IL HB5342 | 2013-2014 | 98th General Assembly

Status

Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on July 24 2014 - 100% progression
Action: 2014-07-24 - Public Act . . . . . . . . . 98-0784
Text: Latest bill text (Chaptered) [HTML]

Summary

Amends the Illinois Credit Union Act. Defines "charitable donation account" and provides that a credit union may establish one or more charitable donation accounts that must comply with the requirements of the Act. Further provides that the investments and purchases to fund a charitable donation account are not subject to the investment limitations of the Act and that the aggregate book value of the investments in all charitable donation accounts shall not exceed 5% of the credit union's net worth. Adds provisions establishing the procedural requirements of the Department of Financial and Professional Regulation's examination process and prescribes the requirements of the Department's examination reports. Provides that each member of the board of directors of a credit union shall have a working familiarity with basic finance and accounting practices consistent with the size and complexity of the credit union they serve. Further provides that members of the supervisory committee of a credit union shall receive training related to their duties under the Act and establishes the acceptable forms of such training. Provides that, for a renewal, refinancing, or restructuring of an existing loan that is secured by an interest in real estate, a new appraisal of the collateral shall not be required under certain circumstances. Additionally provides that a credit union may act as a representative of and enter into an agreement with other credit unions or organizations for certain purposes. Generally effective immediately, but some provisions take effect on January 1, 2015.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

CREDIT UNION-EXAMINATIONS

Sponsors


Roll Calls

2014-05-30 - House - Concurrence in House (Y: 108 N: 0 NV: 3 Abs: 2) [PASS]
2014-05-28 - Senate - Third Reading in Senate (Y: 56 N: 0 NV: 3 Abs: 0) [PASS]
2014-03-21 - House - Third Reading in House (Y: 109 N: 0 NV: 1 Abs: 1) [PASS]

History

DateChamberAction
2014-07-24HousePublic Act . . . . . . . . . 98-0784
2014-07-24HouseEffective Date July 24, 2014
2014-07-24HouseGovernor Approved
2014-06-27HouseSent to the Governor
2014-05-30HousePassed Both Houses
2014-05-30HouseHouse Concurs
2014-05-30HouseSenate Floor Amendment No. 1 House Concurs 108-000-001
2014-05-29HouseSenate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 004-000-000
2014-05-28HouseSenate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee
2014-05-28HouseSenate Floor Amendment No. 1 Motion Filed Concur Rep. Lou Lang
2014-05-28HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1
2014-05-28HouseArrived in House
2014-05-28SenateThird Reading - Passed; 056-000-000
2014-05-28SenateAdded as Alternate Chief Co-Sponsor Sen. Pamela J. Althoff
2014-05-28SenatePlaced on Calendar Order of 3rd Reading
2014-05-28SenateSenate Floor Amendment No. 1 Adopted; Holmes
2014-05-28SenateRecalled to Second Reading
2014-05-27SenateSenate Floor Amendment No. 1 Be Approved for Consideration Assignments
2014-05-26SenateSenate Floor Amendment No. 1 Referred to Assignments
2014-05-26SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Linda Holmes
2014-05-23SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2014
2014-05-22SenateAdded as Alternate Chief Co-Sponsor Sen. Linda Holmes
2014-05-08SenatePlaced on Calendar Order of 3rd Reading May 12, 2014
2014-05-08SenateSecond Reading
2014-05-07SenatePlaced on Calendar Order of 2nd Reading May 8, 2014
2014-05-07SenateDo Pass Financial Institutions; 007-000-000
2014-04-30SenateAssigned to Financial Institutions
2014-04-04SenateAdded as Alternate Co-Sponsor Sen. Antonio Muñoz
2014-03-27SenateReferred to Assignments
2014-03-27SenateFirst Reading
2014-03-27SenateChief Senate Sponsor Sen. David Koehler
2014-03-21SenatePlaced on Calendar Order of First Reading March 25, 2014
2014-03-21SenateArrive in Senate
2014-03-21HouseThird Reading - Short Debate - Passed 109-000-001
2014-03-19HousePlaced on Calendar Order of 3rd Reading - Short Debate
2014-03-19HouseSecond Reading - Short Debate
2014-03-05HousePlaced on Calendar 2nd Reading - Short Debate
2014-03-04HouseDo Pass as Amended / Short Debate Financial Institutions Committee; 015-000-000
2014-03-04HouseHouse Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
2014-03-03HouseHouse Committee Amendment No. 1 Rules Refers to Financial Institutions Committee
2014-02-26HouseHouse Committee Amendment No. 1 Referred to Rules Committee
2014-02-26HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang
2014-02-21HouseAdded Chief Co-Sponsor Rep. Michael Unes
2014-02-21HouseChief Co-Sponsor Changed to Rep. David R. Leitch
2014-02-21HouseAdded Chief Co-Sponsor Rep. David R. Leitch
2014-02-20HouseAssigned to Financial Institutions Committee
2014-02-13HouseAdded Co-Sponsor Rep. Rich Brauer
2014-02-10HouseReferred to Rules Committee
2014-02-10HouseFirst Reading
2014-02-10HouseFiled with the Clerk by Rep. Lou Lang

Code Citations

ChapterArticleSectionCitation TypeStatute Text
2053051.1Amended CodeCitation Text
20530530Amended CodeCitation Text
20530534Amended CodeCitation Text
20530539Amended CodeCitation Text
20530546Amended CodeCitation Text
20530557.1New CodeSee Bill Text
2053059Amended CodeCitation Text

Illinois State Sources


Bill Comments

feedback