Public Act 100-0661
 
SB0331 EnrolledLRB100 05117 RJF 15127 b


  
    AN ACT concerning regulation.
  
 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:
  
 
    Section 5. The Electronic Fund Transfer Act is amended  by 
changing Section 30 as follows:
 



    (205 ILCS 616/30)



    Sec. 30. Acceptance of deposits. 

    (A) No terminal that accepts deposits of
funds to an

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

parity between national banks and banks
established under the 
laws of this or any other state, (b) a savings and loan

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

Act or the Sales Finance Agency Act.

    (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 
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

call to report problems, along with the Department's telephone 
number.
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
expenses of the examination 
as determined by the Commissioner.  The
Commissioner may impose 
civil penalties of up to $100 $1,000 against any person
subject 
to this subsection (B) for each
the first failure to comply 
with this Act but in no event shall any person be subject to 
civil penalties under this subsection (B) of more than $1,000 
for violations of this subsection (B) 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

Bank and Trust Company Fund.

    (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

thereafter once per calendar year.

(Source: P.A. 100-5, eff. 6-30-17.)

 

    Section 99. Effective date. This Act takes effect upon 
becoming law.


Effective Date:  8/1/2018