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| Public Act 100-0005 | ||||
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AN ACT concerning regulation.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Division of Banking Act is amended by | ||||
changing Section 6 as follows:
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(20 ILCS 3205/6) (from Ch. 17, par. 456)
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Sec. 6. Duties. The Commissioner shall direct and supervise | ||||
all the
administrative and technical activities of the Office | ||||
and shall:
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(a) Apply and carry out this Act and the law and all rules | ||||
adopted in
pursuance thereof.
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(b) Appoint, subject to the provisions of the Personnel | ||||
Code, such
employees, experts, and special assistants as may be
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necessary to carry out effectively the provisions of this Act | ||||
and, if the
rate of compensation is not otherwise fixed by law, | ||||
fix their
compensation; but neither the Commissioner nor any | ||||
deputy commissioner shall be
subject to the Personnel Code.
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(c) Serve as Chairman of the State Banking Board of | ||||
Illinois.
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(d) Serve as Chairman of the Board of Trustees of the | ||||
Illinois Bank
Examiners' Education Foundation.
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(e) Issue guidelines in the form of rules or regulations | ||||
which will prohibit
discrimination by any State chartered bank | ||||
against any individual, corporation,
partnership, association | ||
or other entity because it appears in a
so-called blacklist | ||
issued by any domestic or foreign corporate or governmental
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entity.
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(f) Make an annual report to the Governor regarding the | ||
work of the Office
as the Commissioner may consider desirable | ||
or as the Governor may request.
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(g) Perform such other acts as may be requested by the | ||
State Banking
Board
of Illinois pursuant to its lawful powers | ||
and perform any other lawful act
that the
Commissioner | ||
considers to be
necessary or desirable to carry out the | ||
purposes and provisions of this Act.
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(h) Adopt, in accordance with the Illinois Administrative | ||
Procedure
Act, reasonable rules that the Commissioner deems | ||
necessary for the proper
administration and enforcement of any | ||
Act the administration of which is vested
in the Commissioner | ||
or the Office of Banks and Real Estate. | ||
(i) Work in cooperation with the Director of Aging to | ||
encourage all financial institutions regulated by the Office to | ||
participate fully in the Department on Aging's financial | ||
exploitation of the elderly intervention program.
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(j) Deposit all funds received, including civil penalties, | ||
pursuant to the Illinois Banking Act, the Corporate Fiduciary | ||
Act, and the Illinois Bank Holding Company Act of 1957, and the | ||
Check Printer and Check Number Act in the Bank and Trust | ||
Company Fund. | ||
(Source: P.A. 97-492, eff. 1-1-12.)
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Section 10. The Electronic Fund Transfer Act is amended by | ||
changing Section 30 as follows:
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(205 ILCS 616/30)
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Sec. 30. Acceptance of deposits.
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(A) No terminal that accepts deposits of
funds to an
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account may be established or owned in this State except by (a) | ||
a bank
established under
the laws of this or any other state or | ||
established under the laws of the United
States that (1) is | ||
authorized by law to establish a
branch in this State or (2) is | ||
permitted by rule of the Commissioner to
establish | ||
deposit-taking terminals in this State in order to maintain
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parity between national banks and banks
established under the | ||
laws of this or any other state, (b) a savings and loan
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association or savings bank established under the laws of this | ||
or any other
state or established under the laws of the United | ||
States, (c) a credit union
established under the laws of this | ||
or any other state or established under the
laws of the United | ||
States, or (d) a licensee under the Consumer Installment
Loan
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Act or the Sales Finance Agency Act.
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(B) A person other than a financial institution or an | ||
affiliate of a
financial institution may establish or own, in | ||
whole or in part, a
cash-dispensing terminal at
which an | ||
interchange transaction may be performed, provided that the | ||
terminal
does not accept deposits of funds to an account, and | ||
provided that the person
establishing or owning the terminal | ||
must post a telephone number on the terminal for consumers to
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call to report problems, along with the Department's telephone | ||
number. shall file a notice of establishment or
ownership of a | ||
terminal with the Commissioner, in the form prescribed by the
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Commissioner, within 60 days after the later of (a) the | ||
effective day of this
amendatory Act of 1997 or (b) the | ||
establishment of or acquisition of an
ownership interest in the | ||
terminal. Persons who own a terminal pursuant to
this | ||
subsection (B) shall thereafter file with the Commissioner a | ||
full and
accurate statement of information of ownership, in the | ||
form prescribed by the
Commissioner, once per calendar year. A | ||
person who has established or owns a
terminal pursuant to this | ||
subsection (B) shall not be required to file
subsequent notices | ||
of establishment or ownership of a terminal when
establishing | ||
or acquiring an ownership interest in additional terminals
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provided the person includes the information required by the | ||
Commissioner for
those terminals in the person's annual filing | ||
pursuant to this subsection (B).
The Commissioner or examiners | ||
appointed by the Commissioner shall have the
authority to | ||
examine any person that has established or owns a terminal in | ||
this
State pursuant to this subsection (B) if the Commissioner | ||
has received multiple
complaints regarding one or more | ||
terminals owned by the person, and in the
event of such an | ||
examination, the person shall pay the reasonable costs and
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expenses of the examination as determined by the Commissioner. | ||
The
Commissioner may impose civil penalties of up to $1,000 | ||
against any person
subject to this subsection (B) for
the first | ||
failure to comply with this Act and up to $10,000 for the | ||
second and
each subsequent failure to comply with this Act. All | ||
moneys received by the
Commissioner under this subsection (B) | ||
shall be paid into, and all expenses
incurred by the | ||
Commissioner under this subsection (B) shall be paid from, the
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Bank and Trust Company Fund.
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(C) A network operating in this
State shall maintain a | ||
directory of the locations of cash-dispensing terminals
at | ||
which an interchange transaction may be performed that are | ||
established or
owned in
this State by its members and shall | ||
file the directory with the Commissioner
within 60 days after | ||
the effective date of this amendatory Act of 1997 and
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thereafter once per calendar year.
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(Source: P.A. 89-310, eff. 1-1-96; 90-189, eff. 1-1-98.)
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(205 ILCS 690/Act rep.) | ||
Section 15. The Check Printer and Check Number Act is | ||
repealed.
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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