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90_HB2277
205 ILCS 5/3 from Ch. 17, par. 309
Amends the Illinois Banking Act. Makes a technical
change in a Section relating to formation and powers.
LRB9004339JSfg
LRB9004339JSfg
1 AN ACT to amend the Illinois Banking Act by changing
2 Section 3.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Banking Act is amended by
6 changing Section 3 as follows:
7 (205 ILCS 5/3) (from Ch. 17, par. 309)
8 Sec. 3. Formation and primary powers. It shall be lawful
9 to form banks, as herein provided in this Act, for the
10 purpose of discount and deposit, buying and selling exchange
11 and doing a general banking business, excepting the issuing
12 of bills to circulate as money; and such banks shall have the
13 power to loan money on personal and real estate security, and
14 to accept and execute trusts upon obtaining a certificate of
15 authority pursuant to the "Corporate Fiduciary Act", and
16 shall be subject to all of the provisions of this Act.
17 (Source: P.A. 85-1402.)