96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB2163

 

Introduced 2/20/2009, by Sen. Christine Radogno

 

SYNOPSIS AS INTRODUCED:
 
205 ILCS 205/6014   from Ch. 17, par. 7306-14

    Amends the Savings Bank Act. Makes a technical change in a Section concerning rules and regulations of the Commissioner of Banks and Real Estate.


LRB096 11517 WGH 21998 b

 

 

A BILL FOR

 

SB2163 LRB096 11517 WGH 21998 b

1     AN ACT concerning regulation.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Savings Bank Act is amended by changing
5 Section 6014 as follows:
 
6     (205 ILCS 205/6014)  (from Ch. 17, par. 7306-14)
7     Sec. 6014. Commissioner's regulations.
8     (a) The The Commissioner shall promulgate rules and
9 regulations to determine permissible levels of investment and
10 permissible concentrations of assets for savings banks
11 applicable to all lending and investment authority granted by
12 this Article 6. The rules and regulations shall give due regard
13 to capital adequacy, operating income, underwriting standards,
14 risk inherent in the investment or loan, and competitive parity
15 with other financial institutions.
16     (b) Violations of any of the provisions of this Article 6
17 shall constitute an unsafe and unsound practice and may subject
18 the savings bank, its directors, officers, or agents to
19 enforcement actions, civil money penalties, or other sanctions
20 as provided in this Act.
21 (Source: P.A. 86-1213.)