Full Text of HB3109 95th General Assembly
HB3109 95TH GENERAL ASSEMBLY
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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 HB3109
Introduced 2/26/2007, by Rep. Tom Cross SYNOPSIS AS INTRODUCED: |
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Amends the Illinois Finance Authority Act. Makes a technical change in a
Section concerning definitions.
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A BILL FOR
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HB3109 |
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LRB095 06196 RCE 26290 b |
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| AN ACT concerning State government.
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| Be it enacted by the People of the State of Illinois, | 3 |
| represented in the General Assembly:
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| Section 5. The Illinois Finance Authority Act is amended by | 5 |
| changing Section 805-10 as follows:
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| (20 ILCS 3501/805-10)
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| Sec. 805-10. Definitions. The
The following terms, | 8 |
| whenever used or referred
to in this Article, shall have the | 9 |
| following meanings ascribed to them, except
where the context | 10 |
| clearly requires otherwise: | 11 |
| (a) "Financial Institution" means a financial institution | 12 |
| which is a trust
company, a bank, a savings bank, a credit | 13 |
| union, an investment bank, a broker,
an investment trust, a | 14 |
| pension fund, a building and loan association, a savings
and | 15 |
| loan association, an insurance company, or any other | 16 |
| institution acceptable
to the Authority, authorized to do | 17 |
| business in the State and approved by the
Authority to insure | 18 |
| bonds or loans for industrial projects authorized by this
Act.
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| (b) "Participating lender" means any trust company, bank, | 20 |
| savings bank,
credit
union, investment bank, broker, | 21 |
| investment trust, pension fund, building and
loan association, | 22 |
| savings and loan association, insurance company or other
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| institution approved by the Authority which assumes a portion |
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HB3109 |
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LRB095 06196 RCE 26290 b |
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| of the risk on a
loan for an industrial project as provided in
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| Section 805-30 of this Act.
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| (Source: P.A. 93-205, eff. 1-1-04.)
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