SB2418 102ND GENERAL ASSEMBLY

LRB102 04901 BMS 14920 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB2418

Introduced 2/26/2021, by Sen. Napoleon Harris, III

SYNOPSIS AS INTRODUCED:

205 ILCS 610/3

from Ch. 17, par. 1003

Amends the Banking Emergencies Act. Makes a technical change in a Section relating to notice to the Secretary of Financial and Professional Regulation.

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 Banking Emergencies Act is amended by changing Section 3 as follows:

(205 ILCS 610/3) (from Ch. 17, par. 1003)

Sec. 3. Notice to Commissioner and and the Public. A bank closing an office or offices pursuant to the authority granted herein under this Act shall give as prompt notice of its action as conditions will permit and by any means available, to the Commissioner, or in the case of a national bank, to the Comptroller of the Currency. In addition the bank shall post notice of the temporary closing and the authorization for the closing on the main entrance doors of the bank affected.

(Source: P.A. 77-1782.)