Bill Status of SB 2338   95th General Assembly

Short Description:  IL BANKING-SHAREHOLDER LIST

Senate Sponsors
Sen. Terry Link and William R. Haine

House Sponsors
(Rep. Joseph M. Lyons-Mike Boland-Kenneth Dunkin-John D'Amico)


Last Action  View All Actions

DateChamber Action
  8/26/2008SenatePublic Act . . . . . . . . . 95-0924

Statutes Amended In Order of Appearance
205 ILCS 5/15from Ch. 17, par. 322

Synopsis As Introduced
Amends the Illinois Banking Act. Provides that the president and any other officer designated by the board of directors (rather than the president and cashier) of every State bank shall cause to be kept at all times a full and correct list of the names and residences of all the shareholders in the State bank and the number of shares held by each in the office where its business is transacted. Effective immediately.

House Amendment No. 1
Adds reference to:
205 ILCS 5/2from Ch. 17, par. 302
205 ILCS 5/5cfrom Ch. 17, par. 312.2
205 ILCS 5/13from Ch. 17, par. 320

Changes the definition of "financial institution" to include a savings bank. Provides that for purposes of specified provisions, "financial institution" includes any proprietary network, funds transfer corporation, or other entity providing electronic funds transfer services, and any corporate fiduciary. Provides that a bank may acquire (rather than requiring the approval of the Commissioner of Banks and Real Estate) shares of stock of a bank or holding company which owns or controls such bank if the stock of such bank or company is owned exclusively (except to the extent directors' qualifying shares are required by law) by depository institutions or depository institution holding companies and such bank or company and all subsidiaries thereof are engaged exclusively in providing services to or for other financial institutions (rather than depository institutions), their holding companies, and the officers, directors, and employees of such institutions and companies, and in providing services (rather than correspondent banking services) at the request of other financial institutions (rather than depository institutions) or their holding companies. Provides that the bank may also provide products and services to its officers, directors, and employees. Provides that the Commissioner may also issue a charter to a bank that is owned exclusively by other depository institutions or depository institution holding companies and is organized to engage exclusively in providing services to or for other financial institutions (rather than depository institutions), their holding companies, and the officers, directors, and employees of such institutions and companies, and in providing services (rather than correspondent banking services) at the request of other financial institutions (rather than depository institutions) or their holding companies. Provides that the bank may also provide products and services to its officers, directors, and employees.

Actions 
DateChamber Action
  2/14/2008SenateFiled with Secretary by Sen. Terry Link
  2/14/2008SenateFirst Reading
  2/14/2008SenateReferred to Rules
  2/21/2008SenateAdded as Co-Sponsor Sen. William R. Haine
  2/27/2008SenateAssigned to Financial Institutions
  3/6/2008SenateDo Pass Financial Institutions; 006-000-000
  3/6/2008SenatePlaced on Calendar Order of 2nd Reading March 11, 2008
  3/12/2008SenateSecond Reading
  3/12/2008SenatePlaced on Calendar Order of 3rd Reading March 13, 2008
  4/1/2008SenateThird Reading - Passed; 053-000-000
  4/1/2008HouseArrived in House
  4/1/2008HousePlaced on Calendar Order of First Reading
  4/30/2008HouseChief House Sponsor Rep. Joseph M. Lyons
  4/30/2008HouseFirst Reading
  4/30/2008HouseReferred to Rules Committee
  5/19/2008HouseCommittee Deadline Extended-Rule 9(b) May 23, 2008
  5/19/2008HouseAssigned to Financial Institutions Committee
  5/23/2008HouseFinal Action Deadline Extended-9(b) May 31, 2008
  5/27/2008HouseHouse Amendment No. 1 Filed with Clerk by Financial Institutions Committee
  5/27/2008HouseHouse Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
  5/27/2008HouseDo Pass as Amended / Short Debate Financial Institutions Committee; 015-000-000
  5/27/2008HousePlaced on Calendar 2nd Reading - Short Debate
  5/27/2008HouseSecond Reading - Short Debate
  5/27/2008HouseHeld on Calendar Order of Second Reading - Short Debate
  5/28/2008HouseAdded Alternate Chief Co-Sponsor Rep. Mike Boland
  5/28/2008HouseAdded Alternate Chief Co-Sponsor Rep. Kenneth Dunkin
  5/28/2008HouseAdded Alternate Chief Co-Sponsor Rep. John D'Amico
  5/28/2008HouseSecond Reading - Short Debate
  5/28/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/30/2008HouseThird Reading - Short Debate - Passed 107-000-007
  5/30/2008SenateSecretary's Desk - Concurrence House Amendment(s) 01
  5/30/2008SenatePlaced on Calendar Order of Concurrence House Amendment(s) 01-May 31, 2008
  5/30/2008SenateHouse Amendment No. 1 Motion to Concur Filed with Secretary Sen. Terry Link
  5/30/2008SenateHouse Amendment No. 1 Motion to Concur Referred to Rules
  5/30/2008SenateHouse Amendment No. 1 Motion to Concur Rules Referred to Financial Institutions
  5/31/2008SenateHouse Amendment No. 1 Motion To Concur Recommended Do Adopt Financial Institutions; 007-000-000
  5/31/2008SenateHouse Amendment No. 1 Senate Concurs 055-000-000
  5/31/2008SenatePassed Both Houses
  6/27/2008SenateSent to the Governor
  8/26/2008SenateGovernor Approved
  8/26/2008SenateEffective Date August 26, 2008
  8/26/2008SenatePublic Act . . . . . . . . . 95-0924

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