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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB2416 Introduced 1/15/2020___________, by SYNOPSIS AS INTRODUCED:
| | 205 ILCS 205/2002 | from Ch. 17, par. 7302-2 |
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Amends the Savings Bank Act. Makes a technical change in a
Section concerning registration of savings bank holding companies.
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| | A BILL FOR |
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| | SB2416 | | LRB101 15774 BMS 65129 b |
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| 1 | | AN ACT concerning regulation.
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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 Savings Bank Act is amended by changing |
| 5 | | Section 2002 as follows:
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| 6 | | (205 ILCS 205/2002) (from Ch. 17, par. 7302-2)
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| 7 | | Sec. 2002.
Each savings bank holding company and
and each |
| 8 | | subsidiary
thereof shall register with the Commissioner within |
| 9 | | 180 days after
the effective date of this Act or within 90 days |
| 10 | | after becoming a
savings bank holding company, whichever is |
| 11 | | later. Each savings
bank holding company and each subsidiary |
| 12 | | thereof shall register on
those forms as may be prescribed by |
| 13 | | the Commissioner which shall
include information with respect |
| 14 | | to the financial conditions,
ownership, management, and |
| 15 | | intercompany relations of the holding
company and its |
| 16 | | subsidiaries and related matters as the
Commissioner may deem |
| 17 | | necessary or appropriate to carry out the
purposes of this Act. |
| 18 | | (Source: P.A. 86-1213.)
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