Illinois General Assembly - Full Text of HB5283

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Full Text of HB5283 99th General Assembly

Introduced
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HB5283 99TH GENERAL ASSEMBLY

99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016
HB5283

Introduced , by Rep. Michael J. Madigan

SYNOPSIS AS INTRODUCED:

205 ILCS 685/3   from Ch. 17, par. 7353
    Amends the Currency Reporting Act. Makes a technical change in a Section concerning definitions.

LRB099 17403 SMS 41761 b

A BILL FOR

HB5283 LRB099 17403 SMS 41761 b

1     AN ACT concerning regulation.

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

4     Section 5. The Currency Reporting Act is amended by
5 changing Section 3 as follows:

6     (205 ILCS 685/3)  (from Ch. 17, par. 7353)
7     Sec. 3. As used in this Act, the term:
8     (a) "Currency" means currency and~~and~~ coin of the United
9 States;
10     (b) "Department" means the Department of State Police;
11     (c) "Director" means Director of State Police;
12     (d) "Financial Institution" means any:
13         (1) National or state bank or banking association;
14         (2) Agency or branch of a foreign bank, or
15     international bank;
16         (3) Industrial savings bank;
17         (4) Trust company;
18         (5) Federal or state savings and loan association;
19         (6) Federal or state credit union;
20         (7) Community or ambulatory currency exchange;
21         (8) Issuer, redeemer, or cashier of travelers' checks,
22     money orders, or similar instruments;
23         (9) Operator of a credit card system;

HB5283 - 2 - LRB099 17403 SMS 41761 b

1         (10) Insurance company;
2         (11) Dealer in precious metals, stones, and jewels;
3         (12) Loan or finance company;
4         (13) Pawnbroker;
5         (14) Travel agency;
6         (15) Licensed sender of money;
7         (16) Telegraph company;
8         (17) Business engaged in vehicle or vessel sales,
9     including automobile, airplane and boat sales;
10         (18) Person involved in real estate closings,
11     settlements, sales, or auctions.
12 However, "Financial Institution" does not include an office,
13 department, agency or other entity of State government.
14 (Source: P.A. 87-619.)

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