Bill Status of SB 2360   102nd General Assembly

Short Description:  BANKING EMERGENCY ACT-HOLIDAYS

Senate Sponsors
Sen. John Connor

House Sponsors
(Rep. C.D. Davidsmeyer, Norine K. Hammond and Tony McCombie)


Last Action  View All Actions

DateChamber Action
  8/20/2021SenatePublic Act . . . . . . . . . 102-0553

Statutes Amended In Order of Appearance
205 ILCS 610/4from Ch. 17, par. 1004
205 ILCS 610/6 new
205 ILCS 610/2 rep.
205 ILCS 610/3 rep.

Synopsis As Introduced
Amends the Banking Emergencies Act. Provides that any day on which a bank, or any one or more of its offices, is closed during all or any part of its normal banking hours due to an emergency or impending emergency affecting the bank or any one or more of its offices (rather than pursuant to authorization granted by the Secretary) shall be a legal holiday for all purposes with respect to any banking business of any character. Provides that the Department of Financial and Professional Regulation may adopt rules to address the closing or alteration of hours by banks at one or more of their offices when affected by an emergency or impending emergency. Repeals provisions concerning powers of the Secretary of Financial and Professional Regulation and provisions concerning notice to the Secretary and the public.

Senate Committee Amendment No. 1
Deletes reference to:
205 ILCS 610/2 rep.
205 ILCS 610/3 rep.
Adds reference to:
205 ILCS 610/2from Ch. 17, par. 1002
205 ILCS 610/3from Ch. 17, par. 1003

Replaces everything after the enacting clause. Amends the Banking Emergencies Act. In provisions concerning powers of the Secretary of Financial and Professional Regulation, provides that following a proclamation by the Secretary that authorizes banks to close or alter the hours at any or all of the bank offices due to an emergency, the officers of the bank may, at an earlier time than a proclamation by the Secretary that the emergency or impending emergency has ended, determine that the closed office or offices should reopen and the amount of time reasonably necessary to reopen. Provides that the officers of a bank shall have the authority to determine not to open any of the bank's offices or to close an office if an emergency exists, or is impending, which affects or may affect the bank's offices, even if the Secretary does not issue a proclamation. Provides that the office closed shall remain closed until the time that the officers determine the emergency has ended, and for the further amount of time reasonably necessary to reopen. Provides that no bank office shall remain closed for more than 48 consecutive hours. Provides that the Department of Financial and Professional Regulation may adopt rules to address the closing or alteration of hours by banks at one or more of their offices when affected by an emergency or impending emergency. Makes other changes.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. John Connor
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/23/2021SenateAssigned to Financial Institutions
  4/9/2021SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. John Connor
  4/9/2021SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/13/2021SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  4/14/2021SenateSenate Committee Amendment No. 1 Adopted
  4/15/2021SenateDo Pass as Amended Financial Institutions; 008-000-000
  4/15/2021SenatePlaced on Calendar Order of 2nd Reading April 20, 2021
  4/21/2021SenateSecond Reading
  4/21/2021SenatePlaced on Calendar Order of 3rd Reading April 22, 2021
  4/22/2021SenateThird Reading - Passed; 058-000-000
  4/23/2021HouseArrived in House
  4/23/2021HouseChief House Sponsor Rep. C.D. Davidsmeyer
  4/23/2021HouseFirst Reading
  4/23/2021HouseReferred to Rules Committee
  5/4/2021HouseAssigned to Financial Institutions Committee
  5/11/2021HouseDo Pass / Consent Calendar Financial Institutions Committee; 010-000-000
  5/12/2021HousePlaced on Calendar 2nd Reading - Consent Calendar
  5/24/2021HouseSecond Reading - Consent Calendar
  5/24/2021HouseHeld on Calendar Order of Second Reading - Consent Calendar
  5/25/2021HousePlaced on Calendar Order of 3rd Reading - Consent Calendar
  5/26/2021HouseAdded Alternate Co-Sponsor Rep. Norine K. Hammond
  5/26/2021HouseAdded Alternate Co-Sponsor Rep. Tony McCombie
  5/26/2021HouseThird Reading - Consent Calendar - First Day
  5/27/2021HouseThird Reading - Consent Calendar - Passed 116-000-000
  5/27/2021SenatePassed Both Houses
  6/25/2021SenateSent to the Governor
  8/20/2021SenateGovernor Approved
  8/20/2021SenateEffective Date January 1, 2022
  8/20/2021SenatePublic Act . . . . . . . . . 102-0553

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