Sen. John J. Cullerton
Filed: 5/16/2012
 
 

 

 

 
09700HB1882sam001LRB097 10201 PJG 69633 a



1
AMENDMENT TO HOUSE BILL 1882 




2    AMENDMENT NO. ______. Amend House Bill 1882 by replacing 
3everything after the enacting clause with the following:

 
4    "Section 5. The Illinois Finance Authority Act is amended 
5by changing Section 805-10 as follows:
 



6    (20 ILCS 3501/805-10)



7    Sec. 805-10. Definitions. The
The following terms, 
8whenever used or referred
to in this Article, shall have the 
9following meanings ascribed to them, except
where the context 
10clearly requires otherwise:
11    (a) "Financial Institution" means a financial institution 
12which is a trust
company, a bank, a savings bank, a credit 
13union, an investment bank, a broker,
an investment trust, a 
14pension fund, a building and loan association, a savings
and 
15loan association, an insurance company, or any other 
16institution acceptable
to the Authority, authorized to do 
 
 
09700HB1882sam001- 2 -LRB097 10201 PJG 69633 a

1business in the State and approved by the
Authority to insure 
2bonds or loans for industrial projects authorized by this
Act.

3    (b) "Participating lender" means any trust company, bank, 
4savings bank,
credit
union, investment bank, broker, 
5investment trust, pension fund, building and
loan association, 
6savings and loan association, insurance company or other

7institution approved by the Authority which assumes a portion 
8of the risk on a
loan for an industrial project as provided in

9Section 805-30 of this Act.

10(Source: P.A. 93-205, eff. 1-1-04.)".