HB0497sam001 95TH GENERAL ASSEMBLY

Sen. Terry Link

Filed: 5/1/2007

09500HB0497sam001 LRB095 05354 MJR 35715 a

AMENDMENT TO HOUSE BILL 497

AMENDMENT NO. ______. Amend House Bill 497 on page 2, by replacing lines 2 through 9 with the following:

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

on page 3, by replacing lines 16 through 23 with the following:

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