IL SB3787 | 2021-2022 | 102nd General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on May 13 2022 - 100% progression
Action: 2022-05-13 - Public Act . . . . . . . . . 102-0858
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on May 13 2022 - 100% progression
Action: 2022-05-13 - Public Act . . . . . . . . . 102-0858
Text: Latest bill text (Chaptered) [HTML]
Summary
Amends the Illinois Credit Union Act. In provisions concerning reports and examinations, provides that one or more credit unions may be examined less frequently than biennially upon the Secretary of Financial and Professional Regulation's written statement. Provides that the Secretary's written statement shall include a finding that good cause exists; a finding that there is no reasonable expectation that harm to members will result; and, to the extent reasonable under the circumstances, identification of the affected credit unions and the expected frequency of examination. Provides that a written statement made pursuant to the provisions may be superseded by a subsequent statement. Provides that the Secretary is not required to conduct examinations that the Secretary would have been required to conduct but for a written statement. Provides that the written statement shall not be confidential supervisory information except to the extent it names or permits the identification of specific credit unions. Provides that the Secretary may accept an examination from the National Credit Union Administration or a private insurer instead of an examination conducted by the Department of Financial and Professional Regulation or by a public accountant registered by the Department. Provides that upon amendment of a credit union's bylaws (rather than upon amendment of a credit union's bylaws approved by the members), in all elections for directors, every member who is a natural person shall have the right to cast one vote in person, by proxy, or by secure electronic record if approved by the board of directors, for as many persons as there are directors to be elected. Changes a reference from "categories" to "investment grades". Makes other changes. Effective immediately.
Title
CREDIT UNIONS-BIENNIAL EXAM
Sponsors
Roll Calls
2022-03-31 - House - Third Reading in House (Y: 112 N: 0 NV: 2 Abs: 1) [PASS]
2022-02-24 - Senate - Third Reading in Senate (Y: 53 N: 0 NV: 5 Abs: 0) [PASS]
2022-02-24 - Senate - Third Reading in Senate (Y: 53 N: 0 NV: 5 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2022-05-13 | Senate | Public Act . . . . . . . . . 102-0858 |
| 2022-05-13 | Senate | Effective Date May 13, 2022 |
| 2022-05-13 | Senate | Governor Approved |
| 2022-04-30 | Senate | Chief Sponsor Changed to Sen. Don Harmon |
| 2022-04-29 | Senate | Sent to the Governor |
| 2022-03-31 | Senate | Passed Both Houses |
| 2022-03-31 | House | Third Reading - Short Debate - Passed 112-000-000 |
| 2022-03-23 | House | Added Alternate Chief Co-Sponsor Rep. Maurice A. West, II |
| 2022-03-23 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2022-03-23 | House | Second Reading - Short Debate |
| 2022-03-16 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2022-03-15 | House | Do Pass / Short Debate Financial Institutions Committee; 011-000-000 |
| 2022-03-07 | House | Assigned to Financial Institutions Committee |
| 2022-03-01 | House | Referred to Rules Committee |
| 2022-03-01 | House | First Reading |
| 2022-02-28 | House | Chief House Sponsor Rep. Jonathan Carroll |
| 2022-02-25 | House | Arrived in House |
| 2022-02-24 | Senate | Third Reading - Passed; 053-000-000 |
| 2022-02-24 | Senate | Placed on Calendar Order of 3rd Reading |
| 2022-02-24 | Senate | Senate Floor Amendment No. 1 Adopted; Connor |
| 2022-02-24 | Senate | Recalled to Second Reading |
| 2022-02-23 | Senate | Senate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 007-000-000 |
| 2022-02-23 | Senate | Placed on Calendar Order of 3rd Reading February 24, 2022 |
| 2022-02-23 | Senate | Second Reading |
| 2022-02-22 | Senate | Senate Floor Amendment No. 1 Assignments Refers to Financial Institutions |
| 2022-02-18 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
| 2022-02-18 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. John Connor |
| 2022-02-10 | Senate | Placed on Calendar Order of 2nd Reading February 15, 2022 |
| 2022-02-10 | Senate | Do Pass Financial Institutions; 006-000-000 |
| 2022-02-01 | Senate | Assigned to Financial Institutions |
| 2022-01-21 | Senate | Referred to Assignments |
| 2022-01-21 | Senate | First Reading |
| 2022-01-21 | Senate | Filed with Secretary by Sen. John Connor |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 205 | 305 | 20 | Amended Code | Citation Text |
| 205 | 305 | 59 | Amended Code | Citation Text |
| 205 | 305 | 8 | Amended Code | Citation Text |
| 205 | 305 | 9 | Amended Code | Citation Text |
