HB0633 101ST GENERAL ASSEMBLY

LRB101 03631 SLF 48639 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB0633

Introduced , by Rep. Michael J. Madigan

SYNOPSIS AS INTRODUCED:

720 ILCS 300/1

from Ch. 17, par. 901

Amends the Derogatory Statements About Banks Act. Makes a technical change in a Section concerning violations of the Act.

A BILL FOR

AN ACT concerning criminal law.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Derogatory Statements About Banks Act is amended by changing Section 1 as follows:

(720 ILCS 300/1) (from Ch. 17, par. 901)

Sec. 1. Any person who shall willfully and and maliciously make, circulate, or transmit to another or others, any statements, rumor or suggestion, written, printed or by word of mouth, which is directly or by inference derogatory to the financial condition, with intent to affect the solvency or financial standing of any corporation doing a banking or trust business in this State, or any building and loan association or federal savings and loan association doing business in this State, or who shall counsel, aid, procure or induce another to start, transmit or circulate any such statement, rumor or suggestion, shall be guilty of a Class A misdemeanor: However, the truth of said statement, established by the maker thereof, shall be a complete defense in any prosecution under the provisions of this Act.

(Source: P.A. 77-2830.)