Date	Chamber	Action
8/13/2015	Senate	Public Act . . . . . . . . . 99-0362

Statutes Amended In Order of Appearance

205 ILCS 5/5

from Ch. 17, par. 311

205 ILCS 5/14

from Ch. 17, par. 321

205 ILCS 5/14.1

from Ch. 17, par. 321.1

Synopsis As Introduced
Amends the Illinois Banking Act. Provides that, for the purpose of declaring dividends pursuant to specified provisions, upon prior written approval of the Secretary of Financial and Professional Regulation, and without undergoing a quasi-reorganization, a State bank may restate its capital accounts to remove a deficit in its undivided profit account by eliminating such deficit into its surplus account so that the undivided profit account is restated to zero. Provides that nothing in provisions concerning general corporate powers shall be construed to require the filing of a notice or application for approval with the United States Office of the Comptroller of the Currency or a bank supervisor of another state as a condition to the right of a State bank to exercise any of the powers conferred in this State. Provides that the Secretary shall adopt rules under specified provisions. Effective immediately.

Senate Committee Amendment No. 1

	Deletes reference to:
	205 ILCS 5/14

Removes a provision concerning a State bank restating its capital accounts to remove a deficit in its undivided profit account by eliminating such deficit into its surplus account so that the undivided profit account is restated to zero. Provides that a bank may reorganize its capital accounts without a change in control to the same extent and in the same manner authorized for national banks, subject to the same limitations and restrictions as are applicable to national banks, upon receiving the prior written approval of the Secretary of Financial and Professional Regulation.

Actions 

Date	Chamber	Action
2/20/2015	Senate	Filed with Secretary by Sen. John M. Sullivan
2/20/2015	Senate	First Reading
2/20/2015	Senate	Referred to Assignments
3/11/2015	Senate	Assigned to Financial Institutions
3/17/2015	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. John M. Sullivan
3/17/2015	Senate	Senate Committee Amendment No. 1 Referred to Assignments
3/19/2015	Senate	Added as Co-Sponsor Sen. Pamela J. Althoff
3/24/2015	Senate	Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
3/25/2015	Senate	Senate Committee Amendment No. 1 Adopted
3/25/2015	Senate	Do Pass as Amended Financial Institutions; 011-000-000
3/25/2015	Senate	Placed on Calendar Order of 2nd Reading March 26, 2015
4/15/2015	Senate	Second Reading
4/15/2015	Senate	Placed on Calendar Order of 3rd Reading April 16, 2015
4/23/2015	Senate	Third Reading - Passed; 055-000-000
4/24/2015	House	Arrived in House
4/24/2015	House	Chief House Sponsor Rep. Lou Lang
4/24/2015	House	First Reading
4/24/2015	House	Referred to Rules Committee
4/29/2015	House	Added Alternate Chief Co-Sponsor Rep. Rita Mayfield
4/30/2015	House	Added Alternate Chief Co-Sponsor Rep. Ron Sandack
4/30/2015	House	Added Alternate Chief Co-Sponsor Rep. Frank J. Mautino
4/30/2015	House	Added Alternate Chief Co-Sponsor Rep. Kenneth Dunkin
4/30/2015	House	Added Alternate Co-Sponsor Rep. Arthur Turner
5/4/2015	House	Assigned to Financial Institutions Committee
5/8/2015	House	Committee Deadline Extended-Rule 9(b) May 15, 2015
5/11/2015	House	Added Alternate Co-Sponsor Rep. Peter Breen
5/14/2015	House	Do Pass / Short Debate Financial Institutions Committee; 020-000-000
5/14/2015	House	Placed on Calendar 2nd Reading - Short Debate
5/18/2015	House	Second Reading - Short Debate
5/18/2015	House	Placed on Calendar Order of 3rd Reading - Short Debate
5/22/2015	House	Final Action Deadline Extended-9(b) May 31, 2015
5/29/2015	House	Third Reading - Short Debate - Passed 113-001-001
5/29/2015	House	Added Alternate Co-Sponsor Rep. Patrick J. Verschoore
5/29/2015	House	Added Alternate Co-Sponsor Rep. Brandon W. Phelps
5/29/2015	House	Added Alternate Co-Sponsor Rep. Daniel V. Beiser
5/29/2015	House	Added Alternate Co-Sponsor Rep. Lawrence Walsh, Jr.
5/29/2015	Senate	Passed Both Houses
6/26/2015	Senate	Sent to the Governor
8/13/2015	Senate	Governor Approved
8/13/2015	Senate	Effective Date August 13, 2015
8/13/2015	Senate	Public Act . . . . . . . . . 99-0362

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