Senate Sponsors: RAUSCHENBERGER. House Sponsors: CHURCHILL-WOOD-HUGHES-ERWIN-GASH Short description: CHECK PRINTER REGULATION Synopsis of Bill as introduced: Amends the Check Number Act. Changes the short title to the Check Printer and Check Number Act. Provides that persons not affiliated with a financial institution and engaged in the business of printing checks must register with the Commissioner of Banks and Real Estate. Requires these check printers to verify the name, address, telephone number, and social security number of check purchasers and to refuse to distribute ordered checks if the information cannot be verified. Requires these check printers to post a bond. Creates a civil cause of action for persons damaged by a check printer's failure to verify. Authorizes minimum damages of $1,000 plus attorneys' fees. Provides that making a false statement on the registration form is a Class 3 felony. Effective immediately. SENATE AMENDMENT NO. 1. Adds reference to: 205 ILCS 690/21 new Amends the Check Number Act. Expands the definition of "financial institution" to include credit unions and entities of which at least 50% is owned by a financial institution. Authorizes the Commissioner to impose and collect fees. FISCAL NOTE, S-AM 1 (Office of Banks & Real Estate) The number of entities which would need to register under SB406 is not known, but if one assumes that 200 check printers would be registered, OBRE estimates start-up costs of about $25,000, plus annual expenditures of $10,000 to contact regis- trants, maintain files, print forms, issue certificates and monitor compliance with bonding requirements. The bill autho- rizes the Commissioner to impose and collect fees for the ad- ministration of the Act. Last action on Bill: PUBLIC ACT.............................. 90-0184 Last action date: 97-07-23 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status