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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB0633 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
| | 720 ILCS 300/1 | from Ch. 17, par. 901 |
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Amends the Derogatory Statements About Banks Act. Makes a technical change in
a Section concerning violations of the Act.
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| | A BILL FOR |
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| | HB0633 | | LRB101 03631 SLF 48639 b |
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| 1 | | AN ACT concerning criminal law.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Derogatory Statements About Banks Act is |
| 5 | | amended by changing Section 1 as follows:
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| 6 | | (720 ILCS 300/1) (from Ch. 17, par. 901)
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| 7 | | Sec. 1.
Any person who shall willfully and
and maliciously |
| 8 | | make, circulate, or
transmit to another or others, any |
| 9 | | statements, rumor or suggestion,
written, printed or by word of |
| 10 | | mouth, which is directly or by inference
derogatory to the |
| 11 | | financial condition, with intent to affect the solvency
or |
| 12 | | financial standing of any corporation doing a banking or trust |
| 13 | | business
in this State, or any building and loan association or |
| 14 | | federal savings and
loan association doing business in this |
| 15 | | State, or who shall counsel, aid,
procure or induce another to |
| 16 | | start, transmit or circulate any such
statement, rumor or |
| 17 | | suggestion, shall be guilty of a Class A misdemeanor:
However, |
| 18 | | the truth of said statement, established by the maker thereof,
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| 19 | | shall be a complete defense in any prosecution under the |
| 20 | | provisions of this
Act. |
| 21 | | (Source: P.A. 77-2830.)
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