House Sponsors: LINDNER-LYONS,EILEEN-MCCARTHY-BLACK-MEYER. Senate Sponsors: PARKER-LIGHTFORD Short description: BNK ACT-METRO TRANST AUTHORITY Synopsis of Bill as introduced: Amends the Illinois Banking Act. Provides that banks shall encumber or surrender accounts or assets held by the bank on behalf of any responsible relative who is subject to a child support lien upon notice of an "interstate lien or levy" (instead of just "interstate lien") from any other state's agency that is responsible for implementing the child support enforcement program. Effective immediately. SENATE AMENDMENT NO. 1. Adds reference to: 70 ILCS 3605/25 from Ch. 111 2/3, par. 325 205 ILCS 5/5 from Ch. 17, par. 311 205 ILCS 5/18 from Ch. 17, par. 325 205 ILCS 5/46 from Ch. 17, par. 357 205 ILCS 105/1-6d 205 ILCS 205/7007 205 ILCS 205/8015 from Ch. 17, par. 7308-15 205 ILCS 605/3.5 new 205 ILCS 616/20 205 ILCS 616/45 205 ILCS 620/3-2 from Ch. 17, par. 1553-2 205 ILCS 620/4A-15 205 ILCS 620/5-2 from Ch. 17, par. 1555-2 Changes the title. Amends the Metropolitan Transit Authority Act. Adds savings banks to the list of entities in which the treasurer may deposit funds or make withdrawals. Amends the Illinois Savings and Loan Act of 1985 and the Savings Bank Act to provide that savings and loan associations and savings banks shall encumber or surrender accounts or assets held on behalf of any responsible relative who is subject to a child support lien upon notice of an "interstate lien or levy" (instead of just "interstate lien") from any other state's agency that is responsible for implementing the child support enforcement program. Amends the Savings Bank Act to remove the time limits on the Commissioner to issue a decision or request additional information for applications for the change of control. Amends the Illinois Banking Act. Requires banks to notify the Commissioner of Banks and Real Estate not less than 30 days before engaging in an activity based upon the authorization of that activity for out-of-state banks by law applicable to the out-of-state bank. Provides that the term "control" means the power to direct the management of a bank or vote 25% or more of the outstanding stock of the banks. Amends the Consumer Deposit Account Act to require financial institutions to provide notice to account holders at least 30 days before invalidating any routing number on a consumer deposit account. Amends the Electronic Fund Transfer Act. Removes the requirement that disputes arising under written agreements for use of terminals and switches be subject to arbitration by the Commissioner of Banks and Real Estate. Removes the Commissioner's duty and power to conduct that arbitration. Amends the Corporate Fiduciary Act. Provides that the term "control" means the power to direct management of a trust company or to vote 25% or more of the outstanding stock of the trust company. Provides that the Commissioner of Banks and Real Estate may accept an examination of a trust company made by a federal regulatory agency instead of conducting an examination. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 92-0811 Last action date: AUG-21-2002 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status