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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB2360 Introduced 2/26/2021, by Sen. John Connor SYNOPSIS AS INTRODUCED:
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| 205 ILCS 610/4 | from Ch. 17, par. 1004 | 205 ILCS 610/6 new | | 205 ILCS 610/2 rep. | | 205 ILCS 610/3 rep. | |
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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.
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| | A BILL FOR |
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| | SB2360 | | LRB102 14792 BMS 20145 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,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Banking Emergencies Act is amended by |
| 5 | | changing Section 4 and by adding Section 6 as follows:
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| 6 | | (205 ILCS 610/4) (from Ch. 17, par. 1004)
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| 7 | | Sec. 4. Effect of Closing. Any day on which a bank, or any |
| 8 | | one or more of its offices, is closed
during all or any part of |
| 9 | | its normal banking hours due to an emergency or impending |
| 10 | | emergency affecting the bank or any one or more of its offices |
| 11 | | pursuant to the
authorization granted under this Act shall be, |
| 12 | | with respect to such bank
or, if not all of its offices are |
| 13 | | closed, then with respect to any office
or offices which are |
| 14 | | closed, a legal holiday for all purposes with respect
to any |
| 15 | | banking business of any character. No liability, or loss of |
| 16 | | rights
of any kind, on the part of any bank, or director, |
| 17 | | officer, or employee
thereof, shall accrue or result by virtue |
| 18 | | of any closing authorized by this
Act.
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| 19 | | The provisions of this Act shall be construed and applied |
| 20 | | as being in
addition to, and not in substitution for or |
| 21 | | limitation of, any other law of
this State or of the United |
| 22 | | States, authorizing the closing of a bank or
excusing the |
| 23 | | delay by a bank in the performance of its duties and
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