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Public Act 100-0664
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| SB2385 Enrolled | LRB100 17898 MJP 33082 b |
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AN ACT concerning regulation.
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Be it enacted by the People of the State of Illinois, |
represented in the General Assembly:
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Section 5. The Illinois Banking Act is amended by changing |
Section 48.1 as follows:
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(205 ILCS 5/48.1) (from Ch. 17, par. 360)
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Sec. 48.1. Customer financial records; confidentiality.
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(a) For the purpose of this Section, the term "financial |
records" means any
original, any copy, or any summary of:
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(1) a document granting signature
authority over a |
deposit or account;
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(2) a statement, ledger card or other
record on any |
deposit or account, which shows each transaction in or with
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respect to that account;
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(3) a check, draft or money order drawn on a bank
or |
issued and payable by a bank; or
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(4) any other item containing
information pertaining |
to any relationship established in the ordinary
course of a |
bank's business between a bank and its customer, including
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financial statements or other financial information |
provided by the customer.
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(b) This Section does not prohibit:
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(1) The preparation, examination, handling or |
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maintenance of any
financial records by any officer, |
employee or agent of a bank
having custody of the records, |
or the examination of the records by a
certified public |
accountant engaged by the bank to perform an independent
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audit.
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(2) The examination of any financial records by, or the |
furnishing of
financial records by a bank to, any officer, |
employee or agent of (i) the
Commissioner of Banks and Real |
Estate, (ii) after May
31, 1997, a state regulatory |
authority authorized to examine a branch of a
State bank |
located in another state, (iii) the Comptroller of the |
Currency,
(iv) the Federal Reserve Board, or (v) the |
Federal Deposit Insurance
Corporation for use solely in the |
exercise of his duties as an officer,
employee, or agent.
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(3) The publication of data furnished from financial |
records
relating to customers where the data cannot be |
identified to any
particular customer or account.
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(4) The making of reports or returns required under |
Chapter 61 of
the Internal Revenue Code of 1986.
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(5) Furnishing information concerning the dishonor of |
any negotiable
instrument permitted to be disclosed under |
the Uniform Commercial Code.
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(6) The exchange in the regular course of business of |
(i) credit
information
between a bank and other banks or |
financial institutions or commercial
enterprises, directly |
or through a consumer reporting agency or (ii)
financial |
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records or information derived from financial records |
between a bank
and other banks or financial institutions or |
commercial enterprises for the
purpose of conducting due |
diligence pursuant to a purchase or sale involving
the bank |
or assets or liabilities of the bank.
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(7) The furnishing of information to the appropriate |
law enforcement
authorities where the bank reasonably |
believes it has been the victim of a
crime.
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(8) The furnishing of information under the Revised |
Uniform
Unclaimed Property Act.
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(9) The furnishing of information under the Illinois |
Income Tax Act and
the Illinois Estate and |
Generation-Skipping Transfer Tax Act.
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(10) The furnishing of information under the federal |
Currency
and Foreign Transactions Reporting Act Title 31, |
United States
Code, Section 1051 et seq.
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(11) The furnishing of information under any other |
statute that
by its terms or by regulations promulgated |
thereunder requires the disclosure
of financial records |
other than by subpoena, summons, warrant, or court order.
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(12) The furnishing of information about the existence |
of an account
of a person to a judgment creditor of that |
person who has made a written
request for that information.
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(13) The exchange in the regular course of business of |
information
between commonly owned banks in connection |
with a transaction authorized
under paragraph (23) of
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Section 5 and conducted at an affiliate facility.
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(14) The furnishing of information in accordance with |
the federal
Personal Responsibility and Work Opportunity |
Reconciliation Act of 1996.
Any bank governed by this Act |
shall enter into an agreement for data
exchanges with a |
State agency provided the State agency
pays to the bank a |
reasonable fee not to exceed its
actual cost incurred. A |
bank providing
information in accordance with this item |
shall not be liable to any account
holder or other person |
for any disclosure of information to a State agency, for
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encumbering or surrendering any assets held by the bank in |
response to a lien
or order to withhold and deliver issued |
by a State agency, or for any other
action taken pursuant |
to this item, including individual or mechanical errors,
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provided the action does not constitute gross negligence or |
willful misconduct.
A bank shall have no obligation to |
hold, encumber, or surrender assets until
it has been |
served with a subpoena, summons, warrant, court or |
administrative
order,
lien, or levy.
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(15) The exchange in the regular course of business of |
information
between
a bank and any commonly owned affiliate |
of the bank, subject to the provisions
of the Financial |
Institutions Insurance Sales Law.
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(16) The furnishing of information to law enforcement |
authorities, the
Illinois Department on
Aging and its |
regional administrative and provider agencies, the |
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Department of
Human Services Office
of Inspector General, |
or public guardians: (i) upon subpoena by the investigatory |
entity or the guardian, or (ii) if there is suspicion by |
the bank that a customer
who is an elderly person or person |
with a disability has been or may become the victim of |
financial exploitation.
For the purposes of this
item (16), |
the term: (i) "elderly person" means a person who is 60 or |
more
years of age, (ii) "disabled
person" means a person |
who has or reasonably appears to the bank to have a
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physical or mental
disability that impairs his or her |
ability to seek or obtain protection from or
prevent |
financial
exploitation, and (iii) "financial exploitation" |
means tortious or illegal use
of the assets or resources of
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an elderly or disabled person, and includes, without |
limitation,
misappropriation of the elderly or
disabled |
person's assets or resources by undue influence, breach of |
fiduciary
relationship, intimidation,
fraud, deception, |
extortion, or the use of assets or resources in any manner
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contrary to law. A bank or
person furnishing information |
pursuant to this item (16) shall be entitled to
the same |
rights and
protections as a person furnishing information |
under the Adult Protective Services Act and the Illinois
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Domestic Violence Act of 1986.
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(17) The disclosure of financial records or |
information as necessary to
effect, administer, or enforce |
a transaction requested or authorized by the
customer, or |
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in connection with:
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(A) servicing or processing a financial product or |
service requested or
authorized by the customer;
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(B) maintaining or servicing a customer's account |
with the bank; or
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(C) a proposed or actual securitization or |
secondary market sale
(including sales of servicing |
rights) related to a
transaction of a customer.
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Nothing in this item (17), however, authorizes the sale |
of the financial
records or information of a customer |
without the consent of the customer.
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(18) The disclosure of financial records or |
information as necessary to
protect against actual or |
potential fraud, unauthorized transactions, claims,
or |
other liability.
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(19)(a) The disclosure of financial records or |
information
related to a private label credit program |
between a financial
institution and a private label party |
in connection with that
private label credit program. Such |
information is limited to
outstanding balance, available |
credit, payment and performance
and account history, |
product references, purchase information,
and information
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related to the identity of the customer.
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(20)(a) The furnishing of financial records of a |
customer to the Department to aid the Department's initial |
determination or subsequent re-determination of the |
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customer's eligibility for Medicaid and Medicaid long-term |
care benefits for long-term care services, provided that |
the bank receives the written consent and authorization of |
the customer, which shall: |
(1) have the customer's signature notarized; |
(2) be signed by at least one witness who certifies |
that he or she believes the customer to be of sound |
mind and memory; |
(3) be tendered to the bank at the earliest |
practicable time following its execution, |
certification, and notarization; |
(4) specifically limit the disclosure of the |
customer's financial records to the Department; and |
(5) be in substantially the following form:
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CUSTOMER CONSENT AND AUTHORIZATION |
FOR RELEASE OF FINANCIAL RECORDS
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I, ......................................., hereby authorize |
(Name of Customer)
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............................................................. |
(Name of Financial Institution)
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............................................................. |
(Address of Financial Institution)
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to disclose the following financial records:
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any and all information concerning my deposit, savings, money |
market, certificate of deposit, individual retirement, |
retirement plan, 401(k) plan, incentive plan, employee benefit |
plan, mutual fund and loan accounts (including, but not limited |
to, any indebtedness or obligation for which I am a |
co-borrower, co-obligor, guarantor, or surety), and any and all |
other accounts in which I have an interest and any other |
information regarding me in the possession of the Financial |
Institution,
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to the Illinois Department of Human Services or the Illinois |
Department of Healthcare and Family Services, or both ("the |
Department"), for the following purpose(s):
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to aid in the initial determination or re-determination by the |
State of Illinois of my eligibility for Medicaid long-term care |
benefits, pursuant to applicable law.
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I understand that this Consent and Authorization may be revoked |
by me in writing at any time before my financial records, as |
described above, are disclosed, and that this Consent and |
Authorization is valid until the Financial Institution |
receives my written revocation. This Consent and Authorization |
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shall constitute valid authorization for the Department |
identified above to inspect all such financial records set |
forth above, and to request and receive copies of such |
financial records from the Financial Institution (subject to |
such records search and reproduction reimbursement policies as |
the Financial Institution may have in place). An executed copy |
of this Consent and Authorization shall be sufficient and as |
good as the original and permission is hereby granted to honor |
a photostatic or electronic copy of this Consent and |
Authorization. Disclosure is strictly limited to the |
Department identified above and no other person or entity shall |
receive my financial records pursuant to this Consent and |
Authorization. By signing this form, I agree to indemnify and |
hold the Financial Institution harmless from any and all |
claims, demands, and losses, including reasonable attorneys |
fees and expenses, arising from or incurred in its reliance on |
this Consent and Authorization. As used herein, "Customer" |
shall mean "Member" if the Financial Institution is a credit |
union.
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....................... ...................... |
(Date) (Signature of Customer)
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...................... |
...................... |
(Address of Customer)
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...................... |
(Customer's birth date) |
(month/day/year)
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The undersigned witness certifies that ................., |
known to me to be the same person whose name is subscribed as |
the customer to the foregoing Consent and Authorization, |
appeared before me and the notary public and acknowledged |
signing and delivering the instrument as his or her free and |
voluntary act for the uses and purposes therein set forth. I |
believe him or her to be of sound mind and memory. The |
undersigned witness also certifies that the witness is not an |
owner, operator, or relative of an owner or operator of a |
long-term care facility in which the customer is a patient or |
resident.
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Dated: ................. ...................... |
(Signature of Witness)
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...................... |
(Print Name of Witness)
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...................... |
...................... |
(Address of Witness)
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|
State of Illinois) |
) ss. |
County of .......)
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The undersigned, a notary public in and for the above county |
and state, certifies that .........., known to me to be the |
same person whose name is subscribed as the customer to the |
foregoing Consent and Authorization, appeared before me |
together with the witness, .........., in person and |
acknowledged signing and delivering the instrument as the free |
and voluntary act of the customer for the uses and purposes |
therein set forth.
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Dated:....................................................... |
Notary Public:............................................... |
My commission expires:.......................................
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(b) In no event shall the bank distribute the |
customer's financial records to the long-term care |
facility from which the customer seeks initial or |
continuing residency or long-term care services. |
(c) A bank providing financial records of a customer in |
good faith relying on a consent and authorization executed |
and tendered in accordance with this paragraph (20) shall |
not be liable to the customer or any other person in |
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relation to the bank's disclosure of the customer's |
financial records to the Department. The customer signing |
the consent and authorization shall indemnify and hold the |
bank harmless that relies in good faith upon the consent |
and authorization and incurs a loss because of such |
reliance. The bank recovering under this indemnification |
provision shall also be entitled to reasonable attorney's |
fees and the expenses of recovery. |
(d) A bank shall be reimbursed by the customer for all |
costs reasonably necessary and directly incurred in |
searching for, reproducing, and disclosing a customer's |
financial records required or requested to be produced |
pursuant to any consent and authorization executed under |
this paragraph (20). The requested financial records shall |
be delivered to the Department within 10 days after |
receiving a properly executed consent and authorization or |
at the earliest practicable time thereafter if the |
requested records cannot be delivered within 10 days, but |
delivery may be delayed until the final reimbursement of |
all costs is received by the bank. The bank may honor a |
photostatic or electronic copy of a properly executed |
consent and authorization. |
(e) Nothing in this paragraph (20) shall impair, |
abridge, or abrogate the right of a customer to: |
(1) directly disclose his or her financial records |
to the Department or any other person; or |
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(2) authorize his or her attorney or duly appointed |
agent to request and obtain the customer's financial |
records and disclose those financial records to the |
Department. |
(f) For purposes of this paragraph (20), "Department" |
means the Department of Human Services and the Department |
of Healthcare and Family Services or any successor |
administrative agency of either agency. |
(b)(1) For purposes of this paragraph (19) of |
subsection
(b) of Section 48.1, a "private label credit |
program" means a
credit program involving a financial |
institution and a private label
party that is used by a |
customer of the financial institution and the
private label |
party primarily for payment for goods or services
sold, |
manufactured, or distributed by a private label party.
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(2) For purposes of this paragraph (19) of subsection |
(b)
of Section 48.1, a "private label party" means, with |
respect to a
private label credit program, any of the |
following: a
retailer, a merchant, a manufacturer, a trade |
group,
or any such person's affiliate, subsidiary, member,
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agent, or service provider.
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(c) Except as otherwise provided by this Act, a bank may |
not disclose to
any person, except to the customer or his
duly |
authorized agent, any financial records or financial |
information
obtained from financial records relating to that |
customer of
that bank unless:
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(1) the customer has authorized disclosure to the |
person;
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(2) the financial records are disclosed in response to |
a lawful
subpoena, summons, warrant, citation to discover |
assets, or court order which meets the requirements
of |
subsection (d) of this Section; or
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(3) the bank is attempting to collect an obligation |
owed to the bank
and the bank complies with the provisions |
of Section 2I of the Consumer
Fraud and Deceptive Business |
Practices Act.
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(d) A bank shall disclose financial records under paragraph |
(2) of
subsection (c) of this Section under a lawful subpoena, |
summons, warrant, citation to discover assets, or
court order |
only after the bank mails a copy of the subpoena, summons, |
warrant, citation to discover assets,
or court order to the |
person establishing the relationship with the bank, if
living, |
and, otherwise his personal representative, if known, at his |
last known
address by first class mail, postage prepaid, unless |
the bank is specifically
prohibited from notifying the person |
by order of court or by applicable State
or federal law. A bank |
shall not mail a copy of a subpoena to any person
pursuant to |
this subsection if the subpoena was issued by a grand jury |
under
the Statewide Grand Jury Act.
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(e) Any officer or employee of a bank who knowingly and
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willfully furnishes financial records in violation of this |
Section is
guilty of a business offense and, upon conviction, |
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shall be fined not
more than $1,000.
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(f) Any person who knowingly and willfully induces or |
attempts to
induce any officer or employee of a bank to |
disclose financial
records in violation of this Section is |
guilty of a business offense
and, upon conviction, shall be |
fined not more than $1,000.
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(g) A bank shall be reimbursed for costs that are |
reasonably necessary
and that have been directly incurred in |
searching for, reproducing, or
transporting books, papers, |
records, or other data of a customer required or
requested to |
be produced pursuant to a lawful subpoena, summons, warrant, |
citation to discover assets, or
court order. The Commissioner |
shall determine the rates and conditions
under which payment |
may be made.
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(Source: P.A. 99-143, eff. 7-27-15; 100-22, eff. 1-1-18.)
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Section 10. The Savings Bank Act is amended by changing |
Section 4013 as follows:
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(205 ILCS 205/4013) (from Ch. 17, par. 7304-13)
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Sec. 4013. Access to books and records; communication with |
members
and shareholders. |
(a) Every member or shareholder shall have the right to |
inspect books
and records of the savings bank that pertain to |
his accounts. Otherwise,
the right of inspection and |
examination of the books and records shall be
limited as |
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provided in this Act, and no other person shall have access to
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the books and records nor shall be entitled to a list of the |
members or
shareholders.
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(b) For the purpose of this Section, the term "financial |
records" means
any original, any copy, or any summary of (1) a |
document granting signature
authority over a deposit or |
account; (2) a statement, ledger card, or other
record on any |
deposit or account that shows each transaction in or with
|
respect to that account; (3) a check, draft, or money order |
drawn on a
savings bank or issued and payable by a savings |
bank; or (4) any other item
containing information pertaining |
to any relationship established in the
ordinary course of a |
savings bank's business between a savings bank and
its |
customer, including financial statements or other financial |
information
provided by the member or shareholder.
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(c) This Section does not prohibit:
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(1) The preparation, examination, handling, or |
maintenance of any
financial records by any officer, |
employee, or agent of a savings bank
having custody of |
records or examination of records by a certified public
|
accountant engaged by the savings bank to perform an |
independent audit.
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(2) The examination of any financial records by, or the |
furnishing of
financial records by a savings bank to, any |
officer, employee, or agent of
the Commissioner of Banks |
and Real Estate or the federal depository
institution |
|
regulator for use
solely in
the exercise of his duties as |
an officer, employee, or agent.
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(3) The publication of data furnished from financial |
records relating
to members or holders of capital where the |
data cannot be identified to any
particular member, |
shareholder, or account.
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(4) The making of reports or returns required under |
Chapter 61 of the
Internal Revenue Code of 1986.
|
(5) Furnishing information concerning the dishonor of |
any negotiable
instrument permitted to be disclosed under |
the Uniform Commercial Code.
|
(6) The exchange in the regular course of business of |
(i) credit
information between a savings bank and other |
savings banks or financial
institutions or commercial |
enterprises, directly or through a consumer
reporting |
agency
or (ii) financial records or information derived |
from financial records
between a savings bank and other |
savings banks or financial institutions or
commercial |
enterprises for the purpose of conducting due diligence |
pursuant to
a purchase or sale involving the savings bank |
or assets or liabilities of the
savings bank.
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(7) The furnishing of information to the appropriate |
law enforcement
authorities where the savings bank |
reasonably believes it has been the
victim of a crime.
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(8) The furnishing of information pursuant to the |
Revised Uniform Unclaimed Property Act.
|
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(9) The furnishing of information pursuant to the |
Illinois Income Tax
Act
and the Illinois Estate and |
Generation-Skipping Transfer Tax Act.
|
(10) The furnishing of information pursuant to the |
federal Currency
and Foreign Transactions Reporting Act, |
(Title 31, United States Code,
Section 1051 et seq.).
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(11) The furnishing of information pursuant to any |
other statute which
by its terms or by regulations |
promulgated thereunder requires the
disclosure of |
financial records other than by subpoena, summons, |
warrant, or
court order.
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(12) The furnishing of information in accordance with |
the federal
Personal Responsibility and Work Opportunity |
Reconciliation Act of 1996.
Any savings bank governed by |
this Act shall enter into an agreement for data
exchanges |
with a State agency provided the State agency
pays to the |
savings bank a reasonable fee not to exceed its
actual cost |
incurred. A savings bank
providing
information in |
accordance with this item shall not be liable to any |
account
holder or other person for any disclosure of |
information to a State agency, for
encumbering or |
surrendering any assets held by the savings bank in |
response to
a lien
or order to withhold and deliver issued |
by a State agency, or for any other
action taken pursuant |
to this item, including individual or mechanical errors,
|
provided the action does not constitute gross negligence or |
|
willful misconduct.
A savings bank shall have no obligation |
to hold, encumber, or surrender
assets until
it has been |
served with a subpoena, summons, warrant, court or |
administrative
order,
lien, or levy.
|
(13) The furnishing of information to law enforcement |
authorities, the
Illinois Department on
Aging and its |
regional administrative and provider agencies, the |
Department of
Human Services Office
of Inspector General, |
or public guardians: (i) upon subpoena by the investigatory |
entity or the guardian, or (ii) if there is suspicion by |
the savings bank that a
customer who is an elderly
person |
or person with a disability has been or may become the |
victim of financial exploitation.
For the purposes of this
|
item (13), the term: (i) "elderly person" means a person |
who is 60 or more
years of age, (ii) "person with a |
disability" means a person who has or reasonably appears to |
the savings bank to
have a physical or mental
disability |
that impairs his or her ability to seek or obtain |
protection from or
prevent financial
exploitation, and |
(iii) "financial exploitation" means tortious or illegal |
use
of the assets or resources of
an elderly person or |
person with a disability, and includes, without |
limitation,
misappropriation of the assets or resources of |
the elderly person or person with a disability by undue |
influence, breach of fiduciary
relationship, intimidation,
|
fraud, deception, extortion, or the use of assets or |
|
resources in any manner
contrary to law. A savings
bank or |
person furnishing information pursuant to this item (13) |
shall be
entitled to the same rights and
protections as a |
person furnishing information under the Adult Protective |
Services Act and the Illinois
Domestic Violence Act of |
1986.
|
(14) The disclosure of financial records or |
information as necessary to
effect, administer, or enforce |
a transaction requested or authorized by the
member or |
holder of capital, or in connection with:
|
(A) servicing or processing a financial product or |
service requested or
authorized by the member or holder |
of capital;
|
(B) maintaining or servicing an account of a member |
or holder of capital
with the savings bank; or
|
(C) a proposed or actual securitization or |
secondary market sale
(including sales of servicing |
rights) related to a
transaction of a member or holder |
of capital.
|
Nothing in this item (14), however, authorizes the sale |
of the financial
records or information of a member or |
holder of capital without the consent of
the member or |
holder of capital.
|
(15) The exchange in the regular course of business of |
information between
a
savings bank and any commonly owned |
affiliate of the savings bank, subject to
the provisions of |
|
the Financial Institutions Insurance Sales Law.
|
(16) The disclosure of financial records or |
information as necessary to
protect against or prevent |
actual or potential fraud, unauthorized
transactions, |
claims, or other liability.
|
(17)(a) The disclosure of financial records or |
information
related to a private label credit program |
between a financial
institution and a private label party |
in connection
with that private label credit program. Such |
information
is limited to outstanding balance, available |
credit, payment and
performance and account history, |
product references, purchase
information,
and information |
related to the identity of the
customer.
|
(b)(1) For purposes of this paragraph (17) of |
subsection
(c) of Section 4013, a "private label credit |
program" means a
credit program involving a financial |
institution and a private label
party that is used by a |
customer of the financial institution and the
private label |
party primarily for payment for goods or services
sold, |
manufactured, or distributed by a private label party.
|
(2) For purposes of this paragraph (17) of subsection |
(c)
of Section 4013, a "private label party" means, with |
respect to a
private label credit program, any of the |
following: a
retailer, a merchant, a manufacturer, a trade |
group,
or any such person's affiliate, subsidiary, member,
|
agent, or service provider.
|
|
(18)(a) The furnishing of financial records of a |
customer to the Department to aid the Department's initial |
determination or subsequent re-determination of the |
customer's eligibility for Medicaid and Medicaid long-term |
care benefits for long-term care services, provided that |
the savings bank receives the written consent and |
authorization of the customer, which shall: |
(1) have the customer's signature notarized; |
(2) be signed by at least one witness who certifies |
that he or she believes the customer to be of sound |
mind and memory; |
(3) be tendered to the savings bank at the earliest |
practicable time following its execution, |
certification, and notarization; |
(4) specifically limit the disclosure of the |
customer's financial records to the Department; and |
(5) be in substantially the following form:
|
CUSTOMER CONSENT AND AUTHORIZATION |
FOR RELEASE OF FINANCIAL RECORDS
|
I, ......................................., hereby authorize |
(Name of Customer)
|
............................................................. |
(Name of Financial Institution)
|
|
............................................................. |
(Address of Financial Institution)
|
to disclose the following financial records:
|
any and all information concerning my deposit, savings, money |
market, certificate of deposit, individual retirement, |
retirement plan, 401(k) plan, incentive plan, employee benefit |
plan, mutual fund and loan accounts (including, but not limited |
to, any indebtedness or obligation for which I am a |
co-borrower, co-obligor, guarantor, or surety), and any and all |
other accounts in which I have an interest and any other |
information regarding me in the possession of the Financial |
Institution,
|
to the Illinois Department of Human Services or the Illinois |
Department of Healthcare and Family Services, or both ("the |
Department"), for the following purpose(s):
|
to aid in the initial determination or re-determination by the |
State of Illinois of my eligibility for Medicaid long-term care |
benefits, pursuant to applicable law.
|
I understand that this Consent and Authorization may be revoked |
by me in writing at any time before my financial records, as |
|
described above, are disclosed, and that this Consent and |
Authorization is valid until the Financial Institution |
receives my written revocation. This Consent and Authorization |
shall constitute valid authorization for the Department |
identified above to inspect all such financial records set |
forth above, and to request and receive copies of such |
financial records from the Financial Institution (subject to |
such records search and reproduction reimbursement policies as |
the Financial Institution may have in place). An executed copy |
of this Consent and Authorization shall be sufficient and as |
good as the original and permission is hereby granted to honor |
a photostatic or electronic copy of this Consent and |
Authorization. Disclosure is strictly limited to the |
Department identified above and no other person or entity shall |
receive my financial records pursuant to this Consent and |
Authorization. By signing this form, I agree to indemnify and |
hold the Financial Institution harmless from any and all |
claims, demands, and losses, including reasonable attorneys |
fees and expenses, arising from or incurred in its reliance on |
this Consent and Authorization. As used herein, "Customer" |
shall mean "Member" if the Financial Institution is a credit |
union.
|
....................... ...................... |
(Date) (Signature of Customer)
|
|
...................... |
...................... |
(Address of Customer)
|
...................... |
(Customer's birth date) |
(month/day/year)
|
The undersigned witness certifies that ................., |
known to me to be the same person whose name is subscribed as |
the customer to the foregoing Consent and Authorization, |
appeared before me and the notary public and acknowledged |
signing and delivering the instrument as his or her free and |
voluntary act for the uses and purposes therein set forth. I |
believe him or her to be of sound mind and memory. The |
undersigned witness also certifies that the witness is not an |
owner, operator, or relative of an owner or operator of a |
long-term care facility in which the customer is a patient or |
resident.
|
Dated: ................. ...................... |
(Signature of Witness)
|
...................... |
(Print Name of Witness)
|
|
...................... |
...................... |
(Address of Witness)
|
State of Illinois) |
) ss. |
County of .......)
|
The undersigned, a notary public in and for the above county |
and state, certifies that .........., known to me to be the |
same person whose name is subscribed as the customer to the |
foregoing Consent and Authorization, appeared before me |
together with the witness, .........., in person and |
acknowledged signing and delivering the instrument as the free |
and voluntary act of the customer for the uses and purposes |
therein set forth.
|
Dated:....................................................... |
Notary Public:............................................... |
My commission expires:.......................................
|
(b) In no event shall the savings bank distribute the |
customer's financial records to the long-term care |
facility from which the customer seeks initial or |
continuing residency or long-term care services. |
(c) A savings bank providing financial records of a |
|
customer in good faith relying on a consent and |
authorization executed and tendered in accordance with |
this paragraph (18) shall not be liable to the customer or |
any other person in relation to the savings bank's |
disclosure of the customer's financial records to the |
Department. The customer signing the consent and |
authorization shall indemnify and hold the savings bank |
harmless that relies in good faith upon the consent and |
authorization and incurs a loss because of such reliance. |
The savings bank recovering under this indemnification |
provision shall also be entitled to reasonable attorney's |
fees and the expenses of recovery. |
(d) A savings bank shall be reimbursed by the customer |
for all costs reasonably necessary and directly incurred in |
searching for, reproducing, and disclosing a customer's |
financial records required or requested to be produced |
pursuant to any consent and authorization executed under |
this paragraph (18). The requested financial records shall |
be delivered to the Department within 10 days after |
receiving a properly executed consent and authorization or |
at the earliest practicable time thereafter if the |
requested records cannot be delivered within 10 days, but |
delivery may be delayed until the final reimbursement of |
all costs is received by the savings bank. The savings bank |
may honor a photostatic or electronic copy of a properly |
executed consent and authorization. |
|
(e) Nothing in this paragraph (18) shall impair, |
abridge, or abrogate the right of a customer to: |
(1) directly disclose his or her financial records |
to the Department or any other person; or |
(2) authorize his or her attorney or duly appointed |
agent to request and obtain the customer's financial |
records and disclose those financial records to the |
Department. |
(f) For purposes of this paragraph (18), "Department" |
means the Department of Human Services and the Department |
of Healthcare and Family Services or any successor |
administrative agency of either agency. |
(d) A savings bank may not disclose to any person, except |
to the member
or holder of capital or his duly authorized |
agent, any financial records
relating to that member or |
shareholder of the savings bank unless:
|
(1) the member or shareholder has authorized |
disclosure to the person; or
|
(2) the financial records are disclosed in response to |
a lawful
subpoena, summons, warrant, citation to discover |
assets, or court order that meets the requirements of
|
subsection (e) of this Section.
|
(e) A savings bank shall disclose financial records under |
subsection (d)
of this Section pursuant to a lawful subpoena, |
summons, warrant, citation to discover assets, or court
order |
only after the savings bank mails a copy of the subpoena, |
|
summons,
warrant, citation to discover assets, or court order |
to the person establishing the relationship with
the savings |
bank, if living, and otherwise, his personal representative, if
|
known, at his last known address by first class mail, postage |
prepaid,
unless the savings bank is specifically prohibited |
from notifying the
person by order of court.
|
(f) Any officer or employee of a savings bank who knowingly |
and
willfully furnishes financial records in violation of this |
Section is
guilty of a business offense and, upon conviction, |
shall be fined not
more than $1,000.
|
(g) Any person who knowingly and willfully induces or |
attempts to
induce any officer or employee of a savings bank to |
disclose financial
records in violation of this Section is |
guilty of a business offense and,
upon conviction, shall be |
fined not more than $1,000.
|
(h) If any member or shareholder desires to communicate |
with the other
members or shareholders of the savings bank with |
reference to any question
pending or to be presented at an |
annual or special meeting, the savings
bank shall give that |
person, upon request, a statement of the approximate
number of |
members or shareholders entitled to vote at the meeting and an
|
estimate of the cost of preparing and mailing the |
communication. The
requesting member shall submit the |
communication to the Commissioner
who, upon finding it to be |
appropriate and truthful, shall direct that it
be prepared and |
mailed to the members upon the requesting member's or
|
|
shareholder's payment or adequate provision for payment of the |
expenses of
preparation and mailing.
|
(i) A savings bank shall be reimbursed for costs that are |
necessary and
that have been directly incurred in searching |
for, reproducing, or
transporting books, papers, records, or |
other data of a customer required
to be reproduced pursuant to |
a lawful subpoena, warrant, citation to discover assets, or |
court order.
|
(j) Notwithstanding the provisions of this Section, a |
savings bank may
sell or otherwise make use of lists of |
customers' names and addresses. All
other information |
regarding a customer's account is subject to the
disclosure |
provisions of this Section. At the request of any customer,
|
that customer's name and address shall be deleted from any list |
that is to
be sold or used in any other manner beyond |
identification of the customer's
accounts.
|
(Source: P.A. 99-143, eff. 7-27-15; 100-22, eff. 1-1-18; |
100-201, eff. 8-18-17.)
|
Section 15. The Illinois Credit Union Act is amended by |
changing Section 10 as follows:
|
(205 ILCS 305/10) (from Ch. 17, par. 4411)
|
Sec. 10. Credit union records; member financial records.
|
(1) A credit union shall establish and maintain books, |
records, accounting
systems and procedures which accurately |
|
reflect its operations and which
enable the Department to |
readily ascertain the true financial condition
of the credit |
union and whether it is complying with this Act.
|
(2) A photostatic or photographic reproduction of any |
credit union records
shall be admissible as evidence of |
transactions with the credit union.
|
(3)(a) For the purpose of this Section, the term "financial |
records"
means any original, any copy, or any summary of (1) a |
document granting
signature authority over an account, (2) a |
statement, ledger card or other
record on any account which |
shows each transaction in or with respect to
that account, (3) |
a check, draft or money order drawn on a financial
institution |
or other entity or issued and payable by or through a financial
|
institution or other entity, or (4) any other item containing |
information
pertaining to any relationship established in the |
ordinary course of
business between a credit union and its |
member, including financial
statements or other financial |
information provided by the member.
|
(b) This Section does not prohibit:
|
(1) The preparation, examination, handling or |
maintenance of any
financial records by any officer, |
employee or agent of a credit union
having custody of such |
records, or the examination of such records by a
certified |
public accountant engaged by the credit union to perform an
|
independent audit.
|
(2) The examination of any financial records by or the |
|
furnishing of
financial records by a credit union to any |
officer, employee or agent of
the Department, the National |
Credit Union Administration, Federal Reserve
board or any |
insurer of share accounts for use solely in the exercise of
|
his duties as an officer, employee or agent.
|
(3) The publication of data furnished from financial |
records relating
to members where the data cannot be |
identified to any particular customer
of account.
|
(4) The making of reports or returns required under |
Chapter 61 of the
Internal Revenue Code of 1954.
|
(5) Furnishing information concerning the dishonor of |
any negotiable
instrument permitted to be disclosed under |
the Uniform Commercial
Code.
|
(6) The exchange in the regular course of business
of |
(i) credit information
between a credit union and other |
credit unions or financial institutions
or commercial |
enterprises, directly or through a consumer reporting |
agency
or (ii) financial records or information derived |
from financial records
between a credit union and other |
credit unions or financial institutions or
commercial |
enterprises for
the purpose of conducting due diligence |
pursuant to a merger or a purchase or
sale of assets or |
liabilities of the credit union.
|
(7) The furnishing of information to the appropriate |
law enforcement
authorities where the credit union |
reasonably believes it has been the victim
of a crime.
|
|
(8) The furnishing of information pursuant to the |
Revised Uniform Unclaimed Property Act.
|
(9) The furnishing of information pursuant to the |
Illinois Income Tax
Act and the Illinois Estate and |
Generation-Skipping Transfer Tax Act.
|
(10) The furnishing of information pursuant to the |
federal "Currency
and Foreign Transactions Reporting Act", |
Title 31, United States Code,
Section 1051 et sequentia.
|
(11) The furnishing of information pursuant to any |
other statute which
by its terms or by regulations |
promulgated thereunder requires the disclosure
of |
financial records other than by subpoena, summons, warrant |
or court order.
|
(12) The furnishing of information in accordance with |
the federal
Personal Responsibility and Work Opportunity |
Reconciliation Act of 1996.
Any credit union governed by |
this Act shall enter into an agreement for data
exchanges |
with a State agency provided the State agency
pays to the |
credit union a reasonable fee not to exceed its
actual cost |
incurred. A credit union
providing
information in |
accordance with this item shall not be liable to any |
account
holder or other person for any disclosure of |
information to a State agency, for
encumbering or |
surrendering any assets held by the credit union in |
response to
a lien
or order to withhold and deliver issued |
by a State agency, or for any other
action taken pursuant |
|
to this item, including individual or mechanical errors,
|
provided the action does not constitute gross negligence or |
willful misconduct.
A credit union shall have no obligation |
to hold, encumber, or surrender
assets until
it has been |
served with a subpoena, summons, warrant, court or |
administrative
order, lien, or levy.
|
(13) The furnishing of information to law enforcement |
authorities, the
Illinois Department on
Aging and its |
regional administrative and provider agencies, the |
Department of
Human Services Office
of Inspector General, |
or public guardians: (i) upon subpoena by the investigatory |
entity or the guardian, or (ii) if there is suspicion by |
the credit union that a
member who is an elderly person or |
person with a disability has been or may become the victim |
of financial exploitation.
For the purposes of this
item |
(13), the term: (i) "elderly person" means a person who is |
60 or more
years of age, (ii) "person with a disability" |
means a person who has or reasonably appears to the credit |
union to
have a physical or mental
disability that impairs |
his or her ability to seek or obtain protection from or
|
prevent financial
exploitation, and (iii) "financial |
exploitation" means tortious or illegal use
of the assets |
or resources of
an elderly person or person with a |
disability, and includes, without limitation,
|
misappropriation of the elderly or
disabled person's |
assets or resources by undue influence, breach of fiduciary
|
|
relationship, intimidation,
fraud, deception, extortion, |
or the use of assets or resources in any manner
contrary to |
law. A credit
union or person furnishing information |
pursuant to this item (13) shall be
entitled to the same |
rights and
protections as a person furnishing information |
under the Adult Protective Services Act and the Illinois
|
Domestic Violence Act of 1986.
|
(14) The disclosure of financial records or |
information as necessary
to
effect, administer, or enforce |
a transaction requested or authorized by the
member, or in |
connection with:
|
(A) servicing or processing a financial product or |
service requested
or
authorized by the member;
|
(B) maintaining or servicing a member's account |
with the credit union;
or
|
(C) a proposed or actual securitization or |
secondary market sale
(including sales of servicing |
rights) related to a
transaction of a member.
|
Nothing in this item (14), however, authorizes the sale |
of the financial
records or information of a member without |
the consent of the member.
|
(15) The disclosure of financial records or |
information as necessary to
protect against or prevent |
actual or potential fraud, unauthorized
transactions, |
claims, or other liability.
|
(16)(a) The disclosure of financial records or |
|
information
related to a private label credit program |
between a financial
institution and a private label party |
in connection
with that private label credit program. Such |
information
is limited to outstanding balance, available |
credit, payment and
performance and account history, |
product references, purchase
information,
and information |
related to the identity of the
customer.
|
(b)(1) For purposes of this paragraph (16) of |
subsection
(b) of Section 10, a "private label credit |
program" means a credit
program involving a financial |
institution and a private label party
that is used by a |
customer of the financial institution and the
private label |
party primarily for payment for goods or services
sold, |
manufactured, or distributed by a private label party.
|
(2) For purposes of this paragraph (16) of subsection |
(b)
of Section 10, a "private label party" means, with |
respect to a
private label credit program, any of the |
following: a
retailer, a merchant, a manufacturer, a trade |
group,
or any such person's affiliate, subsidiary, member,
|
agent, or service provider.
|
(17)(a) The furnishing of financial records of a member |
to the Department to aid the Department's initial |
determination or subsequent re-determination of the |
member's eligibility for Medicaid and Medicaid long-term |
care benefits for long-term care services, provided that |
the credit union receives the written consent and |
|
authorization of the member, which shall: |
(1) have the member's signature notarized; |
(2) be signed by at least one witness who certifies |
that he or she believes the member to be of sound mind |
and memory; |
(3) be tendered to the credit union at the earliest |
practicable time following its execution, |
certification, and notarization; |
(4) specifically limit the disclosure of the |
member's financial records to the Department; and |
(5) be in substantially the following form:
|
CUSTOMER CONSENT AND AUTHORIZATION |
FOR RELEASE OF FINANCIAL RECORDS
|
I, ......................................., hereby authorize |
(Name of Customer)
|
............................................................. |
(Name of Financial Institution)
|
............................................................. |
(Address of Financial Institution)
|
to disclose the following financial records:
|
|
any and all information concerning my deposit, savings, money |
market, certificate of deposit, individual retirement, |
retirement plan, 401(k) plan, incentive plan, employee benefit |
plan, mutual fund and loan accounts (including, but not limited |
to, any indebtedness or obligation for which I am a |
co-borrower, co-obligor, guarantor, or surety), and any and all |
other accounts in which I have an interest and any other |
information regarding me in the possession of the Financial |
Institution,
|
to the Illinois Department of Human Services or the Illinois |
Department of Healthcare and Family Services, or both ("the |
Department"), for the following purpose(s):
|
to aid in the initial determination or re-determination by the |
State of Illinois of my eligibility for Medicaid long-term care |
benefits, pursuant to applicable law.
|
I understand that this Consent and Authorization may be revoked |
by me in writing at any time before my financial records, as |
described above, are disclosed, and that this Consent and |
Authorization is valid until the Financial Institution |
receives my written revocation. This Consent and Authorization |
shall constitute valid authorization for the Department |
identified above to inspect all such financial records set |
forth above, and to request and receive copies of such |
|
financial records from the Financial Institution (subject to |
such records search and reproduction reimbursement policies as |
the Financial Institution may have in place). An executed copy |
of this Consent and Authorization shall be sufficient and as |
good as the original and permission is hereby granted to honor |
a photostatic or electronic copy of this Consent and |
Authorization. Disclosure is strictly limited to the |
Department identified above and no other person or entity shall |
receive my financial records pursuant to this Consent and |
Authorization. By signing this form, I agree to indemnify and |
hold the Financial Institution harmless from any and all |
claims, demands, and losses, including reasonable attorneys |
fees and expenses, arising from or incurred in its reliance on |
this Consent and Authorization. As used herein, "Customer" |
shall mean "Member" if the Financial Institution is a credit |
union.
|
....................... ...................... |
(Date) (Signature of Customer)
|
...................... |
...................... |
(Address of Customer)
|
...................... |
(Customer's birth date) |
|
(month/day/year)
|
The undersigned witness certifies that ................., |
known to me to be the same person whose name is subscribed as |
the customer to the foregoing Consent and Authorization, |
appeared before me and the notary public and acknowledged |
signing and delivering the instrument as his or her free and |
voluntary act for the uses and purposes therein set forth. I |
believe him or her to be of sound mind and memory. The |
undersigned witness also certifies that the witness is not an |
owner, operator, or relative of an owner or operator of a |
long-term care facility in which the customer is a patient or |
resident.
|
Dated: ................. ...................... |
(Signature of Witness)
|
...................... |
(Print Name of Witness)
|
...................... |
...................... |
(Address of Witness)
|
State of Illinois) |
) ss. |
|
County of .......)
|
The undersigned, a notary public in and for the above county |
and state, certifies that .........., known to me to be the |
same person whose name is subscribed as the customer to the |
foregoing Consent and Authorization, appeared before me |
together with the witness, .........., in person and |
acknowledged signing and delivering the instrument as the free |
and voluntary act of the customer for the uses and purposes |
therein set forth.
|
Dated:....................................................... |
Notary Public:............................................... |
My commission expires:.......................................
|
(b) In no event shall the credit union distribute the |
member's financial records to the long-term care facility |
from which the member seeks initial or continuing residency |
or long-term care services. |
(c) A credit union providing financial records of a |
member in good faith relying on a consent and authorization |
executed and tendered in accordance with this subparagraph |
(17) shall not be liable to the member or any other person |
in relation to the credit union's disclosure of the |
member's financial records to the Department. The member |
signing the consent and authorization shall indemnify and |
|
hold the credit union harmless that relies in good faith |
upon the consent and authorization and incurs a loss |
because of such reliance. The credit union recovering under |
this indemnification provision shall also be entitled to |
reasonable attorney's fees and the expenses of recovery. |
(d) A credit union shall be reimbursed by the member |
for all costs reasonably necessary and directly incurred in |
searching for, reproducing, and disclosing a member's |
financial records required or requested to be produced |
pursuant to any consent and authorization executed under |
this subparagraph (17). The requested financial records |
shall be delivered to the Department within 10 days after |
receiving a properly executed consent and authorization or |
at the earliest practicable time thereafter if the |
requested records cannot be delivered within 10 days, but |
delivery may be delayed until the final reimbursement of |
all costs is received by the credit union. The credit union |
may honor a photostatic or electronic copy of a properly |
executed consent and authorization. |
(e) Nothing in this subparagraph (17) shall impair, |
abridge, or abrogate the right of a member to: |
(1) directly disclose his or her financial records |
to the Department or any other person; or |
(2) authorize his or her attorney or duly appointed |
agent to request and obtain the member's financial |
records and disclose those financial records to the |
|
Department. |
(f) For purposes of this subparagraph (17), |
"Department" means the Department of Human Services and the |
Department of Healthcare and Family Services or any |
successor administrative agency of either agency.
|
(c) Except as otherwise provided by this Act, a credit |
union may not
disclose to any person, except to the member
or |
his duly authorized agent, any financial records relating to |
that member
of the credit union unless:
|
(1) the member has authorized disclosure to the person;
|
(2) the financial records are disclosed in response to |
a lawful
subpoena,
summons, warrant, citation to discover |
assets, or court order that meets the requirements of |
subparagraph
(d) of this Section; or
|
(3) the credit union is attempting to collect an |
obligation owed to
the credit union and the credit union |
complies with the provisions of
Section 2I of the Consumer |
Fraud and Deceptive Business Practices Act.
|
(d) A credit union shall disclose financial records under |
subparagraph
(c)(2) of this Section pursuant to a lawful |
subpoena, summons, warrant, citation to discover assets, or
|
court order only after the credit union mails a copy of the |
subpoena, summons,
warrant, citation to discover assets, or |
court order to the person establishing the relationship with
|
the credit union, if living, and otherwise his personal |
representative,
if known, at his last known address by first |
|
class mail, postage prepaid
unless the credit union is |
specifically prohibited from notifying the person
by order of |
court or by applicable State or federal law. In the case
of a |
grand jury subpoena, a credit union shall not mail a copy of a |
subpoena
to any person pursuant to this subsection if the |
subpoena was issued by a grand
jury under the Statewide Grand |
Jury Act or notifying the
person would constitute a violation |
of the federal Right to Financial
Privacy Act of 1978.
|
(e)(1) Any officer or employee of a credit union who |
knowingly and
wilfully furnishes financial records in |
violation of this Section is guilty of
a business offense and |
upon conviction thereof shall be fined not more than
$1,000.
|
(2) Any person who knowingly and wilfully induces or |
attempts to induce
any officer or employee of a credit union to |
disclose financial records
in violation of this Section is |
guilty of a business offense and upon
conviction thereof shall |
be fined not more than $1,000.
|
(f) A credit union shall be reimbursed for costs which are |
reasonably
necessary and which have been directly incurred in |
searching for,
reproducing or transporting books, papers, |
records or other data of a
member required or requested to be |
produced pursuant to a lawful subpoena,
summons, warrant, |
citation to discover assets, or court order. The Secretary and |
the Director may determine, by rule, the
rates and
conditions |
under which payment shall be made. Delivery of requested |
documents
may be delayed until final reimbursement of all costs |