SB1077 102ND GENERAL ASSEMBLY

LRB102 04894 BMS 14913 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB1077

Introduced 2/25/2021, by Sen. Don Harmon

SYNOPSIS AS INTRODUCED:

205 ILCS 205/2002

from Ch. 17, par. 7302-2

Amends the Savings Bank Act. Makes a technical change in a Section concerning registration of savings bank holding companies.

A BILL FOR

AN ACT concerning regulation.

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

Section 5. The Savings Bank Act is amended by changing Section 2002 as follows:

(205 ILCS 205/2002) (from Ch. 17, par. 7302-2)

Sec. 2002. Each savings bank holding company and and each subsidiary thereof shall register with the Commissioner within 180 days after the effective date of this Act or within 90 days after becoming a savings bank holding company, whichever is later. Each savings bank holding company and each subsidiary thereof shall register on those forms as may be prescribed by the Commissioner which shall include information with respect to the financial conditions, ownership, management, and intercompany relations of the holding company and its subsidiaries and related matters as the Commissioner may deem necessary or appropriate to carry out the purposes of this Act.

(Source: P.A. 86-1213.)