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

    Amends the Derogatory Statements About Banks Act. Makes a technical change in a Section concerning violations of the Act.


LRB101 03631 SLF 48639 b

 

 

A BILL FOR

 

HB0633LRB101 03631 SLF 48639 b

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