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Public Act 100-0005


 

Public Act 0005 100TH GENERAL ASSEMBLY

  
  
  

 


 
Public Act 100-0005
 
HB1783 EnrolledLRB100 05757 SMS 15780 b

    AN ACT concerning regulation.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Division of Banking Act is amended by
changing Section 6 as follows:
 
    (20 ILCS 3205/6)  (from Ch. 17, par. 456)
    Sec. 6. Duties. The Commissioner shall direct and supervise
all the administrative and technical activities of the Office
and shall:
    (a) Apply and carry out this Act and the law and all rules
adopted in pursuance thereof.
    (b) Appoint, subject to the provisions of the Personnel
Code, such employees, experts, and special assistants as may be
necessary to carry out effectively the provisions of this Act
and, if the rate of compensation is not otherwise fixed by law,
fix their compensation; but neither the Commissioner nor any
deputy commissioner shall be subject to the Personnel Code.
    (c) Serve as Chairman of the State Banking Board of
Illinois.
    (d) Serve as Chairman of the Board of Trustees of the
Illinois Bank Examiners' Education Foundation.
    (e) Issue guidelines in the form of rules or regulations
which will prohibit discrimination by any State chartered bank
against any individual, corporation, partnership, association
or other entity because it appears in a so-called blacklist
issued by any domestic or foreign corporate or governmental
entity.
    (f) Make an annual report to the Governor regarding the
work of the Office as the Commissioner may consider desirable
or as the Governor may request.
    (g) Perform such other acts as may be requested by the
State Banking Board of Illinois pursuant to its lawful powers
and perform any other lawful act that the Commissioner
considers to be necessary or desirable to carry out the
purposes and provisions of this Act.
    (h) Adopt, in accordance with the Illinois Administrative
Procedure Act, reasonable rules that the Commissioner deems
necessary for the proper administration and enforcement of any
Act the administration of which is vested in the Commissioner
or the Office of Banks and Real Estate.
    (i) Work in cooperation with the Director of Aging to
encourage all financial institutions regulated by the Office to
participate fully in the Department on Aging's financial
exploitation of the elderly intervention program.
    (j) Deposit all funds received, including civil penalties,
pursuant to the Illinois Banking Act, the Corporate Fiduciary
Act, and the Illinois Bank Holding Company Act of 1957, and the
Check Printer and Check Number Act in the Bank and Trust
Company Fund.
(Source: P.A. 97-492, eff. 1-1-12.)
 
    Section 10. The Electronic Fund Transfer Act is amended by
changing Section 30 as follows:
 
    (205 ILCS 616/30)
    Sec. 30. Acceptance of deposits.
    (A) No terminal that accepts deposits of funds to an
account may be established or owned in this State except by (a)
a bank established under the laws of this or any other state or
established under the laws of the United States that (1) is
authorized by law to establish a branch in this State or (2) is
permitted by rule of the Commissioner to establish
deposit-taking terminals in this State in order to maintain
parity between national banks and banks established under the
laws of this or any other state, (b) a savings and loan
association or savings bank established under the laws of this
or any other state or established under the laws of the United
States, (c) a credit union established under the laws of this
or any other state or established under the laws of the United
States, or (d) a licensee under the Consumer Installment Loan
Act or the Sales Finance Agency Act.
    (B) A person other than a financial institution or an
affiliate of a financial institution may establish or own, in
whole or in part, a cash-dispensing terminal at which an
interchange transaction may be performed, provided that the
terminal does not accept deposits of funds to an account, and
provided that the person establishing or owning the terminal
must post a telephone number on the terminal for consumers to
call to report problems, along with the Department's telephone
number. shall file a notice of establishment or ownership of a
terminal with the Commissioner, in the form prescribed by the
Commissioner, within 60 days after the later of (a) the
effective day of this amendatory Act of 1997 or (b) the
establishment of or acquisition of an ownership interest in the
terminal. Persons who own a terminal pursuant to this
subsection (B) shall thereafter file with the Commissioner a
full and accurate statement of information of ownership, in the
form prescribed by the Commissioner, once per calendar year. A
person who has established or owns a terminal pursuant to this
subsection (B) shall not be required to file subsequent notices
of establishment or ownership of a terminal when establishing
or acquiring an ownership interest in additional terminals
provided the person includes the information required by the
Commissioner for those terminals in the person's annual filing
pursuant to this subsection (B). The Commissioner or examiners
appointed by the Commissioner shall have the authority to
examine any person that has established or owns a terminal in
this State pursuant to this subsection (B) if the Commissioner
has received multiple complaints regarding one or more
terminals owned by the person, and in the event of such an
examination, the person shall pay the reasonable costs and
expenses of the examination as determined by the Commissioner.
The Commissioner may impose civil penalties of up to $1,000
against any person subject to this subsection (B) for the first
failure to comply with this Act and up to $10,000 for the
second and each subsequent failure to comply with this Act. All
moneys received by the Commissioner under this subsection (B)
shall be paid into, and all expenses incurred by the
Commissioner under this subsection (B) shall be paid from, the
Bank and Trust Company Fund.
    (C) A network operating in this State shall maintain a
directory of the locations of cash-dispensing terminals at
which an interchange transaction may be performed that are
established or owned in this State by its members and shall
file the directory with the Commissioner within 60 days after
the effective date of this amendatory Act of 1997 and
thereafter once per calendar year.
(Source: P.A. 89-310, eff. 1-1-96; 90-189, eff. 1-1-98.)
 
    (205 ILCS 690/Act rep.)
    Section 15. The Check Printer and Check Number Act is
repealed.
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 6/30/2017