House Sponsors: RUTHERFORD-RYDER-BRADY-MCAULIFFE-TENHOUSE. Senate Sponsors: KLEMM-WALSH,T Short description: BANKS-REVERSE STOCK SPLITS Synopsis of Bill as introduced: Amends the Illinois Banking Act. Authorizes banks to engage in reverse stock splits. Provides that banks may issue fractional shares. Allows the elimination of fractional shares. Requires payment of fair value for the fractional shares eliminated. Effective immediately. FISCAL NOTE (Office of Banks & Real Estate) This bill would have no fiscal impact on this Dept. Last action on Bill: PUBLIC ACT.............................. 90-0160 Last action date: 97-07-23 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status