Illinois General Assembly - Bill Status for HB2425
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 Bill Status of HB2425  93rd General Assembly

Short Description:  CURRENCY EXCHANGE BLANKET BOND

House Sponsors
Rep. Ralph C. Capparelli - Joseph M. Lyons - Richard T. Bradley - Angelo Saviano

Senate Sponsors
(Sen. John J. Cullerton and Dan Rutherford)

Last Action
DateChamber Action
  12/3/2003HousePublic Act . . . . . . . . . 93-0614

Statutes Amended In Order of Appearance
205 ILCS 405/5from Ch. 17, par. 4812


Synopsis As Introduced
Amends the Currency Exchange Act. Provides that community currency exchanges may meet their bonding requirements by means of a blanket bond that covers currency exchanges that are members of a statewide association. Requires the bond to be in a principal amount of $2,000,000. Effective immediately.

Governor Amendatory Veto Message
Recommends that the language be replaced with language providing that a community currency exchange may meet its bonding requirement by annually submitting evidence that the community currency exchange licensee is covered by a blanket bond approved by the Director of Financial Institutions. Provides guidelines for the blanket bond, including that it shall not be less than $10,000 nor less than the total of the outstanding liabilities of each licensee covered by the bond.

Actions 
DateChamber Action
  2/20/2003HouseFiled with the Clerk by Rep. Ralph C. Capparelli
  2/20/2003HouseChief Co-Sponsor Rep. Joseph M. Lyons
  2/20/2003HouseChief Co-Sponsor Rep. Richard T. Bradley
  2/20/2003HouseChief Co-Sponsor Rep. Angelo Saviano
  2/20/2003HouseFirst Reading
  2/20/2003HouseReferred to Rules Committee
  2/26/2003HouseAssigned to Executive Committee
  3/5/2003HouseRe-assigned to Financial Institutions Committee
  3/13/2003HouseDo Pass / Short Debate Financial Institutions Committee; 018-000-000
  3/13/2003HousePlaced on Calendar 2nd Reading - Short Debate
  3/13/2003HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Ralph C. Capparelli
  3/13/2003HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  3/18/2003HouseSecond Reading - Short Debate
  3/18/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/26/2003HouseThird Reading - Short Debate - Passed 116-000-000
  3/27/2003SenateArrive in Senate
  3/27/2003SenatePlaced on Calendar Order of First Reading April 2, 2003
  3/27/2003SenateChief Senate Sponsor Sen. John J. Cullerton
  4/2/2003SenateFirst Reading
  4/2/2003SenateReferred to Rules
  4/16/2003SenateAssigned to Financial Institutions
  4/30/2003SenateAdded as Alternate Co-Sponsor Sen. Dan Rutherford
  5/1/2003SenateDo Pass Financial Institutions; 009-000-000
  5/1/2003SenatePlaced on Calendar Order of 2nd Reading May 6, 2003
  5/6/2003SenateSecond Reading
  5/6/2003SenatePlaced on Calendar Order of 3rd Reading May 7, 2003
  5/15/2003SenateThird Reading - Passed; 058-000-000
  5/15/2003HousePassed Both Houses
  6/13/2003HouseSent to the Governor
  8/12/2003HouseGovernor Amendatory Veto
  10/23/2003HousePlaced on Calendar Amendatory Veto November 4, 2003
  10/30/2003HouseMotion Filed Override Amendatory Veto Rep. Ralph C. Capparelli
  11/4/2003House3/5 Vote Required
  11/4/2003HouseOverride Amendatory Veto - House Passed 112-001-003
  11/6/2003SenatePlaced on Calendar Amendatory Veto November 18, 2003
  11/6/2003SenateMotion Filed Override Amendatory Veto Sen. John J. Cullerton
  11/18/2003Senate3/5 Vote Required
  11/18/2003SenateOverride Amendatory Veto - Senate Passed 058-000-000
  11/18/2003HouseAmendatory Veto Overridden Both Houses
  12/3/2003HouseEffective Date November 18, 2003
  12/3/2003HousePublic Act . . . . . . . . . 93-0614

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