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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB5427
Introduced 01/27/06, by Rep. Tom Cross SYNOPSIS AS INTRODUCED:
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205 ILCS 5/3 |
from Ch. 17, par. 309 |
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Amends the Illinois Banking Act. Makes a technical change in a Section
concerning the primary powers of banks.
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A BILL FOR
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HB5427 |
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LRB094 18141 MKM 53448 b |
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| AN ACT concerning regulation.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Banking Act is amended by changing |
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| Section 3 as follows:
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| (205 ILCS 5/3) (from Ch. 17, par. 309)
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| Sec. 3. Formation and primary powers. It shall be lawful to |
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| form banks,
as herein provided, for the
the purpose of discount |
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| and deposit, buying and
selling exchange and doing a general |
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| banking business, excepting the
issuing of bills to circulate |
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| as money; and such banks shall have the power
to loan money on |
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| personal and real estate security, and to accept and execute
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| trusts upon obtaining a certificate of authority pursuant to |
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| the "Corporate
Fiduciary Act", and shall be subject to all of |
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| the provisions of this Act. |
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| (Source: P.A. 85-1402.)
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