Date	Chamber	Action
1/11/2005	Senate	Session Sine Die

Statutes Amended In Order of Appearance

205 ILCS 5/6.5 new

Synopsis As Introduced
Amends the Illinois Banking Act. Provides that a bank that relies upon a power of attorney naming a bank customer as principal must notify the customer within 10 days after the act of reliance. Requires the customer to review the act of reliance and notify the bank of any unauthorized transaction. Provides that failure of a customer to notify the bank of an unauthorized transaction precludes the customer from making certain claims against the bank.

Senate Committee Amendment No. 1
Provides that a bank must provide notice of reliance upon a power of attorney by certified or registered mail with restricted delivery. Provides that the customer has 30, rather than 10, days within which to notify the bank of an unauthorized transaction. Limits a bank's authority to rely on multiple powers of attorney. Removes provision permitting allocation of loss between the customer and a bank.

Actions 

Date	Chamber	Action
2/5/2003	Senate	Filed with Secretary by Sen. Ira I. Silverstein
2/5/2003	Senate	First Reading
2/5/2003	Senate	Referred to Rules
2/6/2003	Senate	Assigned to Financial Institutions
2/19/2003	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Ira I. Silverstein
2/19/2003	Senate	Senate Committee Amendment No. 1 Referred to Rules
2/26/2003	Senate	Senate Committee Amendment No. 1 Rules Refers to Financial Institutions
3/6/2003	Senate	Senate Committee Amendment No. 1 Adopted
3/6/2003	Senate	Do Pass as Amended Financial Institutions; 009-000-000
3/6/2003	Senate	Placed on Calendar Order of 2nd Reading March 11, 2003
3/13/2003	Senate	Second Reading
3/13/2003	Senate	Placed on Calendar Order of 3rd Reading March 18, 2003
3/19/2003	Senate	Third Reading - Passed; 051-000-000
3/19/2003	House	Arrived in House
3/19/2003	House	Placed on Calendar Order of First Reading
3/21/2003	House	Chief House Sponsor Rep. Eddie Washington
3/21/2003	House	First Reading
3/21/2003	House	Referred to Rules Committee
3/31/2003	House	Assigned to Executive Committee
5/2/2003	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2005	Senate	Session Sine Die

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