O'MALLEY-WALSH,L-SIEBEN AND DONAHUE. (BEAUBIEN-BUGIELSKI-MEYER-TENHOUSE-KENNER) 205 ILCS 5/33 from Ch. 17, par. 341 Amends the Illinois Banking Act. Provides that the eligibility of a marketable investment security to be purchased by a State bank is determined at the time of the purchase. Requires that the marketable investment security must receive the requisite investment rating from at least one national rating service. Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 205 ILCS 5/33 Adds reference to: New Act Deletes everything. Creates the Data Processing Services for Financial Institutions Act. Provides that when a financial institution contracts with an independent data processing servicer for any product or service that requires an interface of communications with a second independent data processing servicer with which the financial institu- tion has a contractual relationship, the second independent data pro- cessing servicer shall permit the necessary interface to occur pur- suant to a commercially reasonable interface agreement. Provides for arbitration of disputes in accordance with the Uniform Arbitration Act. Effective immediately. 00-01-20 S FIRST READING 00-01-20 S REFERRED TO SENATE RULES COMMITTEE RULES 00-02-09 S ASSIGNED TO COMMITTEE FIN INST 00-02-17 S AMENDMENT NO. 01-FINANC. INST. S 00-02-17 S ADOPTED 00-02-17 S DO PASS AS AMENDED 008-000-000 SFIC 00-02-17 S PLACED ON CALENDAR ORDER OF 2ND READING .00-02-22 00-02-17 S ADDED AS A CHIEF CO-SPONSOR WALSH,L 00-02-23 S SECOND READING 00-02-23 S PLACED ON CALENDAR ORDER OF 3RD READING 00-02-24 00-02-23 S ADDED AS A CHIEF CO-SPONSOR SIEBEN 00-02-23 S ADDED AS A CO-SPONSOR DONAHUE 00-02-24 S THIRD READING - PASSED 059-000-000 00-02-24 H ARRIVE IN HOUSE 00-02-24 H HOUSE SPONSOR BEAUBIEN 00-02-24 H ADDED AS A JOINT SPONSOR BUGIELSKI 00-02-24 H ADDED AS A JOINT SPONSOR MEYER 00-02-24 H ADDED AS A JOINT SPONSOR TENHOUSE 00-02-24 H ADDED AS A JOINT SPONSOR KENNER 00-02-24 H FIRST READING 00-02-24 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-02-29 H ASSIGNED TO COMMITTEE FIN INSTIT 00-03-08 H DO PASS/SHORT DEBATE 017-000-000 HFIN 00-03-08 H PLACED CALENDAR 2ND READING-SHORT DEBATE 00-03-22 H SECOND READING-SHORT DEBATE 00-03-22 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 00-03-23 H THIRD READING/SHORT DEBATE/PASSED 115-000-000 00-03-23 S PASSED BOTH HOUSES 00-04-21 S SENT TO THE GOVERNOR 00-06-02 S GOVERNOR APPROVED 00-06-02 S EFFECTIVE DATE 00-06-02 00-06-02 S PUBLIC ACT.............................. 91-0742 END OF INQUIRY Full Text Bill Summary