HB1281 100TH GENERAL ASSEMBLY

LRB100 03014 SMS 13019 b

100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB1281

Introduced , by Rep. Michael J. Madigan

SYNOPSIS AS INTRODUCED:

205 ILCS 610/3

from Ch. 17, par. 1003

Amends the Banking Emergencies Act. Makes a technical change in a Section relating to notice to the Commissioner of Banks and Real Estate.

A BILL FOR

AN ACT concerning regulation.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Banking Emergencies Act is amended by changing Section 3 as follows:

(205 ILCS 610/3) (from Ch. 17, par. 1003)

Sec. 3. Notice to Commissioner and and the Public. A bank closing an office or offices pursuant to the authority granted herein under this Act shall give as prompt notice of its action as conditions will permit and by any means available, to the Commissioner, or in the case of a national bank, to the Comptroller of the Currency. In addition the bank shall post notice of the temporary closing and the authorization for the closing on the main entrance doors of the bank affected.

(Source: P.A. 77-1782.)