Senate Sponsors: O'MALLEY. House Sponsors: BUGIELSKI-RUTHERFORD-MEYER-ZICKUS Short description: SAVINGS BNK-LOAN FIDUCIARY Synopsis of Bill as introduced: Amends the Illinois Savings and Loan Act of 1985. Authorizes savings and loan associations to act as a custodian or trustee. Provides that the Commissioner of Banks and Real Estate may defer taking control of a savings and loan association if it is resolving the matter in accordance with the direction of its deposit insurance corporation. Amends the Savings Bank Act. Removes the authority of the Commissioner of Banks and Real Estate to approve the location and operation of electronic fund transfer terminals. Authorizes alternative voting arrangements for mutual savings banks. Provides that receipt of certain notices may be waived by the person entitled to receive the notice. Authorizes savings banks to convert to any type of depository institution. Amends the Corporate Fiduciary Act. Incorporates references to savings banks throughout the Act. Effective immediately. FISCAL NOTE (Office of Banks and Real Estate) There will be no fiscal impact on this Department. Last action on Bill: PUBLIC ACT.............................. 91-0097 Last action date: 99-07-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status