Date	Chamber	Action
1/9/2007	Senate	Session Sine Die

Statutes Amended In Order of Appearance

205 ILCS 710/5

205 ILCS 710/10

205 ILCS 710/20 new

Synopsis As Introduced
Amends the Banking on Illinois Act. Makes a change concerning declarations of policy to provide that by ensuring a favorable environment for banks to commence and operate their businesses from this State, more newly created community banks and merging banks will choose to maintain or retain their headquarters in or (now, and) relocate their main banking offices to Illinois. Provides that it is the purpose of the Act to encourage and provide a favorable environment in Illinois for the chartering and operating of banks that locate and maintain main banking headquarters (now, offices) in this State. Authorizes a State or federally chartered bank that maintains its main banking headquarters in this State to offer a credit product to Illinois residents under the same terms and conditions that an out-of-state bank may offer the credit product to Illinois residents. Requires any bank offering such a credit product to provide written notice to the Director of the Division of Banks and Real Estate in the Department of Financial and Professional Regulation of its intent to offer the product. Makes other changes. Effective immediately.

Actions 

Date	Chamber	Action
2/25/2005	Senate	Filed with Secretary by Sen. Kimberly A. Lightford
2/25/2005	Senate	Chief Co-Sponsor Sen. Dan Rutherford
2/25/2005	Senate	First Reading
2/25/2005	Senate	Referred to Rules
3/2/2005	Senate	Assigned to Financial Institutions
3/10/2005	Senate	Postponed - Financial Institutions
3/17/2005	Senate	Postponed - Financial Institutions
3/18/2005	Senate	Rule 3-9(a) / Re-referred to Rules
1/9/2007	Senate	Session Sine Die

Back To Top