House Sponsors: KUBIK-HARTKE. Senate Sponsors: WEAVER,S Short description: BANKS CHANGE IN CONTROL Synopsis of Bill as introduced: Amends the Illinois Banking Act to prohibit a change in control if the persons seeking control would, after obtaining control, control 30% or more of the deposits located in this State. Provides that no state or national bank whose main banking premises are located in another state may merge into or acquire an Illinois bank that has operated as a bank for 5 years or less. Amends the Illinois Bank Holding Company Act of 1957 to restrict mergers with Illinois banks that have operated for 5 years or less and are controlled by an out of State bank. Prohibits combinations that would result in control of 30% or more of the deposits in Illinois. Effective June 1, 1997. FISCAL NOTE (Office of Banks & Real Estate) HB 2169 should create little or no fiscal impact for this Dept. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status