliminate cumulative voting rights under all or
1157	1191		11 specified circumstances, or to eliminate voting rights
1158	1192		12 entirely, as to any class or classes or series of stock of the
1159	1193		13 bank; provided that one class of shares or series thereof
1160	1194		14 shall always have voting rights in respect of all matters in
1161	1195		15 the bank, and provided further that the proposal to eliminate
1162	1196		16 the voting rights receives the approval of the holders of 70%
1163	1197		17 of the outstanding shares of stock entitled to vote as
1164	1198		18 provided in paragraph (b) (7) of Section 17. A majority of the
1165	1199		19 outstanding shares represented in person or by proxy shall
1166	1200		20 constitute a quorum at a meeting of stockholders. In the
1167	1201		21 absence of a quorum a meeting may be adjourned from time to
1168	1202		22 time without notice to the stockholders.
1169	1203		23 (4) Whenever additional stock of a class is offered for
1170	1204		24 sale, stockholders of record of the same class on the date of
1171	1205		25 the offer shall have the right to subscribe to the proportion
1172	1206		26 of the shares as the stock of the class held by them bears to
1173	1207
1174	1208
1175	1209
1176	1210
1177	1211
1178		-	HB3467 ~~Engrossed~~ - 33 - LRB104 10334 BAB 20408 b
1179		-
1180		-
1181		-	HB3467 ~~Engrossed~~- 34 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 34 - LRB104 10334 BAB 20408 b
1182		-	HB3467 ~~Engrossed~~ - 34 - LRB104 10334 BAB 20408 b
	1212	+	HB3467 - 33 - LRB104 10334 BAB 20408 b
	1213	+
	1214	+
	1215	+	HB3467- 34 -LRB104 10334 BAB 20408 b HB3467 - 34 - LRB104 10334 BAB 20408 b
	1216	+	HB3467 - 34 - LRB104 10334 BAB 20408 b
1183	1217		1 the total of the outstanding stock of the class, and the price
1184	1218		2 thereof may be in excess of par value. This right shall be
1185	1219		3 transferable but shall terminate if not exercised within 60
1186	1220		4 days of the offer, unless the Commissioner shall authorize a
1187	1221		5 shorter time. If the right is not exercised, the stock shall
1188	1222		6 not be re-offered for sale to others at a lower price without
1189	1223		7 the stockholders of the same class again being accorded a
1190	1224		8 preemptive right to subscribe at the lower price.
1191	1225		9 Notwithstanding any of the provisions of this paragraph (4) or
1192	1226		10 any other provision of law, stockholders shall not have any
1193	1227		11 preemptive or other right to subscribe for or to purchase or
1194	1228		12 acquire shares of capital stock issued or to be issued under a
1195	1229		13 stock-option plan or upon conversion of preferred stock or
1196	1230		14 convertible debentures or other convertible indebtedness that
1197	1231		15 has been approved by stockholders in the manner required by
1198	1232		16 the provisions of subsection (5) of Section 14 hereof or to
1199	1233		17 treasury stock acquired pursuant to subsection (6) of Section
1200	1234		18 14.
1201	1235		19 (5) For the purpose of determining stockholders entitled
1202	1236		20 to notice of or to vote at any meeting of stockholders, or
1203	1237		21 stockholders entitled to receive payment of any dividend, or
1204	1238		22 in order to make a determination of stockholders for any other
1205	1239		23 proper purpose, the board of directors of a bank may provide
1206	1240		24 that the stock transfer books shall be closed for a stated
1207	1241		25 period not to exceed, in any case, 40 days. In lieu of closing
1208	1242		26 the stock transfer books, the board of directors may fix in
1209	1243
1210	1244
1211	1245
1212	1246
1213	1247
1214		-	HB3467 ~~Engrossed~~ - 34 - LRB104 10334 BAB 20408 b
1215		-
1216		-
1217		-	HB3467 ~~Engrossed~~- 35 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 35 - LRB104 10334 BAB 20408 b
1218		-	HB3467 ~~Engrossed~~ - 35 - LRB104 10334 BAB 20408 b
	1248	+	HB3467 - 34 - LRB104 10334 BAB 20408 b
	1249	+
	1250	+
	1251	+	HB3467- 35 -LRB104 10334 BAB 20408 b HB3467 - 35 - LRB104 10334 BAB 20408 b
	1252	+	HB3467 - 35 - LRB104 10334 BAB 20408 b
1219	1253		1 advance a date as the record date for any determination of
1220	1254		2 stockholders, the date in any case to be not more than 40 days,
1221	1255		3 and in case of a meeting of stockholders, not less than 10 days
1222	1256		4 prior to the date on which the particular action, requiring
1223	1257		5 the determination of stockholders, is to be taken. If the
1224	1258		6 stock transfer books are not closed and no record date is fixed
1225	1259		7 for the determination of stockholders entitled to notice of or
1226	1260		8 to vote at a meeting of stockholders, or stockholders entitled
1227	1261		9 to receive payment of a dividend, the date on which notice of a
1228	1262		10 meeting is delivered mailed or the date on which the
1229	1263		11 resolution of the board of directors declaring the dividend is
1230	1264		12 adopted, as the case may be, shall be the record date for the
1231	1265		13 determination of stockholders.
1232	1266		14 (6) Stock standing in the name of another corporation,
1233	1267		15 domestic or foreign, may be voted by the officer, agent, or
1234	1268		16 proxy as the by-laws of the corporation may prescribe, or, in
1235	1269		17 the absence of such provision, as the board of directors of the
1236	1270		18 corporation may determine. Stock standing in the name of a
1237	1271		19 deceased person may be voted by his or her administrator or
1238	1272		20 executor, either in person or by proxy. Stock standing in the
1239	1273		21 name of a guardian or trustee may be voted by that fiduciary
1240	1274		22 either in person or by proxy. Shares standing in the name of a
1241	1275		23 receiver may be voted by the receiver, and shares held by or
1242	1276		24 under control of a receiver may be voted by the receiver
1243	1277		25 without the transfer thereof into his or her name if authority
1244	1278		26 so to do be contained in an appropriate order of the court by
1245	1279
1246	1280
1247	1281
1248	1282
1249	1283
1250		-	HB3467 ~~Engrossed~~ - 35 - LRB104 10334 BAB 20408 b
1251		-
1252		-
1253		-	HB3467 ~~Engrossed~~- 36 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 36 - LRB104 10334 BAB 20408 b
1254		-	HB3467 ~~Engrossed~~ - 36 - LRB104 10334 BAB 20408 b
	1284	+	HB3467 - 35 - LRB104 10334 BAB 20408 b
	1285	+
	1286	+
	1287	+	HB3467- 36 -LRB104 10334 BAB 20408 b HB3467 - 36 - LRB104 10334 BAB 20408 b
	1288	+	HB3467 - 36 - LRB104 10334 BAB 20408 b
1255	1289		1 which the receiver was appointed. A stockholder whose shares
1256	1290		2 of stock are pledged shall be entitled to vote those shares
1257	1291		3 until the shares have been transferred into the name of the
1258	1292		4 pledgee, and thereafter the pledgee shall be entitled to vote
1259	1293		5 the shares so transferred.
1260	1294		6 (7) Shares of stock shall be transferable in accordance
1261	1295		7 with the general laws of this State governing the transfer of
1262	1296		8 corporate shares.
1263	1297		9 (8) The president and any other officer designated by the
1264	1298		10 board of directors of every State bank shall cause to be kept
1265	1299		11 at all times a full and correct list of the names and
1266	1300		12 residences of all the shareholders in the State bank and the
1267	1301		13 number of shares held by each in the office where its business
1268	1302		14 is transacted. The list shall be subject to the inspection of
1269	1303		15 all the shareholders of the State bank and the officers
1270	1304		16 authorized to assess taxes under State authority during
1271	1305		17 business hours of each day in which business may be legally
1272	1306		18 transacted or shall be kept on a reasonably accessible
1273	1307		19 electronic network, at the State bank's election. A copy of
1274	1308		20 the list, verified by the oath of the president or cashier,
1275	1309		21 shall be transmitted to the Commissioner of Banks and Real
1276	1310		22 Estate within 10 days of any demand therefor made by the
1277	1311		23 Commissioner.
1278	1312		24 (9) Any number of shareholders of a bank may create a
1279	1313		25 voting trust for the purpose of conferring upon a trustee or
1280	1314		26 trustees the right to vote or otherwise represent their shares
1281	1315
1282	1316
1283	1317
1284	1318
1285	1319
1286		-	HB3467 ~~Engrossed~~ - 36 - LRB104 10334 BAB 20408 b
1287		-
1288		-
1289		-	HB3467 ~~Engrossed~~- 37 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 37 - LRB104 10334 BAB 20408 b
1290		-	HB3467 ~~Engrossed~~ - 37 - LRB104 10334 BAB 20408 b
	1320	+	HB3467 - 36 - LRB104 10334 BAB 20408 b
	1321	+
	1322	+
	1323	+	HB3467- 37 -LRB104 10334 BAB 20408 b HB3467 - 37 - LRB104 10334 BAB 20408 b
	1324	+	HB3467 - 37 - LRB104 10334 BAB 20408 b
1291	1325		1 for a period of not to exceed 10 years by entering into a
1292	1326		2 written voting trust agreement specifying the terms and
1293	1327		3 conditions of the voting trust and by transferring their
1294	1328		4 shares to the trustee or trustees for the purposes of the
1295	1329		5 agreement. The trust agreement shall not become effective
1296	1330		6 until a counterpart of the agreement is deposited with the
1297	1331		7 bank at its main banking premises. The counterpart of the
1298	1332		8 voting trust agreement so deposited with the bank shall be
1299	1333		9 subject to the same right of examination by a shareholder of
1300	1334		10 the bank, in person or by agent or attorney, as is the record
1301	1335		11 of shareholders of the bank and shall be subject to
1302	1336		12 examination by any holder of a beneficial interest in the
1303	1337		13 voting trust, either in person or by agent or attorney, at any
1304	1338		14 reasonable time for any proper purpose.
1305	1339		15 (10) Voting agreements. Shareholders may provide for the
1306	1340		16 voting of their shares by signing an agreement for that
1307	1341		17 purpose. A voting agreement created under this paragraph is
1308	1342		18 not subject to the provisions of paragraph (9).
1309	1343		19 A voting agreement created under this paragraph is
1310	1344		20 specifically enforceable in accordance with the principles of
1311	1345		21 equity.
1312	1346		22 (11) Unless expressly prohibited by the charter or bylaws
1313	1347		23 and subject to applicable requirements of this Act, the board
1314	1348		24 of directors may provide by resolution that stockholders may
1315	1349		25 attend, participate in, act in, and vote at any annual meeting
1316	1350		26 or special meeting through the use of a conference telephone
1317	1351
1318	1352
1319	1353
1320	1354
1321	1355
1322		-	HB3467 ~~Engrossed~~ - 37 - LRB104 10334 BAB 20408 b
1323		-
1324		-
1325		-	HB3467 ~~Engrossed~~- 38 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 38 - LRB104 10334 BAB 20408 b
1326		-	HB3467 ~~Engrossed~~ - 38 - LRB104 10334 BAB 20408 b
	1356	+	HB3467 - 37 - LRB104 10334 BAB 20408 b
	1357	+
	1358	+
	1359	+	HB3467- 38 -LRB104 10334 BAB 20408 b HB3467 - 38 - LRB104 10334 BAB 20408 b
	1360	+	HB3467 - 38 - LRB104 10334 BAB 20408 b
1327	1361		1 or interactive technology, including, but not limited to,
1328	1362		2 electronic transmission, Internet usage, or remote
1329	1363		3 communication, by means of which all persons participating in
1330	1364		4 the meeting can communicate with each other. Participation
1331	1365		5 through the use of a conference telephone or interactive
1332	1366		6 technology shall constitute attendance, presence, and
1333	1367		7 representation in person at the annual meeting or special
1334	1368		8 meeting of the person or persons so participating and count
1335	1369		9 toward the quorum required to conduct business at the meeting.
1336	1370		10 The following conditions shall apply to any virtual meeting of
1337	1371		11 the stockholders:
1338	1372		12 (a) the bank must internally possess or retain the
1339	1373		13 technological capacity to facilitate virtual meeting
1340	1374		14 attendance, participation, communication, and voting; and
1341	1375		15 (b) the stockholders must receive notice of the use of
1342	1376		16 a virtual meeting format and appropriate instructions for
1343	1377		17 joining, participating, and voting during the virtual
1344	1378		18 meeting at least 7 days before the virtual meeting.
1345	1379		19 (Source: P.A. 95-924, eff. 8-26-08.)
1346	1380		20 (205 ILCS 5/16) (from Ch. 17, par. 323)
1347	1381		21 Sec. 16. Directors. The business and affairs of a State
1348	1382		22 bank shall be managed by its board of directors that shall
1349	1383		23 exercise its powers as follows:
1350	1384		24 (1) Directors shall be elected as provided in this Act.
1351	1385		25 Any omission to elect a director or directors shall not impair
1352	1386
1353	1387
1354	1388
1355	1389
1356	1390
1357		-	HB3467 ~~Engrossed~~ - 38 - LRB104 10334 BAB 20408 b
1358		-
1359		-
1360		-	HB3467 ~~Engrossed~~- 39 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 39 - LRB104 10334 BAB 20408 b
1361		-	HB3467 ~~Engrossed~~ - 39 - LRB104 10334 BAB 20408 b
	1391	+	HB3467 - 38 - LRB104 10334 BAB 20408 b
	1392	+
	1393	+
	1394	+	HB3467- 39 -LRB104 10334 BAB 20408 b HB3467 - 39 - LRB104 10334 BAB 20408 b
	1395	+	HB3467 - 39 - LRB104 10334 BAB 20408 b
1362	1396		1 any of the rights and privileges of the bank or of any person
1363	1397		2 in any way interested. The existing directors shall hold
1364	1398		3 office until their successors are elected and qualify.
1365	1399		4 (2) (a) Notwithstanding the provisions of any charter
1366	1400		5 heretofore or hereafter issued, the number of directors,
1367	1401		6 not fewer than 5 nor more than 25, may be fixed from time
1368	1402		7 to time by the stockholders at any meeting of the
1369	1403		8 stockholders called for the purpose of electing directors
1370	1404		9 or changing the number thereof by the affirmative vote of
1371	1405		10 at least two-thirds of the outstanding stock entitled to
1372	1406		11 vote at the meeting, and the number so fixed shall be the
1373	1407		12 board regardless of vacancies until the number of
1374	1408		13 directors is thereafter changed by similar action.
1375	1409		14 (b) Notwithstanding the minimum number of directors
1376	1410		15 specified in paragraph (a) of this subsection, a State
1377	1411		16 bank that has been in existence for 10 years or more and
1378	1412		17 has less than $20,000,000 in assets, as of the December 31
1379	1413		18 immediately preceding the annual meeting of shareholders
1380	1414		19 at which directors are elected, may, subject to the
1381	1415		20 approval of the Commissioner, have a minimum of 3
1382	1416		21 directors; provided that if a State bank has fewer than 5
1383	1417		22 directors, at least one director shall not be an officer
1384	1418		23 or employee of the bank. The Commissioner shall annually
1385	1419		24 review the appropriateness of the grant of authority to
1386	1420		25 have a reduced minimum number of directors pursuant to
1387	1421		26 this paragraph (b).
1388	1422
1389	1423
1390	1424
1391	1425
1392	1426
1393		-	HB3467 ~~Engrossed~~ - 39 - LRB104 10334 BAB 20408 b
1394		-
1395		-
1396		-	HB3467 ~~Engrossed~~- 40 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 40 - LRB104 10334 BAB 20408 b
1397		-	HB3467 ~~Engrossed~~ - 40 - LRB104 10334 BAB 20408 b
	1427	+	HB3467 - 39 - LRB104 10334 BAB 20408 b
	1428	+
	1429	+
	1430	+	HB3467- 40 -LRB104 10334 BAB 20408 b HB3467 - 40 - LRB104 10334 BAB 20408 b
	1431	+	HB3467 - 40 - LRB104 10334 BAB 20408 b
1398	1432		1 (3) Except as otherwise provided in this paragraph (3),
1399	1433		2 directors shall hold office until the next annual meeting of
1400	1434		3 the stockholders succeeding their election or until their
1401	1435		4 successors are elected and qualify. If the board of directors
1402	1436		5 consists of 6 or more members, in lieu of electing the
1403	1437		6 membership of the whole board of directors annually, the
1404	1438		7 charter or by-laws of a State bank may provide that the
1405	1439		8 directors shall be divided into either 2 or 3 classes, each
1406	1440		9 class to be as nearly equal in number as is possible. The term
1407	1441		10 of office of directors of the first class shall expire at the
1408	1442		11 first annual meeting of the stockholders after their election,
1409	1443		12 that of the second class shall expire at the second annual
1410	1444		13 meeting after their election, and that of the third class, if
1411	1445		14 any, shall expire at the third annual meeting after their
1412	1446		15 election. At each annual meeting after classification, the
1413	1447		16 number of directors equal to the number of the class whose
1414	1448		17 terms expire at the time of the meeting shall be elected to
1415	1449		18 hold office until the second succeeding annual meeting, if
1416	1450		19 there be 2 classes, or until the third succeeding annual
1417	1451		20 meeting, if there be 3 classes. Vacancies may be filled by
1418	1452		21 stockholders at a special meeting called for the purpose.
1419	1453		22 If authorized by the bank's by-laws or an amendment
1420	1454		23 thereto, the directors of a State bank may properly fill a
1421	1455		24 vacancy or vacancies arising between shareholders' meetings,
1422	1456		25 but at no time may the number of directors selected to fill a
1423	1457		26 vacancy in this manner during any interim period between
1424	1458
1425	1459
1426	1460
1427	1461
1428	1462
1429		-	HB3467 ~~Engrossed~~ - 40 - LRB104 10334 BAB 20408 b
1430		-
1431		-
1432		-	HB3467 ~~Engrossed~~- 41 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 41 - LRB104 10334 BAB 20408 b
1433		-	HB3467 ~~Engrossed~~ - 41 - LRB104 10334 BAB 20408 b
	1463	+	HB3467 - 40 - LRB104 10334 BAB 20408 b
	1464	+
	1465	+
	1466	+	HB3467- 41 -LRB104 10334 BAB 20408 b HB3467 - 41 - LRB104 10334 BAB 20408 b
	1467	+	HB3467 - 41 - LRB104 10334 BAB 20408 b
1434	1468		1 shareholders' meetings exceed 33 1/3% of the total membership
1435	1469		2 of the board of directors.
1436	1470		3 (4) The board of directors shall hold regular meetings at
1437	1471		4 least once each month, provided that, upon prior written
1438	1472		5 approval by the Commissioner, the board of directors may hold
1439	1473		6 regular meetings less frequently than once each month but at
1440	1474		7 least once each calendar quarter. A special meeting of the
1441	1475		8 board of directors may be held as provided by the by-laws. A
1442	1476		9 special meeting of the board of directors may also be held upon
1443	1477		10 call by the Commissioner or a bank examiner appointed under
1444	1478		11 the provisions of this Act upon not less than 12 hours notice
1445	1479		12 of the meeting by personal service of the notice, by
1446	1480		13 electronic delivery of the notice, or by mailing the notice to
1447	1481		14 each of the directors at his residence as shown by the books of
1448	1482		15 the bank. A majority of the board of directors shall
1449	1483		16 constitute a quorum for the transaction of business unless a
1450	1484		17 greater number is required by the charter or the by-laws. The
1451	1485		18 act of the majority of the directors present at a meeting at
1452	1486		19 which a quorum is present shall be the act of the board of
1453	1487		20 directors unless the act of a greater number is required by the
1454	1488		21 charter or by the by-laws.
1455	1489		22 (5) A member of the board of directors shall be elected
1456	1490		23 president. The board of directors may appoint other officers,
1457	1491		24 as the by-laws may provide, and fix their salaries to carry on
1458	1492		25 the business of the bank. The board of directors may make and
1459	1493		26 amend by-laws (not inconsistent with this Act) for the
1460	1494
1461	1495
1462	1496
1463	1497
1464	1498
1465		-	HB3467 ~~Engrossed~~ - 41 - LRB104 10334 BAB 20408 b
1466		-
1467		-
1468		-	HB3467 ~~Engrossed~~- 42 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 42 - LRB104 10334 BAB 20408 b
1469		-	HB3467 ~~Engrossed~~ - 42 - LRB104 10334 BAB 20408 b
	1499	+	HB3467 - 41 - LRB104 10334 BAB 20408 b
	1500	+
	1501	+
	1502	+	HB3467- 42 -LRB104 10334 BAB 20408 b HB3467 - 42 - LRB104 10334 BAB 20408 b
	1503	+	HB3467 - 42 - LRB104 10334 BAB 20408 b
1470	1504		1 government of the bank and may, by the affirmative vote of a
1471	1505		2 majority of the board of directors, establish reasonable
1472	1506		3 compensation of all directors for services to the corporation
1473	1507		4 as directors, officers, or otherwise. An officer, whether
1474	1508		5 elected or appointed by the board of directors or appointed
1475	1509		6 pursuant to the by-laws, may be removed by the board of
1476	1510		7 directors at any time.
1477	1511		8 (6) The board of directors shall cause suitable books and
1478	1512		9 records of all the bank's transactions to be kept.
1479	1513		10 (7) (a) In discharging the duties of their respective
1480	1514		11 positions, the board of directors, committees of the
1481	1515		12 board, and individual directors may, in considering the
1482	1516		13 best long-term long term and short-term short term
1483	1517		14 interests of the bank, consider the effects of any action
1484	1518		15 (including, without limitation, action that may involve or
1485	1519		16 relate to a merger or potential merger or to a change or
1486	1520		17 potential change in control of the bank) upon employees,
1487	1521		18 depositors, suppliers, and customers of the corporation or
1488	1522		19 its subsidiaries, communities in which the main banking
1489	1523		20 premises, branches, offices, or other establishments of
1490	1524		21 the bank or its subsidiaries are located, and all
1491	1525		22 pertinent factors.
1492	1526		23 (b) In discharging the duties of their respective
1493	1527		24 positions, the board of directors, committees of the
1494	1528		25 board, and individual directors shall be entitled to rely
1495	1529		26 on advice, information, opinions, reports or statements,
1496	1530
1497	1531
1498	1532
1499	1533
1500	1534
1501		-	HB3467 ~~Engrossed~~ - 42 - LRB104 10334 BAB 20408 b
1502		-
1503		-
1504		-	HB3467 ~~Engrossed~~- 43 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 43 - LRB104 10334 BAB 20408 b
1505		-	HB3467 ~~Engrossed~~ - 43 - LRB104 10334 BAB 20408 b
	1535	+	HB3467 - 42 - LRB104 10334 BAB 20408 b
	1536	+
	1537	+
	1538	+	HB3467- 43 -LRB104 10334 BAB 20408 b HB3467 - 43 - LRB104 10334 BAB 20408 b
	1539	+	HB3467 - 43 - LRB104 10334 BAB 20408 b
1506	1540		1 including financial statements and financial data,
1507	1541		2 prepared or presented by: (i) one or more officers or
1508	1542		3 employees of the bank whom the director believes to be
1509	1543		4 reliable and competent in the matter presented; (ii) one
1510	1544		5 or more counsels, accountants, or other consultants as to
1511	1545		6 matters that the director believes to be within that
1512	1546		7 person's professional or expert competence; or (iii) a
1513	1547		8 committee of the board upon which the director does not
1514	1548		9 serve, as to matters within that committee's designated
1515	1549		10 authority; provided that the director's reliance under
1516	1550		11 this paragraph (b) is placed in good faith, after
1517	1551		12 reasonable inquiry if the need for such inquiry is
1518	1552		13 apparent under the circumstances and without knowledge
1519	1553		14 that would cause such reliance to be unreasonable.
1520	1554		15 (Source: P.A. 91-452, eff. 1-1-00; 92-476, eff. 8-23-01.)
1521	1555		16 (205 ILCS 5/16.5)
1522	1556		17 Sec. 16.5. Employment of persons with convictions. Except
1523	1557		18 with the prior written consent of the Commissioner, no State
1524	1558		19 bank shall knowingly employ or otherwise permit an individual
1525	1559		20 to serve as an officer, director, employee, or agent of the
1526	1560		21 State bank if the individual has been convicted of a felony or
1527	1561		22 of any criminal offense relating to dishonesty or breach of
1528	1562		23 trust. Notwithstanding the provisions of this Section, a State
1529	1563		24 bank in compliance with the provisions of 12 U.S.C. 1829 and
1530	1564		25 administrative regulations issued under 12 U.S.C. 1829 by the
1531	1565
1532	1566
1533	1567
1534	1568
1535	1569
1536		-	HB3467 ~~Engrossed~~ - 43 - LRB104 10334 BAB 20408 b
1537		-
1538		-
1539		-	HB3467 ~~Engrossed~~- 44 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 44 - LRB104 10334 BAB 20408 b
1540		-	HB3467 ~~Engrossed~~ - 44 - LRB104 10334 BAB 20408 b
	1570	+	HB3467 - 43 - LRB104 10334 BAB 20408 b
	1571	+
	1572	+
	1573	+	HB3467- 44 -LRB104 10334 BAB 20408 b HB3467 - 44 - LRB104 10334 BAB 20408 b
	1574	+	HB3467 - 44 - LRB104 10334 BAB 20408 b
1541	1575		1 State bank's primary federal financial institution regulator
1542	1576		2 shall be deemed in compliance with this Section.
1543	1577		3 (Source: P.A. 90-301, eff. 8-1-97.)
1544	1578		4 (205 ILCS 5/32.1) (from Ch. 17, par. 340)
1545	1579		5 Sec. 32.1. Loans to single individuals Single Females.
1546	1580		6 (a) For purposes of this Section, "single" means not
1547	1581		7 currently married.
1548	1582		8 (b) No State bank shall require that single individuals
1549	1583		9 who have reached the age of majority females to whom loans are
1550	1584		10 made have cosigners on promissory notes negotiated to secure
1551	1585		11 such loans unless such bank shall, under the same or similar
1552	1586		12 circumstances, also require that single males who have reached
1553	1587		13 the age of majority have cosigners on promissory notes
1554	1588		14 negotiated to secure loans.
1555	1589		15 (Source: P.A. 79-556.)
1556	1590		16 (205 ILCS 5/48)
1557	1591		17 Sec. 48. Secretary's powers; duties. The Secretary shall
1558	1592		18 have the powers and authority, and is charged with the duties
1559	1593		19 and responsibilities designated in this Act, and a State bank
1560	1594		20 shall not be subject to any other visitorial power other than
1561	1595		21 as authorized by this Act, except those vested in the courts,
1562	1596		22 or upon prior consultation with the Secretary, a foreign bank
1563	1597		23 regulator with an appropriate supervisory interest in the
1564	1598		24 parent or affiliate of a State bank. In the performance of the
1565	1599
1566	1600
1567	1601
1568	1602
1569	1603
1570		-	HB3467 ~~Engrossed~~ - 44 - LRB104 10334 BAB 20408 b
1571		-
1572		-
1573		-	HB3467 ~~Engrossed~~- 45 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 45 - LRB104 10334 BAB 20408 b
1574		-	HB3467 ~~Engrossed~~ - 45 - LRB104 10334 BAB 20408 b
	1604	+	HB3467 - 44 - LRB104 10334 BAB 20408 b
	1605	+
	1606	+
	1607	+	HB3467- 45 -LRB104 10334 BAB 20408 b HB3467 - 45 - LRB104 10334 BAB 20408 b
	1608	+	HB3467 - 45 - LRB104 10334 BAB 20408 b
1575	1609		1 Secretary's duties:
1576	1610		2 (1) The Commissioner shall call for statements from
1577	1611		3 all State banks as provided in Section 47 at least one time
1578	1612		4 during each calendar quarter.
1579	1613		5 (2) (a) The Commissioner, as often as the Commissioner
1580	1614		6 shall deem necessary or proper, and no less frequently
1581	1615		7 than 18 months following the preceding examination, shall
1582	1616		8 appoint a suitable person or persons to make an
1583	1617		9 examination of the affairs of every State bank, except
1584	1618		10 that for every eligible State bank, as defined by
1585	1619		11 regulation, the Commissioner in lieu of the examination
1586	1620		12 may accept on an alternating basis the examination made by
1587	1621		13 the eligible State bank's appropriate federal banking
1588	1622		14 agency pursuant to Section 111 of the Federal Deposit
1589	1623		15 Insurance Corporation Improvement Act of 1991, provided
1590	1624		16 the appropriate federal banking agency has made such an
1591	1625		17 examination. A person so appointed shall not be a
1592	1626		18 stockholder or officer or employee of any bank which that
1593	1627		19 person may be directed to examine, and shall have powers
1594	1628		20 to make a thorough examination into all the affairs of the
1595	1629		21 bank and in so doing to examine any of the officers or
1596	1630		22 agents or employees thereof on oath and shall make a full
1597	1631		23 and detailed report of the condition of the bank to the
1598	1632		24 Commissioner. In making the examination the examiners
1599	1633		25 shall include an examination of the affairs of all the
1600	1634		26 affiliates of the bank, as defined in subsection (b) of
1601	1635
1602	1636
1603	1637
1604	1638
1605	1639
1606		-	HB3467 ~~Engrossed~~ - 45 - LRB104 10334 BAB 20408 b
1607		-
1608		-
1609		-	HB3467 ~~Engrossed~~- 46 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 46 - LRB104 10334 BAB 20408 b
1610		-	HB3467 ~~Engrossed~~ - 46 - LRB104 10334 BAB 20408 b
	1640	+	HB3467 - 45 - LRB104 10334 BAB 20408 b
	1641	+
	1642	+
	1643	+	HB3467- 46 -LRB104 10334 BAB 20408 b HB3467 - 46 - LRB104 10334 BAB 20408 b
	1644	+	HB3467 - 46 - LRB104 10334 BAB 20408 b
1611	1645		1 Section 35.2 of this Act, or subsidiaries of the bank as
1612	1646		2 shall be necessary to disclose fully the conditions of the
1613	1647		3 subsidiaries or affiliates, the relations between the bank
1614	1648		4 and the subsidiaries or affiliates and the effect of those
1615	1649		5 relations upon the affairs of the bank, and in connection
1616	1650		6 therewith shall have power to examine any of the officers,
1617	1651		7 directors, agents, or employees of the subsidiaries or
1618	1652		8 affiliates on oath. After May 31, 1997, the Commissioner
1619	1653		9 may enter into cooperative agreements with state
1620	1654		10 regulatory authorities of other states to provide for
1621	1655		11 examination of State bank branches in those states, and
1622	1656		12 the Commissioner may accept reports of examinations of
1623	1657		13 State bank branches from those state regulatory
1624	1658		14 authorities. These cooperative agreements may set forth
1625	1659		15 the manner in which the other state regulatory authorities
1626	1660		16 may be compensated for examinations prepared for and
1627	1661		17 submitted to the Commissioner.
1628	1662		18 (b) After May 31, 1997, the Commissioner is authorized
1629	1663		19 to examine, as often as the Commissioner shall deem
1630	1664		20 necessary or proper, branches of out-of-state banks. The
1631	1665		21 Commissioner may establish and may assess fees to be paid
1632	1666		22 to the Commissioner for examinations under this subsection
1633	1667		23 (b). The fees shall be borne by the out-of-state bank,
1634	1668		24 unless the fees are borne by the state regulatory
1635	1669		25 authority that chartered the out-of-state bank, as
1636	1670		26 determined by a cooperative agreement between the
1637	1671
1638	1672
1639	1673
1640	1674
1641	1675
1642		-	HB3467 ~~Engrossed~~ - 46 - LRB104 10334 BAB 20408 b
1643		-
1644		-
1645		-	HB3467 ~~Engrossed~~- 47 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 47 - LRB104 10334 BAB 20408 b
1646		-	HB3467 ~~Engrossed~~ - 47 - LRB104 10334 BAB 20408 b
	1676	+	HB3467 - 46 - LRB104 10334 BAB 20408 b
	1677	+
	1678	+
	1679	+	HB3467- 47 -LRB104 10334 BAB 20408 b HB3467 - 47 - LRB104 10334 BAB 20408 b
	1680	+	HB3467 - 47 - LRB104 10334 BAB 20408 b
1647	1681		1 Commissioner and the state regulatory authority that
1648	1682		2 chartered the out-of-state bank.
1649	1683		3 (2.1) Pursuant to paragraph (a) of subsection (6) of
1650	1684		4 this Section, the Secretary shall adopt rules that ensure
1651	1685		5 consistency and due process in the examination process.
1652	1686		6 The Secretary may also establish guidelines that (i)
1653	1687		7 define the scope of the examination process and (ii)
1654	1688		8 clarify examination items to be resolved. The rules,
1655	1689		9 formal guidance, interpretive letters, or opinions
1656	1690		10 furnished to State banks by the Secretary may be relied
1657	1691		11 upon by the State banks.
1658	1692		12 (2.5) Whenever any State bank, any subsidiary or
1659	1693		13 affiliate of a State bank, or after May 31, 1997, any
1660	1694		14 branch of an out-of-state bank causes to be performed, by
1661	1695		15 contract or otherwise, any bank services for itself,
1662	1696		16 whether on or off its premises:
1663	1697		17 (a) that performance shall be subject to
1664	1698		18 examination by the Commissioner to the same extent as
1665	1699		19 if services were being performed by the bank or, after
1666	1700		20 May 31, 1997, branch of the out-of-state bank itself
1667	1701		21 on its own premises; and
1668	1702		22 (b) the bank or, after May 31, 1997, branch of the
1669	1703		23 out-of-state bank shall notify the Commissioner of the
1670	1704		24 existence of a service relationship. The notification
1671	1705		25 shall be submitted with the first statement of
1672	1706		26 condition (as required by Section 47 of this Act) due
1673	1707
1674	1708
1675	1709
1676	1710
1677	1711
1678		-	HB3467 ~~Engrossed~~ - 47 - LRB104 10334 BAB 20408 b
1679		-
1680		-
1681		-	HB3467 ~~Engrossed~~- 48 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 48 - LRB104 10334 BAB 20408 b
1682		-	HB3467 ~~Engrossed~~ - 48 - LRB104 10334 BAB 20408 b
	1712	+	HB3467 - 47 - LRB104 10334 BAB 20408 b
	1713	+
	1714	+
	1715	+	HB3467- 48 -LRB104 10334 BAB 20408 b HB3467 - 48 - LRB104 10334 BAB 20408 b
	1716	+	HB3467 - 48 - LRB104 10334 BAB 20408 b
1683	1717		1 after the making of the service contract or the
1684	1718		2 performance of the service, whichever occurs first.
1685	1719		3 The Commissioner shall be notified of each subsequent
1686	1720		4 contract in the same manner.
1687	1721		5 For purposes of this subsection (2.5), the term "bank
1688	1722		6 services" means services such as sorting and posting of
1689	1723		7 checks and deposits, computation and posting of interest
1690	1724		8 and other credits and charges, preparation and mailing of
1691	1725		9 checks, statements, notices, and similar items, or any
1692	1726		10 other clerical, bookkeeping, accounting, statistical, or
1693	1727		11 similar functions performed for a State bank, including,
1694	1728		12 but not limited to, electronic data processing related to
1695	1729		13 those bank services.
1696	1730		14 (3) The expense of administering this Act, including
1697	1731		15 the expense of the examinations of State banks as provided
1698	1732		16 in this Act, shall to the extent of the amounts resulting
1699	1733		17 from the fees provided for in paragraphs (a), (a-2), and
1700	1734		18 (b) of this subsection (3) be assessed against and borne
1701	1735		19 by the State banks:
1702	1736		20 (a) Each bank shall pay to the Secretary a Call
1703	1737		21 Report Fee which shall be paid in quarterly
1704	1738		22 installments equal to one-fourth of the sum of the
1705	1739		23 annual fixed fee of $800, plus a variable fee based on
1706	1740		24 the assets shown on the quarterly statement of
1707	1741		25 condition delivered to the Secretary in accordance
1708	1742		26 with Section 47 for the preceding quarter according to
1709	1743
1710	1744
1711	1745
1712	1746
1713	1747
1714		-	HB3467 ~~Engrossed~~ - 48 - LRB104 10334 BAB 20408 b
1715		-
1716		-
1717		-	HB3467 ~~Engrossed~~- 49 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 49 - LRB104 10334 BAB 20408 b
1718		-	HB3467 ~~Engrossed~~ - 49 - LRB104 10334 BAB 20408 b
	1748	+	HB3467 - 48 - LRB104 10334 BAB 20408 b
	1749	+
	1750	+
	1751	+	HB3467- 49 -LRB104 10334 BAB 20408 b HB3467 - 49 - LRB104 10334 BAB 20408 b
	1752	+	HB3467 - 49 - LRB104 10334 BAB 20408 b
1719	1753		1 the following schedule: 16 per $1,000 of the first
1720	1754		2 $5,000,000 of total assets, 15 per $1,000 of the next
1721	1755		3 $20,000,000 of total assets, 13 per $1,000 of the
1722	1756		4 next $75,000,000 of total assets, 9 per $1,000 of the
1723	1757		5 next $400,000,000 of total assets, 7 per $1,000 of
1724	1758		6 the next $500,000,000 of total assets, and 5 per
1725	1759		7 $1,000 of all assets in excess of $1,000,000,000, of
1726	1760		8 the State bank. The Call Report Fee shall be
1727	1761		9 calculated by the Secretary and billed to the banks
1728	1762		10 for remittance at the time of the quarterly statements
1729	1763		11 of condition provided for in Section 47. The Secretary
1730	1764		12 may require payment of the fees provided in this
1731	1765		13 Section by an electronic transfer of funds or an
1732	1766		14 automatic debit of an account of each of the State
1733	1767		15 banks. In case more than one examination of any bank is
1734	1768		16 deemed by the Secretary to be necessary in any
1735	1769		17 examination frequency cycle specified in subsection
1736	1770		18 2(a) of this Section, and is performed at his
1737	1771		19 direction, the Secretary may assess a reasonable
1738	1772		20 additional fee to recover the cost of the additional
1739	1773		21 examination. In lieu of the method and amounts set
1740	1774		22 forth in this paragraph (a) for the calculation of the
1741	1775		23 Call Report Fee, the Secretary may specify by rule
1742	1776		24 that the Call Report Fees provided by this Section may
1743	1777		25 be assessed semiannually or some other period and may
1744	1778		26 provide in the rule the formula to be used for
1745	1779
1746	1780
1747	1781
1748	1782
1749	1783
1750		-	HB3467 ~~Engrossed~~ - 49 - LRB104 10334 BAB 20408 b
1751		-
1752		-
1753		-	HB3467 ~~Engrossed~~- 50 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 50 - LRB104 10334 BAB 20408 b
1754		-	HB3467 ~~Engrossed~~ - 50 - LRB104 10334 BAB 20408 b
	1784	+	HB3467 - 49 - LRB104 10334 BAB 20408 b
	1785	+
	1786	+
	1787	+	HB3467- 50 -LRB104 10334 BAB 20408 b HB3467 - 50 - LRB104 10334 BAB 20408 b
	1788	+	HB3467 - 50 - LRB104 10334 BAB 20408 b
1755	1789		1 calculating and assessing the periodic Call Report
1756	1790		2 Fees to be paid by State banks.
1757	1791		3 (a-1) If in the opinion of the Commissioner an
1758	1792		4 emergency exists or appears likely, the Commissioner
1759	1793		5 may assign an examiner or examiners to monitor the
1760	1794		6 affairs of a State bank with whatever frequency he
1761	1795		7 deems appropriate, including, but not limited to, a
1762	1796		8 daily basis. The reasonable and necessary expenses of
1763	1797		9 the Commissioner during the period of the monitoring
1764	1798		10 shall be borne by the subject bank. The Commissioner
1765	1799		11 shall furnish the State bank a statement of time and
1766	1800		12 expenses if requested to do so within 30 days of the
1767	1801		13 conclusion of the monitoring period.
1768	1802		14 (a-2) On and after January 1, 1990, the reasonable
1769	1803		15 and necessary expenses of the Commissioner during
1770	1804		16 examination of the performance of electronic data
1771	1805		17 processing services under subsection (2.5) shall be
1772	1806		18 borne by the banks for which the services are
1773	1807		19 provided. An amount, based upon a fee structure
1774	1808		20 prescribed by the Commissioner, shall be paid by the
1775	1809		21 banks or, after May 31, 1997, branches of out-of-state
1776	1810		22 banks receiving the electronic data processing
1777	1811		23 services along with the Call Report Fee assessed under
1778	1812		24 paragraph (a) of this subsection (3).
1779	1813		25 (a-3) After May 31, 1997, the reasonable and
1780	1814		26 necessary expenses of the Commissioner during
1781	1815
1782	1816
1783	1817
1784	1818
1785	1819
1786		-	HB3467 ~~Engrossed~~ - 50 - LRB104 10334 BAB 20408 b
1787		-
1788		-
1789		-	HB3467 ~~Engrossed~~- 51 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 51 - LRB104 10334 BAB 20408 b
1790		-	HB3467 ~~Engrossed~~ - 51 - LRB104 10334 BAB 20408 b
	1820	+	HB3467 - 50 - LRB104 10334 BAB 20408 b
	1821	+
	1822	+
	1823	+	HB3467- 51 -LRB104 10334 BAB 20408 b HB3467 - 51 - LRB104 10334 BAB 20408 b
	1824	+	HB3467 - 51 - LRB104 10334 BAB 20408 b
1791	1825		1 examination of the performance of electronic data
1792	1826		2 processing services under subsection (2.5) at or on
1793	1827		3 behalf of branches of out-of-state banks shall be
1794	1828		4 borne by the out-of-state banks, unless those expenses
1795	1829		5 are borne by the state regulatory authorities that
1796	1830		6 chartered the out-of-state banks, as determined by
1797	1831		7 cooperative agreements between the Commissioner and
1798	1832		8 the state regulatory authorities that chartered the
1799	1833		9 out-of-state banks.
1800	1834		10 (b) "Fiscal year" for purposes of this Section 48
1801	1835		11 is defined as a period beginning July 1 of any year and
1802	1836		12 ending June 30 of the next year. The Commissioner
1803	1837		13 shall receive for each fiscal year, commencing with
1804	1838		14 the fiscal year ending June 30, 1987, a contingent fee
1805	1839		15 equal to the lesser of the aggregate of the fees paid
1806	1840		16 by all State banks under paragraph (a) of subsection
1807	1841		17 (3) for that year, or the amount, if any, whereby the
1808	1842		18 aggregate of the administration expenses, as defined
1809	1843		19 in paragraph (c), for that fiscal year exceeds the sum
1810	1844		20 of the aggregate of the fees payable by all State banks
1811	1845		21 for that year under paragraph (a) of subsection (3),
1812	1846		22 plus any amounts transferred into the Bank and Trust
1813	1847		23 Company Fund from the State Pensions Fund for that
1814	1848		24 year, plus all other amounts collected by the
1815	1849		25 Commissioner for that year under any other provision
1816	1850		26 of this Act, plus the aggregate of all fees collected
1817	1851
1818	1852
1819	1853
1820	1854
1821	1855
1822		-	HB3467 ~~Engrossed~~ - 51 - LRB104 10334 BAB 20408 b
1823		-
1824		-
1825		-	HB3467 ~~Engrossed~~- 52 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 52 - LRB104 10334 BAB 20408 b
1826		-	HB3467 ~~Engrossed~~ - 52 - LRB104 10334 BAB 20408 b
	1856	+	HB3467 - 51 - LRB104 10334 BAB 20408 b
	1857	+
	1858	+
	1859	+	HB3467- 52 -LRB104 10334 BAB 20408 b HB3467 - 52 - LRB104 10334 BAB 20408 b
	1860	+	HB3467 - 52 - LRB104 10334 BAB 20408 b
1827	1861		1 for that year by the Commissioner under the Corporate
1828	1862		2 Fiduciary Act, excluding the receivership fees
1829	1863		3 provided for in Section 5-10 of the Corporate
1830	1864		4 Fiduciary Act, and subsection (b) of Section 17 of the
1831	1865		5 Foreign Banking Office Act. The aggregate amount of
1832	1866		6 the contingent fee thus arrived at for any fiscal year
1833	1867		7 shall be apportioned among, assessed upon, and paid by
1834	1868		8 the State banks and foreign banking corporations,
1835	1869		9 respectively, in the same proportion that the fee of
1836	1870		10 each under paragraph (a) of subsection (3),
1837	1871		11 respectively, for that year bears to the aggregate for
1838	1872		12 that year of the fees collected under paragraph (a) of
1839	1873		13 subsection (3). The aggregate amount of the contingent
1840	1874		14 fee, and the portion thereof to be assessed upon each
1841	1875		15 State bank and foreign banking corporation,
1842	1876		16 respectively, shall be determined by the Commissioner
1843	1877		17 and shall be paid by each, respectively, within 120
1844	1878		18 days of the close of the period for which the
1845	1879		19 contingent fee is computed and is payable, and the
1846	1880		20 Commissioner shall give 20 days' advance notice of the
1847	1881		21 amount of the contingent fee payable by the State bank
1848	1882		22 and of the date fixed by the Commissioner for payment
1849	1883		23 of the fee.
1850	1884		24 (c) The "administration expenses" for any fiscal
1851	1885		25 year shall mean the ordinary and contingent expenses
1852	1886		26 for that year incident to making the examinations
1853	1887
1854	1888
1855	1889
1856	1890
1857	1891
1858		-	HB3467 ~~Engrossed~~ - 52 - LRB104 10334 BAB 20408 b
1859		-
1860		-
1861		-	HB3467 ~~Engrossed~~- 53 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 53 - LRB104 10334 BAB 20408 b
1862		-	HB3467 ~~Engrossed~~ - 53 - LRB104 10334 BAB 20408 b
	1892	+	HB3467 - 52 - LRB104 10334 BAB 20408 b
	1893	+
	1894	+
	1895	+	HB3467- 53 -LRB104 10334 BAB 20408 b HB3467 - 53 - LRB104 10334 BAB 20408 b
	1896	+	HB3467 - 53 - LRB104 10334 BAB 20408 b
1863	1897		1 provided for by, and for otherwise administering, this
1864	1898		2 Act, the Corporate Fiduciary Act, excluding the
1865	1899		3 expenses paid from the Corporate Fiduciary
1866	1900		4 Receivership account in the Bank and Trust Company
1867	1901		5 Fund, the Foreign Banking Office Act, excluding the
1868	1902		6 expenses paid from the Foreign Banking Office
1869	1903		7 Non-insured Institutions Receivership account in the
1870	1904		8 Bank and Trust Company Fund, the Electronic Fund
1871	1905		9 Transfer Act, and the Illinois Bank Examiners'
1872	1906		10 Education Foundation Act, including all salaries and
1873	1907		11 other compensation paid for personal services rendered
1874	1908		12 for the State by officers or employees of the State,
1875	1909		13 including the Commissioner and the Deputy
1876	1910		14 Commissioners, communication equipment and services,
1877	1911		15 office furnishings, surety bond premiums, and travel
1878	1912		16 expenses of those officers and employees, employees,
1879	1913		17 expenditures or charges for the acquisition,
1880	1914		18 enlargement or improvement of, or for the use of, any
1881	1915		19 office space, building, or structure, or expenditures
1882	1916		20 for the maintenance thereof or for furnishing heat,
1883	1917		21 light, or power with respect thereto, all to the
1884	1918		22 extent that those expenditures are directly incidental
1885	1919		23 to such examinations or administration. The
1886	1920		24 Commissioner shall not be required by paragraph (c) or
1887	1921		25 (d-1) of this subsection (3) to maintain in any fiscal
1888	1922		26 year's budget appropriated reserves for accrued
1889	1923
1890	1924
1891	1925
1892	1926
1893	1927
1894		-	HB3467 ~~Engrossed~~ - 53 - LRB104 10334 BAB 20408 b
1895		-
1896		-
1897		-	HB3467 ~~Engrossed~~- 54 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 54 - LRB104 10334 BAB 20408 b
1898		-	HB3467 ~~Engrossed~~ - 54 - LRB104 10334 BAB 20408 b
	1928	+	HB3467 - 53 - LRB104 10334 BAB 20408 b
	1929	+
	1930	+
	1931	+	HB3467- 54 -LRB104 10334 BAB 20408 b HB3467 - 54 - LRB104 10334 BAB 20408 b
	1932	+	HB3467 - 54 - LRB104 10334 BAB 20408 b
1899	1933		1 vacation and accrued sick leave that is required to be
1900	1934		2 paid to employees of the Commissioner upon termination
1901	1935		3 of their service with the Commissioner in an amount
1902	1936		4 that is more than is reasonably anticipated to be
1903	1937		5 necessary for any anticipated turnover in employees,
1904	1938		6 whether due to normal attrition or due to layoffs,
1905	1939		7 terminations, or resignations.
1906	1940		8 (c-1) At the conclusion of each fiscal year,
1907	1941		9 beginning in fiscal year 2025, the Department shall
1908	1942		10 separately identify the direct administrative and
1909	1943		11 operational expenses and allocable indirect costs of
1910	1944		12 the Division of Banking of the Department incidental
1911	1945		13 to conducting the examinations required or authorized
1912	1946		14 by the Illinois Community Reinvestment Act and
1913	1947		15 implementing rules adopted by the Department. Pursuant
1914	1948		16 to Section 2105-300 of the Department of Professional
1915	1949		17 Regulation Law of the Civil Administrative Code of
1916	1950		18 Illinois, the Department shall make copies of the
1917	1951		19 analyses available to the banking industry in a timely
1918	1952		20 manner. The administrative and operational expenses of
1919	1953		21 the Division of Banking of the Department in
1920	1954		22 conducting examinations required or authorized by the
1921	1955		23 Illinois Community Reinvestment Act shall have the
1922	1956		24 same meaning and scope as the administration expenses
1923	1957		25 of the Division of Banking of the Department, as
1924	1958		26 defined in paragraph (c) of subsection (3).
1925	1959
1926	1960
1927	1961
1928	1962
1929	1963
1930		-	HB3467 ~~Engrossed~~ - 54 - LRB104 10334 BAB 20408 b
1931		-
1932		-
1933		-	HB3467 ~~Engrossed~~- 55 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 55 - LRB104 10334 BAB 20408 b
1934		-	HB3467 ~~Engrossed~~ - 55 - LRB104 10334 BAB 20408 b
	1964	+	HB3467 - 54 - LRB104 10334 BAB 20408 b
	1965	+
	1966	+
	1967	+	HB3467- 55 -LRB104 10334 BAB 20408 b HB3467 - 55 - LRB104 10334 BAB 20408 b
	1968	+	HB3467 - 55 - LRB104 10334 BAB 20408 b
1935	1969		1 (d) The aggregate of all fees collected by the
1936	1970		2 Secretary under this Act, the Corporate Fiduciary Act,
1937	1971		3 or the Foreign Banking Office Act on and after July 1,
1938	1972		4 1979, and from State banks and savings banks pursuant
1939	1973		5 to the Illinois Community Reinvestment Act shall be
1940	1974		6 paid promptly after receipt of the same, accompanied
1941	1975		7 by a detailed statement thereof, into the State
1942	1976		8 treasury and shall be set apart in a special fund to be
1943	1977		9 known as the Bank and Trust Company Fund, except as
1944	1978		10 provided in paragraph (c) of subsection (11) of this
1945	1979		11 Section. All earnings received from investments of
1946	1980		12 funds in the Bank and Trust Company Fund shall be
1947	1981		13 deposited into the Bank and Trust Company Fund and may
1948	1982		14 be used for the same purposes as fees deposited into
1949	1983		15 that Fund. The amount from time to time deposited into
1950	1984		16 the Bank and Trust Company Fund shall be used: (i) to
1951	1985		17 offset the ordinary administrative expenses of the
1952	1986		18 Secretary as defined in this Section or (ii) except
1953	1987		19 earnings received from investments of funds in the
1954	1988		20 Corporate Fiduciary Receivership account and the
1955	1989		21 Foreign Banking Office Non-insured Institutions
1956	1990		22 Receivership account, as a credit against fees under
1957	1991		23 paragraph (d-1) of this subsection (3). Nothing in
1958	1992		24 Public Act 81-131 shall prevent continuing the
1959	1993		25 practice of paying expenses involving salaries,
1960	1994		26 retirement, social security, and State-paid insurance
1961	1995
1962	1996
1963	1997
1964	1998
1965	1999
1966		-	HB3467 ~~Engrossed~~ - 55 - LRB104 10334 BAB 20408 b
1967		-
1968		-
1969		-	HB3467 ~~Engrossed~~- 56 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 56 - LRB104 10334 BAB 20408 b
1970		-	HB3467 ~~Engrossed~~ - 56 - LRB104 10334 BAB 20408 b
	2000	+	HB3467 - 55 - LRB104 10334 BAB 20408 b
	2001	+
	2002	+
	2003	+	HB3467- 56 -LRB104 10334 BAB 20408 b HB3467 - 56 - LRB104 10334 BAB 20408 b
	2004	+	HB3467 - 56 - LRB104 10334 BAB 20408 b
1971	2005		1 premiums of State officers by appropriations from the
1972	2006		2 General Revenue Fund. However, the General Revenue
1973	2007		3 Fund shall be reimbursed for those payments made on
1974	2008		4 and after July 1, 1979, by an annual transfer of funds
1975	2009		5 from the Bank and Trust Company Fund. Moneys in the
1976	2010		6 Bank and Trust Company Fund may be transferred to the
1977	2011		7 Professions Indirect Cost Fund, as authorized under
1978	2012		8 Section 2105-300 of the Department of Professional
1979	2013		9 Regulation Law of the Civil Administrative Code of
1980	2014		10 Illinois.
1981	2015		11 Notwithstanding provisions in the State Finance
1982	2016		12 Act, as now or hereafter amended, or any other law to
1983	2017		13 the contrary, the Governor may, during any fiscal year
1984	2018		14 through January 10, 2011, from time to time direct the
1985	2019		15 State Treasurer and Comptroller to transfer a
1986	2020		16 specified sum not exceeding 10% of the revenues to be
1987	2021		17 deposited into the Bank and Trust Company Fund during
1988	2022		18 that fiscal year from that Fund to the General Revenue
1989	2023		19 Fund in order to help defray the State's operating
1990	2024		20 costs for the fiscal year. Notwithstanding provisions
1991	2025		21 in the State Finance Act, as now or hereafter amended,
1992	2026		22 or any other law to the contrary, the total sum
1993	2027		23 transferred during any fiscal year through January 10,
1994	2028		24 2011, from the Bank and Trust Company Fund to the
1995	2029		25 General Revenue Fund pursuant to this provision shall
1996	2030		26 not exceed during any fiscal year 10% of the revenues
1997	2031
1998	2032
1999	2033
2000	2034
2001	2035
2002		-	HB3467 ~~Engrossed~~ - 56 - LRB104 10334 BAB 20408 b
2003		-
2004		-
2005		-	HB3467 ~~Engrossed~~- 57 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 57 - LRB104 10334 BAB 20408 b
2006		-	HB3467 ~~Engrossed~~ - 57 - LRB104 10334 BAB 20408 b
	2036	+	HB3467 - 56 - LRB104 10334 BAB 20408 b
	2037	+
	2038	+
	2039	+	HB3467- 57 -LRB104 10334 BAB 20408 b HB3467 - 57 - LRB104 10334 BAB 20408 b
	2040	+	HB3467 - 57 - LRB104 10334 BAB 20408 b
2007	2041		1 to be deposited into the Bank and Trust Company Fund
2008	2042		2 during that fiscal year. The State Treasurer and
2009	2043		3 Comptroller shall transfer the amounts designated
2010	2044		4 under this Section as soon as may be practicable after
2011	2045		5 receiving the direction to transfer from the Governor.
2012	2046		6 (d-1) Adequate funds shall be available in the
2013	2047		7 Bank and Trust Company Fund to permit the timely
2014	2048		8 payment of administration expenses. In each fiscal
2015	2049		9 year the total administration expenses shall be
2016	2050		10 deducted from the total fees collected by the
2017	2051		11 Commissioner and the remainder transferred into the
2018	2052		12 Cash Flow Reserve Account, unless the balance of the
2019	2053		13 Cash Flow Reserve Account prior to the transfer equals
2020	2054		14 or exceeds one-fourth of the total initial
2021	2055		15 appropriations from the Bank and Trust Company Fund
2022	2056		16 for the subsequent year, in which case the remainder
2023	2057		17 shall be credited to State banks and foreign banking
2024	2058		18 corporations and applied against their fees for the
2025	2059		19 subsequent year. The amount credited to each State
2026	2060		20 bank and foreign banking corporation shall be in the
2027	2061		21 same proportion as the Call Report Fees paid by each
2028	2062		22 for the year bear to the total Call Report Fees
2029	2063		23 collected for the year. If, after a transfer to the
2030	2064		24 Cash Flow Reserve Account is made or if no remainder is
2031	2065		25 available for transfer, the balance of the Cash Flow
2032	2066		26 Reserve Account is less than one-fourth of the total
2033	2067
2034	2068
2035	2069
2036	2070
2037	2071
2038		-	HB3467 ~~Engrossed~~ - 57 - LRB104 10334 BAB 20408 b
2039		-
2040		-
2041		-	HB3467 ~~Engrossed~~- 58 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 58 - LRB104 10334 BAB 20408 b
2042		-	HB3467 ~~Engrossed~~ - 58 - LRB104 10334 BAB 20408 b
	2072	+	HB3467 - 57 - LRB104 10334 BAB 20408 b
	2073	+
	2074	+
	2075	+	HB3467- 58 -LRB104 10334 BAB 20408 b HB3467 - 58 - LRB104 10334 BAB 20408 b
	2076	+	HB3467 - 58 - LRB104 10334 BAB 20408 b
2043	2077		1 initial appropriations for the subsequent year and the
2044	2078		2 amount transferred is less than 5% of the total Call
2045	2079		3 Report Fees for the year, additional amounts needed to
2046	2080		4 make the transfer equal to 5% of the total Call Report
2047	2081		5 Fees for the year shall be apportioned among, assessed
2048	2082		6 upon, and paid by the State banks and foreign banking
2049	2083		7 corporations in the same proportion that the Call
2050	2084		8 Report Fees of each, respectively, for the year bear
2051	2085		9 to the total Call Report Fees collected for the year.
2052	2086		10 The additional amounts assessed shall be transferred
2053	2087		11 into the Cash Flow Reserve Account. For purposes of
2054	2088		12 this paragraph (d-1), the calculation of the fees
2055	2089		13 collected by the Commissioner shall exclude all fees
2056	2090		14 collected pursuant to the Student Loan Servicing
2057	2091		15 Rights Act, the Foreign Banking Office Act, and the
2058	2092		16 Foreign Bank Representative Office Act and the
2059	2093		17 receivership fees provided for in Section 5-10 of the
2060	2094		18 Corporate Fiduciary Act.
2061	2095		19 (e) The Commissioner may upon request certify to
2062	2096		20 any public record in his keeping and shall have
2063	2097		21 authority to levy a reasonable charge for issuing
2064	2098		22 certifications of any public record in his keeping.
2065	2099		23 (f) In addition to fees authorized elsewhere in
2066	2100		24 this Act, the Commissioner may, in connection with a
2067	2101		25 review, approval, or provision of a service, levy a
2068	2102		26 reasonable charge to recover the cost of the review,
2069	2103
2070	2104
2071	2105
2072	2106
2073	2107
2074		-	HB3467 ~~Engrossed~~ - 58 - LRB104 10334 BAB 20408 b
2075		-
2076		-
2077		-	HB3467 ~~Engrossed~~- 59 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 59 - LRB104 10334 BAB 20408 b
2078		-	HB3467 ~~Engrossed~~ - 59 - LRB104 10334 BAB 20408 b
	2108	+	HB3467 - 58 - LRB104 10334 BAB 20408 b
	2109	+
	2110	+
	2111	+	HB3467- 59 -LRB104 10334 BAB 20408 b HB3467 - 59 - LRB104 10334 BAB 20408 b
	2112	+	HB3467 - 59 - LRB104 10334 BAB 20408 b
2079	2113		1 approval, or service.
2080	2114		2 (4) Nothing contained in this Act shall be construed
2081	2115		3 to limit the obligation relative to examinations and
2082	2116		4 reports of any State bank, deposits in which are to any
2083	2117		5 extent insured by the United States or any agency thereof,
2084	2118		6 nor to limit in any way the powers of the Commissioner with
2085	2119		7 reference to examinations and reports of that bank.
2086	2120		8 (5) The nature and condition of the assets in or
2087	2121		9 investment of any bonus, pension, or profit sharing plan
2088	2122		10 for officers or employees of every State bank or, after
2089	2123		11 May 31, 1997, branch of an out-of-state bank shall be
2090	2124		12 deemed to be included in the affairs of that State bank or
2091	2125		13 branch of an out-of-state bank subject to examination by
2092	2126		14 the Commissioner under the provisions of subsection (2) of
2093	2127		15 this Section, and if the Commissioner shall find from an
2094	2128		16 examination that the condition of or operation of the
2095	2129		17 investments or assets of the plan is unlawful, fraudulent,
2096	2130		18 or unsafe, or that any trustee has abused his trust, the
2097	2131		19 Commissioner shall, if the situation so found by the
2098	2132		20 Commissioner shall not be corrected to his satisfaction
2099	2133		21 within 60 days after the Commissioner has given notice to
2100	2134		22 the board of directors of the State bank or out-of-state
2101	2135		23 bank of his findings, report the facts to the Attorney
2102	2136		24 General who shall thereupon institute proceedings against
2103	2137		25 the State bank or out-of-state bank, the board of
2104	2138		26 directors thereof, or the trustees under such plan as the
2105	2139
2106	2140
2107	2141
2108	2142
2109	2143
2110		-	HB3467 ~~Engrossed~~ - 59 - LRB104 10334 BAB 20408 b
2111		-
2112		-
2113		-	HB3467 ~~Engrossed~~- 60 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 60 - LRB104 10334 BAB 20408 b
2114		-	HB3467 ~~Engrossed~~ - 60 - LRB104 10334 BAB 20408 b
	2144	+	HB3467 - 59 - LRB104 10334 BAB 20408 b
	2145	+
	2146	+
	2147	+	HB3467- 60 -LRB104 10334 BAB 20408 b HB3467 - 60 - LRB104 10334 BAB 20408 b
	2148	+	HB3467 - 60 - LRB104 10334 BAB 20408 b
2115	2149		1 nature of the case may require.
2116	2150		2 (6) The Commissioner shall have the power:
2117	2151		3 (a) To promulgate reasonable rules for the purpose
2118	2152		4 of administering the provisions of this Act.
2119	2153		5 (a-5) To impose conditions on any approval issued
2120	2154		6 by the Commissioner if he determines that the
2121	2155		7 conditions are necessary or appropriate. These
2122	2156		8 conditions shall be imposed in writing and shall
2123	2157		9 continue in effect for the period prescribed by the
2124	2158		10 Commissioner.
2125	2159		11 (b) To issue orders against any person, if the
2126	2160		12 Commissioner has reasonable cause to believe that an
2127	2161		13 unsafe or unsound banking practice has occurred, is
2128	2162		14 occurring, or is about to occur, if any person has
2129	2163		15 violated, is violating, or is about to violate any
2130	2164		16 law, rule, or written agreement with the Commissioner,
2131	2165		17 or for the purpose of administering the provisions of
2132	2166		18 this Act and any rule promulgated in accordance with
2133	2167		19 this Act.
2134	2168		20 (b-1) To enter into agreements with a bank
2135	2169		21 establishing a program to correct the condition of the
2136	2170		22 bank or its practices.
2137	2171		23 (c) To appoint hearing officers to execute any of
2138	2172		24 the powers granted to the Commissioner under this
2139	2173		25 Section for the purpose of administering this Act and
2140	2174		26 any rule promulgated in accordance with this Act and
2141	2175
2142	2176
2143	2177
2144	2178
2145	2179
2146		-	HB3467 ~~Engrossed~~ - 60 - LRB104 10334 BAB 20408 b
2147		-
2148		-
2149		-	HB3467 ~~Engrossed~~- 61 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 61 - LRB104 10334 BAB 20408 b
2150		-	HB3467 ~~Engrossed~~ - 61 - LRB104 10334 BAB 20408 b
	2180	+	HB3467 - 60 - LRB104 10334 BAB 20408 b
	2181	+
	2182	+
	2183	+	HB3467- 61 -LRB104 10334 BAB 20408 b HB3467 - 61 - LRB104 10334 BAB 20408 b
	2184	+	HB3467 - 61 - LRB104 10334 BAB 20408 b
2151	2185		1 otherwise to authorize, in writing, an officer or
2152	2186		2 employee of the Office of Banks and Real Estate to
2153	2187		3 exercise his powers under this Act.
2154	2188		4 (d) To subpoena witnesses, to compel their
2155	2189		5 attendance, to administer an oath, to examine any
2156	2190		6 person under oath, and to require the production of
2157	2191		7 any relevant books, papers, accounts, and documents in
2158	2192		8 the course of and pursuant to any investigation being
2159	2193		9 conducted, or any action being taken, by the
2160	2194		10 Commissioner in respect of any matter relating to the
2161	2195		11 duties imposed upon, or the powers vested in, the
2162	2196		12 Commissioner under the provisions of this Act or any
2163	2197		13 rule promulgated in accordance with this Act.
2164	2198		14 (e) To conduct hearings.
2165	2199		15 (7) Whenever, in the opinion of the Secretary, any
2166	2200		16 director, officer, employee, or agent of a State bank or
2167	2201		17 any subsidiary or bank holding company of the bank or,
2168	2202		18 after May 31, 1997, of any branch of an out-of-state bank
2169	2203		19 or any subsidiary or bank holding company of the bank
2170	2204		20 shall have violated any law, rule, or order relating to
2171	2205		21 that bank or any subsidiary or bank holding company of the
2172	2206		22 bank, shall have obstructed or impeded any examination or
2173	2207		23 investigation by the Secretary, shall have engaged in an
2174	2208		24 unsafe or unsound practice in conducting the business of
2175	2209		25 that bank or any subsidiary or bank holding company of the
2176	2210		26 bank, or shall have violated any law or engaged or
2177	2211
2178	2212
2179	2213
2180	2214
2181	2215
2182		-	HB3467 ~~Engrossed~~ - 61 - LRB104 10334 BAB 20408 b
2183		-
2184		-
2185		-	HB3467 ~~Engrossed~~- 62 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 62 - LRB104 10334 BAB 20408 b
2186		-	HB3467 ~~Engrossed~~ - 62 - LRB104 10334 BAB 20408 b
	2216	+	HB3467 - 61 - LRB104 10334 BAB 20408 b
	2217	+
	2218	+
	2219	+	HB3467- 62 -LRB104 10334 BAB 20408 b HB3467 - 62 - LRB104 10334 BAB 20408 b
	2220	+	HB3467 - 62 - LRB104 10334 BAB 20408 b
2187	2221		1 participated in any unsafe or unsound practice in
2188	2222		2 connection with any financial institution or other
2189	2223		3 business entity such that the character and fitness of the
2190	2224		4 director, officer, employee, or agent does not assure
2191	2225		5 reasonable promise of safe and sound operation of the
2192	2226		6 State bank, the Secretary may issue an order of removal.
2193	2227		7 If, in the opinion of the Secretary, any former director,
2194	2228		8 officer, employee, or agent of a State bank or any
2195	2229		9 subsidiary or bank holding company of the bank, prior to
2196	2230		10 the termination of his or her service with that bank or any
2197	2231		11 subsidiary or bank holding company of the bank, violated
2198	2232		12 any law, rule, or order relating to that State bank or any
2199	2233		13 subsidiary or bank holding company of the bank, obstructed
2200	2234		14 or impeded any examination or investigation by the
2201	2235		15 Secretary, engaged in an unsafe or unsound practice in
2202	2236		16 conducting the business of that bank or any subsidiary or
2203	2237		17 bank holding company of the bank, or violated any law or
2204	2238		18 engaged or participated in any unsafe or unsound practice
2205	2239		19 in connection with any financial institution or other
2206	2240		20 business entity such that the character and fitness of the
2207	2241		21 director, officer, employee, or agent would not have
2208	2242		22 assured reasonable promise of safe and sound operation of
2209	2243		23 the State bank, the Secretary may issue an order
2210	2244		24 prohibiting that person from further service with a bank
2211	2245		25 or any subsidiary or bank holding company of the bank as a
2212	2246		26 director, officer, employee, or agent. An order issued
2213	2247
2214	2248
2215	2249
2216	2250
2217	2251
2218		-	HB3467 ~~Engrossed~~ - 62 - LRB104 10334 BAB 20408 b
2219		-
2220		-
2221		-	HB3467 ~~Engrossed~~- 63 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 63 - LRB104 10334 BAB 20408 b
2222		-	HB3467 ~~Engrossed~~ - 63 - LRB104 10334 BAB 20408 b
	2252	+	HB3467 - 62 - LRB104 10334 BAB 20408 b
	2253	+
	2254	+
	2255	+	HB3467- 63 -LRB104 10334 BAB 20408 b HB3467 - 63 - LRB104 10334 BAB 20408 b
	2256	+	HB3467 - 63 - LRB104 10334 BAB 20408 b
2223	2257		1 pursuant to this subsection shall be served upon the
2224	2258		2 director, officer, employee, or agent. A copy of the order
2225	2259		3 shall be sent to each director of the bank affected by
2226	2260		4 registered mail. A copy of the order shall also be served
2227	2261		5 upon the bank of which he is a director, officer,
2228	2262		6 employee, or agent, whereupon he shall cease to be a
2229	2263		7 director, officer, employee, or agent of that bank. The
2230	2264		8 Secretary may institute a civil action against the
2231	2265		9 director, officer, or agent of the State bank or, after
2232	2266		10 May 31, 1997, of the branch of the out-of-state bank
2233	2267		11 against whom any order provided for by this subsection (7)
2234	2268		12 of this Section 48 has been issued, and against the State
2235	2269		13 bank or, after May 31, 1997, out-of-state bank, to enforce
2236	2270		14 compliance with or to enjoin any violation of the terms of
2237	2271		15 the order. Any person who has been the subject of an order
2238	2272		16 of removal or an order of prohibition issued by the
2239	2273		17 Secretary under this subsection or Section 5-6 of the
2240	2274		18 Corporate Fiduciary Act may not thereafter serve as
2241	2275		19 director, officer, employee, or agent of any State bank or
2242	2276		20 of any branch of any out-of-state bank, or of any
2243	2277		21 corporate fiduciary, as defined in Section 1-5.05 of the
2244	2278		22 Corporate Fiduciary Act, or of any other entity that is
2245	2279		23 subject to licensure or regulation by the Division of
2246	2280		24 Banking unless the Secretary has granted prior approval in
2247	2281		25 writing.
2248	2282		26 For purposes of this paragraph (7), "bank holding
2249	2283
2250	2284
2251	2285
2252	2286
2253	2287
2254		-	HB3467 ~~Engrossed~~ - 63 - LRB104 10334 BAB 20408 b
2255		-
2256		-
2257		-	HB3467 ~~Engrossed~~- 64 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 64 - LRB104 10334 BAB 20408 b
2258		-	HB3467 ~~Engrossed~~ - 64 - LRB104 10334 BAB 20408 b
	2288	+	HB3467 - 63 - LRB104 10334 BAB 20408 b
	2289	+
	2290	+
	2291	+	HB3467- 64 -LRB104 10334 BAB 20408 b HB3467 - 64 - LRB104 10334 BAB 20408 b
	2292	+	HB3467 - 64 - LRB104 10334 BAB 20408 b
2259	2293		1 company" has the meaning prescribed in Section 2 of the
2260	2294		2 Illinois Bank Holding Company Act of 1957.
2261	2295		3 (7.5) Notwithstanding the provisions of this Section,
2262	2296		4 the Secretary shall not:
2263	2297		5 (1) issue an order against a State bank or any
2264	2298		6 subsidiary organized under this Act for unsafe or
2265	2299		7 unsound banking practices solely because the entity
2266	2300		8 provides or has provided financial services to a
2267	2301		9 cannabis-related legitimate business;
2268	2302		10 (2) prohibit, penalize, or otherwise discourage a
2269	2303		11 State bank or any subsidiary from providing financial
2270	2304		12 services to a cannabis-related legitimate business
2271	2305		13 solely because the entity provides or has provided
2272	2306		14 financial services to a cannabis-related legitimate
2273	2307		15 business;
2274	2308		16 (3) recommend, incentivize, or encourage a State
2275	2309		17 bank or any subsidiary not to offer financial services
2276	2310		18 to an account holder or to downgrade or cancel the
2277	2311		19 financial services offered to an account holder solely
2278	2312		20 because:
2279	2313		21 (A) the account holder is a manufacturer or
2280	2314		22 producer, or is the owner, operator, or employee
2281	2315		23 of a cannabis-related legitimate business;
2282	2316		24 (B) the account holder later becomes an owner
2283	2317		25 or operator of a cannabis-related legitimate
2284	2318		26 business; or
2285	2319
2286	2320
2287	2321
2288	2322
2289	2323
2290		-	HB3467 ~~Engrossed~~ - 64 - LRB104 10334 BAB 20408 b
2291		-
2292		-
2293		-	HB3467 ~~Engrossed~~- 65 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 65 - LRB104 10334 BAB 20408 b
2294		-	HB3467 ~~Engrossed~~ - 65 - LRB104 10334 BAB 20408 b
	2324	+	HB3467 - 64 - LRB104 10334 BAB 20408 b
	2325	+
	2326	+
	2327	+	HB3467- 65 -LRB104 10334 BAB 20408 b HB3467 - 65 - LRB104 10334 BAB 20408 b
	2328	+	HB3467 - 65 - LRB104 10334 BAB 20408 b
2295	2329		1 (C) the State bank or any subsidiary was not
2296	2330		2 aware that the account holder is the owner or
2297	2331		3 operator of a cannabis-related legitimate
2298	2332		4 business; and
2299	2333		5 (4) take any adverse or corrective supervisory
2300	2334		6 action on a loan made to an owner or operator of:
2301	2335		7 (A) a cannabis-related legitimate business
2302	2336		8 solely because the owner or operator owns or
2303	2337		9 operates a cannabis-related legitimate business;
2304	2338		10 or
2305	2339		11 (B) real estate or equipment that is leased to
2306	2340		12 a cannabis-related legitimate business solely
2307	2341		13 because the owner or operator of the real estate
2308	2342		14 or equipment leased the equipment or real estate
2309	2343		15 to a cannabis-related legitimate business.
2310	2344		16 (8) The Commissioner may impose civil penalties of up
2311	2345		17 to $100,000 against any person for each violation of any
2312	2346		18 provision of this Act, any rule promulgated in accordance
2313	2347		19 with this Act, any order of the Commissioner, or any other
2314	2348		20 action which in the Commissioner's discretion is an unsafe
2315	2349		21 or unsound banking practice.
2316	2350		22 (9) The Commissioner may impose civil penalties of up
2317	2351		23 to $100 against any person for the first failure to comply
2318	2352		24 with reporting requirements set forth in the report of
2319	2353		25 examination of the bank and up to $200 for the second and
2320	2354		26 subsequent failures to comply with those reporting
2321	2355
2322	2356
2323	2357
2324	2358
2325	2359
2326		-	HB3467 ~~Engrossed~~ - 65 - LRB104 10334 BAB 20408 b
2327		-
2328		-
2329		-	HB3467 ~~Engrossed~~- 66 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 66 - LRB104 10334 BAB 20408 b
2330		-	HB3467 ~~Engrossed~~ - 66 - LRB104 10334 BAB 20408 b
	2360	+	HB3467 - 65 - LRB104 10334 BAB 20408 b
	2361	+
	2362	+
	2363	+	HB3467- 66 -LRB104 10334 BAB 20408 b HB3467 - 66 - LRB104 10334 BAB 20408 b
	2364	+	HB3467 - 66 - LRB104 10334 BAB 20408 b
2331	2365		1 requirements.
2332	2366		2 (10) All final administrative decisions of the
2333	2367		3 Commissioner hereunder shall be subject to judicial review
2334	2368		4 pursuant to the provisions of the Administrative Review
2335	2369		5 Law. For matters involving administrative review, venue
2336	2370		6 shall be in either Sangamon County or Cook County.
2337	2371		7 (11) The endowment fund for the Illinois Bank
2338	2372		8 Examiners' Education Foundation shall be administered as
2339	2373		9 follows:
2340	2374		10 (a) (Blank).
2341	2375		11 (b) The Foundation is empowered to receive
2342	2376		12 voluntary contributions, gifts, grants, bequests, and
2343	2377		13 donations on behalf of the Illinois Bank Examiners'
2344	2378		14 Education Foundation from national banks and other
2345	2379		15 persons for the purpose of funding the endowment of
2346	2380		16 the Illinois Bank Examiners' Education Foundation.
2347	2381		17 (c) The aggregate of all special educational fees
2348	2382		18 collected by the Secretary and property received by
2349	2383		19 the Secretary on behalf of the Illinois Bank
2350	2384		20 Examiners' Education Foundation under this subsection
2351	2385		21 (11) on or after June 30, 1986, shall be either (i)
2352	2386		22 promptly paid after receipt of the same, accompanied
2353	2387		23 by a detailed statement thereof, into the State
2354	2388		24 treasury and shall be set apart in a special fund to be
2355	2389		25 known as the Illinois Bank Examiners' Education Fund
2356	2390		26 to be invested by either the Treasurer of the State of
2357	2391
2358	2392
2359	2393
2360	2394
2361	2395
2362		-	HB3467 ~~Engrossed~~ - 66 - LRB104 10334 BAB 20408 b
2363		-
2364		-
2365		-	HB3467 ~~Engrossed~~- 67 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 67 - LRB104 10334 BAB 20408 b
2366		-	HB3467 ~~Engrossed~~ - 67 - LRB104 10334 BAB 20408 b
	2396	+	HB3467 - 66 - LRB104 10334 BAB 20408 b
	2397	+
	2398	+
	2399	+	HB3467- 67 -LRB104 10334 BAB 20408 b HB3467 - 67 - LRB104 10334 BAB 20408 b
	2400	+	HB3467 - 67 - LRB104 10334 BAB 20408 b
2367	2401		1 Illinois in the Public Treasurers' Investment Pool or
2368	2402		2 in any other investment he is authorized to make or by
2369	2403		3 the Illinois State Board of Investment as the State
2370	2404		4 Banking Board of Illinois may direct or (ii) deposited
2371	2405		5 into an account maintained in a commercial bank or
2372	2406		6 corporate fiduciary in the name of the Illinois Bank
2373	2407		7 Examiners' Education Foundation pursuant to the order
2374	2408		8 and direction of the Board of Trustees of the Illinois
2375	2409		9 Bank Examiners' Education Foundation.
2376	2410		10 (12) (Blank).
2377	2411		11 (13) The Secretary may borrow funds from the General
2378	2412		12 Revenue Fund on behalf of the Bank and Trust Company Fund
2379	2413		13 if the Director of Banking certifies to the Governor that
2380	2414		14 there is an economic emergency affecting banking that
2381	2415		15 requires a borrowing to provide additional funds to the
2382	2416		16 Bank and Trust Company Fund. The borrowed funds shall be
2383	2417		17 paid back within 3 years and shall not exceed the total
2384	2418		18 funding appropriated to the Agency in the previous year.
2385	2419		19 (14) In addition to the fees authorized in this Act,
2386	2420		20 the Secretary may assess reasonable receivership fees
2387	2421		21 against any State bank that does not maintain insurance
2388	2422		22 with the Federal Deposit Insurance Corporation. All fees
2389	2423		23 collected under this subsection (14) shall be paid into
2390	2424		24 the Non-insured Institutions Receivership account in the
2391	2425		25 Bank and Trust Company Fund, as established by the
2392	2426		26 Secretary. The fees assessed under this subsection (14)
2393	2427
2394	2428
2395	2429
2396	2430
2397	2431
2398		-	HB3467 ~~Engrossed~~ - 67 - LRB104 10334 BAB 20408 b
2399		-
2400		-
2401		-	HB3467 ~~Engrossed~~- 68 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 68 - LRB104 10334 BAB 20408 b
2402		-	HB3467 ~~Engrossed~~ - 68 - LRB104 10334 BAB 20408 b
	2432	+	HB3467 - 67 - LRB104 10334 BAB 20408 b
	2433	+
	2434	+
	2435	+	HB3467- 68 -LRB104 10334 BAB 20408 b HB3467 - 68 - LRB104 10334 BAB 20408 b
	2436	+	HB3467 - 68 - LRB104 10334 BAB 20408 b
2403	2437		1 shall provide for the expenses that arise from the
2404	2438		2 administration of the receivership of any such institution
2405	2439		3 required to pay into the Non-insured Institutions
2406	2440		4 Receivership account, whether pursuant to this Act, the
2407	2441		5 Corporate Fiduciary Act, the Foreign Banking Office Act,
2408	2442		6 or any other Act that requires payments into the
2409	2443		7 Non-insured Institutions Receivership account. The
2410	2444		8 Secretary may establish by rule a reasonable manner of
2411	2445		9 assessing fees under this subsection (14).
2412	2446		10 (Source: P.A. 102-558, eff. 8-20-21; 103-154, eff. 6-30-23.)
2413	2447		11 (205 ILCS 5/48.1) (from Ch. 17, par. 360)
2414	2448		12 Sec. 48.1. Customer financial records; confidentiality.
2415	2449		13 (a) For the purpose of this Section, the term "financial
2416	2450		14 records" means any original, any copy, or any summary of:
2417	2451		15 (1) a document granting signature authority over a
2418	2452		16 deposit or account;
2419	2453		17 (2) a statement, ledger card or other record on any
2420	2454		18 deposit or account, which shows each transaction in or
2421	2455		19 with respect to that account;
2422	2456		20 (3) a check, draft or money order drawn on a bank or
2423	2457		21 issued and payable by a bank; or
2424	2458		22 (4) any other item containing information pertaining
2425	2459		23 to any relationship established in the ordinary course of
2426	2460		24 a bank's business between a bank and its customer,
2427	2461		25 including financial statements or other financial
2428	2462
2429	2463
2430	2464
2431	2465
2432	2466
2433		-	HB3467 ~~Engrossed~~ - 68 - LRB104 10334 BAB 20408 b
2434		-
2435		-
2436		-	HB3467 ~~Engrossed~~- 69 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 69 - LRB104 10334 BAB 20408 b
2437		-	HB3467 ~~Engrossed~~ - 69 - LRB104 10334 BAB 20408 b
	2467	+	HB3467 - 68 - LRB104 10334 BAB 20408 b
	2468	+
	2469	+
	2470	+	HB3467- 69 -LRB104 10334 BAB 20408 b HB3467 - 69 - LRB104 10334 BAB 20408 b
	2471	+	HB3467 - 69 - LRB104 10334 BAB 20408 b
2438	2472		1 information provided by the customer.
2439	2473		2 (b) This Section does not prohibit:
2440	2474		3 (1) The preparation, examination, handling or
2441	2475		4 maintenance of any financial records by any officer,
2442	2476		5 employee or agent of a bank having custody of the records,
2443	2477		6 or the examination of the records by a certified public
2444	2478		7 accountant engaged by the bank to perform an independent
2445	2479		8 audit.
2446	2480		9 (2) The examination of any financial records by, or
2447	2481		10 the furnishing of financial records by a bank to, any
2448	2482		11 officer, employee or agent of (i) the Commissioner of
2449	2483		12 Banks and Real Estate, (ii) after May 31, 1997, a state
2450	2484		13 regulatory authority authorized to examine a branch of a
2451	2485		14 State bank located in another state, (iii) the Comptroller
2452	2486		15 of the Currency, (iv) the Federal Reserve Board, or (v)
2453	2487		16 the Federal Deposit Insurance Corporation for use solely
2454	2488		17 in the exercise of his duties as an officer, employee, or
2455	2489		18 agent.
2456	2490		19 (3) The publication of data furnished from financial
2457	2491		20 records relating to customers where the data cannot be
2458	2492		21 identified to any particular customer or account.
2459	2493		22 (4) The making of reports or returns required under
2460	2494		23 Chapter 61 of the Internal Revenue Code of 1986.
2461	2495		24 (5) Furnishing information concerning the dishonor of
2462	2496		25 any negotiable instrument permitted to be disclosed under
2463	2497		26 the Uniform Commercial Code.
2464	2498
2465	2499
2466	2500
2467	2501
2468	2502
2469		-	HB3467 ~~Engrossed~~ - 69 - LRB104 10334 BAB 20408 b
2470		-
2471		-
2472		-	HB3467 ~~Engrossed~~- 70 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 70 - LRB104 10334 BAB 20408 b
2473		-	HB3467 ~~Engrossed~~ - 70 - LRB104 10334 BAB 20408 b
	2503	+	HB3467 - 69 - LRB104 10334 BAB 20408 b
	2504	+
	2505	+
	2506	+	HB3467- 70 -LRB104 10334 BAB 20408 b HB3467 - 70 - LRB104 10334 BAB 20408 b
	2507	+	HB3467 - 70 - LRB104 10334 BAB 20408 b
2474	2508		1 (6) The exchange in the regular course of business of
2475	2509		2 (i) credit information between a bank and other banks or
2476	2510		3 financial institutions or commercial enterprises, directly
2477	2511		4 or through a consumer reporting agency or (ii) financial
2478	2512		5 records or information derived from financial records
2479	2513		6 between a bank and other banks or financial institutions
2480	2514		7 or commercial enterprises for the purpose of conducting
2481	2515		8 due diligence pursuant to a purchase or sale involving the
2482	2516		9 bank or assets or liabilities of the bank.
2483	2517		10 (7) The furnishing of information to the appropriate
2484	2518		11 law enforcement authorities where the bank reasonably
2485	2519		12 believes it has been the victim of a crime.
2486	2520		13 (8) The furnishing of information under the Revised
2487	2521		14 Uniform Unclaimed Property Act.
2488	2522		15 (9) The furnishing of information under the Illinois
2489	2523		16 Income Tax Act and the Illinois Estate and
2490	2524		17 Generation-Skipping Transfer Tax Act.
2491	2525		18 (10) The furnishing of information under the federal
2492	2526		19 Currency and Foreign Transactions Reporting Act Title 31,
2493	2527		20 United States Code, Section 1051 et seq.
2494	2528		21 (11) The furnishing of information under any other
2495	2529		22 statute that by its terms or by regulations promulgated
2496	2530		23 thereunder requires the disclosure of financial records
2497	2531		24 other than by subpoena, summons, warrant, or court order.
2498	2532		25 (12) The furnishing of information about the existence
2499	2533		26 of an account of a person to a judgment creditor of that
2500	2534
2501	2535
2502	2536
2503	2537
2504	2538
2505		-	HB3467 ~~Engrossed~~ - 70 - LRB104 10334 BAB 20408 b
2506		-
2507		-
2508		-	HB3467 ~~Engrossed~~- 71 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 71 - LRB104 10334 BAB 20408 b
2509		-	HB3467 ~~Engrossed~~ - 71 - LRB104 10334 BAB 20408 b
	2539	+	HB3467 - 70 - LRB104 10334 BAB 20408 b
	2540	+
	2541	+
	2542	+	HB3467- 71 -LRB104 10334 BAB 20408 b HB3467 - 71 - LRB104 10334 BAB 20408 b
	2543	+	HB3467 - 71 - LRB104 10334 BAB 20408 b
2510	2544		1 person who has made a written request for that
2511	2545		2 information.
2512	2546		3 (13) The exchange in the regular course of business of
2513	2547		4 information between commonly owned banks in connection
2514	2548		5 with a transaction authorized under paragraph (23) of
2515	2549		6 Section 5 and conducted at an affiliate facility.
2516	2550		7 (14) The furnishing of information in accordance with
2517	2551		8 the federal Personal Responsibility and Work Opportunity
2518	2552		9 Reconciliation Act of 1996. Any bank governed by this Act
2519	2553		10 shall enter into an agreement for data exchanges with a
2520	2554		11 State agency provided the State agency pays to the bank a
2521	2555		12 reasonable fee not to exceed its actual cost incurred. A
2522	2556		13 bank providing information in accordance with this item
2523	2557		14 shall not be liable to any account holder or other person
2524	2558		15 for any disclosure of information to a State agency, for
2525	2559		16 encumbering or surrendering any assets held by the bank in
2526	2560		17 response to a lien or order to withhold and deliver issued
2527	2561		18 by a State agency, or for any other action taken pursuant
2528	2562		19 to this item, including individual or mechanical errors,
2529	2563		20 provided the action does not constitute gross negligence
2530	2564		21 or willful misconduct. A bank shall have no obligation to
2531	2565		22 hold, encumber, or surrender assets until it has been
2532	2566		23 served with a subpoena, summons, warrant, court or
2533	2567		24 administrative order, lien, or levy.
2534	2568		25 (15) The exchange in the regular course of business of
2535	2569		26 information between a bank and any commonly owned
2536	2570
2537	2571
2538	2572
2539	2573
2540	2574
2541		-	HB3467 ~~Engrossed~~ - 71 - LRB104 10334 BAB 20408 b
2542		-
2543		-
2544		-	HB3467 ~~Engrossed~~- 72 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 72 - LRB104 10334 BAB 20408 b
2545		-	HB3467 ~~Engrossed~~ - 72 - LRB104 10334 BAB 20408 b
	2575	+	HB3467 - 71 - LRB104 10334 BAB 20408 b
	2576	+
	2577	+
	2578	+	HB3467- 72 -LRB104 10334 BAB 20408 b HB3467 - 72 - LRB104 10334 BAB 20408 b
	2579	+	HB3467 - 72 - LRB104 10334 BAB 20408 b
2546	2580		1 affiliate of the bank, subject to the provisions of the
2547	2581		2 Financial Institutions Insurance Sales Law.
2548	2582		3 (16) The furnishing of information to law enforcement
2549	2583		4 authorities, the Illinois Department on Aging and its
2550	2584		5 regional administrative and provider agencies, the
2551	2585		6 Department of Human Services Office of Inspector General,
2552	2586		7 or public guardians: (i) upon subpoena by the
2553	2587		8 investigatory entity or the guardian, or (ii) if there is
2554	2588		9 suspicion by the bank that a customer who is an elderly
2555	2589		10 person or person with a disability has been or may become
2556	2590		11 the victim of financial exploitation. For the purposes of
2557	2591		12 this item (16), the term: (i) "elderly person" means a
2558	2592		13 person who is 60 or more years of age, (ii) "disabled
2559	2593		14 person with a disability" means a person who has or
2560	2594		15 reasonably appears to the bank to have a physical or
2561	2595		16 mental disability that impairs his or her ability to seek
2562	2596		17 or obtain protection from or prevent financial
2563	2597		18 exploitation, and (iii) "financial exploitation" means
2564	2598		19 tortious or illegal use of the assets or resources of an
2565	2599		20 elderly or disabled person or person with a disability,
2566	2600		21 and includes, without limitation, misappropriation of the
2567	2601		22 elderly or disabled person's assets or resources of the
2568	2602		23 elderly person or person with a disability by undue
2569	2603		24 influence, breach of fiduciary relationship, intimidation,
2570	2604		25 fraud, deception, extortion, or the use of assets or
2571	2605		26 resources in any manner contrary to law. A bank or person
2572	2606
2573	2607
2574	2608
2575	2609
2576	2610
2577		-	HB3467 ~~Engrossed~~ - 72 - LRB104 10334 BAB 20408 b
2578		-
2579		-
2580		-	HB3467 ~~Engrossed~~- 73 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 73 - LRB104 10334 BAB 20408 b
2581		-	HB3467 ~~Engrossed~~ - 73 - LRB104 10334 BAB 20408 b
	2611	+	HB3467 - 72 - LRB104 10334 BAB 20408 b
	2612	+
	2613	+
	2614	+	HB3467- 73 -LRB104 10334 BAB 20408 b HB3467 - 73 - LRB104 10334 BAB 20408 b
	2615	+	HB3467 - 73 - LRB104 10334 BAB 20408 b
2582	2616		1 furnishing information pursuant to this item (16) shall be
2583	2617		2 entitled to the same rights and protections as a person
2584	2618		3 furnishing information under the Adult Protective Services
2585	2619		4 Act and the Illinois Domestic Violence Act of 1986.
2586	2620		5 (17) The disclosure of financial records or
2587	2621		6 information as necessary to effect, administer, or enforce
2588	2622		7 a transaction requested or authorized by the customer, or
2589	2623		8 in connection with:
2590	2624		9 (A) servicing or processing a financial product or
2591	2625		10 service requested or authorized by the customer;
2592	2626		11 (B) maintaining or servicing a customer's account
2593	2627		12 with the bank; or
2594	2628		13 (C) a proposed or actual securitization or
2595	2629		14 secondary market sale (including sales of servicing
2596	2630		15 rights) related to a transaction of a customer.
2597	2631		16 Nothing in this item (17), however, authorizes the
2598	2632		17 sale of the financial records or information of a customer
2599	2633		18 without the consent of the customer.
2600	2634		19 (18) The disclosure of financial records or
2601	2635		20 information as necessary to protect against actual or
2602	2636		21 potential fraud, unauthorized transactions, claims, or
2603	2637		22 other liability.
2604	2638		23 (19)(A) The disclosure of financial records or
2605	2639		24 information related to a private label credit program
2606	2640		25 between a financial institution and a private label party
2607	2641		26 in connection with that private label credit program. Such
2608	2642
2609	2643
2610	2644
2611	2645
2612	2646
2613		-	HB3467 ~~Engrossed~~ - 73 - LRB104 10334 BAB 20408 b
2614		-
2615		-
2616		-	HB3467 ~~Engrossed~~- 74 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 74 - LRB104 10334 BAB 20408 b
2617		-	HB3467 ~~Engrossed~~ - 74 - LRB104 10334 BAB 20408 b
	2647	+	HB3467 - 73 - LRB104 10334 BAB 20408 b
	2648	+
	2649	+
	2650	+	HB3467- 74 -LRB104 10334 BAB 20408 b HB3467 - 74 - LRB104 10334 BAB 20408 b
	2651	+	HB3467 - 74 - LRB104 10334 BAB 20408 b
2618	2652		1 information is limited to outstanding balance, available
2619	2653		2 credit, payment and performance and account history,
2620	2654		3 product references, purchase information, and information
2621	2655		4 related to the identity of the customer.
2622	2656		5 (B)(1) For purposes of this paragraph (19) of
2623	2657		6 subsection (b) of Section 48.1, a "private label credit
2624	2658		7 program" means a credit program involving a financial
2625	2659		8 institution and a private label party that is used by a
2626	2660		9 customer of the financial institution and the private
2627	2661		10 label party primarily for payment for goods or services
2628	2662		11 sold, manufactured, or distributed by a private label
2629	2663		12 party.
2630	2664		13 (2) For purposes of this paragraph (19) of subsection
2631	2665		14 (b) of Section 48.1, a "private label party" means, with
2632	2666		15 respect to a private label credit program, any of the
2633	2667		16 following: a retailer, a merchant, a manufacturer, a trade
2634	2668		17 group, or any such person's affiliate, subsidiary, member,
2635	2669		18 agent, or service provider.
2636	2670		19 (20)(A) The furnishing of financial records of a
2637	2671		20 customer to the Department to aid the Department's initial
2638	2672		21 determination or subsequent re-determination of the
2639	2673		22 customer's eligibility for Medicaid and Medicaid long-term
2640	2674		23 care benefits for long-term care services, provided that
2641	2675		24 the bank receives the written consent and authorization of
2642	2676		25 the customer, which shall:
2643	2677		26 (1) have the customer's signature notarized;
2644	2678
2645	2679
2646	2680
2647	2681
2648	2682
2649		-	HB3467 ~~Engrossed~~ - 74 - LRB104 10334 BAB 20408 b
2650		-
2651		-
2652		-	HB3467 ~~Engrossed~~- 75 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 75 - LRB104 10334 BAB 20408 b
2653		-	HB3467 ~~Engrossed~~ - 75 - LRB104 10334 BAB 20408 b
	2683	+	HB3467 - 74 - LRB104 10334 BAB 20408 b
	2684	+
	2685	+
	2686	+	HB3467- 75 -LRB104 10334 BAB 20408 b HB3467 - 75 - LRB104 10334 BAB 20408 b
	2687	+	HB3467 - 75 - LRB104 10334 BAB 20408 b
2654	2688		1 (2) be signed by at least one witness who
2655	2689		2 certifies that he or she believes the customer to be of
2656	2690		3 sound mind and memory;
2657	2691		4 (3) be tendered to the bank at the earliest
2658	2692		5 practicable time following its execution,
2659	2693		6 certification, and notarization;
2660	2694		7 (4) specifically limit the disclosure of the
2661	2695		8 customer's financial records to the Department; and
2662	2696		9 (5) be in substantially the following form:
2663	2697		10 CUSTOMER CONSENT AND AUTHORIZATION
2664	2698		11 FOR RELEASE OF FINANCIAL RECORDS
2665	2699		12 I, ......................................., hereby authorize
2666	2700		13 (Name of Customer)
2667	2701		14 .............................................................
2668	2702		15 (Name of Financial Institution)
2669	2703		16 .............................................................
2670	2704		17 (Address of Financial Institution)
2671	2705		18 to disclose the following financial records:
2672	2706		19 any and all information concerning my deposit, savings, money
2673	2707		20 market, certificate of deposit, individual retirement,
2674	2708
2675	2709
2676	2710
2677	2711
2678	2712
2679		-	HB3467 ~~Engrossed~~ - 75 - LRB104 10334 BAB 20408 b
2680		-
2681		-
2682		-	HB3467 ~~Engrossed~~- 76 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 76 - LRB104 10334 BAB 20408 b
2683		-	HB3467 ~~Engrossed~~ - 76 - LRB104 10334 BAB 20408 b
	2713	+	HB3467 - 75 - LRB104 10334 BAB 20408 b
	2714	+
	2715	+
	2716	+	HB3467- 76 -LRB104 10334 BAB 20408 b HB3467 - 76 - LRB104 10334 BAB 20408 b
	2717	+	HB3467 - 76 - LRB104 10334 BAB 20408 b
2684	2718		1 retirement plan, 401(k) plan, incentive plan, employee benefit
2685	2719		2 plan, mutual fund and loan accounts (including, but not
2686	2720		3 limited to, any indebtedness or obligation for which I am a
2687	2721		4 co-borrower, co-obligor, guarantor, or surety), and any and
2688	2722		5 all other accounts in which I have an interest and any other
2689	2723		6 information regarding me in the possession of the Financial
2690	2724		7 Institution,
2691	2725		8 to the Illinois Department of Human Services or the Illinois
2692	2726		9 Department of Healthcare and Family Services, or both ("the
2693	2727		10 Department"), for the following purpose(s):
2694	2728		11 to aid in the initial determination or re-determination by the
2695	2729		12 State of Illinois of my eligibility for Medicaid long-term
2696	2730		13 care benefits, pursuant to applicable law.
2697	2731		14 I understand that this Consent and Authorization may be
2698	2732		15 revoked by me in writing at any time before my financial
2699	2733		16 records, as described above, are disclosed, and that this
2700	2734		17 Consent and Authorization is valid until the Financial
2701	2735		18 Institution receives my written revocation. This Consent and
2702	2736		19 Authorization shall constitute valid authorization for the
2703	2737		20 Department identified above to inspect all such financial
2704	2738		21 records set forth above, and to request and receive copies of
2705	2739		22 such financial records from the Financial Institution (subject
2706	2740		23 to such records search and reproduction reimbursement policies
2707	2741
2708	2742
2709	2743
2710	2744
2711	2745
2712		-	HB3467 ~~Engrossed~~ - 76 - LRB104 10334 BAB 20408 b
2713		-
2714		-
2715		-	HB3467 ~~Engrossed~~- 77 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 77 - LRB104 10334 BAB 20408 b
2716		-	HB3467 ~~Engrossed~~ - 77 - LRB104 10334 BAB 20408 b
	2746	+	HB3467 - 76 - LRB104 10334 BAB 20408 b
	2747	+
	2748	+
	2749	+	HB3467- 77 -LRB104 10334 BAB 20408 b HB3467 - 77 - LRB104 10334 BAB 20408 b
	2750	+	HB3467 - 77 - LRB104 10334 BAB 20408 b
2717	2751		1 as the Financial Institution may have in place). An executed
2718	2752		2 copy of this Consent and Authorization shall be sufficient and
2719	2753		3 as good as the original and permission is hereby granted to
2720	2754		4 honor a photostatic or electronic copy of this Consent and
2721	2755		5 Authorization. Disclosure is strictly limited to the
2722	2756		6 Department identified above and no other person or entity
2723	2757		7 shall receive my financial records pursuant to this Consent
2724	2758		8 and Authorization. By signing this form, I agree to indemnify
2725	2759		9 and hold the Financial Institution harmless from any and all
2726	2760		10 claims, demands, and losses, including reasonable attorneys
2727	2761		11 fees and expenses, arising from or incurred in its reliance on
2728	2762		12 this Consent and Authorization. As used herein, "Customer"
2729	2763		13 shall mean "Member" if the Financial Institution is a credit
2730	2764		14 union.
2731	2765		15 ....................... ......................
2732	2766		16 (Date) (Signature of Customer)
2733	2767		17 ......................
2734	2768		18 ......................
2735	2769		19 (Address of Customer)
2736	2770		20 ......................
2737	2771		21 (Customer's birth date)
2738	2772		22 (month/day/year)
2739	2773
2740	2774
2741	2775
2742	2776
2743	2777
2744		-	HB3467 ~~Engrossed~~ - 77 - LRB104 10334 BAB 20408 b
2745		-
2746		-
2747		-	HB3467 ~~Engrossed~~- 78 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 78 - LRB104 10334 BAB 20408 b
2748		-	HB3467 ~~Engrossed~~ - 78 - LRB104 10334 BAB 20408 b
	2778	+	HB3467 - 77 - LRB104 10334 BAB 20408 b
	2779	+
	2780	+
	2781	+	HB3467- 78 -LRB104 10334 BAB 20408 b HB3467 - 78 - LRB104 10334 BAB 20408 b
	2782	+	HB3467 - 78 - LRB104 10334 BAB 20408 b
2749	2783		1 The undersigned witness certifies that .................,
2750	2784		2 known to me to be the same person whose name is subscribed as
2751	2785		3 the customer to the foregoing Consent and Authorization,
2752	2786		4 appeared before me and the notary public and acknowledged
2753	2787		5 signing and delivering the instrument as his or her free and
2754	2788		6 voluntary act for the uses and purposes therein set forth. I
2755	2789		7 believe him or her to be of sound mind and memory. The
2756	2790		8 undersigned witness also certifies that the witness is not an
2757	2791		9 owner, operator, or relative of an owner or operator of a
2758	2792		10 long-term care facility in which the customer is a patient or
2759	2793		11 resident.
2760	2794		12 Dated: ................. ......................
2761	2795		13 (Signature of Witness)
2762	2796		14 ......................
2763	2797		15 (Print Name of Witness)
2764	2798		16 ......................
2765	2799		17 ......................
2766	2800		18 (Address of Witness)
2767	2801		19 State of Illinois)
2768	2802		20 ) ss.
2769	2803		21 County of .......)
2770	2804
2771	2805
2772	2806
2773	2807
2774	2808
2775		-	HB3467 ~~Engrossed~~ - 78 - LRB104 10334 BAB 20408 b
2776		-
2777		-
2778		-	HB3467 ~~Engrossed~~- 79 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 79 - LRB104 10334 BAB 20408 b
2779		-	HB3467 ~~Engrossed~~ - 79 - LRB104 10334 BAB 20408 b
	2809	+	HB3467 - 78 - LRB104 10334 BAB 20408 b
	2810	+
	2811	+
	2812	+	HB3467- 79 -LRB104 10334 BAB 20408 b HB3467 - 79 - LRB104 10334 BAB 20408 b
	2813	+	HB3467 - 79 - LRB104 10334 BAB 20408 b
2780	2814		1 The undersigned, a notary public in and for the above county
2781	2815		2 and state, certifies that .........., known to me to be the
2782	2816		3 same person whose name is subscribed as the customer to the
2783	2817		4 foregoing Consent and Authorization, appeared before me
2784	2818		5 together with the witness, .........., in person and
2785	2819		6 acknowledged signing and delivering the instrument as the free
2786	2820		7 and voluntary act of the customer for the uses and purposes
2787	2821		8 therein set forth.
2788	2822		9 Dated:.......................................................
2789	2823		10 Notary Public:...............................................
2790	2824		11 My commission expires:.......................................
2791	2825		12 (B) In no event shall the bank distribute the
2792	2826		13 customer's financial records to the long-term care
2793	2827		14 facility from which the customer seeks initial or
2794	2828		15 continuing residency or long-term care services.
2795	2829		16 (C) A bank providing financial records of a customer
2796	2830		17 in good faith relying on a consent and authorization
2797	2831		18 executed and tendered in accordance with this paragraph
2798	2832		19 (20) shall not be liable to the customer or any other
2799	2833		20 person in relation to the bank's disclosure of the
2800	2834		21 customer's financial records to the Department. The
2801	2835		22 customer signing the consent and authorization shall
2802	2836		23 indemnify and hold the bank harmless that relies in good
2803	2837		24 faith upon the consent and authorization and incurs a loss
2804	2838
2805	2839
2806	2840
2807	2841
2808	2842
2809		-	HB3467 ~~Engrossed~~ - 79 - LRB104 10334 BAB 20408 b
2810		-
2811		-
2812		-	HB3467 ~~Engrossed~~- 80 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 80 - LRB104 10334 BAB 20408 b
2813		-	HB3467 ~~Engrossed~~ - 80 - LRB104 10334 BAB 20408 b
	2843	+	HB3467 - 79 - LRB104 10334 BAB 20408 b
	2844	+
	2845	+
	2846	+	HB3467- 80 -LRB104 10334 BAB 20408 b HB3467 - 80 - LRB104 10334 BAB 20408 b
	2847	+	HB3467 - 80 - LRB104 10334 BAB 20408 b
2814	2848		1 because of such reliance. The bank recovering under this
2815	2849		2 indemnification provision shall also be entitled to
2816	2850		3 reasonable attorney's fees and the expenses of recovery.
2817	2851		4 (D) A bank shall be reimbursed by the customer for all
2818	2852		5 costs reasonably necessary and directly incurred in
2819	2853		6 searching for, reproducing, and disclosing a customer's
2820	2854		7 financial records required or requested to be produced
2821	2855		8 pursuant to any consent and authorization executed under
2822	2856		9 this paragraph (20). The requested financial records shall
2823	2857		10 be delivered to the Department within 10 days after
2824	2858		11 receiving a properly executed consent and authorization or
2825	2859		12 at the earliest practicable time thereafter if the
2826	2860		13 requested records cannot be delivered within 10 days, but
2827	2861		14 delivery may be delayed until the final reimbursement of
2828	2862		15 all costs is received by the bank. The bank may honor a
2829	2863		16 photostatic or electronic copy of a properly executed
2830	2864		17 consent and authorization.
2831	2865		18 (E) Nothing in this paragraph (20) shall impair,
2832	2866		19 abridge, or abrogate the right of a customer to:
2833	2867		20 (1) directly disclose his or her financial records
2834	2868		21 to the Department or any other person; or
2835	2869		22 (2) authorize his or her attorney or duly
2836	2870		23 appointed agent to request and obtain the customer's
2837	2871		24 financial records and disclose those financial records
2838	2872		25 to the Department.
2839	2873		26 (F) For purposes of this paragraph (20), "Department"
2840	2874
2841	2875
2842	2876
2843	2877
2844	2878
2845		-	HB3467 ~~Engrossed~~ - 80 - LRB104 10334 BAB 20408 b
2846		-
2847		-
2848		-	HB3467 ~~Engrossed~~- 81 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 81 - LRB104 10334 BAB 20408 b
2849		-	HB3467 ~~Engrossed~~ - 81 - LRB104 10334 BAB 20408 b
	2879	+	HB3467 - 80 - LRB104 10334 BAB 20408 b
	2880	+
	2881	+
	2882	+	HB3467- 81 -LRB104 10334 BAB 20408 b HB3467 - 81 - LRB104 10334 BAB 20408 b
	2883	+	HB3467 - 81 - LRB104 10334 BAB 20408 b
2850	2884		1 means the Department of Human Services and the Department
2851	2885		2 of Healthcare and Family Services or any successor
2852	2886		3 administrative agency of either agency.
2853	2887		4 (21) The furnishing of financial records of a deceased
2854	2888		5 customer to a public administrator of any county or other
2855	2889		6 governmental jurisdiction for the purpose of facilitating
2856	2890		7 burial of the customer.
2857	2891		8 (c) Except as otherwise provided by this Act, a bank may
2858	2892		9 not disclose to any person, except to the customer or his duly
2859	2893		10 authorized agent, any financial records or financial
2860	2894		11 information obtained from financial records relating to that
2861	2895		12 customer of that bank unless:
2862	2896		13 (1) the customer has authorized disclosure to the
2863	2897		14 person;
2864	2898		15 (2) the financial records are disclosed in response to
2865	2899		16 a lawful subpoena, summons, warrant, citation to discover
2866	2900		17 assets, or court order which meets the requirements of
2867	2901		18 subsection (d) of this Section; or
2868	2902		19 (3) the bank is attempting to collect an obligation
2869	2903		20 owed to the bank and the bank complies with the provisions
2870	2904		21 of Section 2I of the Consumer Fraud and Deceptive Business
2871	2905		22 Practices Act.
2872	2906		23 (d) A bank shall disclose financial records under
2873	2907		24 paragraph (2) of subsection (c) of this Section under a lawful
2874	2908		25 subpoena, summons, warrant, citation to discover assets, or
2875	2909		26 court order only after the bank sends a copy of the subpoena,
2876	2910
2877	2911
2878	2912
2879	2913
2880	2914
2881		-	HB3467 ~~Engrossed~~ - 81 - LRB104 10334 BAB 20408 b
2882		-
2883		-
2884		-	HB3467 ~~Engrossed~~- 82 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 82 - LRB104 10334 BAB 20408 b
2885		-	HB3467 ~~Engrossed~~ - 82 - LRB104 10334 BAB 20408 b
	2915	+	HB3467 - 81 - LRB104 10334 BAB 20408 b
	2916	+
	2917	+
	2918	+	HB3467- 82 -LRB104 10334 BAB 20408 b HB3467 - 82 - LRB104 10334 BAB 20408 b
	2919	+	HB3467 - 82 - LRB104 10334 BAB 20408 b
2886	2920		1 summons, warrant, citation to discover assets, or court order
2887	2921		2 to the person establishing the relationship with the bank, if
2888	2922		3 living, and, otherwise the person's personal representative,
2889	2923		4 if known, at the person's last known address by first class
2890	2924		5 mail, postage prepaid, through a third-party commercial
2891	2925		6 carrier or courier with delivery charge fully prepaid, by hand
2892	2926		7 delivery, or by electronic delivery at an email address on
2893	2927		8 file with the bank (if the person establishing the
2894	2928		9 relationship with the bank has consented to receive electronic
2895	2929		10 delivery and, if the person establishing the relationship with
2896	2930		11 the bank is a consumer, the person has consented under the
2897	2931		12 consumer consent provisions set forth in Section 7001 of Title
2898	2932		13 15 of the United States Code), unless the bank is specifically
2899	2933		14 prohibited from notifying the person by order of court or by
2900	2934		15 applicable State or federal law. A bank shall not mail a copy
2901	2935		16 of a subpoena to any person pursuant to this subsection if the
2902	2936		17 subpoena was issued by a grand jury under the Statewide Grand
2903	2937		18 Jury Act.
2904	2938		19 (e) Any officer or employee of a bank who knowingly and
2905	2939		20 willfully furnishes financial records in violation of this
2906	2940		21 Section is guilty of a business offense and, upon conviction,
2907	2941		22 shall be fined not more than $1,000.
2908	2942		23 (f) Any person who knowingly and willfully induces or
2909	2943		24 attempts to induce any officer or employee of a bank to
2910	2944		25 disclose financial records in violation of this Section is
2911	2945		26 guilty of a business offense and, upon conviction, shall be
2912	2946
2913	2947
2914	2948
2915	2949
2916	2950
2917		-	HB3467 ~~Engrossed~~ - 82 - LRB104 10334 BAB 20408 b
2918		-
2919		-
2920		-	HB3467 ~~Engrossed~~- 83 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 83 - LRB104 10334 BAB 20408 b
2921		-	HB3467 ~~Engrossed~~ - 83 - LRB104 10334 BAB 20408 b
	2951	+	HB3467 - 82 - LRB104 10334 BAB 20408 b
	2952	+
	2953	+
	2954	+	HB3467- 83 -LRB104 10334 BAB 20408 b HB3467 - 83 - LRB104 10334 BAB 20408 b
	2955	+	HB3467 - 83 - LRB104 10334 BAB 20408 b
2922	2956		1 fined not more than $1,000.
2923	2957		2 (g) A bank shall be reimbursed for costs that are
2924	2958		3 reasonably necessary and that have been directly incurred in
2925	2959		4 searching for, reproducing, or transporting books, papers,
2926	2960		5 records, or other data required or requested to be produced
2927	2961		6 pursuant to a lawful subpoena, summons, warrant, citation to
2928	2962		7 discover assets, or court order. The Commissioner shall
2929	2963		8 determine the rates and conditions under which payment may be
2930	2964		9 made.
2931	2965		10 (Source: P.A. 101-81, eff. 7-12-19; 102-873, eff. 5-13-22.)
2932	2966		11 (205 ILCS 5/48.2) (from Ch. 17, par. 360.1)
2933	2967		12 Sec. 48.2. Prohibition against certain activities.
2934	2968		13 (a) Any bank, subsidiary, affiliate, officer or employee
2935	2969		14 of such bank subject to this Act shall not:
2936	2970		15 (1) grant any loan on the prior condition, agreement
2937	2971		16 or understanding that the borrower contract with any
2938	2972		17 specific person or organization for the following:
2939	2973		18 (A) insurance services of an agent or broker;
2940	2974		19 (B) legal services rendered to the borrower;
2941	2975		20 (C) services of a real estate agent or broker; or
2942	2976		21 (D) real estate or property management services;
2943	2977		22 (2) require that insurance services, legal services,
2944	2978		23 real estate services or property management services be
2945	2979		24 placed with any subsidiary, affiliate, officer or employee
2946	2980		25 of any bank.
2947	2981
2948	2982
2949	2983
2950	2984
2951	2985
2952		-	HB3467 ~~Engrossed~~ - 83 - LRB104 10334 BAB 20408 b
2953		-
2954		-
2955		-	HB3467 ~~Engrossed~~- 84 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 84 - LRB104 10334 BAB 20408 b
2956		-	HB3467 ~~Engrossed~~ - 84 - LRB104 10334 BAB 20408 b
	2986	+	HB3467 - 83 - LRB104 10334 BAB 20408 b
	2987	+
	2988	+
	2989	+	HB3467- 84 -LRB104 10334 BAB 20408 b HB3467 - 84 - LRB104 10334 BAB 20408 b
	2990	+	HB3467 - 84 - LRB104 10334 BAB 20408 b
2957	2991		1 (b) Any bank or subsidiary, affiliate, employee, officer,
2958	2992		2 banking house, branch bank, branch office, additional office
2959	2993		3 or agency of such bank that is transacting an insurance
2960	2994		4 business in this State shall comply with Article XLIV of the
2961	2995		5 Illinois Insurance Code.
2962	2996		6 (c) Any officer or employee of a bank or its affiliates or
2963	2997		7 subsidiaries who violates this Section is guilty of a business
2964	2998		8 offense, and upon conviction shall be fined not more than
2965	2999		9 $1,000. This Section does not create a private cause of action
2966	3000		10 for civil damages.
2967	3001		11 (d) In any contract or loan which is secured by a mortgage,
2968	3002		12 deed of trust, or conveyance in the nature of a mortgage, on
2969	3003		13 residential real estate, the interest which is computed,
2970	3004		14 calculated, charged, or collected pursuant to such contract or
2971	3005		15 loan, or pursuant to any regulation or rule promulgated
2972	3006		16 pursuant to this Act, may not be computed, calculated, charged
2973	3007		17 or collected for any period of time occurring after the date on
2974	3008		18 which the total indebtedness, with the exception of late
2975	3009		19 payment penalties, is paid in full. For purposes of this
2976	3010		20 subsection (d) of this Section 48.2, a prepayment shall mean
2977	3011		21 the payment of the total indebtedness, with the exception of
2978	3012		22 late payment penalties if incurred or charged, on any date
2979	3013		23 before the date specified in the contract or loan agreement on
2980	3014		24 which the total indebtedness shall be paid in full, or before
2981	3015		25 the date on which all payments, if timely made, shall have been
2982	3016		26 made. In the event of a prepayment of the indebtedness which is
2983	3017
2984	3018
2985	3019
2986	3020
2987	3021
2988		-	HB3467 ~~Engrossed~~ - 84 - LRB104 10334 BAB 20408 b
2989		-
2990		-
2991		-	HB3467 ~~Engrossed~~- 85 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 85 - LRB104 10334 BAB 20408 b
2992		-	HB3467 ~~Engrossed~~ - 85 - LRB104 10334 BAB 20408 b
	3022	+	HB3467 - 84 - LRB104 10334 BAB 20408 b
	3023	+
	3024	+
	3025	+	HB3467- 85 -LRB104 10334 BAB 20408 b HB3467 - 85 - LRB104 10334 BAB 20408 b
	3026	+	HB3467 - 85 - LRB104 10334 BAB 20408 b
2993	3027		1 made on a date after the date on which interest on the
2994	3028		2 indebtedness was last computed, calculated, charged, or
2995	3029		3 collected but before the next date on which interest on the
2996	3030		4 indebtedness was to be calculated, computed, charged, or
2997	3031		5 collected, the lender may calculate, charge and collect
2998	3032		6 interest on the indebtedness for the period which elapsed
2999	3033		7 between the date on which the prepayment is made and the date
3000	3034		8 on which interest on the indebtedness was last computed,
3001	3035		9 calculated, charged or collected at a rate equal to 1/360 of
3002	3036		10 the annual rate for each day which so elapsed, which rate shall
3003	3037		11 be applied to the indebtedness outstanding as of the date of
3004	3038		12 prepayment. The lender shall refund to the borrower any
3005	3039		13 interest charged or collected which exceeds that which the
3006	3040		14 lender may charge or collect pursuant to the preceding
3007	3041		15 sentence. The provisions of this amendatory Act of 1985 shall
3008	3042		16 apply only to contracts or loans entered into on or after
3009	3043		17 January 1, 1986.
3010	3044		18 (e) Any bank, affiliate or subsidiary of such bank which
3011	3045		19 shall engage in making residential mortgage financing
3012	3046		20 transactions, shall with respect to each such transaction,
3013	3047		21 provide the following:
3014	3048		22 (1) if a contractual obligation is intended to a
3015	3049		23 borrower, a mortgage commitment which shall set forth the
3016	3050		24 material terms, conditions and contingencies of such
3017	3051		25 commitment;
3018	3052		26 (2) if the servicing of a residential mortgage shall
3019	3053
3020	3054
3021	3055
3022	3056
3023	3057
3024		-	HB3467 ~~Engrossed~~ - 85 - LRB104 10334 BAB 20408 b
3025		-
3026		-
3027		-	HB3467 ~~Engrossed~~- 86 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 86 - LRB104 10334 BAB 20408 b
3028		-	HB3467 ~~Engrossed~~ - 86 - LRB104 10334 BAB 20408 b
	3058	+	HB3467 - 85 - LRB104 10334 BAB 20408 b
	3059	+
	3060	+
	3061	+	HB3467- 86 -LRB104 10334 BAB 20408 b HB3467 - 86 - LRB104 10334 BAB 20408 b
	3062	+	HB3467 - 86 - LRB104 10334 BAB 20408 b
3029	3063		1 be transferred from the original mortgagee, within 45 days
3030	3064		2 of such transfer, written notice sent by first-class
3031	3065		3 certified mail, return receipt requested, to the mortgagor
3032	3066		4 at the address of the property, unless the mortgagor shall
3033	3067		5 have directed correspondence from the mortgagee shall be
3034	3068		6 sent to another address, which notice shall set forth: the
3035	3069		7 name and address of the transferee; the name, address and
3036	3070		8 telephone number to which inquiries by the residential
3037	3071		9 mortgagor should be addressed; and the name and address to
3038	3072		10 which the next 3 monthly installments are to be submitted
3039	3073		11 to the transferee and the amount of each of such monthly
3040	3074		12 installment; and
3041	3075		13 (3) if the servicing of a residential mortgage shall
3042	3076		14 be transferred again or if the information in paragraph
3043	3077		15 (2) above shall change, the notice with the corrected
3044	3078		16 information shall be provided within 45 days of such
3045	3079		17 subsequent transfer or change in information by the
3046	3080		18 transferee of the servicing of the mortgage at that time.
3047	3081		19 (Source: P.A. 90-41, eff. 10-1-97.)
3048	3082		20 Section 10. The Savings Bank Act is amended by changing
3049	3083		21 Sections 1008, 4002, 4003, 4013, 6002, 7005, 8002, and 11008
3050	3084		22 as follows:
3051	3085		23 (205 ILCS 205/1008) (from Ch. 17, par. 7301-8)
3052	3086		24 Sec. 1008. General corporate powers.
3053	3087
3054	3088
3055	3089
3056	3090
3057	3091
3058		-	HB3467 ~~Engrossed~~ - 86 - LRB104 10334 BAB 20408 b
3059		-
3060		-
3061		-	HB3467 ~~Engrossed~~- 87 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 87 - LRB104 10334 BAB 20408 b
3062		-	HB3467 ~~Engrossed~~ - 87 - LRB104 10334 BAB 20408 b
	3092	+	HB3467 - 86 - LRB104 10334 BAB 20408 b
	3093	+
	3094	+
	3095	+	HB3467- 87 -LRB104 10334 BAB 20408 b HB3467 - 87 - LRB104 10334 BAB 20408 b
	3096	+	HB3467 - 87 - LRB104 10334 BAB 20408 b
3063	3097		1 (a) A savings bank operating under this Act shall be a body
3064	3098		2 corporate and politic and shall have all of the powers
3065	3099		3 conferred by this Act including, but not limited to, the
3066	3100		4 following powers:
3067	3101		5 (1) To sue and be sued, complain, and defend in its
3068	3102		6 corporate name and to have a common seal, which it may
3069	3103		7 alter or renew at pleasure.
3070	3104		8 (2) To obtain and maintain insurance by a deposit
3071	3105		9 insurance corporation as defined in this Act.
3072	3106		10 (3) To act as a fiscal agent for the United States, the
3073	3107		11 State of Illinois or any department, branch, arm, or
3074	3108		12 agency of the State or any unit of local government or
3075	3109		13 school district in the State, when duly designated for
3076	3110		14 that purpose, and as agent to perform reasonable functions
3077	3111		15 as may be required of it.
3078	3112		16 (4) To become a member of or deal with any corporation
3079	3113		17 or agency of the United States or the State of Illinois, to
3080	3114		18 the extent that the agency assists in furthering or
3081	3115		19 facilitating its purposes or powers and to that end to
3082	3116		20 purchase stock or securities thereof or deposit money
3083	3117		21 therewith, and to comply with any other conditions of
3084	3118		22 membership or credit.
3085	3119		23 (5) To make donations in reasonable amounts for the
3086	3120		24 public welfare or for charitable, scientific, religious,
3087	3121		25 or educational purposes.
3088	3122		26 (6) To adopt and operate reasonable insurance, bonus,
3089	3123
3090	3124
3091	3125
3092	3126
3093	3127
3094		-	HB3467 ~~Engrossed~~ - 87 - LRB104 10334 BAB 20408 b
3095		-
3096		-
3097		-	HB3467 ~~Engrossed~~- 88 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 88 - LRB104 10334 BAB 20408 b
3098		-	HB3467 ~~Engrossed~~ - 88 - LRB104 10334 BAB 20408 b
	3128	+	HB3467 - 87 - LRB104 10334 BAB 20408 b
	3129	+
	3130	+
	3131	+	HB3467- 88 -LRB104 10334 BAB 20408 b HB3467 - 88 - LRB104 10334 BAB 20408 b
	3132	+	HB3467 - 88 - LRB104 10334 BAB 20408 b
3099	3133		1 profit sharing, and retirement plans for officers and
3100	3134		2 employees and for directors including, but not limited to,
3101	3135		3 advisory, honorary, and emeritus directors, who are not
3102	3136		4 officers or employees.
3103	3137		5 (7) To reject any application for membership; to
3104	3138		6 retire deposit accounts by enforced retirement as provided
3105	3139		7 in this Act and the bylaws; and to limit the issuance of,
3106	3140		8 or payments on, deposit accounts, subject, however, to
3107	3141		9 contractual obligations.
3108	3142		10 (8) To purchase stock or membership interests in
3109	3143		11 service corporations and to invest in any form of
3110	3144		12 indebtedness of any service corporation as defined in this
3111	3145		13 Act, subject to regulations of the Secretary.
3112	3146		14 (9) To purchase stock of a corporation whose principal
3113	3147		15 purpose is to operate a safe deposit company or escrow
3114	3148		16 service company.
3115	3149		17 (10) To exercise all the powers necessary to qualify
3116	3150		18 as a trustee or custodian under federal or State law,
3117	3151		19 provided that the authority to accept and execute trusts
3118	3152		20 is subject to the provisions of the Corporate Fiduciary
3119	3153		21 Act and to the supervision of those activities by the
3120	3154		22 Secretary.
3121	3155		23 (11) (Blank).
3122	3156		24 (12) To establish, maintain, and operate terminals as
3123	3157		25 authorized by the Electronic Fund Transfer Act.
3124	3158		26 (13) To borrow or incur an obligation; and to pledge
3125	3159
3126	3160
3127	3161
3128	3162
3129	3163
3130		-	HB3467 ~~Engrossed~~ - 88 - LRB104 10334 BAB 20408 b
3131		-
3132		-
3133		-	HB3467 ~~Engrossed~~- 89 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 89 - LRB104 10334 BAB 20408 b
3134		-	HB3467 ~~Engrossed~~ - 89 - LRB104 10334 BAB 20408 b
	3164	+	HB3467 - 88 - LRB104 10334 BAB 20408 b
	3165	+
	3166	+
	3167	+	HB3467- 89 -LRB104 10334 BAB 20408 b HB3467 - 89 - LRB104 10334 BAB 20408 b
	3168	+	HB3467 - 89 - LRB104 10334 BAB 20408 b
3135	3169		1 its assets:
3136	3170		2 (A) to enable it to act as agent for the sale of
3137	3171		3 obligations of the United States;
3138	3172		4 (B) to secure deposits;
3139	3173		5 (C) to secure deposits of money whenever required
3140	3174		6 by the National Bankruptcy Act;
3141	3175		7 (D) (blank); and
3142	3176		8 (E) to secure trust funds commingled with the
3143	3177		9 savings bank's funds, whether deposited by the savings
3144	3178		10 bank or an affiliate of the savings bank, as required
3145	3179		11 under Section 2-8 of the Corporate Fiduciary Act.
3146	3180		12 (14) To accept for payment at a future date not to
3147	3181		13 exceed one year from the date of acceptance, drafts drawn
3148	3182		14 upon it by its customers; and to issue, advise, or confirm
3149	3183		15 letters of credit authorizing holders thereof to draw
3150	3184		16 drafts upon it or its correspondents.
3151	3185		17 (15) Subject to the regulations of the Secretary, to
3152	3186		18 own and lease personal property acquired by the savings
3153	3187		19 bank at the request of a prospective lessee and, upon the
3154	3188		20 agreement of that person, to lease the personal property.
3155	3189		21 (16) To establish temporary service booths at any
3156	3190		22 International Fair in this State that is approved by the
3157	3191		23 United States Department of Commerce for the duration of
3158	3192		24 the international fair for the purpose of providing a
3159	3193		25 convenient place for foreign trade customers to exchange
3160	3194		26 their home countries' currency into United States currency
3161	3195
3162	3196
3163	3197
3164	3198
3165	3199
3166		-	HB3467 ~~Engrossed~~ - 89 - LRB104 10334 BAB 20408 b
3167		-
3168		-
3169		-	HB3467 ~~Engrossed~~- 90 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 90 - LRB104 10334 BAB 20408 b
3170		-	HB3467 ~~Engrossed~~ - 90 - LRB104 10334 BAB 20408 b
	3200	+	HB3467 - 89 - LRB104 10334 BAB 20408 b
	3201	+
	3202	+
	3203	+	HB3467- 90 -LRB104 10334 BAB 20408 b HB3467 - 90 - LRB104 10334 BAB 20408 b
	3204	+	HB3467 - 90 - LRB104 10334 BAB 20408 b
3171	3205		1 or the converse. To provide temporary periodic service to
3172	3206		2 persons residing in a bona fide nursing home, senior
3173	3207		3 citizens' retirement home, or long-term care facility.
3174	3208		4 These powers shall not be construed as establishing a new
3175	3209		5 place or change of location for the savings bank providing
3176	3210		6 the service booth.
3177	3211		7 (17) To indemnify its officers, directors, employees,
3178	3212		8 and agents, as authorized for corporations under Section
3179	3213		9 8.75 of the Business Corporation Act of 1983.
3180	3214		10 (18) To provide data processing services to others on
3181	3215		11 a for-profit basis.
3182	3216		12 (19) To utilize any electronic technology to provide
3183	3217		13 customers with home banking services.
3184	3218		14 (20) Subject to the regulations of the Secretary, to
3185	3219		15 enter into an agreement to act as a surety.
3186	3220		16 (21) Subject to the regulations of the Secretary, to
3187	3221		17 issue credit cards, extend credit therewith, and otherwise
3188	3222		18 engage in or participate in credit card operations.
3189	3223		19 (22) To purchase for its own account shares of stock
3190	3224		20 of a bankers' bank, described in Section 13(b)(1) of the
3191	3225		21 Illinois Banking Act, on the same terms and conditions as
3192	3226		22 a bank may purchase such shares. In no event shall the
3193	3227		23 total amount of such stock held by a savings bank in such
3194	3228		24 bankers' bank exceed 10% of its capital and surplus
3195	3229		25 (including undivided profits) and in no event shall a
3196	3230		26 savings bank acquire more than 15% 5% of any class of
3197	3231
3198	3232
3199	3233
3200	3234
3201	3235
3202		-	HB3467 ~~Engrossed~~ - 90 - LRB104 10334 BAB 20408 b
3203		-
3204		-
3205		-	HB3467 ~~Engrossed~~- 91 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 91 - LRB104 10334 BAB 20408 b
3206		-	HB3467 ~~Engrossed~~ - 91 - LRB104 10334 BAB 20408 b
	3236	+	HB3467 - 90 - LRB104 10334 BAB 20408 b
	3237	+
	3238	+
	3239	+	HB3467- 91 -LRB104 10334 BAB 20408 b HB3467 - 91 - LRB104 10334 BAB 20408 b
	3240	+	HB3467 - 91 - LRB104 10334 BAB 20408 b
3207	3241		1 voting securities of such bankers' bank.
3208	3242		2 (23) With respect to affiliate facilities:
3209	3243		3 (A) to conduct at affiliate facilities any of the
3210	3244		4 following transactions for and on behalf of any
3211	3245		5 affiliated depository institution, if so authorized by
3212	3246		6 the affiliate or affiliates: receiving deposits;
3213	3247		7 renewing deposits; cashing and issuing checks, drafts,
3214	3248		8 money orders, travelers checks, or similar
3215	3249		9 instruments; changing money; receiving payments on
3216	3250		10 existing indebtedness; and conducting ministerial
3217	3251		11 functions with respect to loan applications, servicing
3218	3252		12 loans, and providing loan account information; and, on
3219	3253		13 behalf of another commonly owned bank, if so
3220	3254		14 authorized by the other bank, all transactions that
3221	3255		15 the other bank is authorized or permitted to perform;
3222	3256		16 and
3223	3257		17 (B) to authorize an affiliated depository
3224	3258		18 institution to conduct for and on behalf of it, any of
3225	3259		19 the transactions listed in this subsection at one or
3226	3260		20 more affiliate facilities.
3227	3261		21 A savings bank intending to conduct or to authorize an
3228	3262		22 affiliated depository institution to conduct at an
3229	3263		23 affiliate facility any of the transactions specified in
3230	3264		24 this subsection shall give written notice to the Secretary
3231	3265		25 at least 30 days before any such transaction is conducted
3232	3266		26 at an affiliate facility. All conduct under this
3233	3267
3234	3268
3235	3269
3236	3270
3237	3271
3238		-	HB3467 ~~Engrossed~~ - 91 - LRB104 10334 BAB 20408 b
3239		-
3240		-
3241		-	HB3467 ~~Engrossed~~- 92 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 92 - LRB104 10334 BAB 20408 b
3242		-	HB3467 ~~Engrossed~~ - 92 - LRB104 10334 BAB 20408 b
	3272	+	HB3467 - 91 - LRB104 10334 BAB 20408 b
	3273	+
	3274	+
	3275	+	HB3467- 92 -LRB104 10334 BAB 20408 b HB3467 - 92 - LRB104 10334 BAB 20408 b
	3276	+	HB3467 - 92 - LRB104 10334 BAB 20408 b
3243	3277		1 subsection shall be on terms consistent with safe and
3244	3278		2 sound banking practices and applicable law.
3245	3279		3 (24) Subject to Article XLIV of the Illinois Insurance
3246	3280		4 Code, to act as the agent for any fire, life, or other
3247	3281		5 insurance company authorized by the State of Illinois, by
3248	3282		6 soliciting and selling insurance and collecting premiums
3249	3283		7 on policies issued by such company; and may receive for
3250	3284		8 services so rendered such fees or commissions as may be
3251	3285		9 agreed upon between the said savings bank and the
3252	3286		10 insurance company for which it may act as agent; provided,
3253	3287		11 however, that no such savings bank shall in any case
3254	3288		12 assume or guarantee the payment of any premium on
3255	3289		13 insurance policies issued through its agency by its
3256	3290		14 principal; and provided further, that the savings bank
3257	3291		15 shall not guarantee the truth of any statement made by an
3258	3292		16 assured in filing his application for insurance.
3259	3293		17 (25) To become a member of the Federal Home Loan Bank
3260	3294		18 and to have the powers granted to a savings association
3261	3295		19 organized under the Illinois Savings and Loan Act of 1985
3262	3296		20 or the laws of the United States, subject to regulations
3263	3297		21 of the Secretary.
3264	3298		22 (26) To offer any product or service that is at the
3265	3299		23 time authorized or permitted to a bank by applicable law,
3266	3300		24 but subject always to the same limitations and
3267	3301		25 restrictions that are applicable to the bank for the
3268	3302		26 product or service by such applicable law and subject to
3269	3303
3270	3304
3271	3305
3272	3306
3273	3307
3274		-	HB3467 ~~Engrossed~~ - 92 - LRB104 10334 BAB 20408 b
3275		-
3276		-
3277		-	HB3467 ~~Engrossed~~- 93 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 93 - LRB104 10334 BAB 20408 b
3278		-	HB3467 ~~Engrossed~~ - 93 - LRB104 10334 BAB 20408 b
	3308	+	HB3467 - 92 - LRB104 10334 BAB 20408 b
	3309	+
	3310	+
	3311	+	HB3467- 93 -LRB104 10334 BAB 20408 b HB3467 - 93 - LRB104 10334 BAB 20408 b
	3312	+	HB3467 - 93 - LRB104 10334 BAB 20408 b
3279	3313		1 the applicable provisions of the Financial Institutions
3280	3314		2 Insurance Sales Law and rules of the Secretary.
3281	3315		3 (b) If this Act or the regulations adopted under this Act
3282	3316		4 fail to provide specific guidance in matters of corporate
3283	3317		5 governance, the provisions of the Business Corporation Act of
3284	3318		6 1983 may be used, or if the savings bank is a limited liability
3285	3319		7 company, the provisions of the Limited Liability Company Act
3286	3320		8 shall be used.
3287	3321		9 (c) A savings bank may be organized as a limited liability
3288	3322		10 company, may convert to a limited liability company, or may
3289	3323		11 merge with and into a limited liability company, under the
3290	3324		12 applicable laws of this State and of the United States,
3291	3325		13 including any rules promulgated thereunder. A savings bank
3292	3326		14 organized as a limited liability company shall be subject to
3293	3327		15 the provisions of the Limited Liability Company Act in
3294	3328		16 addition to this Act, provided that if a provision of the
3295	3329		17 Limited Liability Company Act conflicts with a provision of
3296	3330		18 this Act or with any rule of the Secretary, the provision of
3297	3331		19 this Act or the rule of the Secretary shall apply.
3298	3332		20 Any filing required to be made under the Limited Liability
3299	3333		21 Company Act shall be made exclusively with the Secretary, and
3300	3334		22 the Secretary shall possess the exclusive authority to
3301	3335		23 regulate the savings bank as provided in this Act.
3302	3336		24 Any organization as, conversion to, and merger with or
3303	3337		25 into a limited liability company shall be subject to the prior
3304	3338		26 approval of the Secretary.
3305	3339
3306	3340
3307	3341
3308	3342
3309	3343
3310		-	HB3467 ~~Engrossed~~ - 93 - LRB104 10334 BAB 20408 b
3311		-
3312		-
3313		-	HB3467 ~~Engrossed~~- 94 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 94 - LRB104 10334 BAB 20408 b
3314		-	HB3467 ~~Engrossed~~ - 94 - LRB104 10334 BAB 20408 b
	3344	+	HB3467 - 93 - LRB104 10334 BAB 20408 b
	3345	+
	3346	+
	3347	+	HB3467- 94 -LRB104 10334 BAB 20408 b HB3467 - 94 - LRB104 10334 BAB 20408 b
	3348	+	HB3467 - 94 - LRB104 10334 BAB 20408 b
3315	3349		1 A savings bank that is a limited liability company shall
3316	3350		2 be subject to all of the provisions of this Act in the same
3317	3351		3 manner as a savings bank that is organized in stock form.
3318	3352		4 The Secretary may promulgate rules to ensure that a
3319	3353		5 savings bank that is a limited liability company (i) is
3320	3354		6 operating in a safe and sound manner and (ii) is subject to the
3321	3355		7 Secretary's authority in the same manner as a savings bank
3322	3356		8 that is organized in stock form.
3323	3357		9 (Source: P.A. 102-558, eff. 8-20-21.)
3324	3358		10 (205 ILCS 205/4002) (from Ch. 17, par. 7304-2)
3325	3359		11 Sec. 4002. Annual and special meetings. Dates of annual
3326	3360		12 meetings of members or stockholders shall be specified in the
3327	3361		13 bylaws. Failure to hold an annual meeting shall not cause a
3328	3362		14 forfeiture or dissolution of the savings bank. Special
3329	3363		15 meetings may be called by the board of directors, the holders
3330	3364		16 of not less than 25% of the outstanding capital stock shares,
3331	3365		17 or by any other person as the bylaws may designate. The
3332	3366		18 Commissioner may also call a special meeting with not less
3333	3367		19 than 12 hours written or oral notice. Every annual or special
3334	3368		20 meeting shall be held at the business office of the savings
3335	3369		21 bank or, if the space is inadequate, in another place within
3336	3370		22 the same county as shall be specifically designated in the
3337	3371		23 notice of the meeting, or virtually. Unless expressly
3338	3372		24 prohibited by the articles of incorporation or bylaws and
3339	3373		25 subject to applicable requirements of this Act, the board of
3340	3374
3341	3375
3342	3376
3343	3377
3344	3378
3345		-	HB3467 ~~Engrossed~~ - 94 - LRB104 10334 BAB 20408 b
3346		-
3347		-
3348		-	HB3467 ~~Engrossed~~- 95 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 95 - LRB104 10334 BAB 20408 b
3349		-	HB3467 ~~Engrossed~~ - 95 - LRB104 10334 BAB 20408 b
	3379	+	HB3467 - 94 - LRB104 10334 BAB 20408 b
	3380	+
	3381	+
	3382	+	HB3467- 95 -LRB104 10334 BAB 20408 b HB3467 - 95 - LRB104 10334 BAB 20408 b
	3383	+	HB3467 - 95 - LRB104 10334 BAB 20408 b
3350	3384		1 directors may provide by resolution that members or
3351	3385		2 stockholders may attend, participate in, act in, and vote at
3352	3386		3 any annual meeting or special meeting through the use of a
3353	3387		4 conference telephone or interactive technology, including, but
3354	3388		5 not limited to, electronic transmission, Internet usage, or
3355	3389		6 remote communication, by means of which all persons
3356	3390		7 participating in the meeting can communicate with each other.
3357	3391		8 Participation through the use of a conference telephone or
3358	3392		9 interactive technology shall constitute attendance, presence,
3359	3393		10 and representation in person at the annual meeting or special
3360	3394		11 meeting of the person or persons so participating and count
3361	3395		12 toward the quorum required to conduct business at the meeting.
3362	3396		13 The following conditions shall apply to any virtual meeting of
3363	3397		14 members or stockholders:
3364	3398		15 (a) the savings bank must internally possess or retain the
3365	3399		16 technological capacity to facilitate virtual meeting
3366	3400		17 attendance, participation, communication, and voting; and
3367	3401		18 (b) members or stockholders must receive notice of the use
3368	3402		19 of a virtual meeting format and appropriate instructions for
3369	3403		20 joining, participating, and voting during the virtual meeting
3370	3404		21 at least 7 days before the virtual meeting.
3371	3405		22 (Source: P.A. 86-1213.)
3372	3406		23 (205 ILCS 205/4003) (from Ch. 17, par. 7304-3)
3373	3407		24 Sec. 4003. Notice of meetings.
3374	3408		25 (a) Notice of an annual meeting shall be published once
3375	3409
3376	3410
3377	3411
3378	3412
3379	3413
3380		-	HB3467 ~~Engrossed~~ - 95 - LRB104 10334 BAB 20408 b
3381		-
3382		-
3383		-	HB3467 ~~Engrossed~~- 96 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 96 - LRB104 10334 BAB 20408 b
3384		-	HB3467 ~~Engrossed~~ - 96 - LRB104 10334 BAB 20408 b
	3414	+	HB3467 - 95 - LRB104 10334 BAB 20408 b
	3415	+
	3416	+
	3417	+	HB3467- 96 -LRB104 10334 BAB 20408 b HB3467 - 96 - LRB104 10334 BAB 20408 b
	3418	+	HB3467 - 96 - LRB104 10334 BAB 20408 b
3385	3419		1 not fewer than 10 days nor more than 40 days before the date of
3386	3420		2 the meeting. The notice shall also be displayed at the place of
3387	3421		3 business of the savings bank in a manner to be prescribed by
3388	3422		4 the Commissioner. The notice must state the time, place, and
3389	3423		5 purpose of the meeting.
3390	3424		6 (b) For any special meeting or for any annual meeting that
3391	3425		7 is to consider any proposition that requires an affirmative
3392	3426		8 vote of two-thirds of the members or stockholders or any
3393	3427		9 proposition to amend the articles of incorporation of the
3394	3428		10 savings bank, the notice must be delivered personally,
3395	3429		11 electronically, or by mail to the holders of stock, capital
3396	3430		12 accounts, and membership entitled to notice of or to vote at
3397	3431		13 the meeting, by mail, postmarked between 10 and 40 days before
3398	3432		14 the date of the meeting, and must also be posted at the savings
3399	3433		15 bank's offices as if for an annual meeting, beginning on the
3400	3434		16 date notice is given. All notices must state the time, place,
3401	3435		17 and purpose of the meeting. If mailed, the notice shall be
3402	3436		18 deemed to be delivered on the date on which it has been
3403	3437		19 postmarked.
3404	3438		20 (Source: P.A. 89-74, eff. 6-30-95.)
3405	3439		21 (205 ILCS 205/4013) (from Ch. 17, par. 7304-13)
3406	3440		22 Sec. 4013. Access to books and records; communication with
3407	3441		23 members and shareholders.
3408	3442		24 (a) Every member or shareholder shall have the right to
3409	3443		25 inspect books and records of the savings bank that pertain to
3410	3444
3411	3445
3412	3446
3413	3447
3414	3448
3415		-	HB3467 ~~Engrossed~~ - 96 - LRB104 10334 BAB 20408 b
3416		-
3417		-
3418		-	HB3467 ~~Engrossed~~- 97 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 97 - LRB104 10334 BAB 20408 b
3419		-	HB3467 ~~Engrossed~~ - 97 - LRB104 10334 BAB 20408 b
	3449	+	HB3467 - 96 - LRB104 10334 BAB 20408 b
	3450	+
	3451	+
	3452	+	HB3467- 97 -LRB104 10334 BAB 20408 b HB3467 - 97 - LRB104 10334 BAB 20408 b
	3453	+	HB3467 - 97 - LRB104 10334 BAB 20408 b
3420	3454		1 his accounts. Otherwise, the right of inspection and
3421	3455		2 examination of the books and records shall be limited as
3422	3456		3 provided in this Act, and no other person shall have access to
3423	3457		4 the books and records nor shall be entitled to a list of the
3424	3458		5 members or shareholders.
3425	3459		6 (b) For the purpose of this Section, the term "financial
3426	3460		7 records" means any original, any copy, or any summary of (1) a
3427	3461		8 document granting signature authority over a deposit or
3428	3462		9 account; (2) a statement, ledger card, or other record on any
3429	3463		10 deposit or account that shows each transaction in or with
3430	3464		11 respect to that account; (3) a check, draft, or money order
3431	3465		12 drawn on a savings bank or issued and payable by a savings
3432	3466		13 bank; or (4) any other item containing information pertaining
3433	3467		14 to any relationship established in the ordinary course of a
3434	3468		15 savings bank's business between a savings bank and its
3435	3469		16 customer, including financial statements or other financial
3436	3470		17 information provided by the member or shareholder.
3437	3471		18 (c) This Section does not prohibit:
3438	3472		19 (1) The preparation, examination, handling, or
3439	3473		20 maintenance of any financial records by any officer,
3440	3474		21 employee, or agent of a savings bank having custody of
3441	3475		22 records or examination of records by a certified public
3442	3476		23 accountant engaged by the savings bank to perform an
3443	3477		24 independent audit.
3444	3478		25 (2) The examination of any financial records by, or
3445	3479		26 the furnishing of financial records by a savings bank to,
3446	3480
3447	3481
3448	3482
3449	3483
3450	3484
3451		-	HB3467 ~~Engrossed~~ - 97 - LRB104 10334 BAB 20408 b
3452		-
3453		-
3454		-	HB3467 ~~Engrossed~~- 98 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 98 - LRB104 10334 BAB 20408 b
3455		-	HB3467 ~~Engrossed~~ - 98 - LRB104 10334 BAB 20408 b
	3485	+	HB3467 - 97 - LRB104 10334 BAB 20408 b
	3486	+
	3487	+
	3488	+	HB3467- 98 -LRB104 10334 BAB 20408 b HB3467 - 98 - LRB104 10334 BAB 20408 b
	3489	+	HB3467 - 98 - LRB104 10334 BAB 20408 b
3456	3490		1 any officer, employee, or agent of the Commissioner of
3457	3491		2 Banks and Real Estate or the federal depository
3458	3492		3 institution regulator for use solely in the exercise of
3459	3493		4 his duties as an officer, employee, or agent.
3460	3494		5 (3) The publication of data furnished from financial
3461	3495		6 records relating to members or holders of capital where
3462	3496		7 the data cannot be identified to any particular member,
3463	3497		8 shareholder, or account.
3464	3498		9 (4) The making of reports or returns required under
3465	3499		10 Chapter 61 of the Internal Revenue Code of 1986.
3466	3500		11 (5) Furnishing information concerning the dishonor of
3467	3501		12 any negotiable instrument permitted to be disclosed under
3468	3502		13 the Uniform Commercial Code.
3469	3503		14 (6) The exchange in the regular course of business of
3470	3504		15 (i) credit information between a savings bank and other
3471	3505		16 savings banks or financial institutions or commercial
3472	3506		17 enterprises, directly or through a consumer reporting
3473	3507		18 agency or (ii) financial records or information derived
3474	3508		19 from financial records between a savings bank and other
3475	3509		20 savings banks or financial institutions or commercial
3476	3510		21 enterprises for the purpose of conducting due diligence
3477	3511		22 pursuant to a purchase or sale involving the savings bank
3478	3512		23 or assets or liabilities of the savings bank.
3479	3513		24 (7) The furnishing of information to the appropriate
3480	3514		25 law enforcement authorities where the savings bank
3481	3515		26 reasonably believes it has been the victim of a crime.
3482	3516
3483	3517
3484	3518
3485	3519
3486	3520
3487		-	HB3467 ~~Engrossed~~ - 98 - LRB104 10334 BAB 20408 b
3488		-
3489		-
3490		-	HB3467 ~~Engrossed~~- 99 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 99 - LRB104 10334 BAB 20408 b
3491		-	HB3467 ~~Engrossed~~ - 99 - LRB104 10334 BAB 20408 b
	3521	+	HB3467 - 98 - LRB104 10334 BAB 20408 b
	3522	+
	3523	+
	3524	+	HB3467- 99 -LRB104 10334 BAB 20408 b HB3467 - 99 - LRB104 10334 BAB 20408 b
	3525	+	HB3467 - 99 - LRB104 10334 BAB 20408 b
3492	3526		1 (8) The furnishing of information pursuant to the
3493	3527		2 Revised Uniform Unclaimed Property Act.
3494	3528		3 (9) The furnishing of information pursuant to the
3495	3529		4 Illinois Income Tax Act and the Illinois Estate and
3496	3530		5 Generation-Skipping Transfer Tax Act.
3497	3531		6 (10) The furnishing of information pursuant to the
3498	3532		7 federal Currency and Foreign Transactions Reporting Act,
3499	3533		8 (Title 31, United States Code, Section 1051 et seq.).
3500	3534		9 (11) The furnishing of information pursuant to any
3501	3535		10 other statute which by its terms or by regulations
3502	3536		11 promulgated thereunder requires the disclosure of
3503	3537		12 financial records other than by subpoena, summons,
3504	3538		13 warrant, or court order.
3505	3539		14 (12) The furnishing of information in accordance with
3506	3540		15 the federal Personal Responsibility and Work Opportunity
3507	3541		16 Reconciliation Act of 1996. Any savings bank governed by
3508	3542		17 this Act shall enter into an agreement for data exchanges
3509	3543		18 with a State agency provided the State agency pays to the
3510	3544		19 savings bank a reasonable fee not to exceed its actual
3511	3545		20 cost incurred. A savings bank providing information in
3512	3546		21 accordance with this item shall not be liable to any
3513	3547		22 account holder or other person for any disclosure of
3514	3548		23 information to a State agency, for encumbering or
3515	3549		24 surrendering any assets held by the savings bank in
3516	3550		25 response to a lien or order to withhold and deliver issued
3517	3551		26 by a State agency, or for any other action taken pursuant
3518	3552
3519	3553
3520	3554
3521	3555
3522	3556
3523		-	HB3467 ~~Engrossed~~ - 99 - LRB104 10334 BAB 20408 b
3524		-
3525		-
3526		-	HB3467 ~~Engrossed~~- 100 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 100 - LRB104 10334 BAB 20408 b
3527		-	HB3467 ~~Engrossed~~ - 100 - LRB104 10334 BAB 20408 b
	3557	+	HB3467 - 99 - LRB104 10334 BAB 20408 b
	3558	+
	3559	+
	3560	+	HB3467- 100 -LRB104 10334 BAB 20408 b HB3467 - 100 - LRB104 10334 BAB 20408 b
	3561	+	HB3467 - 100 - LRB104 10334 BAB 20408 b
3528	3562		1 to this item, including individual or mechanical errors,
3529	3563		2 provided the action does not constitute gross negligence
3530	3564		3 or willful misconduct. A savings bank shall have no
3531	3565		4 obligation to hold, encumber, or surrender assets until it
3532	3566		5 has been served with a subpoena, summons, warrant, court
3533	3567		6 or administrative order, lien, or levy.
3534	3568		7 (13) The furnishing of information to law enforcement
3535	3569		8 authorities, the Illinois Department on Aging and its
3536	3570		9 regional administrative and provider agencies, the
3537	3571		10 Department of Human Services Office of Inspector General,
3538	3572		11 or public guardians: (i) upon subpoena by the
3539	3573		12 investigatory entity or the guardian, or (ii) if there is
3540	3574		13 suspicion by the savings bank that a customer who is an
3541	3575		14 elderly person or person with a disability has been or may
3542	3576		15 become the victim of financial exploitation. For the
3543	3577		16 purposes of this item (13), the term: (i) "elderly person"
3544	3578		17 means a person who is 60 or more years of age, (ii) "person
3545	3579		18 with a disability" means a person who has or reasonably
3546	3580		19 appears to the savings bank to have a physical or mental
3547	3581		20 disability that impairs his or her ability to seek or
3548	3582		21 obtain protection from or prevent financial exploitation,
3549	3583		22 and (iii) "financial exploitation" means tortious or
3550	3584		23 illegal use of the assets or resources of an elderly
3551	3585		24 person or person with a disability, and includes, without
3552	3586		25 limitation, misappropriation of the assets or resources of
3553	3587		26 the elderly person or person with a disability by undue
3554	3588
3555	3589
3556	3590
3557	3591
3558	3592
3559		-	HB3467 ~~Engrossed~~ - 100 - LRB104 10334 BAB 20408 b
3560		-
3561		-
3562		-	HB3467 ~~Engrossed~~- 101 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 101 - LRB104 10334 BAB 20408 b
3563		-	HB3467 ~~Engrossed~~ - 101 - LRB104 10334 BAB 20408 b
	3593	+	HB3467 - 100 - LRB104 10334 BAB 20408 b
	3594	+
	3595	+
	3596	+	HB3467- 101 -LRB104 10334 BAB 20408 b HB3467 - 101 - LRB104 10334 BAB 20408 b
	3597	+	HB3467 - 101 - LRB104 10334 BAB 20408 b
3564	3598		1 influence, breach of fiduciary relationship, intimidation,
3565	3599		2 fraud, deception, extortion, or the use of assets or
3566	3600		3 resources in any manner contrary to law. A savings bank or
3567	3601		4 person furnishing information pursuant to this item (13)
3568	3602		5 shall be entitled to the same rights and protections as a
3569	3603		6 person furnishing information under the Adult Protective
3570	3604		7 Services Act and the Illinois Domestic Violence Act of
3571	3605		8 1986.
3572	3606		9 (14) The disclosure of financial records or
3573	3607		10 information as necessary to effect, administer, or enforce
3574	3608		11 a transaction requested or authorized by the member or
3575	3609		12 holder of capital, or in connection with:
3576	3610		13 (A) servicing or processing a financial product or
3577	3611		14 service requested or authorized by the member or
3578	3612		15 holder of capital;
3579	3613		16 (B) maintaining or servicing an account of a
3580	3614		17 member or holder of capital with the savings bank; or
3581	3615		18 (C) a proposed or actual securitization or
3582	3616		19 secondary market sale (including sales of servicing
3583	3617		20 rights) related to a transaction of a member or holder
3584	3618		21 of capital.
3585	3619		22 Nothing in this item (14), however, authorizes the
3586	3620		23 sale of the financial records or information of a member
3587	3621		24 or holder of capital without the consent of the member or
3588	3622		25 holder of capital.
3589	3623		26 (15) The exchange in the regular course of business of
3590	3624
3591	3625
3592	3626
3593	3627
3594	3628
3595		-	HB3467 ~~Engrossed~~ - 101 - LRB104 10334 BAB 20408 b
3596		-
3597		-
3598		-	HB3467 ~~Engrossed~~- 102 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 102 - LRB104 10334 BAB 20408 b
3599		-	HB3467 ~~Engrossed~~ - 102 - LRB104 10334 BAB 20408 b
	3629	+	HB3467 - 101 - LRB104 10334 BAB 20408 b
	3630	+
	3631	+
	3632	+	HB3467- 102 -LRB104 10334 BAB 20408 b HB3467 - 102 - LRB104 10334 BAB 20408 b
	3633	+	HB3467 - 102 - LRB104 10334 BAB 20408 b
3600	3634		1 information between a savings bank and any commonly owned
3601	3635		2 affiliate of the savings bank, subject to the provisions
3602	3636		3 of the Financial Institutions Insurance Sales Law.
3603	3637		4 (16) The disclosure of financial records or
3604	3638		5 information as necessary to protect against or prevent
3605	3639		6 actual or potential fraud, unauthorized transactions,
3606	3640		7 claims, or other liability.
3607	3641		8 (17)(a) The disclosure of financial records or
3608	3642		9 information related to a private label credit program
3609	3643		10 between a financial institution and a private label party
3610	3644		11 in connection with that private label credit program. Such
3611	3645		12 information is limited to outstanding balance, available
3612	3646		13 credit, payment and performance and account history,
3613	3647		14 product references, purchase information, and information
3614	3648		15 related to the identity of the customer.
3615	3649		16 (b)(1) For purposes of this paragraph (17) of
3616	3650		17 subsection (c) of Section 4013, a "private label credit
3617	3651		18 program" means a credit program involving a financial
3618	3652		19 institution and a private label party that is used by a
3619	3653		20 customer of the financial institution and the private
3620	3654		21 label party primarily for payment for goods or services
3621	3655		22 sold, manufactured, or distributed by a private label
3622	3656		23 party.
3623	3657		24 (2) For purposes of this paragraph (17) of subsection
3624	3658		25 (c) of Section 4013, a "private label party" means, with
3625	3659		26 respect to a private label credit program, any of the
3626	3660
3627	3661
3628	3662
3629	3663
3630	3664
3631		-	HB3467 ~~Engrossed~~ - 102 - LRB104 10334 BAB 20408 b
3632		-
3633		-
3634		-	HB3467 ~~Engrossed~~- 103 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 103 - LRB104 10334 BAB 20408 b
3635		-	HB3467 ~~Engrossed~~ - 103 - LRB104 10334 BAB 20408 b
	3665	+	HB3467 - 102 - LRB104 10334 BAB 20408 b
	3666	+
	3667	+
	3668	+	HB3467- 103 -LRB104 10334 BAB 20408 b HB3467 - 103 - LRB104 10334 BAB 20408 b
	3669	+	HB3467 - 103 - LRB104 10334 BAB 20408 b
3636	3670		1 following: a retailer, a merchant, a manufacturer, a trade
3637	3671		2 group, or any such person's affiliate, subsidiary, member,
3638	3672		3 agent, or service provider.
3639	3673		4 (18)(a) The furnishing of financial records of a
3640	3674		5 customer to the Department to aid the Department's initial
3641	3675		6 determination or subsequent re-determination of the
3642	3676		7 customer's eligibility for Medicaid and Medicaid long-term
3643	3677		8 care benefits for long-term care services, provided that
3644	3678		9 the savings bank receives the written consent and
3645	3679		10 authorization of the customer, which shall:
3646	3680		11 (1) have the customer's signature notarized;
3647	3681		12 (2) be signed by at least one witness who
3648	3682		13 certifies that he or she believes the customer to be of
3649	3683		14 sound mind and memory;
3650	3684		15 (3) be tendered to the savings bank at the
3651	3685		16 earliest practicable time following its execution,
3652	3686		17 certification, and notarization;
3653	3687		18 (4) specifically limit the disclosure of the
3654	3688		19 customer's financial records to the Department; and
3655	3689		20 (5) be in substantially the following form:
3656	3690		21 CUSTOMER CONSENT AND AUTHORIZATION
3657	3691		22 FOR RELEASE OF FINANCIAL RECORDS
3658	3692		23 I, ......................................., hereby authorize
3659	3693		24 (Name of Customer)
3660	3694
3661	3695
3662	3696
3663	3697
3664	3698
3665		-	HB3467 ~~Engrossed~~ - 103 - LRB104 10334 BAB 20408 b
3666		-
3667		-
3668		-	HB3467 ~~Engrossed~~- 104 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 104 - LRB104 10334 BAB 20408 b
3669		-	HB3467 ~~Engrossed~~ - 104 - LRB104 10334 BAB 20408 b
	3699	+	HB3467 - 103 - LRB104 10334 BAB 20408 b
	3700	+
	3701	+
	3702	+	HB3467- 104 -LRB104 10334 BAB 20408 b HB3467 - 104 - LRB104 10334 BAB 20408 b
	3703	+	HB3467 - 104 - LRB104 10334 BAB 20408 b
3670	3704		1 .............................................................
3671	3705		2 (Name of Financial Institution)
3672	3706		3 .............................................................
3673	3707		4 (Address of Financial Institution)
3674	3708		5 to disclose the following financial records:
3675	3709		6 any and all information concerning my deposit, savings, money
3676	3710		7 market, certificate of deposit, individual retirement,
3677	3711		8 retirement plan, 401(k) plan, incentive plan, employee benefit
3678	3712		9 plan, mutual fund and loan accounts (including, but not
3679	3713		10 limited to, any indebtedness or obligation for which I am a
3680	3714		11 co-borrower, co-obligor, guarantor, or surety), and any and
3681	3715		12 all other accounts in which I have an interest and any other
3682	3716		13 information regarding me in the possession of the Financial
3683	3717		14 Institution,
3684	3718		15 to the Illinois Department of Human Services or the Illinois
3685	3719		16 Department of Healthcare and Family Services, or both ("the
3686	3720		17 Department"), for the following purpose(s):
3687	3721		18 to aid in the initial determination or re-determination by the
3688	3722		19 State of Illinois of my eligibility for Medicaid long-term
3689	3723		20 care benefits, pursuant to applicable law.
3690	3724
3691	3725
3692	3726
3693	3727
3694	3728
3695		-	HB3467 ~~Engrossed~~ - 104 - LRB104 10334 BAB 20408 b
3696		-
3697		-
3698		-	HB3467 ~~Engrossed~~- 105 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 105 - LRB104 10334 BAB 20408 b
3699		-	HB3467 ~~Engrossed~~ - 105 - LRB104 10334 BAB 20408 b
	3729	+	HB3467 - 104 - LRB104 10334 BAB 20408 b
	3730	+
	3731	+
	3732	+	HB3467- 105 -LRB104 10334 BAB 20408 b HB3467 - 105 - LRB104 10334 BAB 20408 b
	3733	+	HB3467 - 105 - LRB104 10334 BAB 20408 b
3700	3734		1 I understand that this Consent and Authorization may be
3701	3735		2 revoked by me in writing at any time before my financial
3702	3736		3 records, as described above, are disclosed, and that this
3703	3737		4 Consent and Authorization is valid until the Financial
3704	3738		5 Institution receives my written revocation. This Consent and
3705	3739		6 Authorization shall constitute valid authorization for the
3706	3740		7 Department identified above to inspect all such financial
3707	3741		8 records set forth above, and to request and receive copies of
3708	3742		9 such financial records from the Financial Institution (subject
3709	3743		10 to such records search and reproduction reimbursement policies
3710	3744		11 as the Financial Institution may have in place). An executed
3711	3745		12 copy of this Consent and Authorization shall be sufficient and
3712	3746		13 as good as the original and permission is hereby granted to
3713	3747		14 honor a photostatic or electronic copy of this Consent and
3714	3748		15 Authorization. Disclosure is strictly limited to the
3715	3749		16 Department identified above and no other person or entity
3716	3750		17 shall receive my financial records pursuant to this Consent
3717	3751		18 and Authorization. By signing this form, I agree to indemnify
3718	3752		19 and hold the Financial Institution harmless from any and all
3719	3753		20 claims, demands, and losses, including reasonable attorneys
3720	3754		21 fees and expenses, arising from or incurred in its reliance on
3721	3755		22 this Consent and Authorization. As used herein, "Customer"
3722	3756		23 shall mean "Member" if the Financial Institution is a credit
3723	3757		24 union.
3724	3758
3725	3759
3726	3760
3727	3761
3728	3762
3729		-	HB3467 ~~Engrossed~~ - 105 - LRB104 10334 BAB 20408 b
3730		-
3731		-
3732		-	HB3467 ~~Engrossed~~- 106 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 106 - LRB104 10334 BAB 20408 b
3733		-	HB3467 ~~Engrossed~~ - 106 - LRB104 10334 BAB 20408 b
	3763	+	HB3467 - 105 - LRB104 10334 BAB 20408 b
	3764	+
	3765	+
	3766	+	HB3467- 106 -LRB104 10334 BAB 20408 b HB3467 - 106 - LRB104 10334 BAB 20408 b
	3767	+	HB3467 - 106 - LRB104 10334 BAB 20408 b
3734	3768		1 ....................... ......................
3735	3769		2 (Date) (Signature of Customer)
3736	3770		3 ......................
3737	3771		4 ......................
3738	3772		5 (Address of Customer)
3739	3773		6 ......................
3740	3774		7 (Customer's birth date)
3741	3775		8 (month/day/year)
3742	3776		9 The undersigned witness certifies that .................,
3743	3777		10 known to me to be the same person whose name is subscribed as
3744	3778		11 the customer to the foregoing Consent and Authorization,
3745	3779		12 appeared before me and the notary public and acknowledged
3746	3780		13 signing and delivering the instrument as his or her free and
3747	3781		14 voluntary act for the uses and purposes therein set forth. I
3748	3782		15 believe him or her to be of sound mind and memory. The
3749	3783		16 undersigned witness also certifies that the witness is not an
3750	3784		17 owner, operator, or relative of an owner or operator of a
3751	3785		18 long-term care facility in which the customer is a patient or
3752	3786		19 resident.
3753	3787		20 Dated: ................. ......................
3754	3788		21 (Signature of Witness)
3755	3789
3756	3790
3757	3791
3758	3792
3759	3793
3760		-	HB3467 ~~Engrossed~~ - 106 - LRB104 10334 BAB 20408 b
3761		-
3762		-
3763		-	HB3467 ~~Engrossed~~- 107 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 107 - LRB104 10334 BAB 20408 b
3764		-	HB3467 ~~Engrossed~~ - 107 - LRB104 10334 BAB 20408 b
	3794	+	HB3467 - 106 - LRB104 10334 BAB 20408 b
	3795	+
	3796	+
	3797	+	HB3467- 107 -LRB104 10334 BAB 20408 b HB3467 - 107 - LRB104 10334 BAB 20408 b
	3798	+	HB3467 - 107 - LRB104 10334 BAB 20408 b
3765	3799		1 ......................
3766	3800		2 (Print Name of Witness)
3767	3801		3 ......................
3768	3802		4 ......................
3769	3803		5 (Address of Witness)
3770	3804		6 State of Illinois)
3771	3805		7 ) ss.
3772	3806		8 County of .......)
3773	3807		9 The undersigned, a notary public in and for the above county
3774	3808		10 and state, certifies that .........., known to me to be the
3775	3809		11 same person whose name is subscribed as the customer to the
3776	3810		12 foregoing Consent and Authorization, appeared before me
3777	3811		13 together with the witness, .........., in person and
3778	3812		14 acknowledged signing and delivering the instrument as the free
3779	3813		15 and voluntary act of the customer for the uses and purposes
3780	3814		16 therein set forth.
3781	3815		17 Dated:.......................................................
3782	3816		18 Notary Public:...............................................
3783	3817		19 My commission expires:.......................................
3784	3818		20 (b) In no event shall the savings bank distribute the
3785	3819		21 customer's financial records to the long-term care
3786	3820
3787	3821
3788	3822
3789	3823
3790	3824
3791		-	HB3467 ~~Engrossed~~ - 107 - LRB104 10334 BAB 20408 b
3792		-
3793		-
3794		-	HB3467 ~~Engrossed~~- 108 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 108 - LRB104 10334 BAB 20408 b
3795		-	HB3467 ~~Engrossed~~ - 108 - LRB104 10334 BAB 20408 b
	3825	+	HB3467 - 107 - LRB104 10334 BAB 20408 b
	3826	+
	3827	+
	3828	+	HB3467- 108 -LRB104 10334 BAB 20408 b HB3467 - 108 - LRB104 10334 BAB 20408 b
	3829	+	HB3467 - 108 - LRB104 10334 BAB 20408 b
3796	3830		1 facility from which the customer seeks initial or
3797	3831		2 continuing residency or long-term care services.
3798	3832		3 (c) A savings bank providing financial records of a
3799	3833		4 customer in good faith relying on a consent and
3800	3834		5 authorization executed and tendered in accordance with
3801	3835		6 this paragraph (18) shall not be liable to the customer or
3802	3836		7 any other person in relation to the savings bank's
3803	3837		8 disclosure of the customer's financial records to the
3804	3838		9 Department. The customer signing the consent and
3805	3839		10 authorization shall indemnify and hold the savings bank
3806	3840		11 harmless that relies in good faith upon the consent and
3807	3841		12 authorization and incurs a loss because of such reliance.
3808	3842		13 The savings bank recovering under this indemnification
3809	3843		14 provision shall also be entitled to reasonable attorney's
3810	3844		15 fees and the expenses of recovery.
3811	3845		16 (d) A savings bank shall be reimbursed by the customer
3812	3846		17 for all costs reasonably necessary and directly incurred
3813	3847		18 in searching for, reproducing, and disclosing a customer's
3814	3848		19 financial records required or requested to be produced
3815	3849		20 pursuant to any consent and authorization executed under
3816	3850		21 this paragraph (18). The requested financial records shall
3817	3851		22 be delivered to the Department within 10 days after
3818	3852		23 receiving a properly executed consent and authorization or
3819	3853		24 at the earliest practicable time thereafter if the
3820	3854		25 requested records cannot be delivered within 10 days, but
3821	3855		26 delivery may be delayed until the final reimbursement of
3822	3856
3823	3857
3824	3858
3825	3859
3826	3860
3827		-	HB3467 ~~Engrossed~~ - 108 - LRB104 10334 BAB 20408 b
3828		-
3829		-
3830		-	HB3467 ~~Engrossed~~- 109 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 109 - LRB104 10334 BAB 20408 b
3831		-	HB3467 ~~Engrossed~~ - 109 - LRB104 10334 BAB 20408 b
	3861	+	HB3467 - 108 - LRB104 10334 BAB 20408 b
	3862	+
	3863	+
	3864	+	HB3467- 109 -LRB104 10334 BAB 20408 b HB3467 - 109 - LRB104 10334 BAB 20408 b
	3865	+	HB3467 - 109 - LRB104 10334 BAB 20408 b
3832	3866		1 all costs is received by the savings bank. The savings
3833	3867		2 bank may honor a photostatic or electronic copy of a
3834	3868		3 properly executed consent and authorization.
3835	3869		4 (e) Nothing in this paragraph (18) shall impair,
3836	3870		5 abridge, or abrogate the right of a customer to:
3837	3871		6 (1) directly disclose his or her financial records
3838	3872		7 to the Department or any other person; or
3839	3873		8 (2) authorize his or her attorney or duly
3840	3874		9 appointed agent to request and obtain the customer's
3841	3875		10 financial records and disclose those financial records
3842	3876		11 to the Department.
3843	3877		12 (f) For purposes of this paragraph (18), "Department"
3844	3878		13 means the Department of Human Services and the Department
3845	3879		14 of Healthcare and Family Services or any successor
3846	3880		15 administrative agency of either agency.
3847	3881		16 (19) The furnishing of financial records of a deceased
3848	3882		17 customer to a public administrator of any county or other
3849	3883		18 governmental jurisdiction for the purpose of facilitating
3850	3884		19 burial of the customer.
3851	3885		20 (d) A savings bank may not disclose to any person, except
3852	3886		21 to the member or holder of capital or his duly authorized
3853	3887		22 agent, any financial records relating to that member or
3854	3888		23 shareholder of the savings bank unless:
3855	3889		24 (1) the member or shareholder has authorized
3856	3890		25 disclosure to the person; or
3857	3891		26 (2) the financial records are disclosed in response to
3858	3892
3859	3893
3860	3894
3861	3895
3862	3896
3863		-	HB3467 ~~Engrossed~~ - 109 - LRB104 10334 BAB 20408 b
3864		-
3865		-
3866		-	HB3467 ~~Engrossed~~- 110 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 110 - LRB104 10334 BAB 20408 b
3867		-	HB3467 ~~Engrossed~~ - 110 - LRB104 10334 BAB 20408 b
	3897	+	HB3467 - 109 - LRB104 10334 BAB 20408 b
	3898	+
	3899	+
	3900	+	HB3467- 110 -LRB104 10334 BAB 20408 b HB3467 - 110 - LRB104 10334 BAB 20408 b
	3901	+	HB3467 - 110 - LRB104 10334 BAB 20408 b
3868	3902		1 a lawful subpoena, summons, warrant, citation to discover
3869	3903		2 assets, or court order that meets the requirements of
3870	3904		3 subsection (e) of this Section.
3871	3905		4 (e) A savings bank shall disclose financial records under
3872	3906		5 subsection (d) of this Section pursuant to a lawful subpoena,
3873	3907		6 summons, warrant, citation to discover assets, or court order
3874	3908		7 only after the savings bank sends a copy of the subpoena,
3875	3909		8 summons, warrant, citation to discover assets, or court order
3876	3910		9 to the person establishing the relationship with the savings
3877	3911		10 bank, if living, and otherwise, the person's personal
3878	3912		11 representative, if known, at the person's last known address
3879	3913		12 by first class mail, postage prepaid, through a third-party
3880	3914		13 commercial carrier or courier with delivery charge fully
3881	3915		14 prepaid, by hand delivery, or by electronic delivery at an
3882	3916		15 email address on file with the savings bank (if the person
3883	3917		16 establishing the relationship with the savings bank has
3884	3918		17 consented to receive electronic delivery and, if the person
3885	3919		18 establishing the relationship with the savings bank is a
3886	3920		19 consumer, the person has consented under the consumer consent
3887	3921		20 provisions set forth in Section 7001 of Title 15 of the United
3888	3922		21 States Code), unless the savings bank is specifically
3889	3923		22 prohibited from notifying the person by order of court or by
3890	3924		23 applicable State or federal law. A savings bank shall not mail
3891	3925		24 a copy of a subpoena to any customer pursuant to this
3892	3926		25 subsection if the subpoena was issued by a grand jury.
3893	3927		26 (f) Any officer or employee of a savings bank who
3894	3928
3895	3929
3896	3930
3897	3931
3898	3932
3899		-	HB3467 ~~Engrossed~~ - 110 - LRB104 10334 BAB 20408 b
3900		-
3901		-
3902		-	HB3467 ~~Engrossed~~- 111 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 111 - LRB104 10334 BAB 20408 b
3903		-	HB3467 ~~Engrossed~~ - 111 - LRB104 10334 BAB 20408 b
	3933	+	HB3467 - 110 - LRB104 10334 BAB 20408 b
	3934	+
	3935	+
	3936	+	HB3467- 111 -LRB104 10334 BAB 20408 b HB3467 - 111 - LRB104 10334 BAB 20408 b
	3937	+	HB3467 - 111 - LRB104 10334 BAB 20408 b
3904	3938		1 knowingly and willfully furnishes financial records in
3905	3939		2 violation of this Section is guilty of a business offense and,
3906	3940		3 upon conviction, shall be fined not more than $1,000.
3907	3941		4 (g) Any person who knowingly and willfully induces or
3908	3942		5 attempts to induce any officer or employee of a savings bank to
3909	3943		6 disclose financial records in violation of this Section is
3910	3944		7 guilty of a business offense and, upon conviction, shall be
3911	3945		8 fined not more than $1,000.
3912	3946		9 (h) If any member or shareholder desires to communicate
3913	3947		10 with the other members or shareholders of the savings bank
3914	3948		11 with reference to any question pending or to be presented at an
3915	3949		12 annual or special meeting, the savings bank shall give that
3916	3950		13 person, upon request, a statement of the approximate number of
3917	3951		14 members or shareholders entitled to vote at the meeting and an
3918	3952		15 estimate of the cost of preparing and delivering mailing the
3919	3953		16 communication. The requesting member shall submit the
3920	3954		17 communication to the Commissioner who, upon finding it to be
3921	3955		18 appropriate and truthful, shall direct that it be prepared and
3922	3956		19 delivered mailed to the members upon the requesting member's
3923	3957		20 or shareholder's payment or adequate provision for payment of
3924	3958		21 the expenses of preparation and delivery mailing.
3925	3959		22 (i) A savings bank shall be reimbursed for costs that are
3926	3960		23 necessary and that have been directly incurred in searching
3927	3961		24 for, reproducing, or transporting books, papers, records, or
3928	3962		25 other data of a customer required to be reproduced pursuant to
3929	3963		26 a lawful subpoena, warrant, citation to discover assets, or
3930	3964
3931	3965
3932	3966
3933	3967
3934	3968
3935		-	HB3467 ~~Engrossed~~ - 111 - LRB104 10334 BAB 20408 b
3936		-
3937		-
3938		-	HB3467 ~~Engrossed~~- 112 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 112 - LRB104 10334 BAB 20408 b
3939		-	HB3467 ~~Engrossed~~ - 112 - LRB104 10334 BAB 20408 b
	3969	+	HB3467 - 111 - LRB104 10334 BAB 20408 b
	3970	+
	3971	+
	3972	+	HB3467- 112 -LRB104 10334 BAB 20408 b HB3467 - 112 - LRB104 10334 BAB 20408 b
	3973	+	HB3467 - 112 - LRB104 10334 BAB 20408 b
3940	3974		1 court order.
3941	3975		2 (j) Notwithstanding the provisions of this Section, a
3942	3976		3 savings bank may sell or otherwise make use of lists of
3943	3977		4 customers' names and addresses of persons who have obtained a
3944	3978		5 financial product or service from the savings bank. All other
3945	3979		6 information regarding a customer's account is subject to the
3946	3980		7 disclosure provisions of this Section. At the request of any
3947	3981		8 person who has obtained a financial product or service from
3948	3982		9 the savings bank customer, that person's customer's name and
3949	3983		10 address shall be deleted from any list that is to be sold or
3950	3984		11 used in any other manner beyond identification of the person's
3951	3985		12 customer's accounts.
3952	3986		13 (Source: P.A. 102-873, eff. 5-13-22.)
3953	3987		14 (205 ILCS 205/6002) (from Ch. 17, par. 7306-2)
3954	3988		15 Sec. 6002. Investment in loans.
3955	3989		16 (a) Subject to the regulations of the Commissioner, a
3956	3990		17 savings bank may loan funds as follows:
3957	3991		18 (1) On the security of deposit accounts, but no such
3958	3992		19 loan shall exceed the withdrawal value of the pledged
3959	3993		20 account.
3960	3994		21 (2) On the security of real estate:
3961	3995		22 (A) of a value, determined in accordance with this
3962	3996		23 Act, sufficient to provide good and ample security for
3963	3997		24 the loan;
3964	3998		25 (B) with a fee simple title or a leasehold title;
3965	3999
3966	4000
3967	4001
3968	4002
3969	4003
3970		-	HB3467 ~~Engrossed~~ - 112 - LRB104 10334 BAB 20408 b
3971		-
3972		-
3973		-	HB3467 ~~Engrossed~~- 113 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 113 - LRB104 10334 BAB 20408 b
3974		-	HB3467 ~~Engrossed~~ - 113 - LRB104 10334 BAB 20408 b
	4004	+	HB3467 - 112 - LRB104 10334 BAB 20408 b
	4005	+
	4006	+
	4007	+	HB3467- 113 -LRB104 10334 BAB 20408 b HB3467 - 113 - LRB104 10334 BAB 20408 b
	4008	+	HB3467 - 113 - LRB104 10334 BAB 20408 b
3975	4009		1 (C) with the title established by evidence of
3976	4010		2 title as is consistent with sound lending practices in
3977	4011		3 the locality;
3978	4012		4 (D) with the security interest in the real estate
3979	4013		5 evidenced by an appropriate written instrument and the
3980	4014		6 loan evidenced by a note, bond, or similar written
3981	4015		7 instrument; a loan on the security of the whole of the
3982	4016		8 beneficial interest in a land trust satisfies the
3983	4017		9 requirements of this paragraph if the title to the
3984	4018		10 land is held by a corporate trustee and if the real
3985	4019		11 estate held in the land trust meets the other
3986	4020		12 requirements of this subsection;
3987	4021		13 (E) with a mortgage loan not to exceed 40 years.
3988	4022		14 (3) For the purpose of repair, improvement,
3989	4023		15 rehabilitation, furnishing, or equipment of real estate.
3990	4024		16 (4) For the purpose of financing or refinancing an
3991	4025		17 existing ownership interest in certificates of stock,
3992	4026		18 certificates of beneficial interest, other evidence of an
3993	4027		19 ownership interest in, or a proprietary lease from a
3994	4028		20 corporation, trust, or partnership formed for the purpose
3995	4029		21 of the cooperative ownership of real estate, secured by
3996	4030		22 the assignment or transfer of certificates or other
3997	4031		23 evidence of ownership of the borrower.
3998	4032		24 (5) Through the purchase of loans that, at the time of
3999	4033		25 purchase, the savings bank could make in accordance with
4000	4034		26 this Section and the bylaws.
4001	4035
4002	4036
4003	4037
4004	4038
4005	4039
4006		-	HB3467 ~~Engrossed~~ - 113 - LRB104 10334 BAB 20408 b
4007		-
4008		-
4009		-	HB3467 ~~Engrossed~~- 114 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 114 - LRB104 10334 BAB 20408 b
4010		-	HB3467 ~~Engrossed~~ - 114 - LRB104 10334 BAB 20408 b
	4040	+	HB3467 - 113 - LRB104 10334 BAB 20408 b
	4041	+
	4042	+
	4043	+	HB3467- 114 -LRB104 10334 BAB 20408 b HB3467 - 114 - LRB104 10334 BAB 20408 b
	4044	+	HB3467 - 114 - LRB104 10334 BAB 20408 b
4011	4045		1 (6) Through the purchase of installment contracts for
4012	4046		2 the sale of real estate and title thereto that is subject
4013	4047		3 to the contracts, but in each instance only if the savings
4014	4048		4 bank, at the time of purchase, could make a mortgage loan
4015	4049		5 of the same amount and for the same length of time on the
4016	4050		6 security of the real estate.
4017	4051		7 (7) Through loans guaranteed or insured, wholly or in
4018	4052		8 part, by the United States or any of its
4019	4053		9 instrumentalities.
4020	4054		10 (8) Subject to regulations adopted by the
4021	4055		11 Commissioner, through secured or unsecured loans for
4022	4056		12 business, corporate, commercial, or agricultural purposes;
4023	4057		13 provided that the total of all loans granted under this
4024	4058		14 paragraph shall not exceed 15% of the savings bank's total
4025	4059		15 assets unless a greater amount is authorized in writing by
4026	4060		16 the Commissioner.
4027	4061		17 (9) For the purpose of manufactured home financing
4028	4062		18 subject, however, to the regulation of the Commissioner.
4029	4063		19 As used in this Section, "manufactured home" means a
4030	4064		20 manufactured home as defined in subdivision (53) of
4031	4065		21 Section 9-102 of the Uniform Commercial Code.
4032	4066		22 (10) Through loans secured by the cash surrender value
4033	4067		23 of any life insurance policy or any collateral that would
4034	4068		24 be a legal investment under the terms of this Act if made
4035	4069		25 by the savings bank.
4036	4070		26 (11) Any provision of this Act or any other law,
4037	4071
4038	4072
4039	4073
4040	4074
4041	4075
4042		-	HB3467 ~~Engrossed~~ - 114 - LRB104 10334 BAB 20408 b
4043		-
4044		-
4045		-	HB3467 ~~Engrossed~~- 115 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 115 - LRB104 10334 BAB 20408 b
4046		-	HB3467 ~~Engrossed~~ - 115 - LRB104 10334 BAB 20408 b
	4076	+	HB3467 - 114 - LRB104 10334 BAB 20408 b
	4077	+
	4078	+
	4079	+	HB3467- 115 -LRB104 10334 BAB 20408 b HB3467 - 115 - LRB104 10334 BAB 20408 b
	4080	+	HB3467 - 115 - LRB104 10334 BAB 20408 b
4047	4081		1 except for paragraph (18) of Section 6003, to the contrary
4048	4082		2 notwithstanding, but subject to the Financial Institutions
4049	4083		3 Insurance Sales Law and subject to the Commissioner's
4050	4084		4 regulations, any savings bank may make any loan or
4051	4085		5 investment or engage in any activity that it could make or
4052	4086		6 engage in if it were organized under State law as a savings
4053	4087		7 and loan association or under federal law as a federal
4054	4088		8 savings and loan association or federal savings bank.
4055	4089		9 (12) A savings bank may issue letters of credit or
4056	4090		10 other similar arrangements only as provided for by
4057	4091		11 regulation of the Commissioner with regard to aggregate
4058	4092		12 amounts permitted, take out commitments for stand-by
4059	4093		13 letters of credit, underlying documentation and
4060	4094		14 underwriting, legal limitations on loans of the savings
4061	4095		15 bank, control and subsidiary records, and other procedures
4062	4096		16 deemed necessary by the Commissioner.
4063	4097		17 (13) For the purpose of automobile financing, subject
4064	4098		18 to the regulation of the Commissioner.
4065	4099		19 (14) For the purpose of financing primary, secondary,
4066	4100		20 undergraduate, or postgraduate education.
4067	4101		21 (15) Through revolving lines of credit on the security
4068	4102		22 of a first or junior lien on the borrower's personal
4069	4103		23 residence, based primarily on the borrower's equity, the
4070	4104		24 proceeds of which may be used for any purpose; those loans
4071	4105		25 being commonly referred to as home equity loans.
4072	4106		26 (16) As secured or unsecured credit to cover the
4073	4107
4074	4108
4075	4109
4076	4110
4077	4111
4078		-	HB3467 ~~Engrossed~~ - 115 - LRB104 10334 BAB 20408 b
4079		-
4080		-
4081		-	HB3467 ~~Engrossed~~- 116 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 116 - LRB104 10334 BAB 20408 b
4082		-	HB3467 ~~Engrossed~~ - 116 - LRB104 10334 BAB 20408 b
	4112	+	HB3467 - 115 - LRB104 10334 BAB 20408 b
	4113	+
	4114	+
	4115	+	HB3467- 116 -LRB104 10334 BAB 20408 b HB3467 - 116 - LRB104 10334 BAB 20408 b
	4116	+	HB3467 - 116 - LRB104 10334 BAB 20408 b
4083	4117		1 payment of checks, drafts, or other funds transfer orders
4084	4118		2 in excess of the available balance of an account on which
4085	4119		3 they are drawn, subject to the regulations of the
4086	4120		4 Commissioner.
4087	4121		5 (17) Through the purchase of fixed rate annuity
4088	4122		6 contracts, if:
4089	4123		7 (A) the savings bank's purchase of fixed rate
4090	4124		8 annuities from any one issuer does not exceed 25% of
4091	4125		9 the amount of the savings bank's unimpaired capital
4092	4126		10 and unimpaired surplus;
4093	4127		11 (B) consistent with safe and sound operation of
4094	4128		12 the savings bank and applicable federal regulatory
4095	4129		13 guidance, and prior to any purchase of fixed rate
4096	4130		14 annuities, the saving bank establishes reasonable
4097	4131		15 internal concentration limits for its combined
4098	4132		16 holdings from all issuers, and the savings bank's
4099	4133		17 purchase of annuities remains within those limits;
4100	4134		18 (C) consistent with safe and sound operation of
4101	4135		19 the savings bank and applicable federal regulatory
4102	4136		20 guidance, and prior to purchasing each fixed rate
4103	4137		21 annuity, the savings bank conducts an independent
4104	4138		22 analysis to determine that the annuity will meet the
4105	4139		23 savings bank's internal underwriting standards. At a
4106	4140		24 minimum, the savings bank must:
4107	4141		25 (i) perform a full financial statement
4108	4142		26 analysis on the issuer (obligor);
4109	4143
4110	4144
4111	4145
4112	4146
4113	4147
4114		-	HB3467 ~~Engrossed~~ - 116 - LRB104 10334 BAB 20408 b
4115		-
4116		-
4117		-	HB3467 ~~Engrossed~~- 117 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 117 - LRB104 10334 BAB 20408 b
4118		-	HB3467 ~~Engrossed~~ - 117 - LRB104 10334 BAB 20408 b
	4148	+	HB3467 - 116 - LRB104 10334 BAB 20408 b
	4149	+
	4150	+
	4151	+	HB3467- 117 -LRB104 10334 BAB 20408 b HB3467 - 117 - LRB104 10334 BAB 20408 b
	4152	+	HB3467 - 117 - LRB104 10334 BAB 20408 b
4119	4153		1 (ii) assess the issuer's industry position,
4120	4154		2 pricing power, and management strength;
4121	4155		3 (iii) assess and evaluate the issuer's source
4122	4156		4 of repayment and collateral value, if any;
4123	4157		5 (iv) gain appropriate credit approvals of the
4124	4158		6 savings bank's management and board of directors,
4125	4159		7 or a committee thereof;
4126	4160		8 (v) assign a risk rating; and
4127	4161		9 (vi) ensure their lending policy addresses the
4128	4162		10 type of exposure the savings bank plans to
4129	4163		11 acquire;
4130	4164		12 (D) after purchase of the annuity, the savings
4131	4165		13 bank reviews the credit exposure on an ongoing basis
4132	4166		14 and updates the risk rating as appropriate;
4133	4167		15 (E) the terms of the annuity contract include
4134	4168		16 charges or penalties for early withdrawal (surrender),
4135	4169		17 the savings bank conducts independent analysis of the
4136	4170		18 reasonableness of and associated risks of the charges
4137	4171		19 or penalties;
4138	4172		20 (F) except for payment of charges or penalties
4139	4173		21 that the savings bank determines reasonable under
4140	4174		22 subparagraph (C), the savings bank is permitted to
4141	4175		23 surrender (terminate) the annuity at any time before
4142	4176		24 maturity and receive immediate access to the full
4143	4177		25 value of the annuity, including principal and accrued
4144	4178		26 interest; and
4145	4179
4146	4180
4147	4181
4148	4182
4149	4183
4150		-	HB3467 ~~Engrossed~~ - 117 - LRB104 10334 BAB 20408 b
4151		-
4152		-
4153		-	HB3467 ~~Engrossed~~- 118 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 118 - LRB104 10334 BAB 20408 b
4154		-	HB3467 ~~Engrossed~~ - 118 - LRB104 10334 BAB 20408 b
	4184	+	HB3467 - 117 - LRB104 10334 BAB 20408 b
	4185	+
	4186	+
	4187	+	HB3467- 118 -LRB104 10334 BAB 20408 b HB3467 - 118 - LRB104 10334 BAB 20408 b
	4188	+	HB3467 - 118 - LRB104 10334 BAB 20408 b
4155	4189		1 (G) the savings bank does not exercise any option
4156	4190		2 it may have to convert its fixed rate annuity to a
4157	4191		3 variable return status or any other status other than
4158	4192		4 a fixed rate annuity as described in this Section.
4159	4193		5 (b) For purposes of this Section, "real estate" includes a
4160	4194		6 manufactured home as defined in subdivision (53) of Section
4161	4195		7 9-102 of the Uniform Commercial Code which is real property as
4162	4196		8 defined in Section 5-35 of the Conveyance and Encumbrance of
4163	4197		9 Manufactured Homes as Real Property and Severance Act.
4164	4198		10 (Source: P.A. 98-749, eff. 7-16-14.)
4165	4199		11 (205 ILCS 205/7005) (from Ch. 17, par. 7307-5)
4166	4200		12 Sec. 7005. Holders of deposit accounts.
4167	4201		13 (a) Deposit accounts of a savings bank may be held as
4168	4202		14 follows:
4169	4203		15 (1) by any individual in his own right, regardless of
4170	4204		16 age or marital status, or by 2 or more individuals;
4171	4205		17 (2) by a fiduciary when authorized by law;
4172	4206		18 (3) by a government or governmental instrumentality
4173	4207		19 when authorized by law; and
4174	4208		20 (4) by any corporation or other person when not
4175	4209		21 prohibited by law.
4176	4210		22 (b) A savings bank may accept deposits made by a minor and
4177	4211		23 may open an account in the name of the minor, and the rules and
4178	4212		24 regulations of the savings bank with respect to each deposit
4179	4213		25 and account of the minor shall be as binding upon the minor as
4180	4214
4181	4215
4182	4216
4183	4217
4184	4218
4185		-	HB3467 ~~Engrossed~~ - 118 - LRB104 10334 BAB 20408 b
4186		-
4187		-
4188		-	HB3467 ~~Engrossed~~- 119 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 119 - LRB104 10334 BAB 20408 b
4189		-	HB3467 ~~Engrossed~~ - 119 - LRB104 10334 BAB 20408 b
	4219	+	HB3467 - 118 - LRB104 10334 BAB 20408 b
	4220	+
	4221	+
	4222	+	HB3467- 119 -LRB104 10334 BAB 20408 b HB3467 - 119 - LRB104 10334 BAB 20408 b
	4223	+	HB3467 - 119 - LRB104 10334 BAB 20408 b
4190	4224		1 if the minor were of full age and legal capacity. The receipt,
4191	4225		2 acquittance, or order of payment of the minor on such account
4192	4226		3 or deposit or any part thereof shall be as binding upon the
4193	4227		4 minor as if the minor were of full age and legal capacity.
4194	4228		5 (Source: P.A. 86-1213.)
4195	4229		6 (205 ILCS 205/8002) (from Ch. 17, par. 7308-2)
4196	4230		7 Sec. 8002. Procedure to amend articles.
4197	4231		8 (a) The procedure to effect an amendment of articles of
4198	4232		9 incorporation shall be as follows:
4199	4233		10 (1) The board of directors shall adopt a resolution
4200	4234		11 setting forth the proposed amendment and direct that it be
4201	4235		12 submitted to a vote at an annual or special meeting of the
4202	4236		13 members or stockholders.
4203	4237		14 (2) The proposed amendment shall be set forth in the
4204	4238		15 notice of meeting delivered mailed as prescribed in
4205	4239		16 Section 4003 of this Act.
4206	4240		17 (3) The proposed amendment shall be adopted upon
4207	4241		18 receiving the affirmative vote of a majority of the votes
4208	4242		19 entitled to be cast, unless the articles of incorporation
4209	4243		20 set forth a requirement that amendments of the articles of
4210	4244		21 incorporation shall be adopted by an affirmative vote of
4211	4245		22 two-thirds of the total number of votes entitled to be
4212	4246		23 cast.
4213	4247		24 (b) A report of proceedings, including the notice given,
4214	4248		25 the time of delivery mailing, the amendment adopted, the vote
4215	4249
4216	4250
4217	4251
4218	4252
4219	4253
4220		-	HB3467 ~~Engrossed~~ - 119 - LRB104 10334 BAB 20408 b
4221		-
4222		-
4223		-	HB3467 ~~Engrossed~~- 120 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 120 - LRB104 10334 BAB 20408 b
4224		-	HB3467 ~~Engrossed~~ - 120 - LRB104 10334 BAB 20408 b
	4254	+	HB3467 - 119 - LRB104 10334 BAB 20408 b
	4255	+
	4256	+
	4257	+	HB3467- 120 -LRB104 10334 BAB 20408 b HB3467 - 120 - LRB104 10334 BAB 20408 b
	4258	+	HB3467 - 120 - LRB104 10334 BAB 20408 b
4225	4259		1 thereon, and the total number of votes entitled to be cast,
4226	4260		2 verified by the president, vice president, or managing officer
4227	4261		3 and attested to by the secretary of the savings bank, shall be
4228	4262		4 filed with the Secretary within 5 business days after the
4229	4263		5 vote.
4230	4264		6 (c) Each adopted amendment shall be subject to the same
4231	4265		7 inquiry as the corresponding provision in the original
4232	4266		8 articles. If the Secretary approves an amendment he shall
4233	4267		9 issue to the savings bank a certificate setting forth the
4234	4268		10 amendment and his approval thereof. The Secretary shall
4235	4269		11 approve an amendment, or state any objections to an amendment,
4236	4270		12 within 30 days after the receipt of the amendment adopted by
4237	4271		13 the board. If no objections are specified by the Secretary
4238	4272		14 within that time frame, the amendment will be deemed to be
4239	4273		15 approved by the Secretary. The amendment shall become
4240	4274		16 effective upon issuance of the certificate.
4241	4275		17 (d) An amendment of the articles of incorporation approved
4242	4276		18 by the board of directors, the Secretary, and members as part
4243	4277		19 of merger, sale of substantially all assets, change in
4244	4278		20 control, holding company reorganization, or mutual to stock
4245	4279		21 form conversion need not be approved under this Section.
4246	4280		22 (e) No amendment of articles of incorporation shall affect
4247	4281		23 any existing cause of action either in favor of or against the
4248	4282		24 savings bank or any pending action in which the savings bank
4249	4283		25 shall be a party or the existing rights of persons other than
4250	4284		26 members of the savings bank.
4251	4285
4252	4286
4253	4287
4254	4288
4255	4289
4256		-	HB3467 ~~Engrossed~~ - 120 - LRB104 10334 BAB 20408 b
4257		-
4258		-
4259		-	HB3467 ~~Engrossed~~- 121 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 121 - LRB104 10334 BAB 20408 b
4260		-	HB3467 ~~Engrossed~~ - 121 - LRB104 10334 BAB 20408 b
	4290	+	HB3467 - 120 - LRB104 10334 BAB 20408 b
	4291	+
	4292	+
	4293	+	HB3467- 121 -LRB104 10334 BAB 20408 b HB3467 - 121 - LRB104 10334 BAB 20408 b
	4294	+	HB3467 - 121 - LRB104 10334 BAB 20408 b
4261	4295		1 (Source: P.A. 97-492, eff. 1-1-12.)
4262	4296		2 (205 ILCS 205/11008) (from Ch. 17, par. 7311-8)
4263	4297		3 Sec. 11008. Unauthorized participation by convicted
4264	4298		4 individual.
4265	4299		5 (a) Except with the prior written consent of the
4266	4300		6 Commissioner, no person who has been convicted of any criminal
4267	4301		7 offense involving dishonesty or a breach of trust may own or
4268	4302		8 control directly or indirectly more than 0.001% of the capital
4269	4303		9 stock of, receive benefit directly or indirectly from, or
4270	4304		10 participate directly or indirectly in any manner in the
4271	4305		11 affairs of a savings bank.
4272	4306		12 (b) A savings bank may not permit participation by a
4273	4307		13 person described in subsection (a).
4274	4308		14 (c) Except with the prior written consent of the
4275	4309		15 Secretary, no savings bank shall knowingly employ or otherwise
4276	4310		16 permit an individual to serve as an officer, director,
4277	4311		17 employee, or agent of the savings bank if the individual has
4278	4312		18 been convicted of a felony or of any criminal offense relating
4279	4313		19 to dishonesty or breach of trust. Notwithstanding the
4280	4314		20 provisions of this Section, a savings bank in compliance with
4281	4315		21 the provisions of 12 U.S.C. 1829 and administrative
4282	4316		22 regulations issued under 12 U.S.C. 1829 by the savings bank's
4283	4317		23 primary federal financial institution regulator shall be
4284	4318		24 deemed in compliance with this Section.
4285	4319		25 (d) Whoever knowingly violates subsection (a), or (b), or
4286	4320
4287	4321
4288	4322
4289	4323
4290	4324
4291		-	HB3467 ~~Engrossed~~ - 121 - LRB104 10334 BAB 20408 b
4292		-
4293		-
4294		-	HB3467 ~~Engrossed~~- 122 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 122 - LRB104 10334 BAB 20408 b
4295		-	HB3467 ~~Engrossed~~ - 122 - LRB104 10334 BAB 20408 b
	4325	+	HB3467 - 121 - LRB104 10334 BAB 20408 b
	4326	+
	4327	+
	4328	+	HB3467- 122 -LRB104 10334 BAB 20408 b HB3467 - 122 - LRB104 10334 BAB 20408 b
	4329	+	HB3467 - 122 - LRB104 10334 BAB 20408 b
4296	4330		1 (c) is guilty of a Class 3 felony and may be fined not more
4297	4331		2 than $10,000 for each day of violation.
4298	4332		3 (Source: P.A. 91-97, eff. 7-9-99; 92-483, eff. 8-23-01.)
4299	4333		4 (205 ILCS 205/1007.100 rep.)
4300	4334		5 (205 ILCS 205/11011 rep.)
4301	4335		6 Section 15. The Savings Bank Act is amended by repealing
4302	4336		7 Sections 1007.100 and 11011.
4303	4337		8 Section 20. The Illinois Credit Union Act is amended by
4304	4338		9 changing Section 10 as follows:
4305	4339		10 (205 ILCS 305/10) (from Ch. 17, par. 4411)
4306	4340		11 Sec. 10. Credit union records; member financial records.
4307	4341		12 (1) A credit union shall establish and maintain books,
4308	4342		13 records, accounting systems and procedures which accurately
4309	4343		14 reflect its operations and which enable the Department to
4310	4344		15 readily ascertain the true financial condition of the credit
4311	4345		16 union and whether it is complying with this Act.
4312	4346		17 (2) A photostatic or photographic reproduction of any
4313	4347		18 credit union records shall be admissible as evidence of
4314	4348		19 transactions with the credit union.
4315	4349		20 (3)(a) For the purpose of this Section, the term
4316	4350		21 "financial records" means any original, any copy, or any
4317	4351		22 summary of (1) a document granting signature authority over an
4318	4352		23 account, (2) a statement, ledger card or other record on any
4319	4353
4320	4354
4321	4355
4322	4356
4323	4357
4324		-	HB3467 ~~Engrossed~~ - 122 - LRB104 10334 BAB 20408 b
4325		-
4326		-
4327		-	HB3467 ~~Engrossed~~- 123 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 123 - LRB104 10334 BAB 20408 b
4328		-	HB3467 ~~Engrossed~~ - 123 - LRB104 10334 BAB 20408 b
	4358	+	HB3467 - 122 - LRB104 10334 BAB 20408 b
	4359	+
	4360	+
	4361	+	HB3467- 123 -LRB104 10334 BAB 20408 b HB3467 - 123 - LRB104 10334 BAB 20408 b
	4362	+	HB3467 - 123 - LRB104 10334 BAB 20408 b
4329	4363		1 account which shows each transaction in or with respect to
4330	4364		2 that account, (3) a check, draft or money order drawn on a
4331	4365		3 financial institution or other entity or issued and payable by
4332	4366		4 or through a financial institution or other entity, or (4) any
4333	4367		5 other item containing information pertaining to any
4334	4368		6 relationship established in the ordinary course of business
4335	4369		7 between a credit union and its member, including financial
4336	4370		8 statements or other financial information provided by the
4337	4371		9 member.
4338	4372		10 (b) This Section does not prohibit:
4339	4373		11 (1) The preparation, examination, handling or
4340	4374		12 maintenance of any financial records by any officer,
4341	4375		13 employee or agent of a credit union having custody of such
4342	4376		14 records, or the examination of such records by a certified
4343	4377		15 public accountant engaged by the credit union to perform
4344	4378		16 an independent audit.
4345	4379		17 (2) The examination of any financial records by or the
4346	4380		18 furnishing of financial records by a credit union to any
4347	4381		19 officer, employee or agent of the Department, the National
4348	4382		20 Credit Union Administration, Federal Reserve board or any
4349	4383		21 insurer of share accounts for use solely in the exercise
4350	4384		22 of his duties as an officer, employee or agent.
4351	4385		23 (3) The publication of data furnished from financial
4352	4386		24 records relating to members where the data cannot be
4353	4387		25 identified to any particular member or customer of
4354	4388		26 account.
4355	4389
4356	4390
4357	4391
4358	4392
4359	4393
4360		-	HB3467 ~~Engrossed~~ - 123 - LRB104 10334 BAB 20408 b
4361		-
4362		-
4363		-	HB3467 ~~Engrossed~~- 124 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 124 - LRB104 10334 BAB 20408 b
4364		-	HB3467 ~~Engrossed~~ - 124 - LRB104 10334 BAB 20408 b
	4394	+	HB3467 - 123 - LRB104 10334 BAB 20408 b
	4395	+
	4396	+
	4397	+	HB3467- 124 -LRB104 10334 BAB 20408 b HB3467 - 124 - LRB104 10334 BAB 20408 b
	4398	+	HB3467 - 124 - LRB104 10334 BAB 20408 b
4365	4399		1 (4) The making of reports or returns required under
4366	4400		2 Chapter 61 of the Internal Revenue Code of 1954.
4367	4401		3 (5) Furnishing information concerning the dishonor of
4368	4402		4 any negotiable instrument permitted to be disclosed under
4369	4403		5 the Uniform Commercial Code.
4370	4404		6 (6) The exchange in the regular course of business of
4371	4405		7 (i) credit information between a credit union and other
4372	4406		8 credit unions or financial institutions or commercial
4373	4407		9 enterprises, directly or through a consumer reporting
4374	4408		10 agency or (ii) financial records or information derived
4375	4409		11 from financial records between a credit union and other
4376	4410		12 credit unions or financial institutions or commercial
4377	4411		13 enterprises for the purpose of conducting due diligence
4378	4412		14 pursuant to a merger or a purchase or sale of assets or
4379	4413		15 liabilities of the credit union.
4380	4414		16 (7) The furnishing of information to the appropriate
4381	4415		17 law enforcement authorities where the credit union
4382	4416		18 reasonably believes it has been the victim of a crime.
4383	4417		19 (8) The furnishing of information pursuant to the
4384	4418		20 Revised Uniform Unclaimed Property Act.
4385	4419		21 (9) The furnishing of information pursuant to the
4386	4420		22 Illinois Income Tax Act and the Illinois Estate and
4387	4421		23 Generation-Skipping Transfer Tax Act.
4388	4422		24 (10) The furnishing of information pursuant to the
4389	4423		25 federal Currency and Foreign Transactions Reporting Act,
4390	4424		26 Title 31, United States Code, Section 1051 et sequentia.
4391	4425
4392	4426
4393	4427
4394	4428
4395	4429
4396		-	HB3467 ~~Engrossed~~ - 124 - LRB104 10334 BAB 20408 b
4397		-
4398		-
4399		-	HB3467 ~~Engrossed~~- 125 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 125 - LRB104 10334 BAB 20408 b
4400		-	HB3467 ~~Engrossed~~ - 125 - LRB104 10334 BAB 20408 b
	4430	+	HB3467 - 124 - LRB104 10334 BAB 20408 b
	4431	+
	4432	+
	4433	+	HB3467- 125 -LRB104 10334 BAB 20408 b HB3467 - 125 - LRB104 10334 BAB 20408 b
	4434	+	HB3467 - 125 - LRB104 10334 BAB 20408 b
4401	4435		1 (11) The furnishing of information pursuant to any
4402	4436		2 other statute which by its terms or by regulations
4403	4437		3 promulgated thereunder requires the disclosure of
4404	4438		4 financial records other than by subpoena, summons, warrant
4405	4439		5 or court order.
4406	4440		6 (12) The furnishing of information in accordance with
4407	4441		7 the federal Personal Responsibility and Work Opportunity
4408	4442		8 Reconciliation Act of 1996. Any credit union governed by
4409	4443		9 this Act shall enter into an agreement for data exchanges
4410	4444		10 with a State agency provided the State agency pays to the
4411	4445		11 credit union a reasonable fee not to exceed its actual
4412	4446		12 cost incurred. A credit union providing information in
4413	4447		13 accordance with this item shall not be liable to any
4414	4448		14 account holder or other person for any disclosure of
4415	4449		15 information to a State agency, for encumbering or
4416	4450		16 surrendering any assets held by the credit union in
4417	4451		17 response to a lien or order to withhold and deliver issued
4418	4452		18 by a State agency, or for any other action taken pursuant
4419	4453		19 to this item, including individual or mechanical errors,
4420	4454		20 provided the action does not constitute gross negligence
4421	4455		21 or willful misconduct. A credit union shall have no
4422	4456		22 obligation to hold, encumber, or surrender assets until it
4423	4457		23 has been served with a subpoena, summons, warrant, court
4424	4458		24 or administrative order, lien, or levy.
4425	4459		25 (13) The furnishing of information to law enforcement
4426	4460		26 authorities, the Illinois Department on Aging and its
4427	4461
4428	4462
4429	4463
4430	4464
4431	4465
4432		-	HB3467 ~~Engrossed~~ - 125 - LRB104 10334 BAB 20408 b
4433		-
4434		-
4435		-	HB3467 ~~Engrossed~~- 126 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 126 - LRB104 10334 BAB 20408 b
4436		-	HB3467 ~~Engrossed~~ - 126 - LRB104 10334 BAB 20408 b
	4466	+	HB3467 - 125 - LRB104 10334 BAB 20408 b
	4467	+
	4468	+
	4469	+	HB3467- 126 -LRB104 10334 BAB 20408 b HB3467 - 126 - LRB104 10334 BAB 20408 b
	4470	+	HB3467 - 126 - LRB104 10334 BAB 20408 b
4437	4471		1 regional administrative and provider agencies, the
4438	4472		2 Department of Human Services Office of Inspector General,
4439	4473		3 or public guardians: (i) upon subpoena by the
4440	4474		4 investigatory entity or the guardian, or (ii) if there is
4441	4475		5 suspicion by the credit union that a member who is an
4442	4476		6 elderly person or person with a disability has been or may
4443	4477		7 become the victim of financial exploitation. For the
4444	4478		8 purposes of this item (13), the term: (i) "elderly person"
4445	4479		9 means a person who is 60 or more years of age, (ii) "person
4446	4480		10 with a disability" means a person who has or reasonably
4447	4481		11 appears to the credit union to have a physical or mental
4448	4482		12 disability that impairs his or her ability to seek or
4449	4483		13 obtain protection from or prevent financial exploitation,
4450	4484		14 and (iii) "financial exploitation" means tortious or
4451	4485		15 illegal use of the assets or resources of an elderly
4452	4486		16 person or person with a disability, and includes, without
4453	4487		17 limitation, misappropriation of the elderly or disabled
4454	4488		18 person's assets or resources of the elderly person or
4455	4489		19 person with a disability by undue influence, breach of
4456	4490		20 fiduciary relationship, intimidation, fraud, deception,
4457	4491		21 extortion, or the use of assets or resources in any manner
4458	4492		22 contrary to law. A credit union or person furnishing
4459	4493		23 information pursuant to this item (13) shall be entitled
4460	4494		24 to the same rights and protections as a person furnishing
4461	4495		25 information under the Adult Protective Services Act and
4462	4496		26 the Illinois Domestic Violence Act of 1986.
4463	4497
4464	4498
4465	4499
4466	4500
4467	4501
4468		-	HB3467 ~~Engrossed~~ - 126 - LRB104 10334 BAB 20408 b
4469		-
4470		-
4471		-	HB3467 ~~Engrossed~~- 127 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 127 - LRB104 10334 BAB 20408 b
4472		-	HB3467 ~~Engrossed~~ - 127 - LRB104 10334 BAB 20408 b
	4502	+	HB3467 - 126 - LRB104 10334 BAB 20408 b
	4503	+
	4504	+
	4505	+	HB3467- 127 -LRB104 10334 BAB 20408 b HB3467 - 127 - LRB104 10334 BAB 20408 b
	4506	+	HB3467 - 127 - LRB104 10334 BAB 20408 b
4473	4507		1 (14) The disclosure of financial records or
4474	4508		2 information as necessary to effect, administer, or enforce
4475	4509		3 a transaction requested or authorized by the member, or in
4476	4510		4 connection with:
4477	4511		5 (A) servicing or processing a financial product or
4478	4512		6 service requested or authorized by the member;
4479	4513		7 (B) maintaining or servicing a member's account
4480	4514		8 with the credit union; or
4481	4515		9 (C) a proposed or actual securitization or
4482	4516		10 secondary market sale (including sales of servicing
4483	4517		11 rights) related to a transaction of a member.
4484	4518		12 Nothing in this item (14), however, authorizes the
4485	4519		13 sale of the financial records or information of a member
4486	4520		14 without the consent of the member.
4487	4521		15 (15) The disclosure of financial records or
4488	4522		16 information as necessary to protect against or prevent
4489	4523		17 actual or potential fraud, unauthorized transactions,
4490	4524		18 claims, or other liability.
4491	4525		19 (16)(a) The disclosure of financial records or
4492	4526		20 information related to a private label credit program
4493	4527		21 between a financial institution and a private label party
4494	4528		22 in connection with that private label credit program. Such
4495	4529		23 information is limited to outstanding balance, available
4496	4530		24 credit, payment and performance and account history,
4497	4531		25 product references, purchase information, and information
4498	4532		26 related to the identity of the customer.
4499	4533
4500	4534
4501	4535
4502	4536
4503	4537
4504		-	HB3467 ~~Engrossed~~ - 127 - LRB104 10334 BAB 20408 b
4505		-
4506		-
4507		-	HB3467 ~~Engrossed~~- 128 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 128 - LRB104 10334 BAB 20408 b
4508		-	HB3467 ~~Engrossed~~ - 128 - LRB104 10334 BAB 20408 b
	4538	+	HB3467 - 127 - LRB104 10334 BAB 20408 b
	4539	+
	4540	+
	4541	+	HB3467- 128 -LRB104 10334 BAB 20408 b HB3467 - 128 - LRB104 10334 BAB 20408 b
	4542	+	HB3467 - 128 - LRB104 10334 BAB 20408 b
4509	4543		1 (b)(1) For purposes of this item (16), "private label
4510	4544		2 credit program" means a credit program involving a
4511	4545		3 financial institution and a private label party that is
4512	4546		4 used by a customer of the financial institution and the
4513	4547		5 private label party primarily for payment for goods or
4514	4548		6 services sold, manufactured, or distributed by a private
4515	4549		7 label party.
4516	4550		8 (2) For purposes of this item (16), "private label
4517	4551		9 party" means, with respect to a private label credit
4518	4552		10 program, any of the following: a retailer, a merchant, a
4519	4553		11 manufacturer, a trade group, or any such person's
4520	4554		12 affiliate, subsidiary, member, agent, or service provider.
4521	4555		13 (17)(a) The furnishing of financial records of a
4522	4556		14 member to the Department to aid the Department's initial
4523	4557		15 determination or subsequent re-determination of the
4524	4558		16 member's eligibility for Medicaid and Medicaid long-term
4525	4559		17 care benefits for long-term care services, provided that
4526	4560		18 the credit union receives the written consent and
4527	4561		19 authorization of the member, which shall:
4528	4562		20 (1) have the member's signature notarized;
4529	4563		21 (2) be signed by at least one witness who
4530	4564		22 certifies that he or she believes the member to be of
4531	4565		23 sound mind and memory;
4532	4566		24 (3) be tendered to the credit union at the
4533	4567		25 earliest practicable time following its execution,
4534	4568		26 certification, and notarization;
4535	4569
4536	4570
4537	4571
4538	4572
4539	4573
4540		-	HB3467 ~~Engrossed~~ - 128 - LRB104 10334 BAB 20408 b
4541		-
4542		-
4543		-	HB3467 ~~Engrossed~~- 129 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 129 - LRB104 10334 BAB 20408 b
4544		-	HB3467 ~~Engrossed~~ - 129 - LRB104 10334 BAB 20408 b
	4574	+	HB3467 - 128 - LRB104 10334 BAB 20408 b
	4575	+
	4576	+
	4577	+	HB3467- 129 -LRB104 10334 BAB 20408 b HB3467 - 129 - LRB104 10334 BAB 20408 b
	4578	+	HB3467 - 129 - LRB104 10334 BAB 20408 b
4545	4579		1 (4) specifically limit the disclosure of the
4546	4580		2 member's financial records to the Department; and
4547	4581		3 (5) be in substantially the following form:
4548	4582		4 CUSTOMER CONSENT AND AUTHORIZATION
4549	4583		5 FOR RELEASE OF FINANCIAL RECORDS
4550	4584		6 I, ......................................., hereby authorize
4551	4585		7 (Name of Customer)
4552	4586		8 .............................................................
4553	4587		9 (Name of Financial Institution)
4554	4588		10 .............................................................
4555	4589		11 (Address of Financial Institution)
4556	4590		12 to disclose the following financial records:
4557	4591		13 any and all information concerning my deposit, savings, money
4558	4592		14 market, certificate of deposit, individual retirement,
4559	4593		15 retirement plan, 401(k) plan, incentive plan, employee benefit
4560	4594		16 plan, mutual fund and loan accounts (including, but not
4561	4595		17 limited to, any indebtedness or obligation for which I am a
4562	4596		18 co-borrower, co-obligor, guarantor, or surety), and any and
4563	4597		19 all other accounts in which I have an interest and any other
4564	4598		20 information regarding me in the possession of the Financial
4565	4599
4566	4600
4567	4601
4568	4602
4569	4603
4570		-	HB3467 ~~Engrossed~~ - 129 - LRB104 10334 BAB 20408 b
4571		-
4572		-
4573		-	HB3467 ~~Engrossed~~- 130 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 130 - LRB104 10334 BAB 20408 b
4574		-	HB3467 ~~Engrossed~~ - 130 - LRB104 10334 BAB 20408 b
	4604	+	HB3467 - 129 - LRB104 10334 BAB 20408 b
	4605	+
	4606	+
	4607	+	HB3467- 130 -LRB104 10334 BAB 20408 b HB3467 - 130 - LRB104 10334 BAB 20408 b
	4608	+	HB3467 - 130 - LRB104 10334 BAB 20408 b
4575	4609		1 Institution,
4576	4610		2 to the Illinois Department of Human Services or the Illinois
4577	4611		3 Department of Healthcare and Family Services, or both ("the
4578	4612		4 Department"), for the following purpose(s):
4579	4613		5 to aid in the initial determination or re-determination by the
4580	4614		6 State of Illinois of my eligibility for Medicaid long-term
4581	4615		7 care benefits, pursuant to applicable law.
4582	4616		8 I understand that this Consent and Authorization may be
4583	4617		9 revoked by me in writing at any time before my financial
4584	4618		10 records, as described above, are disclosed, and that this
4585	4619		11 Consent and Authorization is valid until the Financial
4586	4620		12 Institution receives my written revocation. This Consent and
4587	4621		13 Authorization shall constitute valid authorization for the
4588	4622		14 Department identified above to inspect all such financial
4589	4623		15 records set forth above, and to request and receive copies of
4590	4624		16 such financial records from the Financial Institution (subject
4591	4625		17 to such records search and reproduction reimbursement policies
4592	4626		18 as the Financial Institution may have in place). An executed
4593	4627		19 copy of this Consent and Authorization shall be sufficient and
4594	4628		20 as good as the original and permission is hereby granted to
4595	4629		21 honor a photostatic or electronic copy of this Consent and
4596	4630		22 Authorization. Disclosure is strictly limited to the
4597	4631		23 Department identified above and no other person or entity
4598	4632
4599	4633
4600	4634
4601	4635
4602	4636
4603		-	HB3467 ~~Engrossed~~ - 130 - LRB104 10334 BAB 20408 b
4604		-
4605		-
4606		-	HB3467 ~~Engrossed~~- 131 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 131 - LRB104 10334 BAB 20408 b
4607		-	HB3467 ~~Engrossed~~ - 131 - LRB104 10334 BAB 20408 b
	4637	+	HB3467 - 130 - LRB104 10334 BAB 20408 b
	4638	+
	4639	+
	4640	+	HB3467- 131 -LRB104 10334 BAB 20408 b HB3467 - 131 - LRB104 10334 BAB 20408 b
	4641	+	HB3467 - 131 - LRB104 10334 BAB 20408 b
4608	4642		1 shall receive my financial records pursuant to this Consent
4609	4643		2 and Authorization. By signing this form, I agree to indemnify
4610	4644		3 and hold the Financial Institution harmless from any and all
4611	4645		4 claims, demands, and losses, including reasonable attorneys
4612	4646		5 fees and expenses, arising from or incurred in its reliance on
4613	4647		6 this Consent and Authorization. As used herein, "Customer"
4614	4648		7 shall mean "Member" if the Financial Institution is a credit
4615	4649		8 union.
4616	4650		9 ....................... ......................
4617	4651		10 (Date) (Signature of Customer)
4618	4652		11 ......................
4619	4653		12 ......................
4620	4654		13 (Address of Customer)
4621	4655		14 ......................
4622	4656		15 (Customer's birth date)
4623	4657		16 (month/day/year)
4624	4658		17 The undersigned witness certifies that .................,
4625	4659		18 known to me to be the same person whose name is subscribed as
4626	4660		19 the customer to the foregoing Consent and Authorization,
4627	4661		20 appeared before me and the notary public and acknowledged
4628	4662		21 signing and delivering the instrument as his or her free and
4629	4663		22 voluntary act for the uses and purposes therein set forth. I
4630	4664
4631	4665
4632	4666
4633	4667
4634	4668
4635		-	HB3467 ~~Engrossed~~ - 131 - LRB104 10334 BAB 20408 b
4636		-
4637		-
4638		-	HB3467 ~~Engrossed~~- 132 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 132 - LRB104 10334 BAB 20408 b
4639		-	HB3467 ~~Engrossed~~ - 132 - LRB104 10334 BAB 20408 b
	4669	+	HB3467 - 131 - LRB104 10334 BAB 20408 b
	4670	+
	4671	+
	4672	+	HB3467- 132 -LRB104 10334 BAB 20408 b HB3467 - 132 - LRB104 10334 BAB 20408 b
	4673	+	HB3467 - 132 - LRB104 10334 BAB 20408 b
4640	4674		1 believe him or her to be of sound mind and memory. The
4641	4675		2 undersigned witness also certifies that the witness is not an
4642	4676		3 owner, operator, or relative of an owner or operator of a
4643	4677		4 long-term care facility in which the customer is a patient or
4644	4678		5 resident.
4645	4679		6 Dated: ................. ......................
4646	4680		7 (Signature of Witness)
4647	4681		8 ......................
4648	4682		9 (Print Name of Witness)
4649	4683		10 ......................
4650	4684		11 ......................
4651	4685		12 (Address of Witness)
4652	4686		13 State of Illinois)
4653	4687		14 ) ss.
4654	4688		15 County of .......)
4655	4689		16 The undersigned, a notary public in and for the above county
4656	4690		17 and state, certifies that .........., known to me to be the
4657	4691		18 same person whose name is subscribed as the customer to the
4658	4692		19 foregoing Consent and Authorization, appeared before me
4659	4693		20 together with the witness, .........., in person and
4660	4694		21 acknowledged signing and delivering the instrument as the free
4661	4695
4662	4696
4663	4697
4664	4698
4665	4699
4666		-	HB3467 ~~Engrossed~~ - 132 - LRB104 10334 BAB 20408 b
4667		-
4668		-
4669		-	HB3467 ~~Engrossed~~- 133 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 133 - LRB104 10334 BAB 20408 b
4670		-	HB3467 ~~Engrossed~~ - 133 - LRB104 10334 BAB 20408 b
	4700	+	HB3467 - 132 - LRB104 10334 BAB 20408 b
	4701	+
	4702	+
	4703	+	HB3467- 133 -LRB104 10334 BAB 20408 b HB3467 - 133 - LRB104 10334 BAB 20408 b
	4704	+	HB3467 - 133 - LRB104 10334 BAB 20408 b
4671	4705		1 and voluntary act of the customer for the uses and purposes
4672	4706		2 therein set forth.
4673	4707		3 Dated:.......................................................
4674	4708		4 Notary Public:...............................................
4675	4709		5 My commission expires:.......................................
4676	4710		6 (b) In no event shall the credit union distribute the
4677	4711		7 member's financial records to the long-term care facility
4678	4712		8 from which the member seeks initial or continuing
4679	4713		9 residency or long-term care services.
4680	4714		10 (c) A credit union providing financial records of a
4681	4715		11 member in good faith relying on a consent and
4682	4716		12 authorization executed and tendered in accordance with
4683	4717		13 this item (17) shall not be liable to the member or any
4684	4718		14 other person in relation to the credit union's disclosure
4685	4719		15 of the member's financial records to the Department. The
4686	4720		16 member signing the consent and authorization shall
4687	4721		17 indemnify and hold the credit union harmless that relies
4688	4722		18 in good faith upon the consent and authorization and
4689	4723		19 incurs a loss because of such reliance. The credit union
4690	4724		20 recovering under this indemnification provision shall also
4691	4725		21 be entitled to reasonable attorney's fees and the expenses
4692	4726		22 of recovery.
4693	4727		23 (d) A credit union shall be reimbursed by the member
4694	4728		24 for all costs reasonably necessary and directly incurred
4695	4729
4696	4730
4697	4731
4698	4732
4699	4733
4700		-	HB3467 ~~Engrossed~~ - 133 - LRB104 10334 BAB 20408 b
4701		-
4702		-
4703		-	HB3467 ~~Engrossed~~- 134 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 134 - LRB104 10334 BAB 20408 b
4704		-	HB3467 ~~Engrossed~~ - 134 - LRB104 10334 BAB 20408 b
	4734	+	HB3467 - 133 - LRB104 10334 BAB 20408 b
	4735	+
	4736	+
	4737	+	HB3467- 134 -LRB104 10334 BAB 20408 b HB3467 - 134 - LRB104 10334 BAB 20408 b
	4738	+	HB3467 - 134 - LRB104 10334 BAB 20408 b
4705	4739		1 in searching for, reproducing, and disclosing a member's
4706	4740		2 financial records required or requested to be produced
4707	4741		3 pursuant to any consent and authorization executed under
4708	4742		4 this item (17). The requested financial records shall be
4709	4743		5 delivered to the Department within 10 days after receiving
4710	4744		6 a properly executed consent and authorization or at the
4711	4745		7 earliest practicable time thereafter if the requested
4712	4746		8 records cannot be delivered within 10 days, but delivery
4713	4747		9 may be delayed until the final reimbursement of all costs
4714	4748		10 is received by the credit union. The credit union may
4715	4749		11 honor a photostatic or electronic copy of a properly
4716	4750		12 executed consent and authorization.
4717	4751		13 (e) Nothing in this item (17) shall impair, abridge,
4718	4752		14 or abrogate the right of a member to:
4719	4753		15 (1) directly disclose his or her financial records
4720	4754		16 to the Department or any other person; or
4721	4755		17 (2) authorize his or her attorney or duly
4722	4756		18 appointed agent to request and obtain the member's
4723	4757		19 financial records and disclose those financial records
4724	4758		20 to the Department.
4725	4759		21 (f) For purposes of this item (17), "Department" means
4726	4760		22 the Department of Human Services and the Department of
4727	4761		23 Healthcare and Family Services or any successor
4728	4762		24 administrative agency of either agency.
4729	4763		25 (18) The furnishing of the financial records of a
4730	4764		26 member to an appropriate law enforcement authority,
4731	4765
4732	4766
4733	4767
4734	4768
4735	4769
4736		-	HB3467 ~~Engrossed~~ - 134 - LRB104 10334 BAB 20408 b
4737		-
4738		-
4739		-	HB3467 ~~Engrossed~~- 135 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 135 - LRB104 10334 BAB 20408 b
4740		-	HB3467 ~~Engrossed~~ - 135 - LRB104 10334 BAB 20408 b
	4770	+	HB3467 - 134 - LRB104 10334 BAB 20408 b
	4771	+
	4772	+
	4773	+	HB3467- 135 -LRB104 10334 BAB 20408 b HB3467 - 135 - LRB104 10334 BAB 20408 b
	4774	+	HB3467 - 135 - LRB104 10334 BAB 20408 b
4741	4775		1 without prior notice to or consent of the member, upon
4742	4776		2 written request of the law enforcement authority, when
4743	4777		3 reasonable suspicion of an imminent threat to the personal
4744	4778		4 security and safety of the member exists that necessitates
4745	4779		5 an expedited release of the member's financial records, as
4746	4780		6 determined by the law enforcement authority. The law
4747	4781		7 enforcement authority shall include a brief explanation of
4748	4782		8 the imminent threat to the member in its written request
4749	4783		9 to the credit union. The written request shall reflect
4750	4784		10 that it has been authorized by a supervisory or managerial
4751	4785		11 official of the law enforcement authority. The decision to
4752	4786		12 furnish the financial records of a member to a law
4753	4787		13 enforcement authority shall be made by a supervisory or
4754	4788		14 managerial official of the credit union. A credit union
4755	4789		15 providing information in accordance with this item (18)
4756	4790		16 shall not be liable to the member or any other person for
4757	4791		17 the disclosure of the information to the law enforcement
4758	4792		18 authority.
4759	4793		19 (19) The furnishing of financial records of a deceased
4760	4794		20 member to a public administrator of any county or other
4761	4795		21 governmental jurisdiction for the purpose of facilitating
4762	4796		22 burial of the customer.
4763	4797		23 (c) Except as otherwise provided by this Act, a credit
4764	4798		24 union may not disclose to any person, except to the member or
4765	4799		25 his duly authorized agent, any financial records relating to
4766	4800		26 that member of the credit union unless:
4767	4801
4768	4802
4769	4803
4770	4804
4771	4805
4772		-	HB3467 ~~Engrossed~~ - 135 - LRB104 10334 BAB 20408 b
4773		-
4774		-
4775		-	HB3467 ~~Engrossed~~- 136 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 136 - LRB104 10334 BAB 20408 b
4776		-	HB3467 ~~Engrossed~~ - 136 - LRB104 10334 BAB 20408 b
	4806	+	HB3467 - 135 - LRB104 10334 BAB 20408 b
	4807	+
	4808	+
	4809	+	HB3467- 136 -LRB104 10334 BAB 20408 b HB3467 - 136 - LRB104 10334 BAB 20408 b
	4810	+	HB3467 - 136 - LRB104 10334 BAB 20408 b
4777	4811		1 (1) the member has authorized disclosure to the
4778	4812		2 person;
4779	4813		3 (2) the financial records are disclosed in response to
4780	4814		4 a lawful subpoena, summons, warrant, citation to discover
4781	4815		5 assets, or court order that meets the requirements of
4782	4816		6 subparagraph (3)(d) of this Section; or
4783	4817		7 (3) the credit union is attempting to collect an
4784	4818		8 obligation owed to the credit union and the credit union
4785	4819		9 complies with the provisions of Section 2I of the Consumer
4786	4820		10 Fraud and Deceptive Business Practices Act.
4787	4821		11 (d) A credit union shall disclose financial records under
4788	4822		12 item (3)(c)(2) of this Section pursuant to a lawful subpoena,
4789	4823		13 summons, warrant, citation to discover assets, or court order
4790	4824		14 only after the credit union sends a copy of the subpoena,
4791	4825		15 summons, warrant, citation to discover assets, or court order
4792	4826		16 to the person establishing the relationship with the credit
4793	4827		17 union, if living, and otherwise the person's personal
4794	4828		18 representative, if known, at the person's last known address
4795	4829		19 by first class mail, postage prepaid, through a third-party
4796	4830		20 commercial carrier or courier with delivery charge fully
4797	4831		21 prepaid, by hand delivery, or by electronic delivery at an
4798	4832		22 email address on file with the credit union (if the person
4799	4833		23 establishing the relationship with the credit union has
4800	4834		24 consented to receive electronic delivery and, if the person
4801	4835		25 establishing the relationship with the credit union is a
4802	4836		26 consumer, the person has consented under the consumer consent
4803	4837
4804	4838
4805	4839
4806	4840
4807	4841
4808		-	HB3467 ~~Engrossed~~ - 136 - LRB104 10334 BAB 20408 b
4809		-
4810		-
4811		-	HB3467 ~~Engrossed~~- 137 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 137 - LRB104 10334 BAB 20408 b
4812		-	HB3467 ~~Engrossed~~ - 137 - LRB104 10334 BAB 20408 b
	4842	+	HB3467 - 136 - LRB104 10334 BAB 20408 b
	4843	+
	4844	+
	4845	+	HB3467- 137 -LRB104 10334 BAB 20408 b HB3467 - 137 - LRB104 10334 BAB 20408 b
	4846	+	HB3467 - 137 - LRB104 10334 BAB 20408 b
4813	4847		1 provisions set forth in Section 7001 of Title 15 of the United
4814	4848		2 States Code), unless the credit union is specifically
4815	4849		3 prohibited from notifying the person by order of court or by
4816	4850		4 applicable State or federal law. In the case of a grand jury
4817	4851		5 subpoena, a credit union shall not mail a copy of a subpoena to
4818	4852		6 any person pursuant to this subsection if the subpoena was
4819	4853		7 issued by a grand jury under the Statewide Grand Jury Act or
4820	4854		8 notifying the person would constitute a violation of the
4821	4855		9 federal Right to Financial Privacy Act of 1978.
4822	4856		10 (e)(1) Any officer or employee of a credit union who
4823	4857		11 knowingly and willfully furnishes financial records in
4824	4858		12 violation of this Section is guilty of a business offense and
4825	4859		13 upon conviction thereof shall be fined not more than $1,000.
4826	4860		14 (2) Any person who knowingly and willfully induces or
4827	4861		15 attempts to induce any officer or employee of a credit union to
4828	4862		16 disclose financial records in violation of this Section is
4829	4863		17 guilty of a business offense and upon conviction thereof shall
4830	4864		18 be fined not more than $1,000.
4831	4865		19 (f) A credit union shall be reimbursed for costs which are
4832	4866		20 reasonably necessary and which have been directly incurred in
4833	4867		21 searching for, reproducing or transporting books, papers,
4834	4868		22 records or other data of a member required or requested to be
4835	4869		23 produced pursuant to a lawful subpoena, summons, warrant,
4836	4870		24 citation to discover assets, or court order. The Secretary and
4837	4871		25 the Director may determine, by rule, the rates and conditions
4838	4872		26 under which payment shall be made. Delivery of requested
4839	4873
4840	4874
4841	4875
4842	4876
4843	4877
4844		-	HB3467 ~~Engrossed~~ - 137 - LRB104 10334 BAB 20408 b
4845		-
4846		-
4847		-	HB3467 ~~Engrossed~~- 138 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 138 - LRB104 10334 BAB 20408 b
4848		-	HB3467 ~~Engrossed~~ - 138 - LRB104 10334 BAB 20408 b
	4878	+	HB3467 - 137 - LRB104 10334 BAB 20408 b
	4879	+
	4880	+
	4881	+	HB3467- 138 -LRB104 10334 BAB 20408 b HB3467 - 138 - LRB104 10334 BAB 20408 b
	4882	+	HB3467 - 138 - LRB104 10334 BAB 20408 b
4849	4883		1 documents may be delayed until final reimbursement of all
4850	4884		2 costs is received.
4851	4885		3 (Source: P.A. 101-81, eff. 7-12-19; 102-873, eff. 5-13-22.)
4852	4886		4 Section 99. Effective date. This Act takes effect upon
4853	4887		5 becoming law.
4854		-	HB3467 ~~Engrossed~~- 139 -LRB104 10334 BAB 20408 b 1 INDEX 2 Statutes amended in order of appearance 3 205 ILCS 5/2from Ch. 17, par. 3024 205 ILCS 5/5from Ch. 17, par. 3115 205 ILCS 5/13from Ch. 17, par. 3206 205 ILCS 5/15from Ch. 17, par. 3227 205 ILCS 5/16from Ch. 17, par. 3238 205 ILCS 5/16.59 205 ILCS 5/32.1from Ch. 17, par. 34010 205 ILCS 5/4811 205 ILCS 5/48.1from Ch. 17, par. 36012 205 ILCS 5/48.2from Ch. 17, par. 360.113 205 ILCS 205/1008from Ch. 17, par. 7301-814 205 ILCS 205/4002from Ch. 17, par. 7304-215 205 ILCS 205/4003from Ch. 17, par. 7304-316 205 ILCS 205/4013from Ch. 17, par. 7304-1317 205 ILCS 205/6002from Ch. 17, par. 7306-218 205 ILCS 205/7005from Ch. 17, par. 7307-519 205 ILCS 205/8002from Ch. 17, par. 7308-220 205 ILCS 205/11008from Ch. 17, par. 7311-821 205 ILCS 205/1007.100 rep.22 205 ILCS 205/11011 rep.23 205 ILCS 305/10from Ch. 17, par. 4411 HB3467 ~~Engrossed~~- 139 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 139 - LRB104 10334 BAB 20408 b 1 INDEX 2 Statutes amended in order of appearance 3 205 ILCS 5/2 from Ch. 17, par. 302 4 205 ILCS 5/5 from Ch. 17, par. 311 5 205 ILCS 5/13 from Ch. 17, par. 320 6 205 ILCS 5/15 from Ch. 17, par. 322 7 205 ILCS 5/16 from Ch. 17, par. 323 8 205 ILCS 5/16.5 9 205 ILCS 5/32.1 from Ch. 17, par. 340 10 205 ILCS 5/48 11 205 ILCS 5/48.1 from Ch. 17, par. 360 12 205 ILCS 5/48.2 from Ch. 17, par. 360.1 13 205 ILCS 205/1008 from Ch. 17, par. 7301-8 14 205 ILCS 205/4002 from Ch. 17, par. 7304-2 15 205 ILCS 205/4003 from Ch. 17, par. 7304-3 16 205 ILCS 205/4013 from Ch. 17, par. 7304-13 17 205 ILCS 205/6002 from Ch. 17, par. 7306-2 18 205 ILCS 205/7005 from Ch. 17, par. 7307-5 19 205 ILCS 205/8002 from Ch. 17, par. 7308-2 20 205 ILCS 205/11008 from Ch. 17, par. 7311-8 21 205 ILCS 205/1007.100 rep. 22 205 ILCS 205/11011 rep. 23 205 ILCS 305/10 from Ch. 17, par. 4411
4855		-	HB3467 ~~Engrossed~~- 139 -LRB104 10334 BAB 20408 b HB3467 ~~Engrossed~~ - 139 - LRB104 10334 BAB 20408 b
4856		-	HB3467 ~~Engrossed~~ - 139 - LRB104 10334 BAB 20408 b
	4888	+	HB3467- 139 -LRB104 10334 BAB 20408 b 1 INDEX 2 Statutes amended in order of appearance HB3467- 139 -LRB104 10334 BAB 20408 b HB3467 - 139 - LRB104 10334 BAB 20408 b 1 INDEX 2 Statutes amended in order of appearance
	4889	+	HB3467- 139 -LRB104 10334 BAB 20408 b HB3467 - 139 - LRB104 10334 BAB 20408 b
	4890	+	HB3467 - 139 - LRB104 10334 BAB 20408 b
4857	4891		1 INDEX
4858	4892		2 Statutes amended in order of appearance
4859		-	3 205 ILCS 5/2 from Ch. 17, par. 302
4860		-	4 205 ILCS 5/5 from Ch. 17, par. 311
4861		-	5 205 ILCS 5/13 from Ch. 17, par. 320
4862		-	6 205 ILCS 5/15 from Ch. 17, par. 322
4863		-	7 205 ILCS 5/16 from Ch. 17, par. 323
4864		-	8 205 ILCS 5/16.5
4865		-	9 205 ILCS 5/32.1 from Ch. 17, par. 340
4866		-	10 205 ILCS 5/48
4867		-	11 205 ILCS 5/48.1 from Ch. 17, par. 360
4868		-	12 205 ILCS 5/48.2 from Ch. 17, par. 360.1
4869		-	13 205 ILCS 205/1008 from Ch. 17, par. 7301-8
4870		-	14 205 ILCS 205/4002 from Ch. 17, par. 7304-2
4871		-	15 205 ILCS 205/4003 from Ch. 17, par. 7304-3
4872		-	16 205 ILCS 205/4013 from Ch. 17, par. 7304-13
4873		-	17 205 ILCS 205/6002 from Ch. 17, par. 7306-2
4874		-	18 205 ILCS 205/7005 from Ch. 17, par. 7307-5
4875		-	19 205 ILCS 205/8002 from Ch. 17, par. 7308-2
4876		-	20 205 ILCS 205/11008 from Ch. 17, par. 7311-8
4877		-	21 205 ILCS 205/1007.100 rep.
4878		-	22 205 ILCS 205/11011 rep.
4879		-	23 205 ILCS 305/10 from Ch. 17, par. 4411
4880		-
4881		-
4882		-
4883		-
4884		-
4885		-	HB3467 Engrossed - 138 - LRB104 10334 BAB 20408 b
4886		-
4887		-
4888		-
4889		-	HB3467 Engrossed- 139 -LRB104 10334 BAB 20408 b HB3467 Engrossed - 139 - LRB104 10334 BAB 20408 b
4890		-	HB3467 Engrossed - 139 - LRB104 10334 BAB 20408 b
	4893	+
	4894	+
	4895	+
	4896	+
	4897	+
	4898	+	HB3467 - 138 - LRB104 10334 BAB 20408 b
	4899	+
	4900	+
	4901	+
	4902	+	HB3467- 139 -LRB104 10334 BAB 20408 b HB3467 - 139 - LRB104 10334 BAB 20408 b
	4903	+	HB3467 - 139 - LRB104 10334 BAB 20408 b
4891	4904		1 INDEX
4892	4905		2 Statutes amended in order of appearance
4893		-	3 205 ILCS 5/2 from Ch. 17, par. 302
4894		-	4 205 ILCS 5/5 from Ch. 17, par. 311
4895		-	5 205 ILCS 5/13 from Ch. 17, par. 320
4896		-	6 205 ILCS 5/15 from Ch. 17, par. 322
4897		-	7 205 ILCS 5/16 from Ch. 17, par. 323
4898		-	8 205 ILCS 5/16.5
4899		-	9 205 ILCS 5/32.1 from Ch. 17, par. 340
4900		-	10 205 ILCS 5/48
4901		-	11 205 ILCS 5/48.1 from Ch. 17, par. 360
4902		-	12 205 ILCS 5/48.2 from Ch. 17, par. 360.1
4903		-	13 205 ILCS 205/1008 from Ch. 17, par. 7301-8
4904		-	14 205 ILCS 205/4002 from Ch. 17, par. 7304-2
4905		-	15 205 ILCS 205/4003 from Ch. 17, par. 7304-3
4906		-	16 205 ILCS 205/4013 from Ch. 17, par. 7304-13
4907		-	17 205 ILCS 205/6002 from Ch. 17, par. 7306-2
4908		-	18 205 ILCS 205/7005 from Ch. 17, par. 7307-5
4909		-	19 205 ILCS 205/8002 from Ch. 17, par. 7308-2
4910		-	20 205 ILCS 205/11008 from Ch. 17, par. 7311-8
4911		-	21 205 ILCS 205/1007.100 rep.
4912		-	22 205 ILCS 205/11011 rep.
4913		-	23 205 ILCS 305/10 from Ch. 17, par. 4411
4914		-
4915		-
4916		-
4917		-
4918		-
4919		-	HB3467 Engrossed - 139 - LRB104 10334 BAB 20408 b
	4906	+
	4907	+
	4908	+
	4909	+
	4910	+
	4911	+	HB3467 - 139 - LRB104 10334 BAB 20408 b