Full Text of SB2432 99th General Assembly
SB2432eng 99TH GENERAL ASSEMBLY |
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| 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 Illinois Banking Act is amended by changing | 5 | | Sections 21.1, 21.4, and 48 as follows:
| 6 | | (205 ILCS 5/21.1)
| 7 | | Sec. 21.1. Resulting out-of-state bank Application for | 8 | | certificate of authority .
| 9 | | (a) A On or after June 1, 1997, an out-of-state bank may | 10 | | merge with a State bank may merge with and into an out-of-state | 11 | | bank, provided the out-of-state bank causes notice to be filed | 12 | | with the Secretary after executing and
filing not less than 60 | 13 | | days before the proposed
effective date of
the merger . The | 14 | | out-of-state bank must provide to the Secretary a copy of the | 15 | | approval of the merger by the out-of-state bank's chartering | 16 | | authority. an application therefor with the Commissioner and | 17 | | after also
filing with the Commissioner a copy of its charter, | 18 | | articles of
association or articles of
incorporation, and all | 19 | | amendments thereto, duly authenticated by the proper
officer of | 20 | | the state wherein it
is chartered or incorporated and the last | 21 | | quarterly statement of condition
filed by the out-of-state bank | 22 | | with the appropriate federal banking regulator.
The | 23 | | Commissioner shall specify the form of the application which |
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| 1 | | shall set
forth, to the extent applicable, the same information | 2 | | required in an
application by a foreign corporation pursuant to | 3 | | Section 13.15 of the Business
Corporation Act of 1983.
Subject | 4 | | to Sections 21.2 and 21.3 of this Act, receipt by the | 5 | | Commissioner of
a copy of an application filed with and | 6 | | approved by the out-of-state bank's
chartering authority | 7 | | authorizing the out-of-state bank to merge with a State
bank | 8 | | shall satisfy the filing requirements of this subsection (a).
| 9 | | When the provisions of this Section have been complied | 10 | | with, the
Commissioner shall issue a certificate of authority | 11 | | to merge. If the merger is
not consummated within one year, the | 12 | | Commissioner may cancel the certificate of
authority.
| 13 | | (b) An out-of-state bank that is the resulting bank in a | 14 | | merger with a State
bank may, after the merger, establish and | 15 | | maintain a branch or branches in
Illinois at the locations | 16 | | where the State bank had its main office and branches
| 17 | | immediately before the merger.
| 18 | | (c) An out-of-state bank that establishes and maintains a | 19 | | branch or branches
in Illinois pursuant to subsection (b) of | 20 | | this Section may, after the merger,
establish and maintain | 21 | | additional branches in this State to the same extent as
a State | 22 | | bank.
| 23 | | (d) A branch of an out-of-state bank may not conduct any | 24 | | activity that is
not authorized for a State bank.
| 25 | | (e) (Blank). An out-of-state bank shall provide written | 26 | | notice to the Commissioner of
its intent to establish an |
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| 1 | | additional branch or branches in this State within
30 days | 2 | | after approval of the appropriate federal banking agency to | 3 | | establish
the branch or branches. The notice form
shall be | 4 | | specified by the Commissioner and may include any of the
| 5 | | information required for a similar notice by a State bank.
| 6 | | Receipt by the Commissioner of notice of the out-of-state | 7 | | bank's intent to
establish such additional branch or branches | 8 | | in this State from the
out-of-state bank's chartering authority | 9 | | shall satisfy the requirements of this
subsection (e).
| 10 | | (Source: P.A. 89-208, eff. 9-29-95; 90-665, eff. 7-30-98.)
| 11 | | (205 ILCS 5/21.4) | 12 | | Sec. 21.4. Out-of-state banks establishing branches.
| 13 | | (a) An No out-of-state bank or a and no national bank whose | 14 | | main banking premises is located in a state other than Illinois | 15 | | may shall establish a branch in this State to the same extent | 16 | | and subject to the same requirements, limitations, and | 17 | | conditions that a State bank may be permitted to establish a | 18 | | new branch in this State. , other than a branch authorized | 19 | | pursuant to Section 21.1 of this Act, unless: | 20 | | (1) the laws of the state in which such out-of-state | 21 | | bank or national bank has its main banking premises permit | 22 | | such out-of-state bank or national bank to establish a | 23 | | branch in this State; | 24 | | (2) such out-of-state bank or national bank has its | 25 | | main banking premises in a state that permits a State bank |
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| 1 | | to establish a branch in that state pursuant to terms and | 2 | | conditions that are deemed to be reciprocal with the | 3 | | provisions of this Act; and
| 4 | | (3) such out-of-state bank obtains a certificate of | 5 | | authority from, or provides notice to, the Commissioner as | 6 | | provided in subsection (b) of this Section. | 7 | | (b) (Blank). Before such out-of-state bank may establish a | 8 | | branch in this State, the out-of-state bank must obtain a | 9 | | certificate of authority from the Commissioner. The | 10 | | out-of-state bank must file an application for a certificate of | 11 | | authority on a form prescribed by the Commissioner.
| 12 | | The application for a certificate of authority shall not be | 13 | | required if the state in which the out-of-state bank is | 14 | | chartered permits a state bank to establish a branch in that | 15 | | state without filing an application. An out-of-state bank | 16 | | chartered in such a state may establish a branch in this State | 17 | | pursuant to this Section after providing the Commissioner with | 18 | | written notice. The Commissioner may prescribe the form of such | 19 | | notice and may accept a copy of a notice or application | 20 | | provided by the out-of-state bank to its chartering authority | 21 | | or to its appropriate federal banking agency.
| 22 | | (c) (Blank). The determination of whether the laws of the | 23 | | state in which such out-of-state bank or national bank has its | 24 | | main banking premises are reciprocal with the provisions of | 25 | | this Act shall be made in writing by the Commissioner. The | 26 | | Commissioner shall not make a finding of reciprocity unless the |
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| 1 | | Commissioner determines that the laws of the other state permit | 2 | | a State bank to establish a branch in such other state under | 3 | | terms and conditions that are substantially similar to the | 4 | | provisions of this Section. The Commissioner shall consider, at | 5 | | a minimum, whether the laws of such other state discriminate in | 6 | | any way against a State bank and whether the laws of such other | 7 | | state impose administrative or regulatory burdens that are | 8 | | substantially more restrictive than those imposed by this Act | 9 | | on an out-of-state bank or national bank seeking to establish a | 10 | | branch in this State. | 11 | | (d) (Blank). After such out-of-state bank or national bank | 12 | | lawfully establishes a branch in this State pursuant to the | 13 | | provisions of this Section, such out-of-state bank or national | 14 | | bank may establish and maintain additional branches in this | 15 | | State to the same extent as a State bank. An out-of-state bank | 16 | | shall provide written notice to the Commissioner of its intent | 17 | | to establish an additional branch or branches in this State | 18 | | within 30 days after receiving approval from the appropriate | 19 | | federal banking agency to establish the branch or branches. The | 20 | | form of the notice shall be specified by the Commissioner. | 21 | | (e) A branch of an out-of-state bank may not conduct any | 22 | | activity that is not authorized for a State bank.
| 23 | | (Source: P.A. 93-965, eff. 8-20-04.)
| 24 | | (205 ILCS 5/48)
| 25 | | Sec. 48. Secretary's powers; duties. The Secretary shall |
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| 1 | | have the
powers and authority, and is charged with the duties | 2 | | and responsibilities
designated in this Act, and a State bank | 3 | | shall not be subject to any
other visitorial power other than | 4 | | as authorized by this Act, except those
vested in the courts, | 5 | | or upon prior consultation with the Secretary, a
foreign bank | 6 | | regulator with an appropriate supervisory interest in the | 7 | | parent
or affiliate of a state bank. In the performance of the | 8 | | Secretary's
duties:
| 9 | | (1) The Commissioner shall call for statements from all | 10 | | State banks
as provided in Section 47 at least one time | 11 | | during each calendar quarter.
| 12 | | (2) (a) The Commissioner, as often as the Commissioner | 13 | | shall deem
necessary or
proper, and no less frequently than | 14 | | 18 months following the preceding
examination, shall | 15 | | appoint a suitable person or
persons to make an examination | 16 | | of the affairs of every State bank,
except that for every | 17 | | eligible State bank, as defined by regulation, the
| 18 | | Commissioner in lieu of the examination may accept on an | 19 | | alternating basis the
examination made by the eligible | 20 | | State bank's appropriate federal banking
agency pursuant | 21 | | to Section 111 of the Federal Deposit Insurance Corporation
| 22 | | Improvement Act of 1991, provided the appropriate federal | 23 | | banking agency has
made such an examination. A person so | 24 | | appointed shall not be a stockholder or
officer or employee | 25 | | of
any bank which that person may be directed to examine, | 26 | | and shall have
powers to make a thorough examination into |
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| 1 | | all the affairs of the bank and
in so doing to examine any | 2 | | of the officers or agents or employees thereof
on oath and | 3 | | shall make a full and detailed report of the condition of | 4 | | the
bank to the Commissioner. In making the examination the | 5 | | examiners shall
include an examination of the affairs of | 6 | | all the affiliates of the bank, as
defined in subsection | 7 | | (b) of Section 35.2 of this Act, or subsidiaries of the
| 8 | | bank as shall be
necessary to disclose fully the conditions | 9 | | of the subsidiaries or
affiliates, the relations
between | 10 | | the bank and the subsidiaries or affiliates and the effect | 11 | | of those
relations upon
the affairs of the bank, and in | 12 | | connection therewith shall have power to
examine any of the | 13 | | officers, directors, agents, or employees of the
| 14 | | subsidiaries or affiliates
on oath. After May 31, 1997, the | 15 | | Commissioner may enter into cooperative
agreements
with | 16 | | state regulatory authorities of other states to provide for | 17 | | examination of
State bank branches in those states, and the | 18 | | Commissioner may accept reports
of examinations of State | 19 | | bank branches from those state regulatory authorities.
| 20 | | These cooperative agreements may set forth the manner in | 21 | | which the other state
regulatory authorities may be | 22 | | compensated for examinations prepared for and
submitted to | 23 | | the Commissioner.
| 24 | | (b) After May 31, 1997, the Commissioner is authorized | 25 | | to examine, as often
as the Commissioner shall deem | 26 | | necessary or proper, branches of out-of-state
banks. The |
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| 1 | | Commissioner may establish and may assess fees to be paid | 2 | | to the
Commissioner for examinations under this subsection | 3 | | (b). The fees shall be
borne by the out-of-state bank, | 4 | | unless the fees are borne by the state
regulatory authority | 5 | | that chartered the out-of-state bank, as determined by a
| 6 | | cooperative agreement between the Commissioner and the | 7 | | state regulatory
authority that chartered the out-of-state | 8 | | bank.
| 9 | | (2.1) Pursuant to paragraph (a) of subsection (6) of | 10 | | this Section, the Secretary shall adopt rules that ensure | 11 | | consistency and due process in the examination process. The | 12 | | Secretary may also establish guidelines that (i) define the | 13 | | scope of the examination process and (ii) clarify | 14 | | examination items to be resolved. The rules, formal | 15 | | guidance, interpretive letters, or opinions furnished to | 16 | | State banks by the Secretary may be relied upon by the | 17 | | State banks. | 18 | | (2.5) Whenever any State bank, any subsidiary or | 19 | | affiliate of a State
bank, or after May 31, 1997, any | 20 | | branch of an out-of-state bank causes to
be performed, by | 21 | | contract or otherwise, any bank services
for itself, | 22 | | whether on or off its premises:
| 23 | | (a) that performance shall be subject to | 24 | | examination by the Commissioner
to the same extent as | 25 | | if services were being performed by the bank or, after
| 26 | | May 31, 1997, branch of the out-of-state bank itself
on |
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| 1 | | its own premises; and
| 2 | | (b) the bank or, after May 31, 1997, branch of the | 3 | | out-of-state bank
shall notify the Commissioner of the | 4 | | existence of a service
relationship. The notification | 5 | | shall be submitted with the first statement
of | 6 | | condition (as required by Section 47 of this Act) due | 7 | | after the making
of the service contract or the | 8 | | performance of the service, whichever occurs
first. | 9 | | The Commissioner shall be notified of each subsequent | 10 | | contract in
the same manner.
| 11 | | For purposes of this subsection (2.5), the term "bank | 12 | | services" means
services such as sorting and posting of | 13 | | checks and deposits, computation
and posting of interest | 14 | | and other credits and charges, preparation and
mailing of | 15 | | checks, statements, notices, and similar items, or any | 16 | | other
clerical, bookkeeping, accounting, statistical, or | 17 | | similar functions
performed for a State bank, including but | 18 | | not limited to electronic data
processing related to those | 19 | | bank services.
| 20 | | (3) The expense of administering this Act, including | 21 | | the expense of
the examinations of State banks as provided | 22 | | in this Act, shall to the extent
of the amounts resulting | 23 | | from the fees provided for in Section 48.05 of this Act and | 24 | | paragraphs (a),
(a-1), (a-2), (a-3), and (b) of this | 25 | | subsection (3) be assessed against and borne by the
State | 26 | | banks:
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| 1 | | (a) Each bank shall pay to the Secretary a Call | 2 | | Report Fee which
shall be paid in quarterly | 3 | | installments equal
to one-fourth of the sum of the | 4 | | annual fixed fee of $800, plus a variable
fee based on | 5 | | the assets shown on the quarterly statement of | 6 | | condition
delivered to the Secretary in accordance | 7 | | with Section 47 for the
preceding quarter according to | 8 | | the following schedule: 16˘ per $1,000 of
the first | 9 | | $5,000,000 of total assets, 15˘ per $1,000 of the next
| 10 | | $20,000,000 of total assets, 13˘ per $1,000 of the next | 11 | | $75,000,000 of
total assets, 9˘ per $1,000 of the next | 12 | | $400,000,000 of total assets, 7˘
per $1,000 of the next | 13 | | $500,000,000 of total assets, and 5˘ per $1,000 of
all | 14 | | assets in excess of $1,000,000,000, of the State bank. | 15 | | The Call Report
Fee shall be calculated by the | 16 | | Secretary and billed to the banks for
remittance at the | 17 | | time of the quarterly statements of condition
provided | 18 | | for in Section 47. The Secretary may require payment of | 19 | | the fees
provided in this Section by an electronic | 20 | | transfer of funds or an automatic
debit of an account | 21 | | of each of the State banks. In case more than one
| 22 | | examination of any
bank is deemed by the Secretary to | 23 | | be necessary in any examination
frequency cycle | 24 | | specified in subsection 2(a) of this Section,
and is | 25 | | performed at his direction, the Secretary may
assess a | 26 | | reasonable additional fee to recover the cost of the |
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| 1 | | additional
examination; provided, however, that an | 2 | | examination conducted at the request
of the State | 3 | | Treasurer pursuant to the Uniform Disposition of | 4 | | Unclaimed
Property Act shall not be deemed to be an | 5 | | additional examination under this
Section.
In lieu
of | 6 | | the method and amounts set forth in this paragraph (a) | 7 | | for the calculation
of the Call Report Fee, the | 8 | | Secretary may specify by
rule that the Call Report Fees | 9 | | provided by this Section may be assessed
semiannually | 10 | | or some other period and may provide in the rule the | 11 | | formula to
be
used for calculating and assessing the | 12 | | periodic Call Report Fees to be paid by
State
banks.
| 13 | | (a-1) If in the opinion of the Commissioner an | 14 | | emergency exists or
appears likely, the Commissioner | 15 | | may assign an examiner or examiners to
monitor the | 16 | | affairs of a State bank with whatever frequency he | 17 | | deems
appropriate, including but not limited to a daily | 18 | | basis. The reasonable
and necessary expenses of the | 19 | | Commissioner during the period of the monitoring
shall | 20 | | be borne by the subject bank. The Commissioner shall | 21 | | furnish the
State bank a statement of time and expenses | 22 | | if requested to do so within 30
days of the conclusion | 23 | | of the monitoring period.
| 24 | | (a-2) On and after January 1, 1990, the reasonable | 25 | | and necessary
expenses of the Commissioner during | 26 | | examination of the performance of
electronic data |
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| 1 | | processing services under subsection (2.5) shall be
| 2 | | borne by the banks for which the services are provided. | 3 | | An amount, based
upon a fee structure prescribed by the | 4 | | Commissioner, shall be paid by the
banks or, after May | 5 | | 31, 1997, branches of out-of-state banks receiving the
| 6 | | electronic data processing services along with the
| 7 | | Call Report Fee assessed under paragraph (a) of this
| 8 | | subsection (3).
| 9 | | (a-3) After May 31, 1997, the reasonable and | 10 | | necessary expenses of the
Commissioner during | 11 | | examination of the performance of electronic data
| 12 | | processing services under subsection (2.5) at or on | 13 | | behalf of branches of
out-of-state banks shall be borne | 14 | | by the out-of-state banks, unless those
expenses are | 15 | | borne by the state regulatory authorities that | 16 | | chartered the
out-of-state banks, as determined by | 17 | | cooperative agreements between the
Commissioner and | 18 | | the state regulatory authorities that chartered the
| 19 | | out-of-state banks.
| 20 | | (b) "Fiscal year" for purposes of this Section 48 | 21 | | is defined as a
period beginning July 1 of any year and | 22 | | ending June 30 of the next year.
The Commissioner shall | 23 | | receive for each fiscal year, commencing with the
| 24 | | fiscal year ending June 30, 1987, a contingent fee | 25 | | equal to the lesser of
the aggregate of the fees paid | 26 | | by all State banks under paragraph (a) of
subsection |
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| 1 | | (3) for that year, or the amount, if any, whereby the | 2 | | aggregate
of the administration expenses, as defined | 3 | | in paragraph (c), for that
fiscal year exceeds the sum | 4 | | of the aggregate of the fees payable by all
State banks | 5 | | for that year under paragraph (a) of subsection (3),
| 6 | | plus any amounts transferred into the Bank and Trust | 7 | | Company Fund from the
State Pensions Fund for that | 8 | | year,
plus all
other amounts collected by the | 9 | | Commissioner for that year under any
other provision of | 10 | | this Act, plus the aggregate of all fees
collected for | 11 | | that year by the Commissioner under the Corporate | 12 | | Fiduciary
Act, excluding the receivership fees | 13 | | provided for in Section 5-10 of the
Corporate Fiduciary | 14 | | Act, and the Foreign Banking Office Act.
The aggregate | 15 | | amount of the contingent
fee thus arrived at for any | 16 | | fiscal year shall be apportioned amongst,
assessed | 17 | | upon, and paid by the State banks and foreign banking | 18 | | corporations,
respectively, in the same proportion
| 19 | | that the fee of each under paragraph (a) of subsection | 20 | | (3), respectively,
for that year bears to the aggregate | 21 | | for that year of the fees collected
under paragraph (a) | 22 | | of subsection (3). The aggregate amount of the
| 23 | | contingent fee, and the portion thereof to be assessed | 24 | | upon each State
bank and foreign banking corporation,
| 25 | | respectively, shall be determined by the Commissioner | 26 | | and shall be paid by
each, respectively, within 120 |
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| 1 | | days of the close of the period for which
the | 2 | | contingent fee is computed and is payable, and the | 3 | | Commissioner shall
give 20 days advance notice of the | 4 | | amount of the contingent fee payable by
the State bank | 5 | | and of the date fixed by the Commissioner for payment | 6 | | of
the fee.
| 7 | | (c) The "administration expenses" for any fiscal | 8 | | year shall mean the
ordinary and contingent expenses | 9 | | for that year incident to making the
examinations | 10 | | provided for by, and for otherwise administering, this | 11 | | Act,
the Corporate Fiduciary Act, excluding the | 12 | | expenses paid from the
Corporate Fiduciary | 13 | | Receivership account in the Bank and Trust Company
| 14 | | Fund, the Foreign Banking Office Act,
the Electronic | 15 | | Fund Transfer Act,
and the Illinois Bank Examiners'
| 16 | | Education Foundation Act, including all salaries and | 17 | | other
compensation paid for personal services rendered | 18 | | for the State by
officers or employees of the State, | 19 | | including the Commissioner and the
Deputy | 20 | | Commissioners, communication equipment and services, | 21 | | office furnishings, surety bond
premiums, and travel | 22 | | expenses of those officers and employees, employees,
| 23 | | expenditures or charges for the acquisition, | 24 | | enlargement or improvement
of, or for the use of, any | 25 | | office space, building, or structure, or
expenditures | 26 | | for the maintenance thereof or for furnishing heat, |
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| 1 | | light,
or power with respect thereto, all to the extent | 2 | | that those expenditures
are directly incidental to | 3 | | such examinations or administration.
The Commissioner | 4 | | shall not be required by paragraphs (c) or (d-1) of | 5 | | this
subsection (3) to maintain in any fiscal year's | 6 | | budget appropriated reserves
for accrued vacation and | 7 | | accrued sick leave that is required to be paid to
| 8 | | employees of the Commissioner upon termination of | 9 | | their service with the
Commissioner in an amount that | 10 | | is more than is reasonably anticipated to be
necessary | 11 | | for any anticipated turnover in employees, whether due | 12 | | to normal
attrition or due to layoffs, terminations, or | 13 | | resignations.
| 14 | | (d) The aggregate of all fees collected by the | 15 | | Secretary under
this Act, the Corporate Fiduciary Act,
| 16 | | or the Foreign Banking Office Act on
and after July 1, | 17 | | 1979, shall be paid promptly after receipt of the same,
| 18 | | accompanied by a detailed statement thereof, into the | 19 | | State treasury and
shall be set apart in a special fund | 20 | | to be known as the "Bank and Trust
Company Fund", | 21 | | except as provided in paragraph (c) of subsection (11) | 22 | | of
this Section. All earnings received from | 23 | | investments of funds in the Bank
and
Trust Company Fund | 24 | | shall be deposited in the Bank and Trust Company Fund
| 25 | | and may be used for the same purposes as fees deposited | 26 | | in that Fund. The
amount from time to time deposited |
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| 1 | | into the Bank and
Trust Company Fund shall be used: (i) | 2 | | to offset the ordinary administrative
expenses of the | 3 | | Secretary as defined in
this Section or (ii) as a | 4 | | credit against fees under paragraph (d-1) of this | 5 | | subsection (3). Nothing in this amendatory Act of 1979 | 6 | | shall prevent
continuing the practice of paying | 7 | | expenses involving salaries, retirement,
social | 8 | | security, and State-paid insurance premiums of State | 9 | | officers by
appropriations from the General Revenue | 10 | | Fund. However, the General Revenue
Fund shall be | 11 | | reimbursed for those payments made on and after July 1, | 12 | | 1979,
by an annual transfer of funds from the Bank and | 13 | | Trust Company Fund. Moneys in the Bank and Trust | 14 | | Company Fund may be transferred to the Professions | 15 | | Indirect Cost Fund, as authorized under Section | 16 | | 2105-300 of the Department of Professional Regulation | 17 | | Law of the Civil Administrative Code of Illinois.
| 18 | | Notwithstanding provisions in the State Finance | 19 | | Act, as now or hereafter amended, or any other law to | 20 | | the contrary, the sum of $18,788,847 shall be | 21 | | transferred from the Bank and Trust Company Fund to the | 22 | | Financial Institutions Settlement of 2008 Fund on the | 23 | | effective date of this amendatory Act of the 95th | 24 | | General Assembly, or as soon thereafter as practical. | 25 | | Notwithstanding provisions in the State Finance | 26 | | Act, as now or hereafter amended, or any other law to |
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| 1 | | the contrary, the Governor may, during any fiscal year | 2 | | through January 10, 2011, from time to time direct the | 3 | | State Treasurer and Comptroller to transfer a | 4 | | specified sum not exceeding 10% of the revenues to be | 5 | | deposited into the Bank and Trust Company Fund during | 6 | | that fiscal year from that Fund to the General Revenue | 7 | | Fund in order to help defray the State's operating | 8 | | costs for the fiscal year. Notwithstanding provisions | 9 | | in the State Finance Act, as now or hereafter amended, | 10 | | or any other law to the contrary, the total sum | 11 | | transferred during any fiscal year through January 10, | 12 | | 2011, from the Bank and Trust Company Fund to the | 13 | | General Revenue Fund pursuant to this provision shall | 14 | | not exceed during any fiscal year 10% of the revenues | 15 | | to be deposited into the Bank and Trust Company Fund | 16 | | during that fiscal year. The State Treasurer and | 17 | | Comptroller shall transfer the amounts designated | 18 | | under this Section as soon as may be practicable after | 19 | | receiving the direction to transfer from the Governor.
| 20 | | (d-1) Adequate funds shall be available in the Bank | 21 | | and Trust
Company Fund to permit the timely payment of | 22 | | administration expenses. In
each fiscal year the total | 23 | | administration expenses shall be deducted from
the | 24 | | total fees collected by the Commissioner and the | 25 | | remainder transferred
into the Cash Flow Reserve | 26 | | Account, unless the balance of the Cash Flow
Reserve |
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| 1 | | Account prior to the transfer equals or exceeds
| 2 | | one-fourth of the total initial appropriations from | 3 | | the Bank and Trust
Company Fund for the subsequent | 4 | | year, in which case the remainder shall be
credited to | 5 | | State banks and foreign banking corporations
and | 6 | | applied against their fees for the subsequent
year. The | 7 | | amount credited to each State bank and foreign banking | 8 | | corporation
shall be in the same proportion as the
Call | 9 | | Report Fees paid by each for the year bear to the total | 10 | | Call Report
Fees collected for the year. If, after a | 11 | | transfer to the Cash Flow Reserve
Account is made or if | 12 | | no remainder is available for transfer, the balance
of | 13 | | the Cash Flow Reserve Account is less than one-fourth | 14 | | of the total
initial appropriations for the subsequent | 15 | | year and the amount transferred
is less than 5% of the | 16 | | total Call Report Fees for the year, additional
amounts | 17 | | needed to make the transfer equal to 5% of the total | 18 | | Call Report
Fees for the year shall be apportioned | 19 | | amongst, assessed upon, and
paid by the State banks and | 20 | | foreign banking corporations
in the same proportion | 21 | | that the Call Report Fees of each,
respectively, for | 22 | | the year bear to the total Call Report Fees collected | 23 | | for
the year. The additional amounts assessed shall be | 24 | | transferred into the
Cash Flow Reserve Account. For | 25 | | purposes of this paragraph (d-1), the
calculation of | 26 | | the fees collected by the Commissioner shall exclude |
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| 1 | | the
receivership fees provided for in Section 5-10 of | 2 | | the Corporate Fiduciary Act.
| 3 | | (e) The Commissioner may upon request certify to | 4 | | any public record
in his keeping and shall have | 5 | | authority to levy a reasonable charge for
issuing | 6 | | certifications of any public record in his keeping.
| 7 | | (f) In addition to fees authorized elsewhere in | 8 | | this Act, the
Commissioner
may, in connection with a | 9 | | review, approval, or provision of a service, levy a
| 10 | | reasonable charge to recover the cost of the review, | 11 | | approval, or service.
| 12 | | (4) Nothing contained in this Act shall be construed to | 13 | | limit the
obligation relative to examinations and reports | 14 | | of any State bank, deposits
in which are to any extent | 15 | | insured by the United States or any agency
thereof, nor to | 16 | | limit in any way the powers of the Commissioner with
| 17 | | reference to examinations and reports of that bank.
| 18 | | (5) The nature and condition of the assets in or | 19 | | investment of any
bonus, pension, or profit sharing plan | 20 | | for officers or employees of every
State bank or, after May | 21 | | 31, 1997, branch of an out-of-state bank shall be
deemed to | 22 | | be included in the affairs of that State
bank or branch of | 23 | | an out-of-state bank subject to examination by the
| 24 | | Commissioner under the
provisions of subsection (2) of this | 25 | | Section, and if the Commissioner
shall find from an | 26 | | examination that the condition of or operation
of the |
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| 1 | | investments or assets of the plan is unlawful, fraudulent, | 2 | | or
unsafe, or that any trustee has abused his trust, the | 3 | | Commissioner
shall, if the situation so found by the | 4 | | Commissioner shall not be
corrected to his satisfaction | 5 | | within 60 days after the Commissioner has
given notice to | 6 | | the board of directors of the State bank or out-of-state
| 7 | | bank of his
findings, report the facts to the Attorney | 8 | | General who shall thereupon
institute proceedings against | 9 | | the State bank or out-of-state bank, the
board of directors
| 10 | | thereof, or the trustees under such plan as the nature of | 11 | | the case may require.
| 12 | | (6) The Commissioner shall have the power:
| 13 | | (a) To promulgate reasonable rules for the purpose | 14 | | of
administering the provisions of this Act.
| 15 | | (a-5) To impose conditions on any approval issued | 16 | | by the Commissioner
if he determines that the | 17 | | conditions are necessary or appropriate. These
| 18 | | conditions shall be imposed in writing and shall | 19 | | continue
in effect for the period prescribed by the | 20 | | Commissioner.
| 21 | | (b) To issue orders
against any person, if the | 22 | | Commissioner has
reasonable cause to believe that an | 23 | | unsafe or unsound banking practice
has occurred, is | 24 | | occurring, or is about to occur, if any person has | 25 | | violated,
is violating, or is about to violate any law, | 26 | | rule, or written
agreement with the Commissioner, or
|
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| 1 | | for the purpose of administering the provisions of
this | 2 | | Act and any rule promulgated in accordance with this | 3 | | Act.
| 4 | | (b-1) To enter into agreements with a bank | 5 | | establishing a program to
correct the condition of the | 6 | | bank or its practices.
| 7 | | (c) To appoint hearing officers to execute any of | 8 | | the powers granted to
the Commissioner under this | 9 | | Section for the purpose of administering this
Act and | 10 | | any rule promulgated in accordance with this Act
and | 11 | | otherwise to authorize, in writing, an officer or | 12 | | employee of the Office
of
Banks and Real Estate to | 13 | | exercise his powers under this Act.
| 14 | | (d) To subpoena witnesses, to compel their | 15 | | attendance, to administer
an oath, to examine any | 16 | | person under oath, and to require the production of
any | 17 | | relevant books, papers, accounts, and documents in the | 18 | | course of and
pursuant to any investigation being | 19 | | conducted, or any action being taken,
by the | 20 | | Commissioner in respect of any matter relating to the | 21 | | duties imposed
upon, or the powers vested in, the | 22 | | Commissioner under the provisions of
this Act or any | 23 | | rule promulgated in accordance with this Act.
| 24 | | (e) To conduct hearings.
| 25 | | (7) Whenever, in the opinion of the Secretary, any | 26 | | director,
officer, employee, or agent of a State bank
or |
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| 1 | | any subsidiary or bank holding company of the bank
or, | 2 | | after May 31, 1997, of any
branch of an out-of-state bank
| 3 | | or any subsidiary or bank holding company of the bank
shall | 4 | | have violated any law,
rule, or order relating to that bank
| 5 | | or any subsidiary or bank holding company of the bank, | 6 | | shall have
obstructed or impeded any examination or | 7 | | investigation by the Secretary, shall have engaged in an | 8 | | unsafe or
unsound practice in conducting the business of | 9 | | that bank
or any subsidiary or bank holding company of the | 10 | | bank,
or shall have
violated any law or engaged or | 11 | | participated in any unsafe or unsound practice
in | 12 | | connection with any financial institution or other | 13 | | business entity such that
the character and fitness of the | 14 | | director, officer, employee, or agent does not
assure | 15 | | reasonable promise of safe and sound operation of the State | 16 | | bank, the
Secretary
may issue an order of removal.
If, in | 17 | | the opinion of the Secretary, any former director, officer,
| 18 | | employee,
or agent of a State bank
or any subsidiary or | 19 | | bank holding company of the bank, prior to the
termination | 20 | | of his or her service with
that bank
or any subsidiary or | 21 | | bank holding company of the bank, violated any law,
rule, | 22 | | or order relating to that
State bank
or any subsidiary or | 23 | | bank holding company of the bank, obstructed or impeded
any | 24 | | examination or investigation by the Secretary, engaged in | 25 | | an unsafe or unsound practice in conducting the
business of | 26 | | that bank
or any subsidiary or bank holding company of the |
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| 1 | | bank,
or violated any law or engaged or participated in any
| 2 | | unsafe or unsound practice in connection with any financial | 3 | | institution or
other business entity such that the | 4 | | character and fitness of the director,
officer, employee, | 5 | | or agent would not have assured reasonable promise of safe
| 6 | | and sound operation of the State bank, the Secretary may | 7 | | issue an order
prohibiting that person from
further
service | 8 | | with a bank
or any subsidiary or bank holding company of | 9 | | the bank
as a director, officer, employee, or agent. An | 10 | | order
issued pursuant to this subsection shall be served | 11 | | upon the
director,
officer, employee, or agent. A copy of | 12 | | the order shall be sent to each
director of the bank | 13 | | affected by registered mail. A copy of
the order shall also | 14 | | be served upon the bank of which he is a director,
officer, | 15 | | employee, or agent, whereupon he shall cease to be a | 16 | | director,
officer, employee, or agent of that bank. The | 17 | | Secretary may
institute a civil action against the | 18 | | director, officer, or agent of the
State bank or, after May | 19 | | 31, 1997, of the branch of the out-of-state bank
against | 20 | | whom any order provided for by this subsection (7) of
this | 21 | | Section 48 has been issued, and against the State bank or, | 22 | | after May 31,
1997, out-of-state bank, to enforce
| 23 | | compliance with or to enjoin any violation of the terms of | 24 | | the order.
Any person who has been the subject of an order | 25 | | of removal
or
an order of prohibition issued by the | 26 | | Secretary under
this subsection or Section 5-6 of the |
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| 1 | | Corporate Fiduciary Act may not
thereafter serve as | 2 | | director, officer, employee, or agent of any State bank
or | 3 | | of any branch of any out-of-state bank,
or of any corporate | 4 | | fiduciary, as defined in Section 1-5.05 of the
Corporate
| 5 | | Fiduciary Act, or of any other entity that is subject to | 6 | | licensure or
regulation by the Division of Banking unless
| 7 | | the Secretary has granted prior approval in writing.
| 8 | | For purposes of this paragraph (7), "bank holding | 9 | | company" has the
meaning prescribed in Section 2 of the | 10 | | Illinois Bank Holding Company Act of
1957.
| 11 | | (8) The Commissioner may impose civil penalties of up | 12 | | to $100,000 against
any person for each violation of any | 13 | | provision of this Act, any rule
promulgated in accordance | 14 | | with this Act, any order of the Commissioner, or
any other | 15 | | action which in the Commissioner's discretion is an unsafe | 16 | | or
unsound banking practice.
| 17 | | (9) The Commissioner may impose civil penalties of up | 18 | | to $100
against any person for the first failure to comply | 19 | | with reporting
requirements set forth in the report of | 20 | | examination of the bank and up to
$200 for the second and | 21 | | subsequent failures to comply with those reporting
| 22 | | requirements.
| 23 | | (10) All final administrative decisions of the | 24 | | Commissioner hereunder
shall be subject to judicial review | 25 | | pursuant to the provisions of the
Administrative Review | 26 | | Law. For matters involving administrative review,
venue |
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| 1 | | shall be in either Sangamon County or Cook County.
| 2 | | (11) The endowment fund for the Illinois Bank | 3 | | Examiners' Education
Foundation shall be administered as | 4 | | follows:
| 5 | | (a) (Blank).
| 6 | | (b) The Foundation is empowered to receive | 7 | | voluntary contributions,
gifts, grants, bequests, and | 8 | | donations on behalf of the Illinois Bank
Examiners' | 9 | | Education Foundation from national banks and other | 10 | | persons for
the purpose of funding the endowment of the | 11 | | Illinois Bank Examiners'
Education Foundation.
| 12 | | (c) The aggregate of all special educational fees | 13 | | collected by the
Secretary and property received by the | 14 | | Secretary on behalf of the
Illinois Bank Examiners' | 15 | | Education Foundation under this subsection
(11) on or | 16 | | after June 30, 1986, shall be either (i) promptly paid | 17 | | after
receipt of the same, accompanied by a detailed | 18 | | statement thereof, into the
State Treasury and shall be | 19 | | set apart in a special fund to be known as "The
| 20 | | Illinois Bank Examiners' Education Fund" to be | 21 | | invested by either the
Treasurer of the State of | 22 | | Illinois in the Public Treasurers' Investment
Pool or | 23 | | in any other investment he is authorized to make or by | 24 | | the Illinois
State Board of Investment as the State | 25 | | Banking Board of Illinois may direct or (ii) deposited | 26 | | into an account
maintained in a commercial bank or |
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| 1 | | corporate fiduciary in the name of the
Illinois Bank | 2 | | Examiners' Education Foundation pursuant to the order | 3 | | and
direction of the Board of Trustees of the Illinois | 4 | | Bank Examiners' Education
Foundation.
| 5 | | (12) (Blank).
| 6 | | (13) The Secretary may borrow funds from the General | 7 | | Revenue Fund on behalf of the Bank and Trust Company Fund | 8 | | if the Director of Banking certifies to the Governor that | 9 | | there is an economic emergency affecting banking that | 10 | | requires a borrowing to provide additional funds to the | 11 | | Bank and Trust Company Fund. The borrowed funds shall be | 12 | | paid back within 3 years and shall not exceed the total | 13 | | funding appropriated to the Agency in the previous year. | 14 | | (14) In addition to the fees authorized in this Act, | 15 | | the Secretary may assess reasonable receivership fees | 16 | | against any State bank that does not maintain insurance | 17 | | with the Federal Deposit Insurance Corporation. All fees | 18 | | collected under this subsection (14) shall be paid into the | 19 | | Non-insured Institutions Receivership account in the Bank | 20 | | and Trust Company Fund, as established by the Secretary. | 21 | | The fees assessed under this subsection (14) shall provide | 22 | | for the expenses that arise from the administration of the | 23 | | receivership of any such institution required to pay into | 24 | | the Non-insured Institutions Receivership account, whether | 25 | | pursuant to this Act, the Corporate Fiduciary Act, the | 26 | | Foreign Banking Office Act, or any other Act that requires |
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| 1 | | payments into the Non-insured Institutions Receivership | 2 | | account. The Secretary may establish by rule a reasonable | 3 | | manner of assessing fees under this subsection (14). | 4 | | (Source: P.A. 98-784, eff. 7-24-14; 99-39, eff. 1-1-16 .)
| 5 | | Section 10. The Savings Bank Act is amended by changing | 6 | | Sections 1006, 1006.05, 9002.1, 9002.5, 9004, 9009, 9013, and | 7 | | 9018 as follows:
| 8 | | (205 ILCS 205/1006) (from Ch. 17, par. 7301-6)
| 9 | | Sec. 1006. Parity.
| 10 | | (a) Subject to the regulation of the Secretary Commissioner | 11 | | and in addition to the
powers granted by this Act, each savings | 12 | | bank operating under this Act shall
possess those powers | 13 | | granted by regulation promulgated under the Federal
Deposit | 14 | | Insurance Act for state savings banks.
| 15 | | (b) Subject to Section 1006.10 of this Act and to the | 16 | | regulation of the Secretary, a A savings bank may establish or | 17 | | acquire branch offices at any location in Illinois or in any | 18 | | other state, territory, or jurisdiction of the United States or | 19 | | any foreign country upon notice to the Secretary and upon | 20 | | meeting the requirements of federal law and the applicable law | 21 | | of any other state, territory, or jurisdiction of the United | 22 | | States or any foreign country. branches or offices at which | 23 | | savings or
investments are regularly received or loans approved | 24 | | as follows:
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| 1 | | (1) to the extent branch powers and offices are granted
| 2 | | to State banks under the Illinois Banking Act;
| 3 | | (2) within the geographic area defined in Article 2 of | 4 | | this Act
and subject to the provisions of Article 2 of this | 5 | | Act;
| 6 | | (3) within the same geographic areas or states as those | 7 | | states from
which a holding company is permitted to acquire | 8 | | an Illinois savings bank or
an Illinois savings bank | 9 | | holding company;
| 10 | | (4) to the same extent that holding companies and | 11 | | savings and loan
associations headquartered outside the | 12 | | State of Illinois are allowed to
operate in Illinois by | 13 | | virtue of Articles 1A and 2B of the Illinois Savings
and | 14 | | Loan Act of 1985;
| 15 | | (5) as the result of mergers, consolidations, or bulk | 16 | | sales of
facilities in the case of relocations; and
| 17 | | (6) to the extent an out-of-state savings bank has its | 18 | | main banking premises in a state that is reciprocal with | 19 | | Illinois and would be eligible to establish a branch | 20 | | pursuant to Section 1006.05 of this Act.
| 21 | | (c) (Blank). The Commissioner may adopt regulations that | 22 | | provide for the
establishment of branches as defined by the | 23 | | Commissioner.
| 24 | | (d) (Blank). Notwithstanding any other provision of this | 25 | | Act, a savings bank that
purchases or assumes all or any part | 26 | | of the assets or liabilities of a bank,
savings bank, or |
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| 1 | | savings and loan association or merges or consolidates with a
| 2 | | bank, savings bank, or savings and loan association may retain | 3 | | and maintain the
main premises or branches of the former bank, | 4 | | savings bank, or savings and loan
association as branches of | 5 | | the purchasing, merging, or consolidating savings
bank, | 6 | | provided it assumes the deposit liabilities of the bank, | 7 | | savings bank, or
savings and loan association maintained at the | 8 | | main premises or branches.
| 9 | | (e) A savings bank has any power reasonably incident,
| 10 | | convenient, or useful
to
the accomplishment of the powers | 11 | | conferred upon
the savings bank by this Act.
| 12 | | (Source: P.A. 93-965, eff. 8-20-04.)
| 13 | | (205 ILCS 205/1006.05)
| 14 | | Sec. 1006.05. Out-of-state savings banks establishing | 15 | | branches. | 16 | | An (a) No out-of-state savings bank whose main banking | 17 | | premises are is located in a state other than Illinois may | 18 | | shall establish a branch in this State to the same extent and | 19 | | subject to the same requirements, limitations, and conditions | 20 | | that a savings bank may be permitted to establish a new branch | 21 | | in this State. , other than a branch authorized pursuant to any | 22 | | other provision of this Act, unless: | 23 | | (1) the laws of the state in which such out-of-state | 24 | | savings bank has its main banking premises permit the | 25 | | out-of-state savings bank to establish a branch in this |
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| 1 | | State; | 2 | | (2) the out-of-state savings bank has its main banking | 3 | | premises in a state that permits an Illinois State savings | 4 | | bank to establish a branch in that state pursuant to terms | 5 | | and conditions that are deemed to be reciprocal with the | 6 | | provisions of this Act; and | 7 | | (3) the out-of-state savings bank obtains a | 8 | | certificate of authority from, or provides notice to, the | 9 | | Commissioner as provided in subsection (b) of this Section. | 10 | | (b) Before the out-of-state savings bank may establish a | 11 | | branch in this State, the out-of-state savings bank must obtain | 12 | | a certificate of authority from the Commissioner. The | 13 | | out-of-state savings bank must file an application for a | 14 | | certificate of authority on a form prescribed by the | 15 | | Commissioner. | 16 | | The application for a certificate of authority shall not be | 17 | | required if the state in which the out-of-state savings bank is | 18 | | chartered permits an Illinois State savings bank to establish a | 19 | | branch in that state without filing an application. An | 20 | | out-of-state savings bank chartered in such a state may | 21 | | establish a branch in this State pursuant to this Section after | 22 | | providing the Commissioner with written notice. The | 23 | | Commissioner may prescribe the form of such notice and may | 24 | | accept a copy of a notice or application provided by the | 25 | | out-of-state savings bank to its chartering authority. | 26 | | (c) The determination of whether the laws of the state in |
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| 1 | | which the out-of-state savings bank has its main banking | 2 | | premises are reciprocal with the provisions of this Act shall | 3 | | be made in writing by the Commissioner. The Commissioner shall | 4 | | not make a finding of reciprocity unless the Commissioner | 5 | | determines that the laws of the other state permit an Illinois | 6 | | State savings bank to establish a branch in the other state | 7 | | under terms and conditions that are substantially similar to | 8 | | the provisions of this Section. The Commissioner shall | 9 | | consider, at a minimum, whether the laws of the other state | 10 | | discriminate in any way against an Illinois State savings bank | 11 | | and whether the laws of the other state impose administrative | 12 | | or regulatory burdens that are substantially more restrictive | 13 | | than those imposed by this Act on an out-of-state savings bank | 14 | | seeking to establish a branch in this State. | 15 | | (d) After the out-of-state savings bank lawfully | 16 | | establishes a branch in this State pursuant to the provisions | 17 | | of this Section, the out-of-state savings bank may establish | 18 | | and maintain additional branches in this State to the same | 19 | | extent as an Illinois State savings bank. An out-of-state | 20 | | savings bank shall provide written notice to the Commissioner | 21 | | of its intent to establish an additional branch or additional | 22 | | branches in this State within 30 days after receiving approval | 23 | | from its chartering authority or other appropriate regulatory | 24 | | agency to establish the branch or branches. The form of the | 25 | | notice shall be specified by the Commissioner. | 26 | | (e) A branch of an out-of-state savings bank may not |
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| 1 | | conduct any activity that is not authorized for an Illinois | 2 | | State savings bank.
| 3 | | (Source: P.A. 93-965, eff. 8-20-04.) | 4 | | (205 ILCS 205/9002.1) | 5 | | Sec. 9002.1. Savings Bank Regulatory Fund. | 6 | | (a) The aggregate of all moneys collected by the Secretary | 7 | | under this Act shall be paid promptly after receipt of the | 8 | | same, accompanied by a detailed statement thereof, into the | 9 | | State treasury and shall be set apart in the Savings Bank | 10 | | Regulatory Fund. All earnings received from investments of | 11 | | funds in the Savings Bank Regulatory Fund shall be deposited | 12 | | into the Savings Bank Regulatory Fund and may be used for the | 13 | | same purposes as fees deposited into the Savings Bank | 14 | | Regulatory Fund. The amount from time to time deposited into | 15 | | the Fund shall be used (i) to offset the ordinary | 16 | | administration expenses as defined in subsection (c) of this | 17 | | Section or (ii) as a credit against fees under subsection (b) | 18 | | of this Section. Nothing in this Section shall prevent | 19 | | continuing the practice of paying expenses involving salaries, | 20 | | retirement, Social Security, and State paid insurance premiums | 21 | | of State officers by appropriation from the General Revenue | 22 | | Fund. However, the General Revenue Fund shall be reimbursed for | 23 | | those payments made by an annual transfer of funds from the | 24 | | Savings Bank Regulatory Fund. Money in the Savings Bank | 25 | | Regulatory Fund may be transferred to the Professions Indirect |
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| 1 | | Cost Fund as authorized under Section 2105-300 of the | 2 | | Department of Professional Regulation Law of the Civil | 3 | | Administrative Code of Illinois. | 4 | | (b) Adequate funds shall be available in the Savings Bank | 5 | | Regulatory Fund to permit the timely payment of administration | 6 | | expenses. In each fiscal year, the total administration | 7 | | expenses shall be deducted from the total fees collected by the | 8 | | Secretary and the remainder transferred into the Cash Flow | 9 | | Reserve Account, unless the balance of the Cash Flow Reserve | 10 | | Account prior to the transfer equals or exceeds one-fourth of | 11 | | the total initial appropriations from the Savings Bank | 12 | | Regulatory Fund for the subsequent year, in which case the | 13 | | remainder shall be credited to savings banks and applied | 14 | | against their fees for the subsequent year. The amount credited | 15 | | to each savings bank shall be in the same proportion as the | 16 | | regulatory fees paid by each for the year bear to the total | 17 | | regulatory fees collected for the year. If, after a transfer to | 18 | | the Cash Flow Reserve Account is made or if no remainder is | 19 | | available for transfer, the balance of the Cash Flow Reserve | 20 | | Account is less than one-fourth of the total initial | 21 | | appropriations for the subsequent year and the amount | 22 | | transferred is less than 5% of the total regulatory fees for | 23 | | the year, additional amounts needed to make the transfer equal | 24 | | to 5% of the total regulatory fees for the year shall be | 25 | | apportioned amongst, assessed upon, and paid by savings banks | 26 | | in the same proportion that the regulatory fees of each, |
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| 1 | | respectively, for the year bear to the total regulatory fees | 2 | | collected for the year. The additional amounts assessed shall | 3 | | be transferred into the Cash Flow Reserve Account. | 4 | | (c) For purposes of this Section, the following terms shall | 5 | | have the following meanings: | 6 | | "Administration expenses", for any fiscal year, means the | 7 | | ordinary and contingent expenses for that year incident to | 8 | | making the examinations provided for by, and for otherwise | 9 | | administering, this Act, including all salaries and other | 10 | | compensation paid for personal services rendered for the State | 11 | | by officers or employees of the State, including the Secretary | 12 | | and the Director of the Division, communication equipment and | 13 | | services, office furnishings, surety bond premiums, and travel | 14 | | expenses of those officers and employees, expenditures or | 15 | | charges for the acquisition, enlargement or improvement of, or | 16 | | for the use of, any office space, building, or structure, or | 17 | | expenditures for the maintenance thereof or for furnishing | 18 | | heat, light, or power with respect thereto, all to the extent | 19 | | that those expenditures are directly incidental to such | 20 | | examinations or administration. The Secretary shall not be | 21 | | required by this subsection to maintain in any fiscal year's | 22 | | budget appropriated reserves for accrued vacation and accrued | 23 | | sick leave that is required to be paid to employees of the | 24 | | Secretary upon termination of their service with the Secretary | 25 | | in an amount that is more than is reasonably anticipated to be | 26 | | necessary for any anticipated turnover in employees, whether |
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| 1 | | due to normal attrition or due to layoffs, terminations, or | 2 | | resignations. | 3 | | "Regulatory fees" includes both fees collected under | 4 | | Section 9002.5 and fees collected for examinations conducted by | 5 | | the Secretary or his examiners or designees under authority of | 6 | | this Act. | 7 | | "Fiscal year" means a period beginning July 1 of any year | 8 | | and ending June 30 of the next year.
| 9 | | (Source: P.A. 98-1081, eff. 1-1-15 .) | 10 | | (205 ILCS 205/9002.5) | 11 | | Sec. 9002.5. Regulatory fees. | 12 | | (a) For the fiscal year beginning July 1, 2007 and every | 13 | | year thereafter, each savings bank and each service corporation | 14 | | operating under this Act shall pay in quarterly installments | 15 | | equal to one-fourth of a fixed fee of $520, plus a regulatory | 16 | | variable fee based on the total assets of the savings bank or | 17 | | service corporation, as shown in the quarterly report of | 18 | | condition, at the following rates: | 19 | | 19.295 cents per $1,000 of the first $5,000,000 of | 20 | | total assets; | 21 | | 18.16 cents per $1,000 of the next $20,000,000 of total | 22 | | assets; | 23 | | 15.89 cents per $1,000 of the next $75,000,000 of total | 24 | | assets; | 25 | | 10.7825 cents per $1,000 of the next $400,000,000 of |
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| 1 | | total assets; | 2 | | 8.5125 cents per $1,000 of the next $500,000,000 of | 3 | | total assets; | 4 | | 6.2425 cents per $1,000 of the next $19,000,000,000 of | 5 | | total assets; | 6 | | 2.27 cents per $1,000 of the next $30,000,000,000 of | 7 | | total assets; | 8 | | 1.135 cents per $1,000 of the next $50,000,000,000 of | 9 | | total assets; and | 10 | | 0.5675 cents per $1,000 of all assets in excess of | 11 | | $100,000,000,000 of the savings bank. | 12 | | 24.97˘ per $1,000 of the first $2,000,000 of total | 13 | | assets; | 14 | | 22.70˘ per $1,000 of the next $3,000,000 of total | 15 | | assets; | 16 | | 20.43˘ per $1,000 of the next $5,000,000 of total | 17 | | assets; | 18 | | 17.025˘ per $1,000 of the next $15,000,000 of total | 19 | | assets; | 20 | | 14.755˘ per $1,000 of the next $25,000,000 of total | 21 | | assets; | 22 | | 12.485˘ per $1,000 of the next $50,000,000 of total | 23 | | assets; | 24 | | 10.215˘ per $1,000 of the next $400,000,000 of total | 25 | | assets; | 26 | | 6.81˘ per $1,000 of the next $500,000,000 of total |
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| 1 | | assets; and | 2 | | 4.54˘ per $1,000 of all total assets in excess of | 3 | | $1,000,000,000 of such savings bank or service | 4 | | corporation. | 5 | | As used in this Section, "quarterly report of condition" | 6 | | means the Report of Condition and Income (Call Report), which | 7 | | the Secretary requires. | 8 | | (a-5) Any savings bank or service corporation operating | 9 | | under this Act examined by the Department between January 1, | 10 | | 2016 and the effective date of this amendatory Act of the 99th | 11 | | General Assembly shall be subject to the regulatory fee | 12 | | schedule in subsection (a), provided that a regulatory fee | 13 | | shall not be paid to or due by the Department for the first | 14 | | billing of the regulatory fee immediately following the | 15 | | effective date of this amendatory Act of the 99th General | 16 | | Assembly. Any institution subject to this subsection shall pay | 17 | | the regulatory fee as prescribed in subsection (a) beginning | 18 | | with the second billing of the regulatory fee by the Department | 19 | | following the effective date of this amendatory Act of the 99th | 20 | | General Assembly. | 21 | | (b) (Blank). | 22 | | (c) (Blank). The Secretary shall receive and there shall be | 23 | | paid to the Secretary by each savings bank and each service | 24 | | corporation a fee of $520 for each approved branch office or | 25 | | facility office established under the Illinois Administrative | 26 | | Code. The determination of the fees shall be made annually as |
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| 1 | | of the close of business of the prior calendar year ended | 2 | | December 31.
| 3 | | (d) The Secretary shall receive for each fiscal year, | 4 | | commencing with the fiscal year ending June 30, 2014, a | 5 | | contingent fee equal to the lesser of the aggregate of the fees | 6 | | paid by all savings banks under subsection subsections (a) , | 7 | | (b), and (c) of this Section for that year, or the amount, if | 8 | | any, whereby the aggregate of the administration expenses, as | 9 | | defined in subsection (c) of Section 9002.1 of this Act, for | 10 | | that fiscal year exceeds the sum of the aggregate of the fees | 11 | | payable by all savings banks for that year under subsection | 12 | | subsections (a) , (b), and (c) of this Section, plus any amounts | 13 | | transferred into the Savings Bank Regulatory Fund from the | 14 | | State Pensions Fund for that year, plus all other amounts | 15 | | collected by the Secretary for that year under any other | 16 | | provision of this Act. The aggregate amount of the contingent | 17 | | fee thus arrived at for any fiscal year shall be apportioned | 18 | | amongst, assessed upon, and paid by the savings banks, | 19 | | respectively, in the same proportion that the fee of each under | 20 | | subsection subsections (a) , (b), and (c) of this Section, | 21 | | respectively, for that year bears to the aggregate for that | 22 | | year of the fees collected under subsection subsections (a) , | 23 | | (b), and (c) of this Section. The aggregate amount of the | 24 | | contingent fee, and the portion thereof to be assessed upon | 25 | | each savings bank, respectively, shall be determined by the | 26 | | Secretary and shall be paid by each, respectively, within 120 |
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| 1 | | days of the close of the period for which the contingent fee is | 2 | | computed and is payable, and the Secretary shall give 20 days | 3 | | advance notice of the amount of the contingent fee payable by | 4 | | the savings bank and of the date fixed by the Secretary for | 5 | | payment of the fee. | 6 | | (Source: P.A. 98-1081, eff. 1-1-15; 99-39, eff. 1-1-16 .)
| 7 | | (205 ILCS 205/9004) (from Ch. 17, par. 7309-4)
| 8 | | Sec. 9004. Examination.
| 9 | | (a) At least once every 18 months or more often if it is
| 10 | | deemed necessary or expedient, the Secretary shall examine the
| 11 | | books, records, operations, and affairs of each savings bank
| 12 | | operating under this Act. In the course of the examination, the | 13 | | Secretary may
also examine in the same manner all entities,
| 14 | | companies, and individuals which or whom the Secretary | 15 | | determines
may have a relationship with the savings bank or any | 16 | | subsidiary or
entity affiliated with it, if the relationship | 17 | | may adversely affect
the affairs, activities, and safety and | 18 | | soundness of the savings
bank, including: (i) companies | 19 | | controlled by the savings bank;
(ii) entities, including | 20 | | companies controlled by the company,
individual, or | 21 | | individuals that control the savings bank;
and (iii) the | 22 | | company or other entity which controls or owns the
savings | 23 | | bank. Notwithstanding any other provision of this Act, every | 24 | | savings bank, as defined by rule, or, if not defined, to the | 25 | | same extent as would be permitted in the case of a State bank, |
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| 1 | | the Secretary, in lieu of the examination, may accept on an | 2 | | alternating basis the examination made by the eligible savings | 3 | | bank's appropriate federal banking agency pursuant to Section | 4 | | 111 of the Federal Deposit Insurance Corporation Improvement | 5 | | Act of 1991, provided the appropriate federal banking agency | 6 | | has made an examination.
| 7 | | (b) The Secretary shall examine to determine:
| 8 | | (1) Quality of financial condition, including safety | 9 | | and
soundness and investment and loan quality.
| 10 | | (2) Compliance with this Act and other applicable
| 11 | | statutes and regulations.
| 12 | | (3) Quality of management policies.
| 13 | | (4) Overall safety and soundness of the savings bank,
| 14 | | its parent, subsidiaries, and affiliates.
| 15 | | (5) Remedial actions required to correct and to restore
| 16 | | compliance with applicable statutes, regulations, and | 17 | | proper
business policies.
| 18 | | (c) The Secretary may promulgate regulations to
implement | 19 | | and administer this Section.
| 20 | | (d) If a savings bank, its holding company, or any of its
| 21 | | corporate subsidiaries has not been audited at least once in | 22 | | the
12 months prior to the Secretary's examination, the | 23 | | Secretary may cause an audit of the savings bank's books and | 24 | | records to be
made by an independent licensed public | 25 | | accountant. The cost of the audit
shall be paid for by the | 26 | | entity being audited.
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| 1 | | (e) The Secretary or his or her examiners or other
formally | 2 | | designated agents are authorized to administer oaths and
to | 3 | | examine and to take and preserve testimony under oath as to
| 4 | | anything in the affairs or ownership of any savings bank or
| 5 | | institution or affiliate thereof.
| 6 | | (f) Pursuant to subsection (c) of this Section, the | 7 | | Secretary shall adopt rules that ensure consistency and due | 8 | | process in the examination process. The Secretary may also | 9 | | establish guidelines that (i) define the scope of the | 10 | | examination process and (ii) clarify examination items to be | 11 | | resolved. The rules, formal guidance, interpretive letters, or | 12 | | opinions furnished to savings banks by the Secretary may be | 13 | | relied upon by the savings banks. | 14 | | (g) In case more than one examination of any savings bank | 15 | | is deemed by the Secretary to be necessary in any examination | 16 | | frequency cycle specified in subsection (a) of this Section and | 17 | | is performed at the Secretary's direction, the Secretary may | 18 | | assess a reasonable additional fee to recover the cost of the | 19 | | additional examination; provided, however, that an examination | 20 | | conducted at the request of the State Treasurer pursuant to the | 21 | | Uniform Disposition of Unclaimed Property Act shall not be | 22 | | deemed to be an additional examination under this Section. | 23 | | (h) If, in the opinion of the Secretary, an emergency | 24 | | exists or appears likely, the Secretary may assign an examiner | 25 | | or examiners to monitor the affairs of a savings bank with | 26 | | whatever frequency he deems appropriate, including, but not |
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| 1 | | limited to, a daily basis. The reasonable and necessary | 2 | | expenses of the Secretary during the period of the monitoring | 3 | | shall be borne by the savings bank. The Secretary shall furnish | 4 | | the savings bank a statement of time and expenses if requested | 5 | | to do so within 30 days of the conclusion of the monitoring | 6 | | period. | 7 | | (Source: P.A. 97-492, eff. 1-1-12; 98-784, eff. 7-24-14.)
| 8 | | (205 ILCS 205/9009) (from Ch. 17, par. 7309-9)
| 9 | | Sec. 9009. Orders of the Commissioner.
| 10 | | (a) If the affairs of the savings bank, savings bank
| 11 | | subsidiary or affiliate, or savings bank holding company are | 12 | | not
being conducted in accordance with this Act, the | 13 | | Commissioner shall
require the directors, officers, and | 14 | | employees to take any necessary
corrective action. If the | 15 | | necessary corrective action is not taken,
the Commissioner may | 16 | | issue a formal order to the directors of the
savings bank, | 17 | | subsidiary, affiliate, or holding company, to be
delivered | 18 | | either personally or by registered or certified mail,
| 19 | | specifying a date, which may be immediate or may be a later | 20 | | date,
for the performance of the corrective action by the | 21 | | savings bank,
subsidiary, affiliate, or holding company. The | 22 | | order or any part thereof
shall be subject to Section 11006 of | 23 | | this Act.
| 24 | | (b) If the formal order of the Commissioner, in whole or in
| 25 | | part, contains a finding that the business of the savings bank |
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| 1 | | or
holding company is being conducted in a fraudulent, illegal, | 2 | | unsafe,
or unsound manner or that the violation thereof or the | 3 | | continuance
by the savings bank or holding company of the | 4 | | practice to be
corrected could cause insolvency, substantial | 5 | | dissipation of
assets or earnings, or the impairment of its | 6 | | capital, the order or
part thereof shall be complied with | 7 | | immediately on or before the
effective date thereof until | 8 | | modified or withdrawn by the
Commissioner or modified or | 9 | | terminated by a circuit court. The
Commissioner may apply to | 10 | | the circuit court of the county in which
the savings bank or | 11 | | holding company is located for enforcement of
an order | 12 | | requiring prompt compliance.
| 13 | | (c) If the order, or part thereof, is not subject to | 14 | | subsection (b) and
if no hearing under pursuant to Section 9018 | 15 | | of this Act has been requested, the Commissioner may, at any | 16 | | time within 90
days after the effective date of the order, | 17 | | institute suit in the
circuit court of Sangamon County or the | 18 | | circuit court of the county
in which the savings bank or | 19 | | holding company is located to compel
the directors, officers, | 20 | | or employees to take the required
corrective action. The court, | 21 | | after due process of law, shall
adjudicate the question, enter | 22 | | the proper order or orders, and
enforce them.
| 23 | | (d) No provision of this Section shall interfere with the
| 24 | | exercise by the Commissioner of any provision of Article 11.
| 25 | | (Source: P.A. 91-97, eff. 7-9-99.)
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| 1 | | (205 ILCS 205/9013) (from Ch. 17, par. 7309-13)
| 2 | | Sec. 9013. Examination of data processing centers. | 3 | | (a) The Commissioner may examine any data processing center | 4 | | that
provides data processing or related services to a savings | 5 | | bank or a branch of an out-of state savings bank with
the same | 6 | | frequency as the savings bank served.
| 7 | | (b) The reasonable and necessary expenses of the Secretary | 8 | | during the examination of the performance of electronic data | 9 | | processing and related services shall be borne by the savings | 10 | | banks for which services are provided. | 11 | | (c) The reasonable and necessary expenses of the Secretary | 12 | | during the examination of the performance of electronic data | 13 | | processing and related services shall be borne by the branch of | 14 | | the out-of-state savings bank for which services are provided, | 15 | | unless those expenses are borne by the state regulatory | 16 | | authorities that chartered the out-of-state savings bank, as | 17 | | determined by cooperative agreements between the Secretary and | 18 | | the state regulatory authorities that chartered the | 19 | | out-of-state savings bank. | 20 | | (d) For the purpose of this Section, "data processing and | 21 | | related services" means services such as sorting and posting of | 22 | | checks and deposits, computation and posting of interest and | 23 | | other credits and charges, preparation and mailing of checks, | 24 | | statements, notices, and similar items, or any other clerical, | 25 | | bookkeeping, accounting, statistical, or similar functions | 26 | | performed for a savings bank, including, but not limited to, |
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| 1 | | electronic data processing related to those bank services. | 2 | | (Source: P.A. 86-1213.)
| 3 | | (205 ILCS 205/9018) (from Ch. 17, par. 7309-18)
| 4 | | Sec. 9018. Administrative review. Except as provided in | 5 | | Article 10 and as otherwise specifically
provided by this Act, | 6 | | any person aggrieved by a decision of the Secretary
under this | 7 | | Act may receive a hearing before the Secretary under Section | 8 | | 9002 and any rule adopted in accordance with this Act Sections | 9 | | 9018.1 through 9018.4 of this Act .
| 10 | | Except as provided in Article 10, any person affected by a | 11 | | final administrative decision of the Secretary may have the | 12 | | decision reviewed only under and in accordance with the | 13 | | Administrative Review Law. | 14 | | The provisions of the Administrative Review Law, all | 15 | | amendments and modifications to the Administrative Review Law, | 16 | | and the rules adopted under the Administrative Review Law shall | 17 | | apply to and govern all proceedings for the judicial review of | 18 | | final administrative decisions of the Secretary under this Act. | 19 | | For the purposes of this Section, "administrative decision" is | 20 | | defined as in Section 3-101 of the Code of Civil Procedure. | 21 | | Appeals from all final orders and judgments entered by a | 22 | | court in review of any final administrative decision of the | 23 | | Secretary under this Act may be taken as in other civil cases. | 24 | | (Source: P.A. 97-492, eff. 1-1-12.)
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| 1 | | (205 ILCS 205/9018.1 rep.) | 2 | | (205 ILCS 205/9018.2 rep.) | 3 | | (205 ILCS 205/9018.3 rep.) | 4 | | (205 ILCS 205/9018.4 rep.) | 5 | | Section 15. The Savings Bank Act is amended by repealing | 6 | | Sections 9018.1, 9018.2, 9018.3, and 9018.4. | 7 | | Section 20. The Electronic Fund Transfer Act is amended by | 8 | | changing Section 30 as follows:
| 9 | | (205 ILCS 616/30)
| 10 | | Sec. 30. Acceptance of deposits.
| 11 | | (A) No terminal that accepts deposits of
funds to an
| 12 | | account may be established or owned in this State except by (a) | 13 | | a bank
established under
the laws of this or any other state or | 14 | | established under the laws of the United
States that (1) is | 15 | | authorized by law to establish a
branch in this State or (2) is | 16 | | permitted by rule of the Commissioner to
establish | 17 | | deposit-taking terminals in this State in order to maintain
| 18 | | parity between national banks and banks
established under the | 19 | | laws of this or any other state, (b) a savings and loan
| 20 | | association or savings bank established under the laws of this | 21 | | or any other
state or established under the laws of the United | 22 | | States, (c) a credit union
established under the laws of this | 23 | | or any other state or established under the
laws of the United | 24 | | States, or (d) a licensee under the Consumer Installment
Loan
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| 1 | | Act or the Sales Finance Agency Act.
| 2 | | (B) A person other than a financial institution or an | 3 | | affiliate of a
financial institution may establish or own, in | 4 | | whole or in part, a
cash-dispensing terminal at
which an | 5 | | interchange transaction may be performed, provided that the | 6 | | terminal
does not accept deposits of funds to an account, and | 7 | | provided that the person
establishing or owning the terminal | 8 | | must post a telephone number on the terminal for consumers to | 9 | | call to report problems, along with the Department's telephone | 10 | | number shall file a notice of establishment or
ownership of a | 11 | | terminal with the Commissioner, in the form prescribed by the
| 12 | | Commissioner, within 60 days after the later of (a) the | 13 | | effective day of this
amendatory Act of 1997 or (b) the | 14 | | establishment of or acquisition of an
ownership interest in the | 15 | | terminal . Persons who own a terminal pursuant to
this | 16 | | subsection (B) shall thereafter file with the Commissioner a | 17 | | full and
accurate statement of information of ownership, in the | 18 | | form prescribed by the
Commissioner, once per calendar year. A | 19 | | person who has established or owns a
terminal pursuant to this | 20 | | subsection (B) shall not be required to file
subsequent notices | 21 | | of establishment or ownership of a terminal when
establishing | 22 | | or acquiring an ownership interest in additional terminals
| 23 | | provided the person includes the information required by the | 24 | | Commissioner for
those terminals in the person's annual filing | 25 | | pursuant to this subsection (B).
The Commissioner or examiners | 26 | | appointed by the Commissioner shall have the
authority to |
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| 1 | | examine any person that has established or owns a terminal in | 2 | | this
State pursuant to this subsection (B) if the Commissioner | 3 | | has received multiple
complaints regarding one or more | 4 | | terminals owned by the person, and in the
event of such an | 5 | | examination, the person shall pay the reasonable costs and
| 6 | | expenses of the examination as determined by the Commissioner. | 7 | | The
Commissioner may impose civil penalties of up to $1,000 | 8 | | against any person
subject to this subsection (B) for
the first | 9 | | failure to comply with this Act and up to $10,000 for the | 10 | | second and
each subsequent failure to comply with this Act. All | 11 | | moneys received by the
Commissioner under this subsection (B) | 12 | | shall be paid into, and all expenses
incurred by the | 13 | | Commissioner under this subsection (B) shall be paid from, the
| 14 | | Bank and Trust Company Fund.
| 15 | | (C) A network operating in this
State shall maintain a | 16 | | directory of the locations of cash-dispensing terminals
at | 17 | | which an interchange transaction may be performed that are | 18 | | established or
owned in
this State by its members and shall | 19 | | file the directory with the Commissioner
within 60 days after | 20 | | the effective date of this amendatory Act of 1997 and
| 21 | | thereafter once per calendar year.
| 22 | | (Source: P.A. 89-310, eff. 1-1-96; 90-189, eff. 1-1-98.)
| 23 | | Section 25. The Corporate Fiduciary Act is amended by | 24 | | changing Section 1-7 as follows:
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| 1 | | (205 ILCS 620/1-7) (from Ch. 17, par. 1551-7)
| 2 | | Sec. 1-7. Office locations ; corporate fiduciaries.
| 3 | | (a) Any corporate fiduciary may establish branch offices at | 4 | | any
location. Any corporate fiduciary that seeks to establish a | 5 | | branch office
shall, if it is a trust company, apply for and | 6 | | obtain approval for the
branch office from the Secretary. | 7 | | Commissioner or, if it is a bank, savings and loan
association, | 8 | | or savings bank, give notice of its intent to establish a
| 9 | | branch office to the Commissioner, 30 days prior to the | 10 | | purchasing or
leasing of land, building, or equipment for the | 11 | | branch office under the
terms and conditions as the | 12 | | Commissioner shall specify by rule.
| 13 | | (b) Any trust company that proposes to establish a | 14 | | subsidiary,
whether by incorporating the subsidiary or by | 15 | | acquiring the subsidiary,
shall apply for and obtain prior | 16 | | approval from the Secretary Commissioner 60 days
prior to | 17 | | commencing business by the subsidiary, if newly incorporated, | 18 | | or
prior to its acquisition, if it is acquired, provided the | 19 | | Secretary Commissioner may
specify circumstances and | 20 | | conditions when a trust company may directly or
indirectly | 21 | | acquire a subsidiary without prior approval.
| 22 | | (Source: P.A. 90-665, eff. 7-30-98.)
| 23 | | Section 30. The Foreign Bank Representative Office Act is | 24 | | amended by changing Section 2 as follows:
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| 1 | | (205 ILCS 650/2) (from Ch. 17, par. 2852)
| 2 | | Sec. 2. Definitions. As used in this Act, unless the | 3 | | context requires
otherwise:
| 4 | | (a) "Commissioner" means the Secretary of Financial and | 5 | | Professional Regulation or a
person authorized by the | 6 | | Secretary, the Division of Banking Act,
or this Act to act in | 7 | | the Secretary's stead.
| 8 | | (b) "Foreign bank" means (1) a bank, savings bank, savings | 9 | | association, or trust company which is organized
under the laws | 10 | | of any state or territory of the United States, including the
| 11 | | District of Columbia, other than the State of Illinois; (2) a | 12 | | national bank
having its principal place of business in any | 13 | | state or territory of the United
States, including the District | 14 | | of Columbia, other than the State of Illinois;
or (3) a bank or | 15 | | trust company organized and operating under the laws of a
| 16 | | country other than the United States of America.
| 17 | | (c) "Representative office" means an office in the State of | 18 | | Illinois at
which a foreign bank engages in representational | 19 | | functions
but does not conduct a commercial banking business. | 20 | | (d) "Division" means the Division of Banking within the | 21 | | Department of Financial and Professional Regulation.
| 22 | | (Source: P.A. 98-1081, eff. 1-1-15 .)
| 23 | | (205 ILCS 690/20 rep.)
| 24 | | Section 35. The Check Printer and Check Number Act is | 25 | | amended by repealing Section 20.
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| 1 | | Section 99. Effective date. This Act takes effect upon | 2 | | becoming law.
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| 1 | |
INDEX
| 2 | |
Statutes amended in order of appearance
| | 3 | | 205 ILCS 5/21.1 | | | 4 | | 205 ILCS 5/21.4 | | | 5 | | 205 ILCS 5/48 | | | 6 | | 205 ILCS 205/1006 | from Ch. 17, par. 7301-6 | | 7 | | 205 ILCS 205/1006.05 | | | 8 | | 205 ILCS 205/9002.1 | | | 9 | | 205 ILCS 205/9002.5 | | | 10 | | 205 ILCS 205/9004 | from Ch. 17, par. 7309-4 | | 11 | | 205 ILCS 205/9009 | from Ch. 17, par. 7309-9 | | 12 | | 205 ILCS 205/9013 | from Ch. 17, par. 7309-13 | | 13 | | 205 ILCS 205/9018 | from Ch. 17, par. 7309-18 | | 14 | | 205 ILCS 205/9018.1 rep. | | | 15 | | 205 ILCS 205/9018.2 rep. | | | 16 | | 205 ILCS 205/9018.3 rep. | | | 17 | | 205 ILCS 205/9018.4 rep. | | | 18 | | 205 ILCS 616/30 | | | 19 | | 205 ILCS 620/1-7 | from Ch. 17, par. 1551-7 | | 20 | | 205 ILCS 650/2 | from Ch. 17, par. 2852 | | 21 | | 205 ILCS 690/20 rep. | | | 22 | | 815 ILCS 137/115 rep. | |
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