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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB0556
Introduced 2/8/2007, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
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205 ILCS 10/3.07 |
from Ch. 17, par. 2510 |
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Amends the Illinois Bank Holding Company Act of 1957. Makes a technical change in a Section concerning restrictions on bank holding companies.
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A BILL FOR
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SB0556 |
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LRB095 04602 MJR 24659 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 Bank Holding Company Act of 1957 is |
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| amended by changing Section 3.07 as follows:
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| (205 ILCS 10/3.07) (from Ch. 17, par. 2510)
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| Sec. 3.07. Except as authorized under Section 3.061 of this
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| Act, no bank holding
company other than an
an Illinois bank |
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| holding company, may control
any Illinois bank or own more than |
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| 5% of the voting
shares of any Illinois bank, unless: (a) such |
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| bank
holding company acquired such control or voting shares |
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| under
circumstances described in
(A), (B), (C), (D) or (E) of |
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| subsection (h) of Section 2 of this
Act; or (b) such bank |
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| holding
company qualifies under the provisions of Section |
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| 3.071.
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| (Source: P.A. 84-1123.)
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