Illinois General Assembly - Bill Status for HB4345

Illinois General Assembly - Bill Status for HB4345

Home

Legislation & Laws

Senate

House

Site Map

Previous General Assemblies

Bill Status of HB4345 94th General Assembly

Full Text Votes Witness Slips View All Actions Printer-Friendly Version

Short Description: S&L-SAVINGS BANK-USE OF NAME

House Sponsors
Rep. Daniel J. Burke - Joseph M. Lyons - Thomas Holbrook - Mike Boland, Roger Jenisch and Frank J. Mautino

Senate Sponsors
(Sen. Jacqueline Y. Collins - Dan Rutherford - Christine Radogno - Todd Sieben)

Last Action

Date	Chamber	Action
6/6/2006	House	Public Act . . . . . . . . . 94-0833

Statutes Amended In Order of Appearance

205 ILCS 105/1-1.5 new

205 ILCS 105/1-5

from Ch. 17, par. 3301-5

205 ILCS 205/1001.5 new

205 ILCS 205/1004

from Ch. 17, par. 7301-4

Synopsis As Introduced
Amends the Illinois Savings and Loan Act of 1985 and the Savings Bank Act. Prohibits any person or group of persons from (1) using the name of an existing savings and loan association or savings bank when marketing or soliciting business from customers or prospective customers if the name is used without the written consent of that association or savings bank or (2) using a name that is similar to that of an existing savings and loan association or savings bank when marketing to or soliciting business from customers or prospective customers if the similar name is used in a manner that would cause a reasonable person to believe that the existing association or savings bank originated, endorsed, or is in any other way responsible for the marketing material or solicitation. Authorizes the Secretary of Financial and Professional Regulation to issue cease and desist orders for violation of these provisions. Imposes civil penalties for violation of the these provisions and for violation of the cease and desist order. Authorizes the Department of Financial and Professional Regulation to adopt rules to administer the provisions. Makes other changes. Effective immediately.

House Committee Amendment No. 1
Deletes everything after the enacting clause. Amends the Illinois Savings and Loan Act of 1985 and the Savings Bank Act. Except as otherwise provided by law or with the written consent of the savings and loan association or savings bank, prohibits any person or group of persons from using the name of or a name similar to the name of an existing association or savings bank when marketing to or soliciting business from customers or prospective customers if the name or similar name is used in a manner that would cause a reasonable person to believe that the existing association or savings bank originated, endorsed, or is in any way responsible for the marketing material or solicitation. Authorizes the Secretary of Financial and Professional Regulation to issue cease and desist orders for violation of the provisions. Imposes civil penalties for violation of the provisions and for violation of the cease and desist order. Authorizes the Department of Financial and Professional Regulation to administer the provisions. Makes other changes. Effective immediately.

Actions

Date	Chamber	Action
12/30/2005	House	Filed with the Clerk by Rep. Daniel J. Burke
1/4/2006	House	First Reading
1/4/2006	House	Referred to Rules Committee
1/18/2006	House	Assigned to Financial Institutions Committee
1/24/2006	House	Added Co-Sponsor Rep. Roger Jenisch
1/24/2006	House	House Committee Amendment No. 1 Filed with Clerk by Financial Institutions Committee
1/24/2006	House	House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
1/24/2006	House	Do Pass as Amended / Short Debate Financial Institutions Committee; 027-000-000
1/24/2006	House	Placed on Calendar 2nd Reading - Short Debate
1/25/2006	House	Added Co-Sponsor Rep. Mike Boland
1/25/2006	House	Added Co-Sponsor Rep. Frank J. Mautino
1/25/2006	House	Added Chief Co-Sponsor Rep. Joseph M. Lyons
1/25/2006	House	Added Chief Co-Sponsor Rep. Thomas Holbrook
1/25/2006	House	Chief Co-Sponsor Changed to Rep. Thomas Holbrook
1/25/2006	House	Removed Co-Sponsor Rep. Mike Boland
2/1/2006	House	Second Reading - Short Debate
2/1/2006	House	Placed on Calendar Order of 3rd Reading - Short Debate
2/7/2006	House	Added Chief Co-Sponsor Rep. Mike Boland
2/7/2006	House	Third Reading - Short Debate - Passed 116-000-000
2/8/2006	Senate	Arrive in Senate
2/8/2006	Senate	Placed on Calendar Order of First Reading
2/8/2006	Senate	Chief Senate Sponsor Sen. Jacqueline Y. Collins
2/8/2006	Senate	First Reading
2/8/2006	Senate	Referred to Rules
2/24/2006	Senate	Added as Alternate Chief Co-Sponsor Sen. Dan Rutherford
2/24/2006	Senate	Added as Alternate Chief Co-Sponsor Sen. Christine Radogno
3/15/2006	Senate	Assigned to Financial Institutions
3/24/2006	Senate	Do Pass Financial Institutions; 007-000-000
3/24/2006	Senate	Placed on Calendar Order of 2nd Reading March 27, 2006
3/24/2006	Senate	Added as Alternate Chief Co-Sponsor Sen. Todd Sieben
3/27/2006	Senate	Second Reading
3/27/2006	Senate	Placed on Calendar Order of 3rd Reading March 28, 2006
3/28/2006	Senate	Third Reading - Passed; 055-000-000
3/28/2006	House	Passed Both Houses
4/26/2006	House	Sent to the Governor
6/6/2006	House	Governor Approved
6/6/2006	House	Effective Date June 6, 2006
6/6/2006	House	Public Act . . . . . . . . . 94-0833