[ Search ] [ PDF text ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
92_HB5748 LRB9214335JSpc 1 AN ACT in relation to financial regulation. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Savings Bank Act is amended by changing 5 Section 6014 as follows: 6 (205 ILCS 205/6014) (from Ch. 17, par. 7306-14) 7 Sec. 6014. Commissioner's regulations. 8 (a) The Commissioner shall makepromulgaterules and 9 regulations to determine permissible levels of investment and 10 permissible concentrations of assets for savings banks 11 applicable to all lending and investment authority granted by 12 this Article 6. The rules and regulations shall give due 13 regard to capital adequacy, operating income, underwriting 14 standards, risk inherent in the investment or loan, and 15 competitive parity with other financial institutions. 16 (b) Violations of any of the provisions of this Article 17 6 shall constitute an unsafe and unsound practice and may 18 subject the savings bank, its directors, officers, or agents 19 to enforcement actions, civil money penalties, or other 20 sanctions as provided in this Act. 21 (Source: P.A. 86-1213.)