Public Act 093-0786
 		





SB2707 Enrolled
LRB093 19880 BDD 45623 b






    AN ACT concerning the Office of Banks and Real Estate.

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


 
    Section 5. The Office of Banks and Real Estate 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.


(Source: P.A. 92-483, eff. 8-23-01.)

 

    Section 99. Effective date. This Act takes effect upon 
becoming law.