96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB0662


 
Introduced 2/6/2009, by Sen. John J. Cullerton
 
SYNOPSIS AS INTRODUCED:
 		







  



205 ILCS 5/3
  from Ch. 17, par. 309








    Amends the Illinois Banking Act.  Makes a technical change in a Section
concerning the primary powers of banks.
















LRB096 06717 MJR 16801 b

















 


 


A BILL FOR









 











SB0662

LRB096 06717 MJR 16801 b






1
    AN ACT concerning regulation.

 
2
    Be it enacted by the People of the State of Illinois, 
3
represented in the General Assembly: 

 
4
    Section 5. The Illinois Banking Act is amended by changing 
5
Section 3 as follows:
 



6
    (205 ILCS 5/3)  (from Ch. 17, par. 309)



7
    Sec. 3. Formation and primary powers. It shall be lawful to 
8
form banks,
as herein provided, for the
the purpose of discount 
9
and deposit, buying and
selling exchange and doing a general 
10
banking business, excepting the
issuing of bills to circulate 
11
as money; and such banks shall have the power
to loan money on 
12
personal and real estate security, and to accept and execute

13
trusts upon obtaining a certificate of authority pursuant to 
14
the "Corporate
Fiduciary Act", and shall be subject to all of 
15
the provisions of this Act.
16
(Source: P.A. 85-1402.)