HB6740 Engrossed

LRB093 19916 BDD 45659 b






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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 Engrossed
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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.