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
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status