093_HB1980

 
                                     LRB093 08891 JLS 09123 b

 1        AN ACT in relation to financial regulation.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.   The Electronic Fund Transfer Act is amended
 5    by changing Section 20 as follows:

 6        (205 ILCS 616/20)
 7        Sec.  20.   Powers  and  duties  of  Commissioner.    The
 8    Commissioner has shall have the following powers and duties:
 9        (1)  to  promulgate  reasonable  rules in accordance with
10    the   Illinois   Administrative   Procedure   Act   for   the
11    administration of this Act;
12        (2)  to issue orders for the enforcement of this Act  and
13    any rule promulgated under this Act;
14        (3)  to   appoint   hearing   officers  to  exercise  any
15    delegated powers;
16        (4)  to  subpoena  witnesses,  compel  their  attendance,
17    administer oaths, examine any person under oath, and  require
18    the  production  of any relevant books, papers, accounts, and
19    documents in the course of and pursuant to any  investigation
20    conducted or action taken by the Commissioner; and
21        (5)  to conduct hearings.
22    (Source: P.A. 92-811, eff. 8-21-02.)