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90_SB0406sam001
LRB9003070JSccam
1 AMENDMENT TO SENATE BILL 406
2 AMENDMENT NO. . Amend Senate Bill 406 on page 1,
3 lines 2 and 7, by changing "20" each time it appears to "20,
4 21"; and
5 on page 1, by replacing lines 23 through 29 with the
6 following:
7 ""Financial institution" means (i) any bank subject to
8 the Illinois Banking Act, any savings bank subject to the
9 Savings Bank Act, any savings and loan association subject to
10 the Illinois Savings and Loan Act of 1985, or any credit
11 union subject to the Illinois Credit Union Act; (ii) and any
12 federally chartered commercial bank, savings bank, or savings
13 and loan association, or credit union organized and operated
14 in this State under the laws of the United States; and (iii)
15 any business corporation, limited liability company, business
16 trust, partnership, joint venture, or other entity that is
17 directly or indirectly at least 50% owned by or commonly
18 owned with a financial institution."; and
19 on page 2, by inserting immediately below line 31 the
20 following:
21 "(205 ILCS 690/21 new)
22 Sec. 21. Fees. All moneys received by the Commissioner
-2- LRB9003070JSccam
1 under this Act shall be paid into, and all expenses incurred
2 by the Commissioner under this Act shall be paid from, the
3 Bank and Trust Company Fund. The Commissioner may prescribe
4 and assess reasonable fees to be paid by registrants to
5 recover the costs of administering this Act.".