House Sponsors: PERSICO-BUGIELSKI-HASSERT-NOVAK-OSMOND. Senate Sponsors: O'MALLEY Short description: BANKING ACT NAME-INFORMATION Synopsis of Bill as introduced: Amends the Illinois Banking Act. Provides that information in an application for a permit to organize a bank that is personal or proprietary, including names of proposed management and net worth of applicants, may be submitted in a confidential section of or addendum to the application. Prohibits the use of a name of an existing bank or a name deceptively similar to that of an existing bank when soliciting customers. Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 205 ILCS 5/9 Adds reference to: 205 ILCS 5/16 from Ch. 17, par. 323 Amends the Illinois Banking Act. Provides that in discharging their duties, bank directors are entitled to rely in good faith upon advice from officers, employees, and other persons. Deletes provisions concerning confidentiality of information in an application for a permit to organize a bank. Last action on Bill: PUBLIC ACT.............................. 92-0476 Last action date: AUG-23-2001 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status