HB 5342

  • Illinois House Bill
  • 98th Regular Session
  • Introduced in House May 28, 2014
  • Passed House Mar 21, 2014
  • Passed Senate May 28, 2014
  • Became Law Jul 24, 2014

Credit Union-Examinations

Abstract

Amends the Illinois Credit Union Act. Defines "charitable donation account" and provides that a credit union may establish one or more charitable donation accounts that must comply with the requirements of the Act. Further provides that the investments and purchases to fund a charitable donation account are not subject to the investment limitations of the Act and that the aggregate book value of the investments in all charitable donation accounts shall not exceed 5% of the credit union's net worth. Adds provisions establishing the procedural requirements of the Department of Financial and Professional Regulation's examination process and prescribes the requirements of the Department's examination reports. Provides that each member of the board of directors of a credit union shall have a working familiarity with basic finance and accounting practices consistent with the size and complexity of the credit union they serve. Further provides that members of the supervisory committee of a credit union shall receive training related to their duties under the Act and establishes the acceptable forms of such training. Provides that, for a renewal, refinancing, or restructuring of an existing loan that is secured by an interest in real estate, a new appraisal of the collateral shall not be required under certain circumstances. Additionally provides that a credit union may act as a representative of and enter into an agreement with other credit unions or organizations for certain purposes. Generally effective immediately, but some provisions take effect on January 1, 2015.

Bill Sponsors (2)

Votes


Actions


Jul 24, 2014

House

Public Act . . . . . . . . . 98-0784

House

Effective Date July 24, 2014

House

Governor Approved

Jun 27, 2014

House

Sent to the Governor

May 30, 2014

House

Senate Floor Amendment No. 1 House Concurs 108-000-001

House

Passed Both Houses

House

House Concurs

May 29, 2014

House

Senate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 004-000-000

May 28, 2014

House

Arrived in House

House

Senate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee

House

Senate Floor Amendment No. 1 Motion Filed Concur Rep. Lou Lang

House

Placed on Calendar Order of Concurrence Senate Amendment(s) 1

Senate

Third Reading - Passed; 056-000-000

Senate

Added as Alternate Chief Co-Sponsor Sen. Pamela J. Althoff

Senate

Placed on Calendar Order of 3rd Reading

Senate

Senate Floor Amendment No. 1 Adopted; Holmes

Senate

Recalled to Second Reading

May 27, 2014

Senate

Senate Floor Amendment No. 1 Be Approved for Consideration Assignments

May 26, 2014

Senate

Senate Floor Amendment No. 1 Referred to Assignments

Senate

Senate Floor Amendment No. 1 Filed with Secretary by Sen. Linda Holmes

May 23, 2014

Senate

Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2014

May 22, 2014

Senate

Added as Alternate Chief Co-Sponsor Sen. Linda Holmes

May 08, 2014

Senate

Placed on Calendar Order of 3rd Reading May 12, 2014

Senate

Second Reading

May 07, 2014

Senate

Placed on Calendar Order of 2nd Reading May 8, 2014

Senate

Do Pass Financial Institutions; 007-000-000

Apr 30, 2014

Senate

Assigned to Financial Institutions

Apr 04, 2014

Senate

Added as Alternate Co-Sponsor Sen. Antonio Muñoz

Mar 27, 2014

Senate

Chief Senate Sponsor Sen. David Koehler

Senate

Referred to Assignments

Senate

First Reading

Mar 21, 2014

Senate

Arrive in Senate

Senate

Placed on Calendar Order of First Reading March 25, 2014

House

Third Reading - Short Debate - Passed 109-000-001

Mar 19, 2014

House

Second Reading - Short Debate

House

Placed on Calendar Order of 3rd Reading - Short Debate

Mar 05, 2014

House

Placed on Calendar 2nd Reading - Short Debate

Mar 04, 2014

House

House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote

House

Do Pass as Amended / Short Debate Financial Institutions Committee; 015-000-000

Mar 03, 2014

House

House Committee Amendment No. 1 Rules Refers to Financial Institutions Committee

Feb 26, 2014

House

House Committee Amendment No. 1 Referred to Rules Committee

House

House Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang

Feb 21, 2014

House

Chief Co-Sponsor Changed to Rep. David R. Leitch

House

Added Chief Co-Sponsor Rep. Michael Unes

House

Added Chief Co-Sponsor Rep. David R. Leitch

Feb 20, 2014

House

Assigned to Financial Institutions Committee

Feb 13, 2014

House

Added Co-Sponsor Rep. Rich Brauer

Feb 10, 2014

House

First Reading

House

Referred to Rules Committee

House

Filed with the Clerk by Rep. Lou Lang

Bill Text

Bill Text Versions Format
Introduced HTML
Engrossed HTML
Enrolled HTML

Related Documents

Document Format
Public Act
Senate Amendment 001
House Amendment 001

Sources

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