Illinois General Assembly - Bill Status for SB2955
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 Bill Status of SB2955  99th General Assembly

Short Description:  FINANCIAL INST CURRENCY EXCH

Senate Sponsors
Sen. Jason A. Barickman

House Sponsors
(Rep. Daniel J. Burke)

Last Action
DateChamber Action
  1/10/2017SenateSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 1205/16from Ch. 17, par. 117
205 ILCS 405/14from Ch. 17, par. 4823


Synopsis As Introduced
Amends the Financial Institutions Code. Creates a Supervisor of Consumer Credit and a Supervisor of Title Insurance. Removes the Supervisor of Consumer Finance Business and the Supervisor of Sales Finance Agencies. Amends the Currency Exchange Act. Removes language requiring a licensee to file an annual report, annual bonds, and insurance policies at the same time the licensee pays his or her annual license fees. Effective immediately.

Senate Committee Amendment No. 1
In provisions amending the Currency Exchange Act, restores provisions requiring a licensee to file an annual bond or bonds and insurance policy or policies with the Secretary of Financial and Professional Regulation.

Senate Floor Amendment No. 2
Deletes reference to:
20 ILCS 1205/16
205 ILCS 405/14
Adds reference to:
205 ILCS 5/78from Ch. 17, par. 390
205 ILCS 5/79from Ch. 17, par. 391
205 ILCS 205/12104 rep.
205 ILCS 205/Art. 12.2 rep.
205 ILCS 635/1-4
205 ILCS 635/4-1from Ch. 17, par. 2324-1
205 ILCS 635/4-8from Ch. 17, par. 2324-8
205 ILCS 635/1-5 rep.

Replaces everything after the enacting clause. Amends the Illinois Banking Act. Changes the number of additional members of the State Banking Board of Illinois from 11 to 12. Provides that one member of the Board shall be from a savings bank, and there shall also be an alternate member from a savings bank to attend meetings if and only if the sitting member from a savings bank is unable to attend the meeting. Changes the requirements for the 2 public members. Amends the Savings Bank Act. Repeals provisions relating to the Board of Savings Banks. Amends the Residential Mortgage License Act of 1987. Removes provisions relating to the Residential Mortgage Board. Effective immediately.

Actions 
DateChamber Action
  2/18/2016SenateFiled with Secretary by Sen. Jason A. Barickman
  2/18/2016SenateFirst Reading
  2/18/2016SenateReferred to Assignments
  3/2/2016SenateAssigned to Licensed Activities and Pensions
  3/3/2016SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Jason A. Barickman
  3/3/2016SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/8/2016SenateSenate Committee Amendment No. 1 Assignments Refers to Licensed Activities and Pensions
  3/17/2016SenateSenate Committee Amendment No. 1 Adopted
  3/17/2016SenateDo Pass as Amended Licensed Activities and Pensions; 010-000-000
  3/17/2016SenatePlaced on Calendar Order of 2nd Reading April 5, 2016
  4/19/2016SenateSecond Reading
  4/19/2016SenatePlaced on Calendar Order of 3rd Reading April 20, 2016
  4/22/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As May 13, 2016
  5/3/2016SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Jason A. Barickman
  5/3/2016SenateSenate Floor Amendment No. 2 Referred to Assignments
  5/4/2016SenateSenate Floor Amendment No. 2 Assignments Refers to Licensed Activities and Pensions
  5/4/2016SenateSenate Floor Amendment No. 2 Postponed - Licensed Activities and Pensions
  5/12/2016SenateSenate Floor Amendment No. 2 Recommend Do Adopt Licensed Activities and Pensions; 007-000-000
  5/12/2016SenateRecalled to Second Reading
  5/12/2016SenateSenate Floor Amendment No. 2 Adopted; Barickman
  5/12/2016SenatePlaced on Calendar Order of 3rd Reading
  5/12/2016SenateThird Reading - Passed; 052-001-000
  5/13/2016HouseArrived in House
  5/16/2016HouseChief House Sponsor Rep. Daniel J. Burke
  5/16/2016HouseFirst Reading
  5/16/2016HouseReferred to Rules Committee
  1/10/2017SenateSession Sine Die

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