SB2707 Enrolled

LRB093 19880 BDD 45623 b






1
    AN ACT concerning the Office of Banks and Real Estate.

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


 
4
    Section 5. The Office of Banks and Real Estate Act is 
5
amended  by changing Section 6 as follows:
 



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



7
    Sec. 6. Duties. The Commissioner shall direct and supervise 
8
all the
administrative and technical activities of the Office 
9
and shall:

10
    (a) Apply and carry out this Act and the law and all rules 
11
adopted in
pursuance thereof.

12
    (b) Appoint, subject to the provisions of the Personnel 
13
Code, such
employees, experts, and special assistants as may be

14
necessary to carry out effectively the provisions of this Act 
15
and, if the
rate of compensation is not otherwise fixed by law, 
16
fix their
compensation; but neither the Commissioner nor any 
17
deputy commissioner shall be
subject to the Personnel Code.

18
    (c) Serve as Chairman of the State Banking Board of 
19
Illinois.

20
    (d) Serve as Chairman of the Board of Trustees of the 
21
Illinois Bank
Examiners' Education Foundation.

22
    (e) Issue guidelines in the form of rules or regulations 
23
which will prohibit
discrimination by any State chartered bank 
24
against any individual, corporation,
partnership, association 
25
or other entity because it appears in a
so-called blacklist 
26
issued by any domestic or foreign corporate or governmental

27
entity.

28
    (f) Make an annual report to the Governor regarding the 
29
work of the Office
as the Commissioner may consider desirable 
30
or as the Governor may request.

31
    (g) Perform such other acts as may be requested by the 
32
State Banking
Board
of Illinois pursuant to its lawful powers 
 


 






SB2707 Enrolled
- 2 -
LRB093 19880 BDD 45623 b




1
and perform any other lawful act
that the
Commissioner 
2
considers to be
necessary or desirable to carry out the 
3
purposes and provisions of this Act.

4
    (h) Adopt, in accordance with the Illinois Administrative 
5
Procedure
Act, reasonable rules that the Commissioner deems 
6
necessary for the proper
administration and enforcement of any 
7
Act the administration of which is vested
in the Commissioner 
8
or the Office of Banks and Real Estate.
9
    (i) Work in cooperation with the Director of Aging to 
10
encourage all financial institutions regulated by the Office to 
11
participate fully in the Department on Aging's financial 
12
exploitation of the elderly intervention program.


13
(Source: P.A. 92-483, eff. 8-23-01.)

 

14
    Section 99. Effective date. This Act takes effect upon 
15
becoming law.