Illinois General Assembly - Bill Status for HB0063

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Bill Status of HB0063 102nd General Assembly

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Short Description: BANKING ACT-CAPITAL IMPAIRMENT

House Sponsors
Rep. La Shawn K. Ford

Last Action

Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

205 ILCS 5/51

from Ch. 17, par. 363

Synopsis As Introduced
Amends the Illinois Banking Act. Provides that financial institutions have 180 days (was, at least 60 but no more than 180 days) to correct capital impairments before the Commissioner may take possession and control of the bank. Provides that the Commissioner shall not extend the time period for the board of directors to correct a capital impairment for a bank that is critically undercapitalized. Provides that if the Commissioner has given notice to the board of directors requiring the bank to raise capital to correct capital impairment, the Commissioner shall only require a capital raising plan that ensures capital necessary for the bank to be adequately capitalized. Provides that the Commissioner shall not enforce or implement the provisions in a manner inconsistent with the requirements of the Federal Deposit Insurance Corporation. Effective immediately.

Actions

Date	Chamber	Action
1/3/2013	House	Prefiled with Clerk by Rep. La Shawn K. Ford
1/9/2013	House	First Reading
1/9/2013	House	Referred to Rules Committee
1/30/2013	House	Assigned to Financial Institutions Committee
3/22/2013	House	Rule 19(a) / Re-referred to Rules Committee
12/3/2014	House	Session Sine Die

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