Bill Title: Amends the Illinois Credit Union Act. Provides that an acquiring credit union shall be liable for a fee equal to 10% of the book value of the assets or liabilities, whichever is greater, of a bank that has been purchased by the credit union. Provides that the provision applies to all banks, savings banks, savings and loan associations, and credit unions chartered or holding a certificate of authority to do business under the laws of this State or any other state or under the laws of the United States. Defines "book value of the assets or liabilities of a bank".

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-02-10 - Rule 3-9(a) / Re-referred to Assignments [SB3119 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Brian Stewart [R]	Primary	Sponsored Bills	SD-045	FollowTheMoney	Ballotpedia	VoteSmart

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