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Public Act 100-0005
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| HB1783 Enrolled | LRB100 05757 SMS 15780 b |
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AN ACT concerning regulation.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Division of Banking Act is amended by |
changing Section 6 as follows:
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(20 ILCS 3205/6) (from Ch. 17, par. 456)
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Sec. 6. Duties. The Commissioner shall direct and supervise |
all the
administrative and technical activities of the Office |
and shall:
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(a) Apply and carry out this Act and the law and all rules |
adopted in
pursuance thereof.
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(b) Appoint, subject to the provisions of the Personnel |
Code, such
employees, experts, and special assistants as may be
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necessary to carry out effectively the provisions of this Act |
and, if the
rate of compensation is not otherwise fixed by law, |
fix their
compensation; but neither the Commissioner nor any |
deputy commissioner shall be
subject to the Personnel Code.
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(c) Serve as Chairman of the State Banking Board of |
Illinois.
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(d) Serve as Chairman of the Board of Trustees of the |
Illinois Bank
Examiners' Education Foundation.
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(e) Issue guidelines in the form of rules or regulations |
which will prohibit
discrimination by any State chartered bank |
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against any individual, corporation,
partnership, association |
or other entity because it appears in a
so-called blacklist |
issued by any domestic or foreign corporate or governmental
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entity.
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(f) Make an annual report to the Governor regarding the |
work of the Office
as the Commissioner may consider desirable |
or as the Governor may request.
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(g) Perform such other acts as may be requested by the |
State Banking
Board
of Illinois pursuant to its lawful powers |
and perform any other lawful act
that the
Commissioner |
considers to be
necessary or desirable to carry out the |
purposes and provisions of this Act.
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(h) Adopt, in accordance with the Illinois Administrative |
Procedure
Act, reasonable rules that the Commissioner deems |
necessary for the proper
administration and enforcement of any |
Act the administration of which is vested
in the Commissioner |
or the Office of Banks and Real Estate. |
(i) Work in cooperation with the Director of Aging to |
encourage all financial institutions regulated by the Office to |
participate fully in the Department on Aging's financial |
exploitation of the elderly intervention program.
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(j) Deposit all funds received, including civil penalties, |
pursuant to the Illinois Banking Act, the Corporate Fiduciary |
Act, and the Illinois Bank Holding Company Act of 1957, and the |
Check Printer and Check Number Act in the Bank and Trust |
Company Fund. |
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(Source: P.A. 97-492, eff. 1-1-12.)
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Section 10. The Electronic Fund Transfer Act is amended by |
changing Section 30 as follows:
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(205 ILCS 616/30)
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Sec. 30. Acceptance of deposits.
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(A) No terminal that accepts deposits of
funds to an
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account may be established or owned in this State except by (a) |
a bank
established under
the laws of this or any other state or |
established under the laws of the United
States that (1) is |
authorized by law to establish a
branch in this State or (2) is |
permitted by rule of the Commissioner to
establish |
deposit-taking terminals in this State in order to maintain
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parity between national banks and banks
established under the |
laws of this or any other state, (b) a savings and loan
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association or savings bank established under the laws of this |
or any other
state or established under the laws of the United |
States, (c) a credit union
established under the laws of this |
or any other state or established under the
laws of the United |
States, or (d) a licensee under the Consumer Installment
Loan
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Act or the Sales Finance Agency Act.
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(B) A person other than a financial institution or an |
affiliate of a
financial institution may establish or own, in |
whole or in part, a
cash-dispensing terminal at
which an |
interchange transaction may be performed, provided that the |
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terminal
does not accept deposits of funds to an account, and |
provided that the person
establishing or owning the terminal |
must post a telephone number on the terminal for consumers to
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call to report problems, along with the Department's telephone |
number. shall file a notice of establishment or
ownership of a |
terminal with the Commissioner, in the form prescribed by the
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Commissioner, within 60 days after the later of (a) the |
effective day of this
amendatory Act of 1997 or (b) the |
establishment of or acquisition of an
ownership interest in the |
terminal. Persons who own a terminal pursuant to
this |
subsection (B) shall thereafter file with the Commissioner a |
full and
accurate statement of information of ownership, in the |
form prescribed by the
Commissioner, once per calendar year. A |
person who has established or owns a
terminal pursuant to this |
subsection (B) shall not be required to file
subsequent notices |
of establishment or ownership of a terminal when
establishing |
or acquiring an ownership interest in additional terminals
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provided the person includes the information required by the |
Commissioner for
those terminals in the person's annual filing |
pursuant to this subsection (B).
The Commissioner or examiners |
appointed by the Commissioner shall have the
authority to |
examine any person that has established or owns a terminal in |
this
State pursuant to this subsection (B) if the Commissioner |
has received multiple
complaints regarding one or more |
terminals owned by the person, and in the
event of such an |
examination, the person shall pay the reasonable costs and
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expenses of the examination as determined by the Commissioner. |
The
Commissioner may impose civil penalties of up to $1,000 |
against any person
subject to this subsection (B) for
the first |
failure to comply with this Act and up to $10,000 for the |
second and
each subsequent failure to comply with this Act. All |
moneys received by the
Commissioner under this subsection (B) |
shall be paid into, and all expenses
incurred by the |
Commissioner under this subsection (B) shall be paid from, the
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Bank and Trust Company Fund.
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(C) A network operating in this
State shall maintain a |
directory of the locations of cash-dispensing terminals
at |
which an interchange transaction may be performed that are |
established or
owned in
this State by its members and shall |
file the directory with the Commissioner
within 60 days after |
the effective date of this amendatory Act of 1997 and
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thereafter once per calendar year.
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(Source: P.A. 89-310, eff. 1-1-96; 90-189, eff. 1-1-98.)
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(205 ILCS 690/Act rep.) |
Section 15. The Check Printer and Check Number Act is |
repealed.
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Section 99. Effective date. This Act takes effect upon |
becoming law.
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