Illinois General Assembly - Bill Status for SB 2710

Amends the Illinois Banking Act. Provides that no out-of-state bank and no national bank whose main banking premises located outside of Illinois may establish a branch in Illinois unless the out-of-state or national bank obtains a certificate of authority and a written confirmation from the Commissioner of Banks and Real Estate in the manner provided in this Section. Provides that out-of-state banks or national banks with main banking premises in a state other than Illinois may merge with Illinois banks subject to certain conditions. In provisions pertaining to the power of the Banks and Trust Companies Board, provides that the Board may make recommendations to the Commissioner regarding whether the laws of another state are reciprocal with the laws of Illinois. Requires the Commissioner to report to the Board if the Commissioner determines whether the laws of another state are reciprocal with the laws of Illinois.

Clarifies the procedure for out-of-state banks to establish a branch in Illinois. Clarifies the minimum standards that the Commissioner of Banks and Real Estate must use to determine whether the laws of another state are substantially similar to the provisions of Illinois law. Deletes language amending the powers of the Banks and Trust Companies Board. Amends the Illinois Bank Holding Company Act of 1957. In provisions pertaining to an out-of-state bank holding companies merging or acquiring all or substantially all of the assets of an Illinois bank, provides that such activity may occur if a bank with which an Illinois bank is being merged or that is acquiring all or substantially all of the assets of an Illinois bank has its main banking premises in a state that is deemed to be reciprocal with Illinois and would be eligible to establish a branch under the Illinois Banking Act. Amends the Savings Bank Act. Provides that no out-of-state savings bank whose main banking premises is located in a state other than Illinois shall establish a branch in this State, other than a branch authorized pursuant to any other provision of this Act, unless specified conditions are met. Provides procedures for out-of-state savings banks to establish a branch in Illinois. Makes other changes. Effective immediately.

Provides that, to the extent an out-of-state savings bank has its main banking premises in a state that is reciprocal with Illinois and would be eligible to establish a branch pursuant to specified provisions of the Act, a savings bank may establish branches or offices at which savings or investments are regularly received or loans approved.

Date	Chamber	Action
8/20/2004	Senate	Public Act . . . . . . . . . 93-0965

Date	Chamber	Action
2/4/2004	Senate	Filed with Secretary by Sen. Kimberly A. Lightford
2/4/2004	Senate	First Reading
2/4/2004	Senate	Referred to Rules
2/18/2004	Senate	Assigned to Financial Institutions
2/26/2004	Senate	Do Pass Financial Institutions; 009-000-000
2/26/2004	Senate	Placed on Calendar Order of 2nd Reading March 2, 2004
2/27/2004	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. Kimberly A. Lightford
2/27/2004	Senate	Senate Floor Amendment No. 1 Referred to Rules
3/23/2004	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. Kimberly A. Lightford
3/23/2004	Senate	Senate Floor Amendment No. 2 Referred to Rules
3/24/2004	Senate	Senate Floor Amendment No. 2 Rules Refers to Financial Institutions
3/24/2004	Senate	Senate Floor Amendment No. 2 Be Adopted Financial Institutions; 008-000-000
3/24/2004	Senate	Second Reading
3/24/2004	Senate	Senate Floor Amendment No. 2 Adopted; Lightford
3/24/2004	Senate	Placed on Calendar Order of 3rd Reading March 25, 2004
3/24/2004	Senate	Added as Chief Co-Sponsor Sen. Dan Rutherford
3/24/2004	Senate	Added as Chief Co-Sponsor Sen. Mattie Hunter
3/25/2004	Senate	Third Reading - Passed; 055-000-000
3/25/2004	Senate	Senate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
3/29/2004	House	Arrived in House
3/29/2004	House	Placed on Calendar Order of First Reading
3/29/2004	House	Chief House Sponsor Rep. Joseph M. Lyons
3/29/2004	House	First Reading
3/29/2004	House	Referred to Rules Committee
3/29/2004	House	Added Alternate Chief Co-Sponsor Rep. Bill Mitchell
4/20/2004	House	Assigned to Financial Institutions Committee
4/28/2004	House	House Amendment No. 1 Filed with Clerk by Financial Institutions Committee
4/28/2004	House	House Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
4/28/2004	House	Do Pass as Amended / Short Debate Financial Institutions Committee; 011-000-000
4/28/2004	House	Placed on Calendar 2nd Reading - Short Debate
4/29/2004	House	Added Alternate Chief Co-Sponsor Rep. Sidney H. Mathias
4/29/2004	House	Second Reading - Short Debate
4/29/2004	House	Placed on Calendar Order of 3rd Reading - Short Debate
5/4/2004	House	Added Alternate Chief Co-Sponsor Rep. Renee Kosel
5/4/2004	House	Added Alternate Chief Co-Sponsor Rep. Patricia R. Bellock
5/11/2004	House	Third Reading - Short Debate - Passed 111-000-004
5/11/2004	Senate	Secretary's Desk - Concurrence House Amendment(s) 01
5/11/2004	Senate	Placed on Calendar Order of Concurrence House Amendment(s) 01-May 12, 2004.
5/13/2004	Senate	House Amendment No. 1 Motion to Concur Filed with Secretary Sen. Kimberly A. Lightford
5/13/2004	Senate	House Amendment No. 1 Motion to Concur Referred to Rules
5/20/2004	Senate	House Amendment No. 1 Motion to Concur Rules Referred to Financial Institutions
5/25/2004	Senate	House Amendment No. 1 Motion to Concur Be Adopted Financial Institutions; 007-000-000
5/25/2004	Senate	House Amendment No. 1 Senate Concurs 057-000-000
5/25/2004	Senate	Passed Both Houses
6/23/2004	Senate	Sent to the Governor
8/20/2004	Senate	Governor Approved
8/20/2004	Senate	Effective Date August 20, 2004
8/20/2004	Senate	Public Act . . . . . . . . . 93-0965

	Adds reference to:
	205 ILCS 10/3.071	from Ch. 17, par. 2510.01