OSMOND-BEAUBIEN-LYONS,JOSEPH-DURKIN-BUGIELSKI. (DILLARD) 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. Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 205 ILCS 5/16 Adds reference to: 205 ILCS 5/32 from Ch. 17, par. 339 205 ILCS 5/35.1 from Ch. 17, par. 344 205 ILCS 5/48.1 from Ch. 17, par. 360 205 ILCS 105/3-8 from Ch. 17, par. 3303-8 205 ILCS 205/4013 from Ch. 17, par. 7304-13 205 ILCS 305/10 from Ch. 17, par. 4411 Replaces everything after the enacting clause. Amends the Illinois Banking Act in relation to lending limits. Provides that the total liability to a state bank of a person as an accommodation party may not exceed 25% of the amount of the unimpaired capital and unimpaired surplus of the bank. Establishes the same limit with respect to the amount of unamortized investment of a bank in property leased to a person. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, and the Illinois Credit Union Act to authorize financial institutions subject to those Acts to disclose customer financial information to federal authorities pursuant to the National Security Act of 1947 and the USA PATRIOT ACT of 2001. Effective immediately. SENATE AMENDMENT NO. 2. Adds reference to: 205 ILCS 105/7-19.1 from Ch. 17, par. 3307-19.1 Amends the Illinois Savings and Loan Act of 1985 to provide that all earnings received from investments of moneys in the Savings and Residential Finance Regulatory Fund shall be deposited into that Fund and used for the same purposes as fees deposited into that Fund. SENATE AMENDMENT NO. 3. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, and the Illinois Credit Union Act to provide that those financial institutions may share customer financial information with private label credit parties pursuant to a private label credit program. Provides that a "private label credit party" may be a retailer, a merchant, a manufacturer, a trade group, or an affiliate, subsidiary, member, licensee, agent, or service provider of any of them. SENATE AMENDMENT NO. 4. Deletes reference to: 205 ILCS 5/16 Adds reference to: 205 ILCS 5/32 from Ch. 17, par. 339 205 ILCS 5/35.1 from Ch. 17, par. 344 Replaces the substance of the bill. Amends the Illinois Banking Act in relation to lending limits. Provides that the total liability to a state bank of a person as an accommodation party may not exceed 25% of the amount of the unimpaired capital and unimpaired surplus of the bank. Establishes the same limit with respect to the amount of unamortized investment of a bank in property leased to a person. SENATE AMENDMENT NO. 5. Replaces everything after the enacting clause with provisions identical to those contained in Senate Amendments Nos. 1, 2, and 3, but limits disclosure of information related to matters that involve foreign intelligence information as defined under the USA PATRIOT ACT of 2001 to foreign intelligence defined in that Act as enacted and provides that the disclosure is to be made pursuant to any lawful request. Effective immediately. FEB-16-2001 H FILED WITH CLERK FEB-16-2001 H ADDED AS A JOINT SPONSOR BEAUBIEN FEB-16-2001 H ADDED AS A JOINT SPONSOR LYONS,JOSEPH FEB-16-2001 H ADDED AS A JOINT SPONSOR DURKIN FEB-16-2001 H ADDED AS A JOINT SPONSOR BUGIELSKI FEB-16-2001 H FIRST READING FEB-16-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-21-2001 H ASSIGNED TO COMMITTEE FIN INSTIT FEB-28-2001 H DO PASS/SHORT DEBATE 018-000-000 HFIN FEB-28-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE MAR-01-2001 H SECOND READING-SHORT DEBATE MAR-01-2001 H PLCD CAL ORDER 3RD READING-SHORT DEBATE MAR-20-2001 H THIRD READING/SHORT DEBATE/PASSED 111-000-001 MAR-21-2001 S ARRIVE IN SENATE MAR-21-2001 S PLACED CALENDAR ORDER OF FIRST READING 01-03-22 MAR-21-2001 S CHIEF SPONSOR DILLARD MAR-21-2001 S FIRST READING MAR-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES APR-06-2001 S ASSIGNED TO COMMITTEE FIN INST MAY-12-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES NOV-14-2001 S ASSIGNED TO COMMITTEE FIN INST NOV-27-2001 S AMENDMENT NO. 01-FINANC. INST. S NOV-27-2001 S ADOPTED NOV-27-2001 S AMENDMENT NO. 02-FINANC. INST. S NOV-27-2001 S ADOPTED NOV-27-2001 S AMENDMENT NO. 03-FINANC. INST. S NOV-27-2001 S ADOPTED NOV-27-2001 S AMENDMENT NO. 04-FINANC. INST. S NOV-27-2001 S ADOPTED NOV-27-2001 S DO PASS AS AMENDED 007-000-000 SFIC NOV-27-2001 S PLACED ON CALENDAR ORDER OF 2ND READING NOV-27-2001 S SECOND READING NOV-27-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-11-28 NOV-28-2001 S FILED WITH SECRETARY NOV-28-2001 S AMENDMENT NO. 05-DILLARD NOV-28-2001 S AMENDMENT REFERRED TO SRUL NOV-29-2001 S AMENDMENT NO. 05-DILLARD NOV-29-2001 S BE APPROVED FOR CONSIDERATION SRUL NOV-29-2001 S RECALLED TO SECOND READING NOV-29-2001 S AMENDMENT NO. 05-DILLARD NOV-29-2001 S ADOPTED NOV-29-2001 S PLACED ON CALENDAR ORDER OF 3RD READING NOV-29-2001 S 3/5 VOTE REQUIRED NOV-29-2001 S THIRD READING - PASSED 054-000-001 NOV-29-2001 H ARRIVE IN HOUSE NOV-29-2001 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01,02,03,04,05 NOV-29-2001 H MOTION FILED CONCUR 1,2,3,4,5/OSMOND NOV-29-2001 H MOTION TO CONCUR REFERRED TO HRUL NOV-29-2001 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01,02,03,04,05 DEC-31-2001 H RE-REFERRED TO RULES COMM/RULE 19(B) RULES HRUL JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary