Rep. Camille Y. Lilly

Filed: 3/12/2020

 

 


 

 


 
10100HB4897ham001LRB101 16595 BMS 71176 a

1
AMENDMENT TO HOUSE BILL 4897

2    AMENDMENT NO. ______. Amend House Bill 4897 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Banking Act is amended by changing
5Sections 48.1 and 80 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

 

 

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1        (4) any other item containing information pertaining
2    to any relationship established in the ordinary course of a
3    bank's business between a bank and its customer, including
4    financial statements or other financial information
5    provided by the customer.
6    (b) This Section does not prohibit:
7        (1) The preparation, examination, handling or
8    maintenance of any financial records by any officer,
9    employee or agent of a bank having custody of the records,
10    or the examination of the records by a certified public
11    accountant engaged by the bank to perform an independent
12    audit.
13        (2) The examination of any financial records by, or the
14    furnishing of financial records by a bank to, any officer,
15    employee or agent of (i) the Commissioner of Banks and Real
16    Estate, (ii) after May 31, 1997, a state regulatory
17    authority authorized to examine a branch of a State bank
18    located in another state, (iii) the Comptroller of the
19    Currency, (iv) the Federal Reserve Board, or (v) the
20    Federal Deposit Insurance Corporation for use solely in the
21    exercise of his duties as an officer, employee, or agent.
22        (3) The publication of data furnished from financial
23    records relating to customers where the data cannot be
24    identified to any particular customer or account.
25        (4) The making of reports or returns required under
26    Chapter 61 of the Internal Revenue Code of 1986.

 

 

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1        (5) Furnishing information concerning the dishonor of
2    any negotiable instrument permitted to be disclosed under
3    the Uniform Commercial Code.
4        (6) The exchange in the regular course of business of
5    (i) credit information between a bank and other banks or
6    financial institutions or commercial enterprises, directly
7    or through a consumer reporting agency or (ii) financial
8    records or information derived from financial records
9    between a bank and other banks or financial institutions or
10    commercial enterprises for the purpose of conducting due
11    diligence pursuant to a purchase or sale involving the bank
12    or assets or liabilities of the bank.
13        (7) The furnishing of information to the appropriate
14    law enforcement authorities where the bank reasonably
15    believes it has been the victim of a crime.
16        (8) The furnishing of information under the Revised
17    Uniform Unclaimed Property Act.
18        (9) The furnishing of information under the Illinois
19    Income Tax Act and the Illinois Estate and
20    Generation-Skipping Transfer Tax Act.
21        (10) The furnishing of information under the federal
22    Currency and Foreign Transactions Reporting Act Title 31,
23    United States Code, Section 1051 et seq.
24        (11) The furnishing of information under any other
25    statute that by its terms or by regulations promulgated
26    thereunder requires the disclosure of financial records

 

 

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

 

 

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1        (15) The exchange in the regular course of business of
2    information between a bank and any commonly owned affiliate
3    of the bank, subject to the provisions of the Financial
4    Institutions Insurance Sales Law.
5        (16) 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 bank that a customer who is an elderly person or person
12    with a disability has been or may become the victim of
13    financial exploitation. For the purposes of this item (16),
14    the term: (i) "elderly person" means a person who is 60 or
15    more years of age, (ii) "disabled person" means a person
16    who has or reasonably appears to the bank to have a
17    physical or mental disability that impairs his or her
18    ability to seek or obtain protection from or prevent
19    financial exploitation, and (iii) "financial exploitation"
20    means tortious or illegal use of the assets or resources of
21    an elderly or disabled person, and includes, without
22    limitation, misappropriation of the elderly or disabled
23    person's assets or resources by undue influence, breach of
24    fiduciary relationship, intimidation, fraud, deception,
25    extortion, or the use of assets or resources in any manner
26    contrary to law. A bank or person furnishing information

 

 

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

 

 

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1    information is limited to outstanding balance, available
2    credit, payment and performance and account history,
3    product references, purchase information, and information
4    related to the identity of the customer.
5        (B)(1) For purposes of this paragraph (19) of
6    subsection (b) of Section 48.1, a "private label credit
7    program" means a credit program involving a financial
8    institution and a private label party that is used by a
9    customer of the financial institution and the private label
10    party primarily for payment for goods or services sold,
11    manufactured, or distributed by a private label party.
12        (2) For purposes of this paragraph (19) of subsection
13    (b) of Section 48.1, a "private label party" means, with
14    respect to a private label credit program, any of the
15    following: a retailer, a merchant, a manufacturer, a trade
16    group, or any such person's affiliate, subsidiary, member,
17    agent, or service provider.
18        (20)(A) The furnishing of financial records of a
19    customer to the Department to aid the Department's initial
20    determination or subsequent re-determination of the
21    customer's eligibility for Medicaid and Medicaid long-term
22    care benefits for long-term care services, provided that
23    the bank receives the written consent and authorization of
24    the customer, which shall:
25            (1) have the customer's signature notarized;
26            (2) be signed by at least one witness who certifies

 

 

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1        that he or she believes the customer to be of sound
2        mind and memory;
3            (3) be tendered to the bank at the earliest
4        practicable time following its execution,
5        certification, and notarization;
6            (4) specifically limit the disclosure of the
7        customer's financial records to the Department; and
8            (5) be in substantially the following form:
 
9
CUSTOMER CONSENT AND AUTHORIZATION
10
FOR RELEASE OF FINANCIAL RECORDS

 
11I, ......................................., hereby authorize 
12       (Name of Customer) 
 
13............................................................. 
14(Name of Financial Institution)
 
15............................................................. 
16(Address of Financial Institution)
 
17to disclose the following financial records:
 
18any and all information concerning my deposit, savings, money
19market, certificate of deposit, individual retirement,
20retirement plan, 401(k) plan, incentive plan, employee benefit

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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1    provision shall also be entitled to reasonable attorney's
2    fees and the expenses of recovery.
3        (D) A bank shall be reimbursed by the customer for all
4    costs reasonably necessary and directly incurred in
5    searching for, reproducing, and disclosing a customer's
6    financial records required or requested to be produced
7    pursuant to any consent and authorization executed under
8    this paragraph (20). The requested financial records shall
9    be delivered to the Department within 10 days after
10    receiving a properly executed consent and authorization or
11    at the earliest practicable time thereafter if the
12    requested records cannot be delivered within 10 days, but
13    delivery may be delayed until the final reimbursement of
14    all costs is received by the bank. The bank may honor a
15    photostatic or electronic copy of a properly executed
16    consent and authorization.
17        (E) Nothing in this paragraph (20) shall impair,
18    abridge, or abrogate the right of a customer to:
19            (1) directly disclose his or her financial records
20        to the Department or any other person; or
21            (2) authorize his or her attorney or duly appointed
22        agent to request and obtain the customer's financial
23        records and disclose those financial records to the
24        Department.
25        (F) For purposes of this paragraph (20), "Department"
26    means the Department of Human Services and the Department

 

 

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

 

 

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1by order of court or by applicable State or federal law. A bank
2shall not mail a copy of a subpoena to any person pursuant to
3this subsection if the subpoena was issued by a grand jury
4under the Statewide Grand Jury Act.
5    (d-1) If a subpoena, summons, warrant, or other request for
6a customer's records is presented to the bank by an agency or
7department of the federal government, or by an officer, agent,
8or employee of such federal agency or department, a bank is not
9required to release records until the bank has been furnished
10with a written certification that the requesting agency or
11department has satisfied its obligations under the federal
12Right to Financial Privacy Act of 1978.
13    (e) Any officer or employee of a bank who knowingly and
14willfully furnishes financial records in violation of this
15Section is guilty of a business offense and, upon conviction,
16shall be fined not more than $1,000.
17    (f) Any person who knowingly and willfully induces or
18attempts to induce any officer or employee of a bank to
19disclose financial records in violation of this Section is
20guilty of a business offense and, upon conviction, shall be
21fined not more than $1,000.
22    (g) A bank shall be reimbursed for costs that are
23reasonably necessary and that have been directly incurred in
24searching for, reproducing, or transporting books, papers,
25records, or other data required or requested to be produced
26pursuant to a lawful subpoena, summons, warrant, citation to

 

 

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1discover assets, or court order. The Commissioner shall
2determine the rates and conditions under which payment may be
3made.
4(Source: P.A. 100-22, eff. 1-1-18; 100-664, eff. 1-1-19;
5100-888, eff. 8-14-18; 101-81, eff. 7-12-19.)
 
6    (205 ILCS 5/80)  (from Ch. 17, par. 392)
7    Sec. 80. Board; powers. The Board shall have the following
8powers in addition to any others that may be granted to it by
9law:
10    (a) (Blank).
11    (b) To review, consider, and make recommendations to the
12Director of Banking upon any banking matters.
13    (c) (Blank).
14    (d) (Blank).
15    (e) To review, consider, and submit to the Director of
16Banking and to the Governor proposals for amendments to this
17Act or for changes in or additions to the administration
18thereof which in the opinion of the Board are necessary or
19desirable in order to assure the safe and sound conduct of the
20banking business.
21    (f) To require the Secretary to furnish the Board space for
22meetings to be held by the Board as well as to require the
23Secretary to provide such clerical and technical assistance as
24the Board may require.
25    (g) To adopt its own by-laws with respect to Board meetings

 

 

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1and procedures. Such by-laws shall provide that:
2        (i) A majority of the whole Board constitutes a quorum.
3        (ii) A majority of the quorum shall constitute
4    effective action except that a vote of a majority of the
5    whole Board shall be necessary for recommendations made to
6    the Director of Banking and to the Governor with regard to
7    proposed amendments to this Act or to the administrative
8    practices hereunder.
9        (iii) The Board shall meet at least once in each
10    calendar year and upon the call of the Director of Banking
11    or a majority of the Board. The Director of Banking or a
12    majority of the Board may call such special or additional
13    meetings as may be deemed necessary or desirable.
14    (h) (Blank).
15    (i) (Blank).
16    (j) (Blank).
17    (k) (Blank).
18    (l) (Blank).
19    (m) To authorize the transfer of funds from the Illinois
20Bank Examiners' Education Fund to the Bank and Trust Company
21Fund. Any amount transferred shall be retransferred to the
22Illinois Bank Examiners' Education Fund from the Bank and Trust
23Company Fund within 3 years.
24    (n) To maintain and direct the investments of the Illinois
25Bank Examiners' Education Fund.
26    (o) To evaluate various courses, programs, curricula, and

 

 

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1schools of continuing education and professional training that
2are available from within the United States for State banking
3department examination personnel and develop a program known as
4the Illinois Bank Examiners' Education Program. The Board shall
5determine which courses, programs, curricula, and schools will
6be included in the Program to be funded by the Foundation.
7    (p) To review and examine bank call report fee revenue and
8the disbursement of the fees.
9(Source: P.A. 96-1163, eff. 1-1-11.)
 
10    Section 10. The Savings Bank Act is amended by changing
11Section 4013 as follows:
 
12    (205 ILCS 205/4013)  (from Ch. 17, par. 7304-13)
13    Sec. 4013. Access to books and records; communication with
14members and shareholders.
15    (a) Every member or shareholder shall have the right to
16inspect books and records of the savings bank that pertain to
17his accounts. Otherwise, the right of inspection and
18examination of the books and records shall be limited as
19provided in this Act, and no other person shall have access to
20the books and records nor shall be entitled to a list of the
21members or shareholders.
22    (b) For the purpose of this Section, the term "financial
23records" means any original, any copy, or any summary of (1) a
24document granting signature authority over a deposit or

 

 

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1account; (2) a statement, ledger card, or other record on any
2deposit or account that shows each transaction in or with
3respect to that account; (3) a check, draft, or money order
4drawn on a savings bank or issued and payable by a savings
5bank; or (4) any other item containing information pertaining
6to any relationship established in the ordinary course of a
7savings bank's business between a savings bank and its
8customer, including financial statements or other financial
9information provided by the member or shareholder.
10    (c) This Section does not prohibit:
11        (1) The preparation, examination, handling, or
12    maintenance of any financial records by any officer,
13    employee, or agent of a savings bank having custody of
14    records or examination of records by a certified public
15    accountant engaged by the savings bank to perform an
16    independent audit.
17        (2) The examination of any financial records by, or the
18    furnishing of financial records by a savings bank to, any
19    officer, employee, or agent of the Commissioner of Banks
20    and Real Estate or the federal depository institution
21    regulator for use solely in the exercise of his duties as
22    an officer, employee, or agent.
23        (3) The publication of data furnished from financial
24    records relating to members or holders of capital where the
25    data cannot be identified to any particular member,
26    shareholder, or account.

 

 

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1        (4) The making of reports or returns required under
2    Chapter 61 of the Internal Revenue Code of 1986.
3        (5) Furnishing information concerning the dishonor of
4    any negotiable instrument permitted to be disclosed under
5    the Uniform Commercial Code.
6        (6) The exchange in the regular course of business of
7    (i) credit information between a savings bank and other
8    savings banks or financial institutions or commercial
9    enterprises, directly or through a consumer reporting
10    agency or (ii) financial records or information derived
11    from financial records between a savings bank and other
12    savings banks or financial institutions or commercial
13    enterprises for the purpose of conducting due diligence
14    pursuant to a purchase or sale involving the savings bank
15    or assets or liabilities of the savings bank.
16        (7) The furnishing of information to the appropriate
17    law enforcement authorities where the savings bank
18    reasonably believes it has been the victim of a crime.
19        (8) The furnishing of information pursuant to the
20    Revised Uniform Unclaimed Property Act.
21        (9) The furnishing of information pursuant to the
22    Illinois Income Tax Act and the Illinois Estate and
23    Generation-Skipping Transfer Tax Act.
24        (10) The furnishing of information pursuant to the
25    federal Currency and Foreign Transactions Reporting Act,
26    (Title 31, United States Code, Section 1051 et seq.).

 

 

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

 

 

10100HB4897ham001- 22 -LRB101 16595 BMS 71176 a

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

 

 

10100HB4897ham001- 23 -LRB101 16595 BMS 71176 a

1        (14) The disclosure of financial records or
2    information as necessary to effect, administer, or enforce
3    a transaction requested or authorized by the member or
4    holder of capital, or in connection with:
5            (A) servicing or processing a financial product or
6        service requested or authorized by the member or holder
7        of capital;
8            (B) maintaining or servicing an account of a member
9        or holder of capital with the savings bank; or
10            (C) a proposed or actual securitization or
11        secondary market sale (including sales of servicing
12        rights) related to a transaction of a member or holder
13        of capital.
14        Nothing in this item (14), however, authorizes the sale
15    of the financial records or information of a member or
16    holder of capital without the consent of the member or
17    holder of capital.
18        (15) The exchange in the regular course of business of
19    information between a savings bank and any commonly owned
20    affiliate of the savings bank, subject to the provisions of
21    the Financial Institutions Insurance Sales Law.
22        (16) 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        (17)(a) The disclosure of financial records or

 

 

10100HB4897ham001- 24 -LRB101 16595 BMS 71176 a

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 (17) of
9    subsection (c) of Section 4013, 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 (17) of subsection
16    (c) of Section 4013, 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        (18)(a) The furnishing of financial records of a
22    customer to the Department to aid the Department's initial
23    determination or subsequent re-determination of the
24    customer's eligibility for Medicaid and Medicaid long-term
25    care benefits for long-term care services, provided that
26    the savings bank receives the written consent and

 

 

10100HB4897ham001- 25 -LRB101 16595 BMS 71176 a

1    authorization of the customer, which shall:
2            (1) have the customer's signature notarized;
3            (2) be signed by at least one witness who certifies
4        that he or she believes the customer to be of sound
5        mind and memory;
6            (3) be tendered to the savings bank at the earliest
7        practicable time following its execution,
8        certification, and notarization;
9            (4) specifically limit the disclosure of the
10        customer'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:
 

 

 

10100HB4897ham001- 26 -LRB101 16595 BMS 71176 a

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

 

 

10100HB4897ham001- 27 -LRB101 16595 BMS 71176 a

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) 

 

 

10100HB4897ham001- 28 -LRB101 16595 BMS 71176 a

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.

 

 

10100HB4897ham001- 29 -LRB101 16595 BMS 71176 a

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 savings bank distribute the
14    customer's financial records to the long-term care
15    facility from which the customer seeks initial or
16    continuing residency or long-term care services.
17        (c) A savings bank providing financial records of a
18    customer in good faith relying on a consent and
19    authorization executed and tendered in accordance with
20    this paragraph (18) shall not be liable to the customer or
21    any other person in relation to the savings bank's
22    disclosure of the customer's financial records to the
23    Department. The customer signing the consent and

 

 

10100HB4897ham001- 30 -LRB101 16595 BMS 71176 a

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

 

 

10100HB4897ham001- 31 -LRB101 16595 BMS 71176 a

1        records and disclose those financial records to the
2        Department.
3        (f) For purposes of this paragraph (18), "Department"
4    means the Department of Human Services and the Department
5    of Healthcare and Family Services or any successor
6    administrative agency of either agency.
7    (d) A savings bank may not disclose to any person, except
8to the member or holder of capital or his duly authorized
9agent, any financial records relating to that member or
10shareholder of the savings bank unless:
11        (1) the member or shareholder has authorized
12    disclosure to the person; or
13        (2) the financial records are disclosed in response to
14    a lawful subpoena, summons, warrant, citation to discover
15    assets, or court order that meets the requirements of
16    subsection (e) of this Section.
17    (e) A savings bank shall disclose financial records under
18subsection (d) of this Section pursuant to a lawful subpoena,
19summons, warrant, citation to discover assets, or court order
20only after the savings bank mails a copy of the subpoena,
21summons, warrant, citation to discover assets, or court order
22to the person establishing the relationship with the savings
23bank, if living, and otherwise, his personal representative, if
24known, at his last known address by first class mail, postage
25prepaid, unless the savings bank is specifically prohibited
26from notifying the person by order of court.

 

 

10100HB4897ham001- 32 -LRB101 16595 BMS 71176 a

1    (e-1) If a subpoena, summons, warrant, or other request for
2a customer's records is presented to the savings bank by an
3agency or department of the federal government, or by an
4officer, agent, or employee of such federal agency or
5department, a savings bank is not required to release records
6until the savings bank has been furnished with a written
7certification that the requesting agency or department has
8satisfied its obligations under the federal Right to Financial
9Privacy Act of 1978.
10    (f) Any officer or employee of a savings bank who knowingly
11and willfully furnishes financial records in violation of this
12Section is guilty of a business offense and, upon conviction,
13shall be fined not more than $1,000.
14    (g) Any person who knowingly and willfully induces or
15attempts to induce any officer or employee of a savings bank to
16disclose financial records in violation of this Section is
17guilty of a business offense and, upon conviction, shall be
18fined not more than $1,000.
19    (h) If any member or shareholder desires to communicate
20with the other members or shareholders of the savings bank with
21reference to any question pending or to be presented at an
22annual or special meeting, the savings bank shall give that
23person, upon request, a statement of the approximate number of
24members or shareholders entitled to vote at the meeting and an
25estimate of the cost of preparing and mailing the
26communication. The requesting member shall submit the

 

 

10100HB4897ham001- 33 -LRB101 16595 BMS 71176 a

1communication to the Commissioner who, upon finding it to be
2appropriate and truthful, shall direct that it be prepared and
3mailed to the members upon the requesting member's or
4shareholder's payment or adequate provision for payment of the
5expenses of preparation and mailing.
6    (i) A savings bank shall be reimbursed for costs that are
7necessary and that have been directly incurred in searching
8for, reproducing, or transporting books, papers, records, or
9other data of a customer required to be reproduced pursuant to
10a lawful subpoena, warrant, citation to discover assets, or
11court order.
12    (j) Notwithstanding the provisions of this Section, a
13savings bank may sell or otherwise make use of lists of
14customers' names and addresses. All other information
15regarding a customer's account is subject to the disclosure
16provisions of this Section. At the request of any customer,
17that customer's name and address shall be deleted from any list
18that is to be sold or used in any other manner beyond
19identification of the customer's accounts.
20(Source: P.A. 99-143, eff. 7-27-15; 100-22, eff. 1-1-18;
21100-201, eff. 8-18-17; 100-664, eff. 1-1-19.)
 
22    Section 15. The Illinois Credit Union Act is amended by
23changing Section 10 as follows:
 
24    (205 ILCS 305/10)  (from Ch. 17, par. 4411)

 

 

10100HB4897ham001- 34 -LRB101 16595 BMS 71176 a

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

 

 

10100HB4897ham001- 35 -LRB101 16595 BMS 71176 a

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

 

 

10100HB4897ham001- 36 -LRB101 16595 BMS 71176 a

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

 

 

10100HB4897ham001- 37 -LRB101 16595 BMS 71176 a

1    surrendering any assets held by the credit union in
2    response to a lien or order to withhold and deliver issued
3    by a State agency, or for any other action taken pursuant
4    to this item, including individual or mechanical errors,
5    provided the action does not constitute gross negligence or
6    willful misconduct. A credit union shall have no obligation
7    to hold, encumber, or surrender assets until it has been
8    served with a subpoena, summons, warrant, court or
9    administrative order, lien, or levy.
10        (13) The furnishing of information to law enforcement
11    authorities, the Illinois Department on Aging and its
12    regional administrative and provider agencies, the
13    Department of Human Services Office of Inspector General,
14    or public guardians: (i) upon subpoena by the investigatory
15    entity or the guardian, or (ii) if there is suspicion by
16    the credit union that a member who is an elderly person or
17    person with a disability has been or may become the victim
18    of financial exploitation. For the purposes of this item
19    (13), the term: (i) "elderly person" means a person who is
20    60 or more years of age, (ii) "person with a disability"
21    means a person who has or reasonably appears to the credit
22    union to have a physical or mental disability that impairs
23    his or her ability to seek or obtain protection from or
24    prevent financial exploitation, and (iii) "financial
25    exploitation" means tortious or illegal use of the assets
26    or resources of an elderly person or person with a

 

 

10100HB4897ham001- 38 -LRB101 16595 BMS 71176 a

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

 

 

10100HB4897ham001- 39 -LRB101 16595 BMS 71176 a

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

 

 

10100HB4897ham001- 40 -LRB101 16595 BMS 71176 a

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

 
16I, ......................................., hereby authorize 
17       (Name of Customer) 
 
18............................................................. 
19(Name of Financial Institution)
 
20............................................................. 
21(Address of Financial Institution)
 

 

 

10100HB4897ham001- 41 -LRB101 16595 BMS 71176 a

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
22shall constitute valid authorization for the Department

 

 

10100HB4897ham001- 42 -LRB101 16595 BMS 71176 a

1identified above to inspect all such financial records set
2forth above, and to request and receive copies of such
3financial records from the Financial Institution (subject to
4such records search and reproduction reimbursement policies as
5the Financial Institution may have in place). An executed copy
6of this Consent and Authorization shall be sufficient and as
7good as the original and permission is hereby granted to honor
8a photostatic or electronic copy of this Consent and
9Authorization. Disclosure is strictly limited to the
10Department identified above and no other person or entity shall
11receive my financial records pursuant to this Consent and
12Authorization. By signing this form, I agree to indemnify and
13hold the Financial Institution harmless from any and all
14claims, demands, and losses, including reasonable attorneys
15fees and expenses, arising from or incurred in its reliance on
16this Consent and Authorization. As used herein, "Customer"
17shall mean "Member" if the Financial Institution is a credit
18union.
 
19....................... ...................... 
20(Date)                  (Signature of Customer)             
 
21                         ...................... 
22                         ...................... 
23                         (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 credit union distribute the
16    member's financial records to the long-term care facility
17    from which the member seeks initial or continuing residency
18    or long-term care services.
19        (c) A credit union providing financial records of a
20    member in good faith relying on a consent and authorization
21    executed and tendered in accordance with this item (17)
22    shall not be liable to the member or any other person in
23    relation to the credit union's disclosure of the member's

 

 

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

 

 

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1        agent to request and obtain the member's financial
2        records and disclose those financial records to the
3        Department.
4        (f) For purposes of this item (17), "Department" means
5    the Department of Human Services and the Department of
6    Healthcare and Family Services or any successor
7    administrative agency of either agency.
8        (18) The furnishing of the financial records of a
9    member to an appropriate law enforcement authority,
10    without prior notice to or consent of the member, upon
11    written request of the law enforcement authority, when
12    reasonable suspicion of an imminent threat to the personal
13    security and safety of the member exists that necessitates
14    an expedited release of the member's financial records, as
15    determined by the law enforcement authority. The law
16    enforcement authority shall include a brief explanation of
17    the imminent threat to the member in its written request to
18    the credit union. The written request shall reflect that it
19    has been authorized by a supervisory or managerial official
20    of the law enforcement authority. The decision to furnish
21    the financial records of a member to a law enforcement
22    authority shall be made by a supervisory or managerial
23    official of the credit union. A credit union providing
24    information in accordance with this item (18) shall not be
25    liable to the member or any other person for the disclosure
26    of the information to the law enforcement authority.

 

 

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1    (c) Except as otherwise provided by this Act, a credit
2union may not disclose to any person, except to the member or
3his duly authorized agent, any financial records relating to
4that member of the credit union unless:
5        (1) the member has authorized disclosure to the person;
6        (2) the financial records are disclosed in response to
7    a lawful subpoena, summons, warrant, citation to discover
8    assets, or court order that meets the requirements of
9    subparagraph (3)(d) of this Section; or
10        (3) the credit union is attempting to collect an
11    obligation owed to the credit union and the credit union
12    complies with the provisions of Section 2I of the Consumer
13    Fraud and Deceptive Business Practices Act.
14    (d) A credit union shall disclose financial records under
15item (3)(c)(2) of this Section pursuant to a lawful subpoena,
16summons, warrant, citation to discover assets, or court order
17only after the credit union mails a copy of the subpoena,
18summons, warrant, citation to discover assets, or court order
19to the person establishing the relationship with the credit
20union, if living, and otherwise his personal representative, if
21known, at his last known address by first class mail, postage
22prepaid unless the credit union is specifically prohibited from
23notifying the person by order of court or by applicable State
24or federal law. In the case of a grand jury subpoena, a credit
25union shall not mail a copy of a subpoena to any person
26pursuant to this subsection if the subpoena was issued by a

 

 

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1grand jury under the Statewide Grand Jury Act or notifying the
2person would constitute a violation of the federal Right to
3Financial Privacy Act of 1978.
4    (d-1) If a subpoena, summons, warrant, or other request for
5a customer's records is presented to the credit union by an
6agency or department of the federal government, or by an
7officer, agent, or employee of such federal agency or
8department, a credit union is not required to release records
9until the credit union has been furnished with a written
10certification that the requesting agency or department has
11satisfied its obligations under the federal Right to Financial
12Privacy Act of 1978.
13    (e)(1) Any officer or employee of a credit union who
14knowingly and willfully furnishes financial records in
15violation of this Section is guilty of a business offense and
16upon conviction thereof shall be fined not more than $1,000.
17    (2) Any person who knowingly and willfully induces or
18attempts to induce any officer or employee of a credit union to
19disclose financial records in violation of this Section is
20guilty of a business offense and upon conviction thereof shall
21be fined not more than $1,000.
22    (f) A credit union shall be reimbursed for costs which are
23reasonably necessary and which have been directly incurred in
24searching for, reproducing or transporting books, papers,
25records or other data of a member required or requested to be
26produced pursuant to a lawful subpoena, summons, warrant,

 

 

10100HB4897ham001- 49 -LRB101 16595 BMS 71176 a

1citation to discover assets, or court order. The Secretary and
2the Director may determine, by rule, the rates and conditions
3under which payment shall be made. Delivery of requested
4documents may be delayed until final reimbursement of all costs
5is received.
6(Source: P.A. 100-22, eff. 1-1-18; 100-664, eff. 1-1-19;
7100-778, eff. 8-10-18; 101-81, eff. 7-12-19.)
 
8    Section 20. The Illinois Trust and Payable on Death
9Accounts Act is amended by changing Section 4 as follows:
 
10    (205 ILCS 625/4)  (from Ch. 17, par. 2134)
11    Sec. 4. Payable on Death Account Incidents. If one or more
12persons opening or holding an account sign an agreement with
13the institution providing that on the death of the last
14surviving person designated as holder the account shall be paid
15to or held by one or more designated beneficiaries, the
16account, and any balance therein which exists from time to
17time, shall be held as a payment on death account and unless
18otherwise agreed in writing between the person or persons
19opening or holding the account and the institution:
20    (a) Any holder during his or her lifetime may change any of
21the designated beneficiaries to own the account at the death of
22the last surviving holder without the knowledge or consent of
23any other holder or the designated beneficiaries by a written
24instrument accepted by the institution;

 

 

10100HB4897ham001- 50 -LRB101 16595 BMS 71176 a

1    (b) Any holder may make additional deposits to and withdraw
2any part or all of the account at any time without the
3knowledge or consent of any other holder or the designated
4beneficiaries to own the account at the death of the last
5surviving holder, subject to the bylaws and regulations of the
6institution, and all withdrawals shall constitute a revocation
7of the agreement as to the amount withdrawn; and
8    (c) Upon the death of the last surviving holder of the
9account, the beneficiary designated to be the owner of the
10account (i) who is then living, if the beneficiary is a natural
11person, or (ii) that maintains a lawful existence under the
12state or federal authority pursuant to which it was organized,
13if the beneficiary is not a natural person, shall be the sole
14owner of the account. If , unless more than one beneficiary is
15so designated and then living or in existence, in which case
16those beneficiaries shall hold the account in equal shares as
17tenants in common with no right of survivorship as between
18those beneficiaries; and .
19    (d) Notwithstanding anything to the contrary in subsection
20(c), any holder of the account may elect a per stirpes
21distribution option to the descendants of a natural person
22beneficiary if the beneficiary predeceases the last surviving
23holder of the account. The institution may rely on the account
24holder's written representation of the identity of the
25descendants of each beneficiary living at the time of the
26beneficiary designation. The institution may also rely on an

 

 

10100HB4897ham001- 51 -LRB101 16595 BMS 71176 a

1affidavit executed by a natural person beneficiary or
2descendant of a natural person beneficiary of the last
3surviving holder of the account upon or after the death of the
4account holder that identifies the descendants of any
5predeceased natural person beneficiary. The total percentage
6of the account to be distributed to all beneficiaries upon the
7death of the last surviving holder of the account must equal
8100%. If no beneficiary designated as the owner of the account
9on the death of the last surviving holder is then living or in
10existence, or if no descendant of a natural person beneficiary
11is then living if a per stirpes distribution has been selected,
12the proceeds shall vest in the estate of the last surviving
13holder of the account.
14(Source: P.A. 96-1151, eff. 7-21-10.)
 
15    Section 25. The Promissory Note and Bank Holiday Act is
16amended by changing Section 17 as follows:
 
17    (205 ILCS 630/17)  (from Ch. 17, par. 2201)
18    Sec. 17. Holidays.
19    (a) The following days shall be legal holidays in the State
20of Illinois upon which day a bank may, but is not required to,
21remain closed:
22    the first day of January (New Year's Day);
23    the third Monday in January (observance of Martin Luther
24King, Jr.'s birthday);

 

 

10100HB4897ham001- 52 -LRB101 16595 BMS 71176 a

1    the twelfth day in February (Abraham Lincoln's birthday);
2    the third Monday in February (Presidents Day);
3    the first Monday in March (observance of Casimir Pulaski's
4birthday);
5    the Friday preceding Easter Sunday (Good Friday);
6    the last Monday of May (Memorial Day);
7    the fourth day of July (Independence Day);
8    the first Monday in September (Labor Day);
9    the second Monday in October (Columbus Day);
10    the eleventh day of November (Veterans' Day);
11    the fourth Thursday in November (Thanksgiving Day);
12    the twenty-fifth day in December (Christmas Day);
13    the days upon which the general elections for members of
14the House of Representatives are held, and any day proclaimed
15by the Governor of this State as a legal holiday. From 12
16o'clock noon to 12 o'clock midnight of each Saturday shall be
17considered a half holiday. In addition to such holidays and
18half-holidays, a bank may select one day of the week to remain
19closed, as provided in subsection (b) of this Section.
20    (b) Any bank doing business within this State may select
21any one day of the week to remain closed on a regular basis
22upon adoption of a resolution by the board of directors of such
23bank designating the day selected and upon filing and
24publishing a copy of such resolution as hereinafter required.
25Any such resolution shall be deemed effective for the purpose
26of this Section only when a copy thereof, certified by an

 

 

10100HB4897ham001- 53 -LRB101 16595 BMS 71176 a

1officer having charge of the records of such bank, is filed
2with the Recorder of the county in which such bank is located
3and published once each week for 3 successive weeks in a
4newspaper of general circulation in such county. Such
5publication shall be accomplished by, and at the expense of,
6the bank, and the bank shall submit to the Commissioner of
7Banks and Real Estate such evidence of the publication as the
8Commissioner shall deem appropriate. Any such selection shall
9remain in full force and effect until a copy of the later
10resolution of the board of directors of such bank, certified in
11like manner, terminating or altering any such prior selection
12shall be filed and published in the same manner as such prior
13resolution.
14    (c) If an occasion arises when a state bank wishes to
15remain closed on a particular day, other than a day on which
16the bank has selected to remain closed on a regular basis as
17provided in this Section, such state bank may remain closed on
18such an occasion after first sending to the Commissioner a copy
19of a resolution adopted by the board of directors authorizing
20the bank to remain closed on such occasion and notice of the
21intent to remain closed on such occasion shall be conspicuously
22posted in the lobby of the main banking office and any branches
23of such bank for at least 3 weeks in advance of such occasion.
24Any day which any bank doing business within the State shall
25select to remain closed pursuant to this Section shall, with
26respect to such bank, be treated and considered as a Sunday.

 

 

10100HB4897ham001- 54 -LRB101 16595 BMS 71176 a

1Notwithstanding the notification time frames and procedures
2otherwise stated in this subsection, if the bank is going to be
3closed for no more than a half day to permit personnel to
4attend a funeral, visitation, or other memorial service held
5for a deceased officer, employee, or director of the bank, or a
6family member of such person, the bank need only notify the
7Secretary and post conspicuously in the lobby of any affected
8office or branch of the bank notice of the hours during which
9the bank will be closed. Such notification to the Secretary and
10posting of notice in the lobby of the office or branch shall be
11accomplished not less than 24 hours in advance of the day
12during which such closing will occur.
13    (d) All legal holidays, the half holidays and any day
14selected by a bank doing business within the State to remain
15closed, shall, for all purposes whatsoever, as regards the
16presenting for payment or acceptance, the maturity and
17protesting and giving of notice of the dishonor of bills of
18exchange, bank checks and promissory notes and other negotiable
19or commercial paper or instrument, be treated and considered as
20a Sunday. When any such holidays fall on Sunday, the Monday
21next following shall be held and considered such holiday. All
22notes, bills, drafts, checks or other evidence of indebtedness,
23falling due or maturing on either of such days, shall be deemed
24as due or maturing upon the day following, and when 2 or more
25of these days come together, or immediately succeeding each
26other, then such instruments, paper or indebtedness shall be

 

 

10100HB4897ham001- 55 -LRB101 16595 BMS 71176 a

1deemed as due or having matured on the day following the last
2of such days.
3    (e) Any act authorized, required or permitted to be
4performed at or by or with respect to any bank doing business
5within the State on a day which it has selected to remain
6closed under this Section may be so performed on the next
7succeeding business day and no liability or loss of rights of
8any kind shall result from such delay.
9    (f) Nothing in this Act shall in any manner affect the
10validity of, or render void or voidable, the payment,
11certification, or acceptance of a check or other negotiable
12instrument, or any other transaction by a bank in this State,
13because done or performed on any Saturday, Sunday, holiday, or
14any day selected by a bank to remain closed, or during any time
15other than regular banking hours; but no bank in this State,
16which by law or custom is entitled to remain open or to close
17for the whole or any part of any day selected by it to remain
18open or to close, is compelled to close, or to remain open for
19the transaction of business or to perform any of the acts or
20transactions aforesaid except at its own option.
21(Source: P.A. 89-508, eff. 7-3-96; 89-567, eff. 7-26-96; 90-14,
22eff. 7-1-97.)".