Bill Status of SB2885 100th General Assembly
Short Description: STATE BANK-BOARD
Sen. William E. Brady
(Rep. Natalie A. Manley)
| 1/9/2019||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Banking Act. Provides that a State bank that has been in existence for 10 years or more and has less than $50,000,000 (rather than $20,000,000) in assets may have a minimum of 3 directors. Extends the exemptions from loan and investment limits described in specified provisions of this Act to any department, bureau, board, commission, or establishment of the United States, including any corporation wholly owned by the United States. Provides that the Secretary shall provide information relating to the prior fiscal year upon the request of the State Banking Board.