SB2385 EnrolledLRB100 17898 MJP 33082 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Banking Act is amended by changing
5Section 48.1 as follows:
 
6    (205 ILCS 5/48.1)  (from Ch. 17, par. 360)
7    Sec. 48.1. Customer financial records; confidentiality.
8    (a) For the purpose of this Section, the term "financial
9records" means any original, any copy, or any summary of:
10        (1) a document granting signature authority over a
11    deposit or account;
12        (2) a statement, ledger card or other record on any
13    deposit or account, which shows each transaction in or with
14    respect to that account;
15        (3) a check, draft or money order drawn on a bank or
16    issued and payable by a bank; or
17        (4) any other item containing information pertaining
18    to any relationship established in the ordinary course of a
19    bank's business between a bank and its customer, including
20    financial statements or other financial information
21    provided by the customer.
22    (b) This Section does not prohibit:
23        (1) The preparation, examination, handling or

 

 

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1    maintenance of any financial records by any officer,
2    employee or agent of a bank having custody of the records,
3    or the examination of the records by a certified public
4    accountant engaged by the bank to perform an independent
5    audit.
6        (2) The examination of any financial records by, or the
7    furnishing of financial records by a bank to, any officer,
8    employee or agent of (i) the Commissioner of Banks and Real
9    Estate, (ii) after May 31, 1997, a state regulatory
10    authority authorized to examine a branch of a State bank
11    located in another state, (iii) the Comptroller of the
12    Currency, (iv) the Federal Reserve Board, or (v) the
13    Federal Deposit Insurance Corporation for use solely in the
14    exercise of his duties as an officer, employee, or agent.
15        (3) The publication of data furnished from financial
16    records relating to customers where the data cannot be
17    identified to any particular customer or account.
18        (4) The making of reports or returns required under
19    Chapter 61 of the Internal Revenue Code of 1986.
20        (5) Furnishing information concerning the dishonor of
21    any negotiable instrument permitted to be disclosed under
22    the Uniform Commercial Code.
23        (6) The exchange in the regular course of business of
24    (i) credit information between a bank and other banks or
25    financial institutions or commercial enterprises, directly
26    or through a consumer reporting agency or (ii) financial

 

 

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1    records or information derived from financial records
2    between a bank and other banks or financial institutions or
3    commercial enterprises for the purpose of conducting due
4    diligence pursuant to a purchase or sale involving the bank
5    or assets or liabilities of the bank.
6        (7) The furnishing of information to the appropriate
7    law enforcement authorities where the bank reasonably
8    believes it has been the victim of a crime.
9        (8) The furnishing of information under the Revised
10    Uniform Unclaimed Property Act.
11        (9) The furnishing of information under the Illinois
12    Income Tax Act and the Illinois Estate and
13    Generation-Skipping Transfer Tax Act.
14        (10) The furnishing of information under the federal
15    Currency and Foreign Transactions Reporting Act Title 31,
16    United States Code, Section 1051 et seq.
17        (11) The furnishing of information under any other
18    statute that by its terms or by regulations promulgated
19    thereunder requires the disclosure of financial records
20    other than by subpoena, summons, warrant, or court order.
21        (12) The furnishing of information about the existence
22    of an account of a person to a judgment creditor of that
23    person who has made a written request for that information.
24        (13) The exchange in the regular course of business of
25    information between commonly owned banks in connection
26    with a transaction authorized under paragraph (23) of

 

 

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1    Section 5 and conducted at an affiliate facility.
2        (14) The furnishing of information in accordance with
3    the federal Personal Responsibility and Work Opportunity
4    Reconciliation Act of 1996. Any bank governed by this Act
5    shall enter into an agreement for data exchanges with a
6    State agency provided the State agency pays to the bank a
7    reasonable fee not to exceed its actual cost incurred. A
8    bank providing information in accordance with this item
9    shall not be liable to any account holder or other person
10    for any disclosure of information to a State agency, for
11    encumbering or surrendering any assets held by the bank in
12    response to a lien or order to withhold and deliver issued
13    by a State agency, or for any other action taken pursuant
14    to this item, including individual or mechanical errors,
15    provided the action does not constitute gross negligence or
16    willful misconduct. A bank shall have no obligation to
17    hold, encumber, or surrender assets until it has been
18    served with a subpoena, summons, warrant, court or
19    administrative order, lien, or levy.
20        (15) The exchange in the regular course of business of
21    information between a bank and any commonly owned affiliate
22    of the bank, subject to the provisions of the Financial
23    Institutions Insurance Sales Law.
24        (16) The furnishing of information to law enforcement
25    authorities, the Illinois Department on Aging and its
26    regional administrative and provider agencies, the

 

 

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1    Department of Human Services Office of Inspector General,
2    or public guardians: (i) upon subpoena by the investigatory
3    entity or the guardian, or (ii) if there is suspicion by
4    the bank that a customer who is an elderly person or person
5    with a disability has been or may become the victim of
6    financial exploitation. For the purposes of this item (16),
7    the term: (i) "elderly person" means a person who is 60 or
8    more years of age, (ii) "disabled person" means a person
9    who has or reasonably appears to the bank to have a
10    physical or mental disability that impairs his or her
11    ability to seek or obtain protection from or prevent
12    financial exploitation, and (iii) "financial exploitation"
13    means tortious or illegal use of the assets or resources of
14    an elderly or disabled person, and includes, without
15    limitation, misappropriation of the elderly or disabled
16    person's assets or resources by undue influence, breach of
17    fiduciary relationship, intimidation, fraud, deception,
18    extortion, or the use of assets or resources in any manner
19    contrary to law. A bank or person furnishing information
20    pursuant to this item (16) shall be entitled to the same
21    rights and protections as a person furnishing information
22    under the Adult Protective Services Act and the Illinois
23    Domestic Violence Act of 1986.
24        (17) The disclosure of financial records or
25    information as necessary to effect, administer, or enforce
26    a transaction requested or authorized by the customer, or

 

 

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1    in connection with:
2            (A) servicing or processing a financial product or
3        service requested or authorized by the customer;
4            (B) maintaining or servicing a customer's account
5        with the bank; or
6            (C) a proposed or actual securitization or
7        secondary market sale (including sales of servicing
8        rights) related to a transaction of a customer.
9        Nothing in this item (17), however, authorizes the sale
10    of the financial records or information of a customer
11    without the consent of the customer.
12        (18) The disclosure of financial records or
13    information as necessary to protect against actual or
14    potential fraud, unauthorized transactions, claims, or
15    other liability.
16        (19)(a) The disclosure of financial records or
17    information related to a private label credit program
18    between a financial institution and a private label party
19    in connection with that private label credit program. Such
20    information is limited to outstanding balance, available
21    credit, payment and performance and account history,
22    product references, purchase information, and information
23    related to the identity of the customer.
24        (20)(a) The furnishing of financial records of a
25    customer to the Department to aid the Department's initial
26    determination or subsequent re-determination of the

 

 

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1    customer's eligibility for Medicaid and Medicaid long-term
2    care benefits for long-term care services, provided that
3    the bank receives the written consent and authorization of
4    the customer, which shall:
5            (1) have the customer's signature notarized;
6            (2) be signed by at least one witness who certifies
7        that he or she believes the customer to be of sound
8        mind and memory;
9            (3) be tendered to the bank at the earliest
10        practicable time following its execution,
11        certification, and notarization;
12            (4) specifically limit the disclosure of the
13        customer's financial records to the Department; and
14            (5) be in substantially the following form:
 
15
CUSTOMER CONSENT AND AUTHORIZATION
16
FOR RELEASE OF FINANCIAL RECORDS

 
17I, ......................................., hereby authorize 
18       (Name of Customer) 
 
19............................................................. 
20(Name of Financial Institution)
 
21............................................................. 
22(Address of Financial Institution)
 

 

 

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1to disclose the following financial records:
 
2any and all information concerning my deposit, savings, money
3market, certificate of deposit, individual retirement,
4retirement plan, 401(k) plan, incentive plan, employee benefit
5plan, mutual fund and loan accounts (including, but not limited
6to, any indebtedness or obligation for which I am a
7co-borrower, co-obligor, guarantor, or surety), and any and all
8other accounts in which I have an interest and any other
9information regarding me in the possession of the Financial
10Institution,
 
11to the Illinois Department of Human Services or the Illinois
12Department of Healthcare and Family Services, or both ("the
13Department"), for the following purpose(s):
 
14to aid in the initial determination or re-determination by the
15State of Illinois of my eligibility for Medicaid long-term care
16benefits, pursuant to applicable law.
 
17I understand that this Consent and Authorization may be revoked
18by me in writing at any time before my financial records, as
19described above, are disclosed, and that this Consent and
20Authorization is valid until the Financial Institution
21receives my written revocation. This Consent and Authorization

 

 

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1shall constitute valid authorization for the Department
2identified above to inspect all such financial records set
3forth above, and to request and receive copies of such
4financial records from the Financial Institution (subject to
5such records search and reproduction reimbursement policies as
6the Financial Institution may have in place). An executed copy
7of this Consent and Authorization shall be sufficient and as
8good as the original and permission is hereby granted to honor
9a photostatic or electronic copy of this Consent and
10Authorization. Disclosure is strictly limited to the
11Department identified above and no other person or entity shall
12receive my financial records pursuant to this Consent and
13Authorization. By signing this form, I agree to indemnify and
14hold the Financial Institution harmless from any and all
15claims, demands, and losses, including reasonable attorneys
16fees and expenses, arising from or incurred in its reliance on
17this Consent and Authorization. As used herein, "Customer"
18shall mean "Member" if the Financial Institution is a credit
19union.
 
20....................... ...................... 
21(Date)                  (Signature of Customer)             
 
22                         ...................... 
23                         ...................... 
24                         (Address of Customer) 
 

 

 

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1                         ...................... 
2                         (Customer's birth date) 
3                         (month/day/year) 
 
4The undersigned witness certifies that .................,
5known to me to be the same person whose name is subscribed as
6the customer to the foregoing Consent and Authorization,
7appeared before me and the notary public and acknowledged
8signing and delivering the instrument as his or her free and
9voluntary act for the uses and purposes therein set forth. I
10believe him or her to be of sound mind and memory. The
11undersigned witness also certifies that the witness is not an
12owner, operator, or relative of an owner or operator of a
13long-term care facility in which the customer is a patient or
14resident.
 
15Dated: ................. ...................... 
16                         (Signature of Witness) 
 
17                         ...................... 
18                         (Print Name of Witness) 
 
19                         ...................... 
20                         ...................... 
21                         (Address of Witness) 
 

 

 

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1State of Illinois)
2                 ) ss.
3County of .......)
 
4The undersigned, a notary public in and for the above county
5and state, certifies that .........., known to me to be the
6same person whose name is subscribed as the customer to the
7foregoing Consent and Authorization, appeared before me
8together with the witness, .........., in person and
9acknowledged signing and delivering the instrument as the free
10and voluntary act of the customer for the uses and purposes
11therein set forth.
 
12Dated:.......................................................
13Notary Public:...............................................
14My commission expires:.......................................
 
15        (b) In no event shall the bank distribute the
16    customer's financial records to the long-term care
17    facility from which the customer seeks initial or
18    continuing residency or long-term care services.
19        (c) A bank providing financial records of a customer in
20    good faith relying on a consent and authorization executed
21    and tendered in accordance with this paragraph (20) shall
22    not be liable to the customer or any other person in

 

 

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1    relation to the bank's disclosure of the customer's
2    financial records to the Department. The customer signing
3    the consent and authorization shall indemnify and hold the
4    bank harmless that relies in good faith upon the consent
5    and authorization and incurs a loss because of such
6    reliance. The bank recovering under this indemnification
7    provision shall also be entitled to reasonable attorney's
8    fees and the expenses of recovery.
9        (d) A bank shall be reimbursed by the customer for all
10    costs reasonably necessary and directly incurred in
11    searching for, reproducing, and disclosing a customer's
12    financial records required or requested to be produced
13    pursuant to any consent and authorization executed under
14    this paragraph (20). The requested financial records shall
15    be delivered to the Department within 10 days after
16    receiving a properly executed consent and authorization or
17    at the earliest practicable time thereafter if the
18    requested records cannot be delivered within 10 days, but
19    delivery may be delayed until the final reimbursement of
20    all costs is received by the bank. The bank may honor a
21    photostatic or electronic copy of a properly executed
22    consent and authorization.
23        (e) Nothing in this paragraph (20) shall impair,
24    abridge, or abrogate the right of a customer to:
25            (1) directly disclose his or her financial records
26        to the Department or any other person; or

 

 

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1            (2) authorize his or her attorney or duly appointed
2        agent to request and obtain the customer's financial
3        records and disclose those financial records to the
4        Department.
5        (f) For purposes of this paragraph (20), "Department"
6    means the Department of Human Services and the Department
7    of Healthcare and Family Services or any successor
8    administrative agency of either agency.
9        (b)(1) For purposes of this paragraph (19) of
10    subsection (b) of Section 48.1, a "private label credit
11    program" means a credit program involving a financial
12    institution and a private label party that is used by a
13    customer of the financial institution and the private label
14    party primarily for payment for goods or services sold,
15    manufactured, or distributed by a private label party.
16        (2) For purposes of this paragraph (19) of subsection
17    (b) of Section 48.1, a "private label party" means, with
18    respect to a private label credit program, any of the
19    following: a retailer, a merchant, a manufacturer, a trade
20    group, or any such person's affiliate, subsidiary, member,
21    agent, or service provider.
22    (c) Except as otherwise provided by this Act, a bank may
23not disclose to any person, except to the customer or his duly
24authorized agent, any financial records or financial
25information obtained from financial records relating to that
26customer of that bank unless:

 

 

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1        (1) the customer has authorized disclosure to the
2    person;
3        (2) the financial records are disclosed in response to
4    a lawful subpoena, summons, warrant, citation to discover
5    assets, or court order which meets the requirements of
6    subsection (d) of this Section; or
7        (3) the bank is attempting to collect an obligation
8    owed to the bank and the bank complies with the provisions
9    of Section 2I of the Consumer Fraud and Deceptive Business
10    Practices Act.
11    (d) A bank shall disclose financial records under paragraph
12(2) of subsection (c) of this Section under a lawful subpoena,
13summons, warrant, citation to discover assets, or court order
14only after the bank mails a copy of the subpoena, summons,
15warrant, citation to discover assets, or court order to the
16person establishing the relationship with the bank, if living,
17and, otherwise his personal representative, if known, at his
18last known address by first class mail, postage prepaid, unless
19the bank is specifically prohibited from notifying the person
20by order of court or by applicable State or federal law. A bank
21shall not mail a copy of a subpoena to any person pursuant to
22this subsection if the subpoena was issued by a grand jury
23under the Statewide Grand Jury Act.
24    (e) Any officer or employee of a bank who knowingly and
25willfully furnishes financial records in violation of this
26Section is guilty of a business offense and, upon conviction,

 

 

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1shall be fined not more than $1,000.
2    (f) Any person who knowingly and willfully induces or
3attempts to induce any officer or employee of a bank to
4disclose financial records in violation of this Section is
5guilty of a business offense and, upon conviction, shall be
6fined not more than $1,000.
7    (g) A bank shall be reimbursed for costs that are
8reasonably necessary and that have been directly incurred in
9searching for, reproducing, or transporting books, papers,
10records, or other data of a customer required or requested to
11be produced pursuant to a lawful subpoena, summons, warrant,
12citation to discover assets, or court order. The Commissioner
13shall determine the rates and conditions under which payment
14may be made.
15(Source: P.A. 99-143, eff. 7-27-15; 100-22, eff. 1-1-18.)
 
16    Section 10. The Savings Bank Act is amended by changing
17Section 4013 as follows:
 
18    (205 ILCS 205/4013)  (from Ch. 17, par. 7304-13)
19    Sec. 4013. Access to books and records; communication with
20members and shareholders.
21    (a) Every member or shareholder shall have the right to
22inspect books and records of the savings bank that pertain to
23his accounts. Otherwise, the right of inspection and
24examination of the books and records shall be limited as

 

 

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1provided in this Act, and no other person shall have access to
2the books and records nor shall be entitled to a list of the
3members or shareholders.
4    (b) For the purpose of this Section, the term "financial
5records" means any original, any copy, or any summary of (1) a
6document granting signature authority over a deposit or
7account; (2) a statement, ledger card, or other record on any
8deposit or account that shows each transaction in or with
9respect to that account; (3) a check, draft, or money order
10drawn on a savings bank or issued and payable by a savings
11bank; or (4) any other item containing information pertaining
12to any relationship established in the ordinary course of a
13savings bank's business between a savings bank and its
14customer, including financial statements or other financial
15information provided by the member or shareholder.
16    (c) This Section does not prohibit:
17        (1) The preparation, examination, handling, or
18    maintenance of any financial records by any officer,
19    employee, or agent of a savings bank having custody of
20    records or examination of records by a certified public
21    accountant engaged by the savings bank to perform an
22    independent audit.
23        (2) The examination of any financial records by, or the
24    furnishing of financial records by a savings bank to, any
25    officer, employee, or agent of the Commissioner of Banks
26    and Real Estate or the federal depository institution

 

 

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1    regulator for use solely in the exercise of his duties as
2    an officer, employee, or agent.
3        (3) The publication of data furnished from financial
4    records relating to members or holders of capital where the
5    data cannot be identified to any particular member,
6    shareholder, or account.
7        (4) The making of reports or returns required under
8    Chapter 61 of the Internal Revenue Code of 1986.
9        (5) Furnishing information concerning the dishonor of
10    any negotiable instrument permitted to be disclosed under
11    the Uniform Commercial Code.
12        (6) The exchange in the regular course of business of
13    (i) credit information between a savings bank and other
14    savings banks or financial institutions or commercial
15    enterprises, directly or through a consumer reporting
16    agency or (ii) financial records or information derived
17    from financial records between a savings bank and other
18    savings banks or financial institutions or commercial
19    enterprises for the purpose of conducting due diligence
20    pursuant to a purchase or sale involving the savings bank
21    or assets or liabilities of the savings bank.
22        (7) The furnishing of information to the appropriate
23    law enforcement authorities where the savings bank
24    reasonably believes it has been the victim of a crime.
25        (8) The furnishing of information pursuant to the
26    Revised Uniform Unclaimed Property Act.

 

 

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1        (9) The furnishing of information pursuant to the
2    Illinois Income Tax Act and the Illinois Estate and
3    Generation-Skipping Transfer Tax Act.
4        (10) The furnishing of information pursuant to the
5    federal Currency and Foreign Transactions Reporting Act,
6    (Title 31, United States Code, Section 1051 et seq.).
7        (11) The furnishing of information pursuant to any
8    other statute which by its terms or by regulations
9    promulgated thereunder requires the disclosure of
10    financial records other than by subpoena, summons,
11    warrant, or court order.
12        (12) The furnishing of information in accordance with
13    the federal Personal Responsibility and Work Opportunity
14    Reconciliation Act of 1996. Any savings bank governed by
15    this Act shall enter into an agreement for data exchanges
16    with a State agency provided the State agency pays to the
17    savings bank a reasonable fee not to exceed its actual cost
18    incurred. A savings bank providing information in
19    accordance with this item shall not be liable to any
20    account holder or other person for any disclosure of
21    information to a State agency, for encumbering or
22    surrendering any assets held by the savings bank in
23    response to a lien or order to withhold and deliver issued
24    by a State agency, or for any other action taken pursuant
25    to this item, including individual or mechanical errors,
26    provided the action does not constitute gross negligence or

 

 

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1    willful misconduct. A savings bank shall have no obligation
2    to hold, encumber, or surrender assets until it has been
3    served with a subpoena, summons, warrant, court or
4    administrative order, lien, or levy.
5        (13) The furnishing of information to law enforcement
6    authorities, the Illinois Department on Aging and its
7    regional administrative and provider agencies, the
8    Department of Human Services Office of Inspector General,
9    or public guardians: (i) upon subpoena by the investigatory
10    entity or the guardian, or (ii) if there is suspicion by
11    the savings bank that a customer who is an elderly person
12    or person with a disability has been or may become the
13    victim of financial exploitation. For the purposes of this
14    item (13), the term: (i) "elderly person" means a person
15    who is 60 or more years of age, (ii) "person with a
16    disability" means a person who has or reasonably appears to
17    the savings bank to have a physical or mental disability
18    that impairs his or her ability to seek or obtain
19    protection from or prevent financial exploitation, and
20    (iii) "financial exploitation" means tortious or illegal
21    use of the assets or resources of an elderly person or
22    person with a disability, and includes, without
23    limitation, misappropriation of the assets or resources of
24    the elderly person or person with a disability by undue
25    influence, breach of fiduciary relationship, intimidation,
26    fraud, deception, extortion, or the use of assets or

 

 

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1    resources in any manner contrary to law. A savings bank or
2    person furnishing information pursuant to this item (13)
3    shall be entitled to the same rights and protections as a
4    person furnishing information under the Adult Protective
5    Services Act and the Illinois Domestic Violence Act of
6    1986.
7        (14) The disclosure of financial records or
8    information as necessary to effect, administer, or enforce
9    a transaction requested or authorized by the member or
10    holder of capital, or in connection with:
11            (A) servicing or processing a financial product or
12        service requested or authorized by the member or holder
13        of capital;
14            (B) maintaining or servicing an account of a member
15        or holder of capital with the savings bank; or
16            (C) a proposed or actual securitization or
17        secondary market sale (including sales of servicing
18        rights) related to a transaction of a member or holder
19        of capital.
20        Nothing in this item (14), however, authorizes the sale
21    of the financial records or information of a member or
22    holder of capital without the consent of the member or
23    holder of capital.
24        (15) The exchange in the regular course of business of
25    information between a savings bank and any commonly owned
26    affiliate of the savings bank, subject to the provisions of

 

 

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1    the Financial Institutions Insurance Sales Law.
2        (16) The disclosure of financial records or
3    information as necessary to protect against or prevent
4    actual or potential fraud, unauthorized transactions,
5    claims, or other liability.
6        (17)(a) The disclosure of financial records or
7    information related to a private label credit program
8    between a financial institution and a private label party
9    in connection with that private label credit program. Such
10    information is limited to outstanding balance, available
11    credit, payment and performance and account history,
12    product references, purchase information, and information
13    related to the identity of the customer.
14        (b)(1) For purposes of this paragraph (17) of
15    subsection (c) of Section 4013, a "private label credit
16    program" means a credit program involving a financial
17    institution and a private label party that is used by a
18    customer of the financial institution and the private label
19    party primarily for payment for goods or services sold,
20    manufactured, or distributed by a private label party.
21        (2) For purposes of this paragraph (17) of subsection
22    (c) of Section 4013, a "private label party" means, with
23    respect to a private label credit program, any of the
24    following: a retailer, a merchant, a manufacturer, a trade
25    group, or any such person's affiliate, subsidiary, member,
26    agent, or service provider.

 

 

SB2385 Enrolled- 22 -LRB100 17898 MJP 33082 b

1        (18)(a) The furnishing of financial records of a
2    customer to the Department to aid the Department's initial
3    determination or subsequent re-determination of the
4    customer's eligibility for Medicaid and Medicaid long-term
5    care benefits for long-term care services, provided that
6    the savings bank receives the written consent and
7    authorization of the customer, which shall:
8            (1) have the customer's signature notarized;
9            (2) be signed by at least one witness who certifies
10        that he or she believes the customer to be of sound
11        mind and memory;
12            (3) be tendered to the savings bank at the earliest
13        practicable time following its execution,
14        certification, and notarization;
15            (4) specifically limit the disclosure of the
16        customer's financial records to the Department; and
17            (5) be in substantially the following form:
 
18
CUSTOMER CONSENT AND AUTHORIZATION
19
FOR RELEASE OF FINANCIAL RECORDS

 
20I, ......................................., hereby authorize 
21       (Name of Customer) 
 
22............................................................. 
23(Name of Financial Institution)
 

 

 

SB2385 Enrolled- 23 -LRB100 17898 MJP 33082 b

1............................................................. 
2(Address of Financial Institution)
 
3to disclose the following financial records:
 
4any and all information concerning my deposit, savings, money
5market, certificate of deposit, individual retirement,
6retirement plan, 401(k) plan, incentive plan, employee benefit
7plan, mutual fund and loan accounts (including, but not limited
8to, any indebtedness or obligation for which I am a
9co-borrower, co-obligor, guarantor, or surety), and any and all
10other accounts in which I have an interest and any other
11information regarding me in the possession of the Financial
12Institution,
 
13to the Illinois Department of Human Services or the Illinois
14Department of Healthcare and Family Services, or both ("the
15Department"), for the following purpose(s):
 
16to aid in the initial determination or re-determination by the
17State of Illinois of my eligibility for Medicaid long-term care
18benefits, pursuant to applicable law.
 
19I understand that this Consent and Authorization may be revoked
20by me in writing at any time before my financial records, as

 

 

SB2385 Enrolled- 24 -LRB100 17898 MJP 33082 b

1described above, are disclosed, and that this Consent and
2Authorization is valid until the Financial Institution
3receives my written revocation. This Consent and Authorization
4shall constitute valid authorization for the Department
5identified above to inspect all such financial records set
6forth above, and to request and receive copies of such
7financial records from the Financial Institution (subject to
8such records search and reproduction reimbursement policies as
9the Financial Institution may have in place). An executed copy
10of this Consent and Authorization shall be sufficient and as
11good as the original and permission is hereby granted to honor
12a photostatic or electronic copy of this Consent and
13Authorization. Disclosure is strictly limited to the
14Department identified above and no other person or entity shall
15receive my financial records pursuant to this Consent and
16Authorization. By signing this form, I agree to indemnify and
17hold the Financial Institution harmless from any and all
18claims, demands, and losses, including reasonable attorneys
19fees and expenses, arising from or incurred in its reliance on
20this Consent and Authorization. As used herein, "Customer"
21shall mean "Member" if the Financial Institution is a credit
22union.
 
23....................... ...................... 
24(Date)                  (Signature of Customer)             
 

 

 

SB2385 Enrolled- 25 -LRB100 17898 MJP 33082 b

1                         ...................... 
2                         ...................... 
3                         (Address of Customer) 
 
4                         ...................... 
5                         (Customer's birth date) 
6                         (month/day/year) 
 
7The undersigned witness certifies that .................,
8known to me to be the same person whose name is subscribed as
9the customer to the foregoing Consent and Authorization,
10appeared before me and the notary public and acknowledged
11signing and delivering the instrument as his or her free and
12voluntary act for the uses and purposes therein set forth. I
13believe him or her to be of sound mind and memory. The
14undersigned witness also certifies that the witness is not an
15owner, operator, or relative of an owner or operator of a
16long-term care facility in which the customer is a patient or
17resident.
 
18Dated: ................. ...................... 
19                         (Signature of Witness) 
 
20                         ...................... 
21                         (Print Name of Witness) 
 

 

 

SB2385 Enrolled- 26 -LRB100 17898 MJP 33082 b

1                         ...................... 
2                         ...................... 
3                         (Address of Witness) 
 
4State of Illinois)
5                 ) ss.
6County of .......)
 
7The undersigned, a notary public in and for the above county
8and state, certifies that .........., known to me to be the
9same person whose name is subscribed as the customer to the
10foregoing Consent and Authorization, appeared before me
11together with the witness, .........., in person and
12acknowledged signing and delivering the instrument as the free
13and voluntary act of the customer for the uses and purposes
14therein set forth.
 
15Dated:.......................................................
16Notary Public:...............................................
17My commission expires:.......................................
 
18        (b) In no event shall the savings bank distribute the
19    customer's financial records to the long-term care
20    facility from which the customer seeks initial or
21    continuing residency or long-term care services.
22        (c) A savings bank providing financial records of a

 

 

SB2385 Enrolled- 27 -LRB100 17898 MJP 33082 b

1    customer in good faith relying on a consent and
2    authorization executed and tendered in accordance with
3    this paragraph (18) shall not be liable to the customer or
4    any other person in relation to the savings bank's
5    disclosure of the customer's financial records to the
6    Department. The customer signing the consent and
7    authorization shall indemnify and hold the savings bank
8    harmless that relies in good faith upon the consent and
9    authorization and incurs a loss because of such reliance.
10    The savings bank recovering under this indemnification
11    provision shall also be entitled to reasonable attorney's
12    fees and the expenses of recovery.
13        (d) A savings bank shall be reimbursed by the customer
14    for all costs reasonably necessary and directly incurred in
15    searching for, reproducing, and disclosing a customer's
16    financial records required or requested to be produced
17    pursuant to any consent and authorization executed under
18    this paragraph (18). The requested financial records shall
19    be delivered to the Department within 10 days after
20    receiving a properly executed consent and authorization or
21    at the earliest practicable time thereafter if the
22    requested records cannot be delivered within 10 days, but
23    delivery may be delayed until the final reimbursement of
24    all costs is received by the savings bank. The savings bank
25    may honor a photostatic or electronic copy of a properly
26    executed consent and authorization.

 

 

SB2385 Enrolled- 28 -LRB100 17898 MJP 33082 b

1        (e) Nothing in this paragraph (18) shall impair,
2    abridge, or abrogate the right of a customer to:
3            (1) directly disclose his or her financial records
4        to the Department or any other person; or
5            (2) authorize his or her attorney or duly appointed
6        agent to request and obtain the customer's financial
7        records and disclose those financial records to the
8        Department.
9        (f) For purposes of this paragraph (18), "Department"
10    means the Department of Human Services and the Department
11    of Healthcare and Family Services or any successor
12    administrative agency of either agency.
13    (d) A savings bank may not disclose to any person, except
14to the member or holder of capital or his duly authorized
15agent, any financial records relating to that member or
16shareholder of the savings bank unless:
17        (1) the member or shareholder has authorized
18    disclosure to the person; or
19        (2) the financial records are disclosed in response to
20    a lawful subpoena, summons, warrant, citation to discover
21    assets, or court order that meets the requirements of
22    subsection (e) of this Section.
23    (e) A savings bank shall disclose financial records under
24subsection (d) of this Section pursuant to a lawful subpoena,
25summons, warrant, citation to discover assets, or court order
26only after the savings bank mails a copy of the subpoena,

 

 

SB2385 Enrolled- 29 -LRB100 17898 MJP 33082 b

1summons, warrant, citation to discover assets, or court order
2to the person establishing the relationship with the savings
3bank, if living, and otherwise, his personal representative, if
4known, at his last known address by first class mail, postage
5prepaid, unless the savings bank is specifically prohibited
6from notifying the person by order of court.
7    (f) Any officer or employee of a savings bank who knowingly
8and willfully furnishes financial records in violation of this
9Section is guilty of a business offense and, upon conviction,
10shall be fined not more than $1,000.
11    (g) Any person who knowingly and willfully induces or
12attempts to induce any officer or employee of a savings bank to
13disclose financial records in violation of this Section is
14guilty of a business offense and, upon conviction, shall be
15fined not more than $1,000.
16    (h) If any member or shareholder desires to communicate
17with the other members or shareholders of the savings bank with
18reference to any question pending or to be presented at an
19annual or special meeting, the savings bank shall give that
20person, upon request, a statement of the approximate number of
21members or shareholders entitled to vote at the meeting and an
22estimate of the cost of preparing and mailing the
23communication. The requesting member shall submit the
24communication to the Commissioner who, upon finding it to be
25appropriate and truthful, shall direct that it be prepared and
26mailed to the members upon the requesting member's or

 

 

SB2385 Enrolled- 30 -LRB100 17898 MJP 33082 b

1shareholder's payment or adequate provision for payment of the
2expenses of preparation and mailing.
3    (i) A savings bank shall be reimbursed for costs that are
4necessary and that have been directly incurred in searching
5for, reproducing, or transporting books, papers, records, or
6other data of a customer required to be reproduced pursuant to
7a lawful subpoena, warrant, citation to discover assets, or
8court order.
9    (j) Notwithstanding the provisions of this Section, a
10savings bank may sell or otherwise make use of lists of
11customers' names and addresses. All other information
12regarding a customer's account is subject to the disclosure
13provisions of this Section. At the request of any customer,
14that customer's name and address shall be deleted from any list
15that is to be sold or used in any other manner beyond
16identification of the customer's accounts.
17(Source: P.A. 99-143, eff. 7-27-15; 100-22, eff. 1-1-18;
18100-201, eff. 8-18-17.)
 
19    Section 15. The Illinois Credit Union Act is amended by
20changing Section 10 as follows:
 
21    (205 ILCS 305/10)  (from Ch. 17, par. 4411)
22    Sec. 10. Credit union records; member financial records.
23    (1) A credit union shall establish and maintain books,
24records, accounting systems and procedures which accurately

 

 

SB2385 Enrolled- 31 -LRB100 17898 MJP 33082 b

1reflect its operations and which enable the Department to
2readily ascertain the true financial condition of the credit
3union and whether it is complying with this Act.
4    (2) A photostatic or photographic reproduction of any
5credit union records shall be admissible as evidence of
6transactions with the credit union.
7    (3)(a) For the purpose of this Section, the term "financial
8records" means any original, any copy, or any summary of (1) a
9document granting signature authority over an account, (2) a
10statement, ledger card or other record on any account which
11shows each transaction in or with respect to that account, (3)
12a check, draft or money order drawn on a financial institution
13or other entity or issued and payable by or through a financial
14institution or other entity, or (4) any other item containing
15information pertaining to any relationship established in the
16ordinary course of business between a credit union and its
17member, including financial statements or other financial
18information provided by the member.
19    (b) This Section does not prohibit:
20        (1) The preparation, examination, handling or
21    maintenance of any financial records by any officer,
22    employee or agent of a credit union having custody of such
23    records, or the examination of such records by a certified
24    public accountant engaged by the credit union to perform an
25    independent audit.
26        (2) The examination of any financial records by or the

 

 

SB2385 Enrolled- 32 -LRB100 17898 MJP 33082 b

1    furnishing of financial records by a credit union to any
2    officer, employee or agent of the Department, the National
3    Credit Union Administration, Federal Reserve board or any
4    insurer of share accounts for use solely in the exercise of
5    his duties as an officer, employee or agent.
6        (3) The publication of data furnished from financial
7    records relating to members where the data cannot be
8    identified to any particular customer of account.
9        (4) The making of reports or returns required under
10    Chapter 61 of the Internal Revenue Code of 1954.
11        (5) Furnishing information concerning the dishonor of
12    any negotiable instrument permitted to be disclosed under
13    the Uniform Commercial Code.
14        (6) The exchange in the regular course of business of
15    (i) credit information between a credit union and other
16    credit unions or financial institutions or commercial
17    enterprises, directly or through a consumer reporting
18    agency or (ii) financial records or information derived
19    from financial records between a credit union and other
20    credit unions or financial institutions or commercial
21    enterprises for the purpose of conducting due diligence
22    pursuant to a merger or a purchase or sale of assets or
23    liabilities of the credit union.
24        (7) The furnishing of information to the appropriate
25    law enforcement authorities where the credit union
26    reasonably believes it has been the victim of a crime.

 

 

SB2385 Enrolled- 33 -LRB100 17898 MJP 33082 b

1        (8) The furnishing of information pursuant to the
2    Revised Uniform Unclaimed Property Act.
3        (9) The furnishing of information pursuant to the
4    Illinois Income Tax Act and the Illinois Estate and
5    Generation-Skipping Transfer Tax Act.
6        (10) The furnishing of information pursuant to the
7    federal "Currency and Foreign Transactions Reporting Act",
8    Title 31, United States Code, Section 1051 et sequentia.
9        (11) The furnishing of information pursuant to any
10    other statute which by its terms or by regulations
11    promulgated thereunder requires the disclosure of
12    financial records other than by subpoena, summons, warrant
13    or court order.
14        (12) The furnishing of information in accordance with
15    the federal Personal Responsibility and Work Opportunity
16    Reconciliation Act of 1996. Any credit union governed by
17    this Act shall enter into an agreement for data exchanges
18    with a State agency provided the State agency pays to the
19    credit union a reasonable fee not to exceed its actual cost
20    incurred. A credit union providing information in
21    accordance with this item shall not be liable to any
22    account holder or other person for any disclosure of
23    information to a State agency, for encumbering or
24    surrendering any assets held by the credit union in
25    response to a lien or order to withhold and deliver issued
26    by a State agency, or for any other action taken pursuant

 

 

SB2385 Enrolled- 34 -LRB100 17898 MJP 33082 b

1    to this item, including individual or mechanical errors,
2    provided the action does not constitute gross negligence or
3    willful misconduct. A credit union shall have no obligation
4    to hold, encumber, or surrender assets until it has been
5    served with a subpoena, summons, warrant, court or
6    administrative order, lien, or levy.
7        (13) The furnishing of information to law enforcement
8    authorities, the Illinois Department on Aging and its
9    regional administrative and provider agencies, the
10    Department of Human Services Office of Inspector General,
11    or public guardians: (i) upon subpoena by the investigatory
12    entity or the guardian, or (ii) if there is suspicion by
13    the credit union that a member who is an elderly person or
14    person with a disability has been or may become the victim
15    of financial exploitation. For the purposes of this item
16    (13), the term: (i) "elderly person" means a person who is
17    60 or more years of age, (ii) "person with a disability"
18    means a person who has or reasonably appears to the credit
19    union to have a physical or mental disability that impairs
20    his or her ability to seek or obtain protection from or
21    prevent financial exploitation, and (iii) "financial
22    exploitation" means tortious or illegal use of the assets
23    or resources of an elderly person or person with a
24    disability, and includes, without limitation,
25    misappropriation of the elderly or disabled person's
26    assets or resources by undue influence, breach of fiduciary

 

 

SB2385 Enrolled- 35 -LRB100 17898 MJP 33082 b

1    relationship, intimidation, fraud, deception, extortion,
2    or the use of assets or resources in any manner contrary to
3    law. A credit union or person furnishing information
4    pursuant to this item (13) shall be entitled to the same
5    rights and protections as a person furnishing information
6    under the Adult Protective Services Act and the Illinois
7    Domestic Violence Act of 1986.
8        (14) The disclosure of financial records or
9    information as necessary to effect, administer, or enforce
10    a transaction requested or authorized by the member, or in
11    connection with:
12            (A) servicing or processing a financial product or
13        service requested or authorized by the member;
14            (B) maintaining or servicing a member's account
15        with the credit union; or
16            (C) a proposed or actual securitization or
17        secondary market sale (including sales of servicing
18        rights) related to a transaction of a member.
19        Nothing in this item (14), however, authorizes the sale
20    of the financial records or information of a member without
21    the consent of the member.
22        (15) The disclosure of financial records or
23    information as necessary to protect against or prevent
24    actual or potential fraud, unauthorized transactions,
25    claims, or other liability.
26        (16)(a) The disclosure of financial records or

 

 

SB2385 Enrolled- 36 -LRB100 17898 MJP 33082 b

1    information related to a private label credit program
2    between a financial institution and a private label party
3    in connection with that private label credit program. Such
4    information is limited to outstanding balance, available
5    credit, payment and performance and account history,
6    product references, purchase information, and information
7    related to the identity of the customer.
8        (b)(1) For purposes of this paragraph (16) of
9    subsection (b) of Section 10, a "private label credit
10    program" means a credit program involving a financial
11    institution and a private label party that is used by a
12    customer of the financial institution and the private label
13    party primarily for payment for goods or services sold,
14    manufactured, or distributed by a private label party.
15        (2) For purposes of this paragraph (16) of subsection
16    (b) of Section 10, a "private label party" means, with
17    respect to a private label credit program, any of the
18    following: a retailer, a merchant, a manufacturer, a trade
19    group, or any such person's affiliate, subsidiary, member,
20    agent, or service provider.
21        (17)(a) The furnishing of financial records of a member
22    to the Department to aid the Department's initial
23    determination or subsequent re-determination of the
24    member's eligibility for Medicaid and Medicaid long-term
25    care benefits for long-term care services, provided that
26    the credit union receives the written consent and

 

 

SB2385 Enrolled- 37 -LRB100 17898 MJP 33082 b

1    authorization of the member, which shall:
2            (1) have the member's signature notarized;
3            (2) be signed by at least one witness who certifies
4        that he or she believes the member to be of sound mind
5        and memory;
6            (3) be tendered to the credit union at the earliest
7        practicable time following its execution,
8        certification, and notarization;
9            (4) specifically limit the disclosure of the
10        member's financial records to the Department; and
11            (5) be in substantially the following form:
 
12
CUSTOMER CONSENT AND AUTHORIZATION
13
FOR RELEASE OF FINANCIAL RECORDS

 
14I, ......................................., hereby authorize 
15       (Name of Customer) 
 
16............................................................. 
17(Name of Financial Institution)
 
18............................................................. 
19(Address of Financial Institution)
 
20to disclose the following financial records:
 

 

 

SB2385 Enrolled- 38 -LRB100 17898 MJP 33082 b

1any and all information concerning my deposit, savings, money
2market, certificate of deposit, individual retirement,
3retirement plan, 401(k) plan, incentive plan, employee benefit
4plan, mutual fund and loan accounts (including, but not limited
5to, any indebtedness or obligation for which I am a
6co-borrower, co-obligor, guarantor, or surety), and any and all
7other accounts in which I have an interest and any other
8information regarding me in the possession of the Financial
9Institution,
 
10to the Illinois Department of Human Services or the Illinois
11Department of Healthcare and Family Services, or both ("the
12Department"), for the following purpose(s):
 
13to aid in the initial determination or re-determination by the
14State of Illinois of my eligibility for Medicaid long-term care
15benefits, pursuant to applicable law.
 
16I understand that this Consent and Authorization may be revoked
17by me in writing at any time before my financial records, as
18described above, are disclosed, and that this Consent and
19Authorization is valid until the Financial Institution
20receives my written revocation. This Consent and Authorization
21shall constitute valid authorization for the Department
22identified above to inspect all such financial records set
23forth above, and to request and receive copies of such

 

 

SB2385 Enrolled- 39 -LRB100 17898 MJP 33082 b

1financial records from the Financial Institution (subject to
2such records search and reproduction reimbursement policies as
3the Financial Institution may have in place). An executed copy
4of this Consent and Authorization shall be sufficient and as
5good as the original and permission is hereby granted to honor
6a photostatic or electronic copy of this Consent and
7Authorization. Disclosure is strictly limited to the
8Department identified above and no other person or entity shall
9receive my financial records pursuant to this Consent and
10Authorization. By signing this form, I agree to indemnify and
11hold the Financial Institution harmless from any and all
12claims, demands, and losses, including reasonable attorneys
13fees and expenses, arising from or incurred in its reliance on
14this Consent and Authorization. As used herein, "Customer"
15shall mean "Member" if the Financial Institution is a credit
16union.
 
17....................... ...................... 
18(Date)                  (Signature of Customer)             
 
19                         ...................... 
20                         ...................... 
21                         (Address of Customer) 
 
22                         ...................... 
23                         (Customer's birth date) 

 

 

SB2385 Enrolled- 40 -LRB100 17898 MJP 33082 b

1                         (month/day/year) 
 
2The undersigned witness certifies that .................,
3known to me to be the same person whose name is subscribed as
4the customer to the foregoing Consent and Authorization,
5appeared before me and the notary public and acknowledged
6signing and delivering the instrument as his or her free and
7voluntary act for the uses and purposes therein set forth. I
8believe him or her to be of sound mind and memory. The
9undersigned witness also certifies that the witness is not an
10owner, operator, or relative of an owner or operator of a
11long-term care facility in which the customer is a patient or
12resident.
 
13Dated: ................. ...................... 
14                         (Signature of Witness) 
 
15                         ...................... 
16                         (Print Name of Witness) 
 
17                         ...................... 
18                         ...................... 
19                         (Address of Witness) 
 
20State of Illinois)
21                 ) ss.

 

 

SB2385 Enrolled- 41 -LRB100 17898 MJP 33082 b

1County of .......)
 
2The undersigned, a notary public in and for the above county
3and state, certifies that .........., known to me to be the
4same person whose name is subscribed as the customer to the
5foregoing Consent and Authorization, appeared before me
6together with the witness, .........., in person and
7acknowledged signing and delivering the instrument as the free
8and voluntary act of the customer for the uses and purposes
9therein set forth.
 
10Dated:.......................................................
11Notary Public:...............................................
12My commission expires:.......................................
 
13        (b) In no event shall the credit union distribute the
14    member's financial records to the long-term care facility
15    from which the member seeks initial or continuing residency
16    or long-term care services.
17        (c) A credit union providing financial records of a
18    member in good faith relying on a consent and authorization
19    executed and tendered in accordance with this subparagraph
20    (17) shall not be liable to the member or any other person
21    in relation to the credit union's disclosure of the
22    member's financial records to the Department. The member
23    signing the consent and authorization shall indemnify and

 

 

SB2385 Enrolled- 42 -LRB100 17898 MJP 33082 b

1    hold the credit union harmless that relies in good faith
2    upon the consent and authorization and incurs a loss
3    because of such reliance. The credit union recovering under
4    this indemnification provision shall also be entitled to
5    reasonable attorney's fees and the expenses of recovery.
6        (d) A credit union shall be reimbursed by the member
7    for all costs reasonably necessary and directly incurred in
8    searching for, reproducing, and disclosing a member's
9    financial records required or requested to be produced
10    pursuant to any consent and authorization executed under
11    this subparagraph (17). The requested financial records
12    shall be delivered to the Department within 10 days after
13    receiving a properly executed consent and authorization or
14    at the earliest practicable time thereafter if the
15    requested records cannot be delivered within 10 days, but
16    delivery may be delayed until the final reimbursement of
17    all costs is received by the credit union. The credit union
18    may honor a photostatic or electronic copy of a properly
19    executed consent and authorization.
20        (e) Nothing in this subparagraph (17) shall impair,
21    abridge, or abrogate the right of a member to:
22            (1) directly disclose his or her financial records
23        to the Department or any other person; or
24            (2) authorize his or her attorney or duly appointed
25        agent to request and obtain the member's financial
26        records and disclose those financial records to the

 

 

SB2385 Enrolled- 43 -LRB100 17898 MJP 33082 b

1        Department.
2        (f) For purposes of this subparagraph (17),
3    "Department" means the Department of Human Services and the
4    Department of Healthcare and Family Services or any
5    successor administrative agency of either agency.
6    (c) Except as otherwise provided by this Act, a credit
7union may not disclose to any person, except to the member or
8his duly authorized agent, any financial records relating to
9that member of the credit union unless:
10        (1) the member has authorized disclosure to the person;
11        (2) the financial records are disclosed in response to
12    a lawful subpoena, summons, warrant, citation to discover
13    assets, or court order that meets the requirements of
14    subparagraph (d) of this Section; or
15        (3) the credit union is attempting to collect an
16    obligation owed to the credit union and the credit union
17    complies with the provisions of Section 2I of the Consumer
18    Fraud and Deceptive Business Practices Act.
19    (d) A credit union shall disclose financial records under
20subparagraph (c)(2) of this Section pursuant to a lawful
21subpoena, summons, warrant, citation to discover assets, or
22court order only after the credit union mails a copy of the
23subpoena, summons, warrant, citation to discover assets, or
24court order to the person establishing the relationship with
25the credit union, if living, and otherwise his personal
26representative, if known, at his last known address by first

 

 

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1class mail, postage prepaid unless the credit union is
2specifically prohibited from notifying the person by order of
3court or by applicable State or federal law. In the case of a
4grand jury subpoena, a credit union shall not mail a copy of a
5subpoena to any person pursuant to this subsection if the
6subpoena was issued by a grand jury under the Statewide Grand
7Jury Act or notifying the person would constitute a violation
8of the federal Right to Financial Privacy Act of 1978.
9    (e)(1) Any officer or employee of a credit union who
10knowingly and wilfully furnishes financial records in
11violation of this Section is guilty of a business offense and
12upon conviction thereof shall be fined not more than $1,000.
13    (2) Any person who knowingly and wilfully induces or
14attempts to induce any officer or employee of a credit union to
15disclose financial records in violation of this Section is
16guilty of a business offense and upon conviction thereof shall
17be fined not more than $1,000.
18    (f) A credit union shall be reimbursed for costs which are
19reasonably necessary and which have been directly incurred in
20searching for, reproducing or transporting books, papers,
21records or other data of a member required or requested to be
22produced pursuant to a lawful subpoena, summons, warrant,
23citation to discover assets, or court order. The Secretary and
24the Director may determine, by rule, the rates and conditions
25under which payment shall be made. Delivery of requested
26documents may be delayed until final reimbursement of all costs

 

 

SB2385 Enrolled- 45 -LRB100 17898 MJP 33082 b

1is received.
2(Source: P.A. 99-143, eff. 7-27-15; 100-22, eff. 1-1-18.)
 
3    Section 99. Effective date. This Act takes effect January
41, 2019.