93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB6740


 
Introduced 02/09/04, by Patrick Verschoore
 
SYNOPSIS AS INTRODUCED:
 		














20 ILCS 3205/6
  from Ch. 17, par. 456







    Amends the Office of Banks and Real Estate Act. Requires the Commissioner of Banks and Real Estate to work in cooperation with the Director of Aging to ensure that all financial institutions regulated by the Office of Banks and Real Estate participate fully in the Department on Aging's financial exploitation of the elderly intervention program. Effective immediately.
















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A BILL FOR









 









HB6740

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    AN ACT concerning the Office of Banks and Real Estate.

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


 
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    Section 5. The Office of Banks and Real Estate Act is 
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amended  by changing Section 6 as follows:
 



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    (20 ILCS 3205/6)  (from Ch. 17, par. 456)



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    Sec. 6. Duties. The Commissioner shall direct and supervise 
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all the
administrative and technical activities of the Office 
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and shall:

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    (a) Apply and carry out this Act and the law and all rules 
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adopted in
pursuance thereof.

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    (b) Appoint, subject to the provisions of the Personnel 
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Code, such
employees, experts, and special assistants as may be

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necessary to carry out effectively the provisions of this Act 
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and, if the
rate of compensation is not otherwise fixed by law, 
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fix their
compensation; but neither the Commissioner nor any 
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deputy commissioner shall be
subject to the Personnel Code.

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    (c) Serve as Chairman of the State Banking Board of 
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Illinois.

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    (d) Serve as Chairman of the Board of Trustees of the 
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Illinois Bank
Examiners' Education Foundation.

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    (e) Issue guidelines in the form of rules or regulations 
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which will prohibit
discrimination by any State chartered bank 
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against any individual, corporation,
partnership, association 
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or other entity because it appears in a
so-called blacklist 
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issued by any domestic or foreign corporate or governmental

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entity.

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    (f) Make an annual report to the Governor regarding the 
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work of the Office
as the Commissioner may consider desirable 
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or as the Governor may request.

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    (g) Perform such other acts as may be requested by the 
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State Banking
Board
of Illinois pursuant to its lawful powers 
 


 






HB6740
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and perform any other lawful act
that the
Commissioner 
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considers to be
necessary or desirable to carry out the 
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purposes and provisions of this Act.

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    (h) Adopt, in accordance with the Illinois Administrative 
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Procedure
Act, reasonable rules that the Commissioner deems 
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necessary for the proper
administration and enforcement of any 
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Act the administration of which is vested
in the Commissioner 
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or the Office of Banks and Real Estate.
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    (i) Work in cooperation with the Director of Aging to 
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ensure that all financial institutions regulated by the Office 
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participate fully in the Department on Aging's financial 
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exploitation of the elderly intervention program.


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(Source: P.A. 92-483, eff. 8-23-01.)

 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.