Sen. Terry Link

Filed: 5/1/2007

 

 


 

 


 
09500HB0497sam001 LRB095 05354 MJR 35715 a

1
AMENDMENT TO HOUSE BILL 497

2     AMENDMENT NO. ______. Amend House Bill 497 on page 2, by
3 replacing lines 2 through 9 with the following:
4     "(b) Notwithstanding any other provision of this Act, no
5 bank may establish a bank office or branch on or adjacent to
6 the premises of an affiliate of the bank if the affiliate
7 engages in any commercial activity that could not lawfully be
8 conducted by a bank holding company, a financial holding
9 company, or a subsidiary of the bank holding company or
10 financial holding company pursuant to federal law unless: (i)
11 the bank had received its charter and was accepting deposits in
12 this State prior to the effective date of this amendatory Act
13 of the 95th General Assembly; or (ii) the bank does not accept
14 or retain any deposits at the bank office or branch at any time
15 after the effective date of this amendatory Act of the 95th
16 General Assembly."; and
 
17 on page 3, by replacing lines 16 through 23 with the following:

 

 

09500HB0497sam001 - 2 - LRB095 05354 MJR 35715 a

1     "(b) Notwithstanding any other provision of this Act, no
2 savings bank may establish an office or branch on or adjacent
3 to the premises of an affiliate of the savings bank if the
4 affiliate engages in any commercial activity that could not
5 lawfully be conducted by a savings bank holding company or a
6 subsidiary of the savings bank holding company pursuant to
7 federal law unless: (i) the savings bank had received its
8 charter and was accepting deposits in this State prior to the
9 effective date of this amendatory Act of the 95th General
10 Assembly; or (ii) the savings bank does not accept or retain
11 any deposits at the office or branch at any time after the
12 effective date of this amendatory Act of the 95th General
13 Assembly.".