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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4736
Introduced 01/12/06, by Rep. Susana A Mendoza SYNOPSIS AS INTRODUCED:
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Amends the Check Printer and Check Number Act. Provides that, as used in the Act, "financial institution" includes any federally chartered commercial bank, savings bank, savings and loan association, or credit union organized under the laws of the United States and operating in this State (now, organized and operated in this State under the laws of the United States). Effective immediately.
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A BILL FOR
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HB4736 |
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LRB094 17057 MKM 52339 b |
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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 Check Printer and Check Number Act is |
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| amended by changing Section 5 as follows:
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| (205 ILCS 690/5)
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| Sec. 5. Definitions. For the purposes of this Act:
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| "Commissioner" means the Commissioner of Banks and Real |
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| Estate.
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| "Consumer-deposit account" means a demand or other similar |
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| deposit
account such as a checking, negotiable order of |
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| withdrawal, money
market, savings deposit, share, or member |
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| account established and maintained by
a natural person with a |
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| financial institution and operated primarily for
personal, |
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| family, or household purposes.
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| "Financial institution" means (i) any bank subject to the |
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| Illinois
Banking
Act, any savings bank subject to the Savings |
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| Bank Act, any savings and
loan association subject to the |
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| Illinois Savings and Loan Act of 1985, or any
credit union |
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| subject to the Illinois Credit Union Act; (ii) any
federally |
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| chartered commercial bank, savings bank, savings and loan
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| association, or credit union organized and operated in this |
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| State under the
laws of the United
States and operating in this |
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| State; and (iii) any business corporation, limited liability |
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| company,
business trust, partnership, joint venture, or other |
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| entity that is directly or
indirectly at least 50% owned by or |
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| commonly owned with a financial
institution.
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| "Check" means a writing that complies with the requirements |
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| of Section
3-104 of the Uniform Commercial Code.
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| "Person" means any natural person or his legal |
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| representative,
partnership, corporation, company, trust, |
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| business entity, or association.
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