HB 19

  • Illinois House Bill
  • 101st Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Community Bank Of Il Act

Abstract

Creates the Community Bank of Illinois Act. Provides that the Department of Financial and Professional Regulation shall operate The Community Bank of Illinois. Specifies the authority of the advisory board of directors to the Bank. Provides that the Secretary of Financial and Professional Regulation is to employ a president and employees. Contains provisions concerning the removal and discharge of appointees. Provides that State funds must be deposited in the Bank. Contains provisions concerning the nonliability of officers and sureties after deposit. Specifies the powers of the Bank. Contains provisions concerning the guaranty of deposits and the Bank's role as a clearinghouse, the authorization of loans the General Revenue Fund, bank loans to farmers, limitations on loans by the Bank, the name in which business is conducted and titles taken, civil actions, surety on appeal, audits, electronic fund transfer systems, confidentiality of bank records, the sale and leasing of acquired agricultural real estate, and the Illinois higher education savings plan. Provides that the Bank is the custodian of securities. Amends the Illinois State Auditing Act to require that the Auditor General must contract with an independent certified public accounting firm for an annual audit of The Community Bank of Illinois as provided in the Community Bank of Illinois Act. Amends the Eminent Domain Act to allow the Bank to acquire property by eminent domain.

Bill Sponsors (5)

Votes


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Actions


Jun 23, 2020

House

Rule 19(b) / Re-referred to Rules Committee

Mar 04, 2020

House

Added Co-Sponsor Rep. Debbie Meyers-Martin

Feb 18, 2020

House

Assigned to Financial Institutions Committee

Mar 29, 2019

House

Rule 19(a) / Re-referred to Rules Committee

Mar 21, 2019

House

Added Chief Co-Sponsor Rep. Melissa Conyears-Ervin

Feb 14, 2019

House

Added Chief Co-Sponsor Rep. Anne Stava-Murray

House

Added Chief Co-Sponsor Rep. Kambium Buckner

Jan 29, 2019

House

Assigned to Financial Institutions Committee

Jan 09, 2019

House

Referred to Rules Committee

House

First Reading

Nov 30, 2018

House

Prefiled with Clerk by Rep. Mary E. Flowers

Bill Text

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Related Documents

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Sources

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