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91_HB2019ham001
LRB9105228LDmbam01
1 AMENDMENT TO HOUSE BILL 2019
2 AMENDMENT NO. . Amend House Bill 2019 on page 1,
3 line 2, by replacing "13 and 17" with "13, 17, and 39"; and
4 on page 1, by replacing line 6 with the following:
5 "changing Sections 13, 17, and 39 as follows:"; and
6 on page 2, by replacing lines 22 through 31 with the
7 following:
8 "banking business, a bank, upon written notice to the
9 Commissioner, may change its name by filing written notice
10 with the Commissioner at least 30 days prior to the effective
11 date of such change. A bank chartered under this Act may
12 change its main banking premises by filing written
13 application with the Commissioner, on forms prescribed by the
14 Commissioner, provided (i) the change shall not be a removal
15 to a new location without complying with the capital
16 requirements of Section 7 and of subsection (1) of Section 10
17 of this Act; (ii) the Commissioner approves the relocation or
18 change; and (iii) the bank complies with any applicable
19 federal law or regulation. The application shall be deemed
20 to be approved if the Commissioner has not acted on the
21 application within 30 days after receipt of the application,
22 unless within the 30-day time frame the Commissioner informs
23 the bank that an extension of time is necessary prior to the
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1 Commissioner's action on the application."; and
2 on page 11, after line 18, by inserting the following:
3 "(205 ILCS 5/39) (from Ch. 17, par. 349)
4 Sec. 39. Directors' and officers' liability.
5 (a) Every director or officer of a State bank, who
6 shall violate, or participate in, or assent to a violation of
7 Section 32, 33, 34, 35.1, or 35.2 of this Act, or who shall
8 permit any of the officers, agents, or servants of the state
9 bank to violate the provisions of Section 32, 33, 34, 35.1,
10 or 35.2 of this Act shall be held liable in his or her
11 personal or individual capacity for all damages which the
12 State bank, its stockholders, or any other person shall have
13 sustained in consequence of the violation. No director or
14 officer of a State bank shall be held liable in his or her
15 personal or individual capacity under this Section, however,
16 for a loan, investment, lease, or other transaction that
17 complied in good faith with the applicable provisions of
18 Section 32, 33, 34, 35.1, or 35.2, when made or acquired by
19 the State bank, but later violated the provisions of Section
20 32, 33, 34, 35.1, or 35.2 solely because of a subsequent
21 reduction in the amount of the unimpaired capital or
22 unimpaired surplus of the State bank. Nothing contained in
23 this Section shall be construed to limit in any way the
24 Commissioner's powers and authority including, but not
25 limited to, the powers and authority vested in the
26 Commissioner by Section 48 of this Act.
27 (b) By the affirmative vote of the holders of at least
28 two-thirds of the outstanding shares of stock of a State
29 bank, such vote occurring at any annual or special meeting of
30 shareholders held pursuant to this Act or occurring pursuant
31 to the waiver provisions of Section 43 of this Act, The
32 charter of a State bank may establish contain a provision
33 providing that a director is not personally liable to the
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1 bank or its shareholders for monetary damages for a breach of
2 the director's fiduciary duty; provided, however, that such
3 provision may not eliminate or limit the liability of a
4 director for any of the following:
5 (1) An act or omission that is grossly negligent.
6 (2) A breach of the director's duty of loyalty to
7 the bank or its shareholders.
8 (3) Acts or omissions not in good faith or that
9 involve intentional misconduct or a knowing violation of
10 law.
11 (4) A transaction from which the director derived
12 an improper personal benefit.
13 (5) An act or omission occurring before the
14 effective date of the provision in the charter authorized
15 by this subsection.
16 (Source: P.A. 88-636, eff. 9-9-94.)".