IL HB5428 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Bipartisan Bill
Status: Engrossed on May 2 2024 - 50% progression
Action: 2024-05-25 - Rule 2-10 Committee/3rd Reading Deadline Established As May 26, 2024
Text: Latest bill text (Engrossed) [HTML]
Status: Engrossed on May 2 2024 - 50% progression
Action: 2024-05-25 - Rule 2-10 Committee/3rd Reading Deadline Established As May 26, 2024
Text: Latest bill text (Engrossed) [HTML]
Summary
Amends the Illinois Banking Act. Provides that a bank may provide data processing services to a person for profit. Provides that a bank may invest in commodities derivatives, with the management and controls necessary to ensure that such activities are carried out according to safe and sound banking practices. Provides that the board of directors of a bank may provide by resolution that stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that at the conclusion of each fiscal year, the Department of Financial and Professional Regulation shall separately identify the direct administrative and operational expenses and allocable indirect costs of the Division of Banking of the Department incidental to conducting the examinations required or authorized by the Illinois Community Reinvestment Act and implementing rules adopted by the Department. Makes other changes. Amends the Savings Bank Act. Provides that the board of directors of a savings bank may provide by resolution that members or stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a savings bank may loan funds through the purchase of fixed rate annuity contracts. Provides that a savings bank may accept deposits made by a minor and may open an account in the name of such minor and the rules and regulations of such savings bank with respect to each such deposit and account shall be as binding upon such minor as if such minor were of full age and legal capacity. Provides that without prior written consent of the Secretary of Financial and Professional Regulation, no savings bank may knowingly employ or otherwise permit an individual to serve as an officer, director, employee, or agent of the savings bank if the individual has been convicted of a felony or of any criminal offense relating to dishonesty or breach of trust. Amends the Illinois Credit Union Act. In provisions concerning the financial records of credit union members, adds language providing that the furnishing of financial records of a deceased customer to a public administrator of any county or other governmental jurisdiction for the purpose of facilitating burial of the customer are not prohibited by the provisions. Makes similar changes in similar provisions in the Illinois Banking Act and the Savings Bank Act. Makes changes to various provisions concerning notice to allow for electronic notice. Makes other changes. Effective immediately.
Title
BANKING-VARIOUS
Sponsors
Roll Calls
2024-05-02 - House - Third Reading in House (Y: 110 N: 0 NV: 2 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-05-25 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 26, 2024 |
| 2024-05-24 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 25, 2024 |
| 2024-05-21 | Senate | Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions |
| 2024-05-20 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 24, 2024 |
| 2024-05-20 | Senate | Senate Committee Amendment No. 1 Referred to Assignments |
| 2024-05-20 | Senate | Senate Committee Amendment No. 1 Filed with Secretary by Sen. Cristina Castro |
| 2024-05-20 | Senate | Re-assigned to Financial Institutions |
| 2024-05-17 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2024-05-14 | Senate | Alternate Chief Sponsor Changed to Sen. Cristina Castro |
| 2024-05-10 | Senate | Rule 2-10 Committee Deadline Established As May 17, 2024 |
| 2024-05-07 | Senate | Added as Alternate Co-Sponsor Sen. Sue Rezin |
| 2024-05-07 | Senate | Rule 2-10 Committee Deadline Established As May 10, 2024 |
| 2024-05-07 | Senate | Assigned to Financial Institutions |
| 2024-05-02 | Senate | Referred to Assignments |
| 2024-05-02 | Senate | First Reading |
| 2024-05-02 | Senate | Chief Senate Sponsor Sen. Mary Edly-Allen |
| 2024-05-02 | Senate | Placed on Calendar Order of First Reading |
| 2024-05-02 | Senate | Arrive in Senate |
| 2024-05-02 | House | Added Co-Sponsor Rep. Adam M. Niemerg |
| 2024-05-02 | House | Third Reading - Short Debate - Passed 110-000-000 |
| 2024-05-02 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2024-05-02 | House | House Floor Amendment No. 2 Adopted |
| 2024-05-02 | House | House Floor Amendment No. 1 Adopted |
| 2024-04-24 | House | Third Reading Deadline Extended-Rule May 24, 2024 |
| 2024-04-24 | House | House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 005-000-000 |
| 2024-04-24 | House | House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 005-000-000 |
| 2024-04-24 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2024-04-24 | House | Approved for Consideration Rules Committee; 005-000-000 |
| 2024-04-19 | House | House Floor Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee |
| 2024-04-19 | House | House Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee |
| 2024-04-19 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2024-04-19 | House | House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 005-000-000 |
| 2024-04-19 | House | House Floor Amendment No. 2 Referred to Rules Committee |
| 2024-04-19 | House | House Floor Amendment No. 2 Filed with Clerk by Rep. Dagmara Avelar |
| 2024-04-18 | House | House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 012-000-000 |
| 2024-04-18 | House | House Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee |
| 2024-04-17 | House | Held on Calendar Order of Second Reading - Short Debate |
| 2024-04-17 | House | Second Reading - Short Debate |
| 2024-04-17 | House | House Floor Amendment No. 1 Referred to Rules Committee |
| 2024-04-17 | House | House Floor Amendment No. 1 Filed with Clerk by Rep. Dagmara Avelar |
| 2024-04-03 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2024-04-02 | House | Do Pass / Short Debate Financial Institutions and Licensing Committee; 007-001-003 |
| 2024-02-28 | House | Assigned to Financial Institutions and Licensing Committee |
| 2024-02-09 | House | Referred to Rules Committee |
| 2024-02-09 | House | First Reading |
| 2024-02-09 | House | Filed with the Clerk by Rep. Dagmara Avelar |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 205 | 205 | 1007.100 | Repealed Code | Citation Text |
| 205 | 205 | 1008 | Amended Code | Citation Text |
| 205 | 205 | 11008 | Amended Code | Citation Text |
| 205 | 205 | 11011 | Repealed Code | Citation Text |
| 205 | 205 | 4002 | Amended Code | Citation Text |
| 205 | 205 | 4003 | Amended Code | Citation Text |
| 205 | 205 | 4013 | Amended Code | Citation Text |
| 205 | 205 | 6002 | Amended Code | Citation Text |
| 205 | 205 | 7005 | Amended Code | Citation Text |
| 205 | 205 | 8002 | Amended Code | Citation Text |
| 205 | 205 | 8016 | Amended Code | Citation Text |
| 205 | 5 | 13 | Amended Code | Citation Text |
| 205 | 5 | 14 | Amended Code | Citation Text |
| 205 | 5 | 15 | Amended Code | Citation Text |
| 205 | 5 | 16 | Amended Code | Citation Text |
| 205 | 5 | 16.5 | Amended Code | Citation Text |
| 205 | 5 | 2 | Amended Code | Citation Text |
| 205 | 5 | 20 | Amended Code | Citation Text |
| 205 | 5 | 32.1 | Amended Code | Citation Text |
| 205 | 5 | 40 | Amended Code | Citation Text |
| 205 | 5 | 48 | Amended Code | Citation Text |
| 205 | 5 | 48.1 | Amended Code | Citation Text |
| 205 | 5 | 48.2 | Amended Code | Citation Text |
| 205 | 5 | 49 | Amended Code | Citation Text |
| 205 | 5 | 5 | Amended Code | Citation Text |
| 205 | 5 | 78 | Amended Code | Citation Text |
| 205 | 5 | 80 | Amended Code | Citation Text |
