State of Illinois
92nd General Assembly
Legislation

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92_HB4357sam001

 










                                           LRB9212373JSpram01

 1                    AMENDMENT TO HOUSE BILL 4357

 2        AMENDMENT NO.___. Amend House Bill  4357  on  page  3  by
 3    replacing line 11 with the following:

 4    "asset  ratio  falls  below  2%. In calculating the danger of
 5    insolvency ratio, secondary capital shall  be  excluded.  For
 6    purposes  of Section 61, a credit union is also in "danger of
 7    insolvency" if the Department is unable to"; and

 8    on page 7 by replacing lines 4, 5, and 6 with the following:

 9    "union organization in which a credit union  loans,  invests,
10    or   delegates   substantially   all  managerial  duties  and
11    responsibilities when he determines that such  examinations";
12    and

13    on page 9, line 13, by replacing "order;" with "order; to the
14    appropriate  law enforcement authorities when the Director or
15    the credit union reasonably believes the credit union,  which
16    the  Director has caused to be examined, has been a victim of
17    a crime;"; and

18    on page 16, line 17, by deleting "and benefits"; and

19    on page  18  by  replacing  lines  13  through  17  with  the
20    following:
 
                            -2-            LRB9212373JSpram01
 1    "operations of the credit union, provided that prior approval
 2    is received from the Department before becoming involved with
 3    a  credit  union organization by loaning to, investing in, or
 4    delegating   substantially   all   managerial   duties    and
 5    responsibilities  to  a  such credit union organization,; and
 6    fix".

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