Adam Brown
- Republican
Primary
Amends the Illinois Banking Act. Provides that the Secretary of Financial and Professional Regulation may assess reasonable receivership fees against any State bank that does not maintain insurance with the Federal Deposit Insurance Corporation. Provides that members of the State Banking Board of Illinois cease to be eligible to serve on the Board once they no longer meet the requirements of their original appointment; however a member from a State Bank shall not be disqualified solely due to a change in the bank's asset size. Amends the Savings Bank Act. Provides that savings banks and service corporations shall pay specified fees in quarterly installments. Removes a provision concerning a fee that is levied as an adjustment to the supervisory fee. Provides that the Secretary may assess reasonable receivership fees against any savings bank operating under the Act that does not maintain insurance with the Federal Deposit Insurance Corporation. Provides that if the funds in the estate of the savings bank are insufficient to cover the expenses that arise from the administration of a receivership, the Secretary may pay such expenses from the Non-insured Institutions Receivership account. Provides that members of the Board of Savings Banks cease to be eligible to serve on the Board once they no longer meet the requirements of their original appointment.
Effective Date January 1, 2016
Public Act . . . . . . . . . 99-0039
Governor Approved
Sent to the Governor
Passed Both Houses
Third Reading - Passed; 056-000-000
Second Reading
Placed on Calendar Order of 3rd Reading May 19, 2015
Do Pass Financial Institutions; 007-000-000
Placed on Calendar Order of 2nd Reading April 30, 2015
Assigned to Financial Institutions
First Reading
Referred to Assignments
Third Reading - Short Debate - Passed 114-000-001
Chief Senate Sponsor Sen. Chris Nybo
Placed on Calendar Order of First Reading April 16, 2015
Arrive in Senate
Second Reading - Short Debate
Placed on Calendar Order of 3rd Reading - Short Debate
Placed on Calendar 2nd Reading - Short Debate
Do Pass / Short Debate Business & Occupational Licenses Committee; 009-000-000
Assigned to Business & Occupational Licenses Committee
Filed with the Clerk by Rep. Adam Brown
First Reading
Referred to Rules Committee
| Bill Text Versions | Format |
|---|---|
| Introduced | HTML |
| Engrossed | HTML |
| Enrolled | HTML |
| Document | Format |
|---|---|
| Public Act |
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