|
|
|
|
94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB2730
Introduced 2/22/2005, by Rep. Tom Cross SYNOPSIS AS INTRODUCED:
|
|
|
|
Amends the Illinois Finance Authority Act. Makes a technical change in a
Section concerning definitions.
|
| |
|
|
|
|
A BILL FOR
|
|
|
|
|
HB2730 |
|
LRB094 06472 RCE 36560 b |
|
|
| 1 |
| AN ACT concerning State government.
|
| 2 |
| Be it enacted by the People of the State of Illinois, |
| 3 |
| represented in the General Assembly:
|
| 4 |
| Section 5. The Illinois Finance Authority Act is amended by |
| 5 |
| changing Section 805-10 as follows:
|
| 6 |
| (20 ILCS 3501/805-10)
|
| 7 |
| Sec. 805-10. Definitions. The
The following terms, |
| 8 |
| whenever used or referred
to in this Article, shall have the |
| 9 |
| following meanings ascribed to them, except
where the context |
| 10 |
| clearly requires otherwise: |
| 11 |
| (a) "Financial Institution" means a financial institution |
| 12 |
| which is a trust
company, a bank, a savings bank, a credit |
| 13 |
| union, an investment bank, a broker,
an investment trust, a |
| 14 |
| pension fund, a building and loan association, a savings
and |
| 15 |
| loan association, an insurance company, or any other |
| 16 |
| institution acceptable
to the Authority, authorized to do |
| 17 |
| business in the State and approved by the
Authority to insure |
| 18 |
| bonds or loans for industrial projects authorized by this
Act.
|
| 19 |
| (b) "Participating lender" means any trust company, bank, |
| 20 |
| savings bank,
credit
union, investment bank, broker, |
| 21 |
| investment trust, pension fund, building and
loan association, |
| 22 |
| savings and loan association, insurance company or other
|
| 23 |
| institution approved by the Authority which assumes a portion |
| 24 |
| of the risk on a
loan for an industrial project as provided in
|
| 25 |
| Section 805-30 of this Act.
|
| 26 |
| (Source: P.A. 93-205, eff. 1-1-04.)
|