Bill Status of SB3027  93rd General Assembly

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Short Description:  FIN REG-FEDERALLY INSURED BANK

Senate Sponsors
Sen. Kimberly A. Lightford - Dan Rutherford - Mattie Hunter

House Sponsors
(Rep. Joseph M. Lyons - Bill Mitchell)

Last Action

Date	Chamber	Action
1/11/2005	Senate	Session Sine Die

Statutes Amended In Order of Appearance

205 ILCS 5/2

from Ch. 17, par. 302

205 ILCS 5/5

from Ch. 17, par. 311

Synopsis As Introduced
Amends the Illinois Banking Act. Defines "federally insured depository institution" to mean a bank that is insured by the Federal Deposit Insurance Corporation or other instrumentality of or corporation chartered by the United States that is supported by the full faith and credit of the United States government. Modifies the general corporate powers of banks organized under or subject to the Act. Allows banks to offer any product or service that is at the time authorized or permitted to any federally insured depository institution by applicable law subject to the same limitations and restrictions that are applicable to the federally insured depository institution for the product or service by such applicable law. Effective immediately.

Senate Floor Amendment No. 2
Makes changes in provisions pertaining to a bank's general corporate powers to offer any product or service that is at the time authorized or permitted to any federally insured depository institution by applicable law.

Actions 

Date	Chamber	Action
2/6/2004	Senate	Filed with Secretary by Sen. Kimberly A. Lightford
2/6/2004	Senate	First Reading
2/6/2004	Senate	Referred to Rules
2/10/2004	Senate	Added as Chief Co-Sponsor Sen. Dan Rutherford
2/18/2004	Senate	Assigned to Financial Institutions
2/25/2004	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Kimberly A. Lightford
2/25/2004	Senate	Senate Committee Amendment No. 1 Referred to Rules
2/26/2004	Senate	Do Pass Financial Institutions; 006-003-000
2/26/2004	Senate	Placed on Calendar Order of 2nd Reading March 2, 2004
3/23/2004	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. Kimberly A. Lightford
3/23/2004	Senate	Senate Floor Amendment No. 2 Referred to Rules
3/24/2004	Senate	Senate Floor Amendment No. 2 Rules Refers to Financial Institutions
3/24/2004	Senate	Senate Floor Amendment No. 2 Be Adopted Financial Institutions; 009-000-000
3/24/2004	Senate	Second Reading
3/24/2004	Senate	Senate Floor Amendment No. 2 Adopted; Lightford
3/24/2004	Senate	Placed on Calendar Order of 3rd Reading March 25, 2004
3/26/2004	Senate	Added as Chief Co-Sponsor Sen. Mattie Hunter
3/26/2004	Senate	Third Reading - Passed; 049-004-001
3/26/2004	Senate	Senate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
3/26/2004	House	Arrived in House
3/26/2004	House	Placed on Calendar Order of First Reading
3/26/2004	House	Chief House Sponsor Rep. Joseph M. Lyons
3/29/2004	House	First Reading
3/29/2004	House	Referred to Rules Committee
4/2/2004	House	Added Alternate Chief Co-Sponsor Rep. Bill Mitchell
1/11/2005	Senate	Session Sine Die