Illinois · House Bill 5428 · 103rd General Assembly
BANKING-VARIOUS
HB 5428Sponsored by
Dagmara AvelarPassed one chamber, then died
IntroducedFeb 9, 2024
In committeeFeb 9, 2024
Passed the HouseMay 2, 2024
Died
To the governor
Became law
What it does
The legislature's own summary of the bill, or its official long title.
Amends the Illinois Banking Act. Makes changes to the membership of the State Banking Board of Illinois. Provides that a bank may borrow or incur an obligation and pledge assets to secure deposits. Provides that a bank may provide data processing services to a person for profit. Provides that a bank may invest in financial futures or options transactions. Provides that the board of directors of a bank may provide by…
Read the full title (357 words)
Amends the Illinois Banking Act. Makes changes to the membership of the State Banking Board of Illinois. Provides that a bank may borrow or incur an obligation and pledge assets to secure deposits. Provides that a bank may provide data processing services to a person for profit. Provides that a bank may invest in financial futures or options transactions. Provides that the board of directors of a bank may provide by resolution that stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a person who makes, or causes to be made, a false statement or false entry with intent to deceive any person or persons authorized to examine into the affairs of the bank or the subsidiary or holding company of that bank, the branch of an out-of-state bank with intent to deceive the Commissioner of Banks and Real Estate or his administrative officers in the performance of their duties under the Act shall be subject to civil penalties imposed by the Commissioner (rather than be guilty of a Class 3 felony). Provides that the Board may authorize the transfer of funds from the Bank and Trust Company Fund. Amends the Savings Bank Act. Provides that the board of directors of a savings bank may provide by resolution that members or stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a savings bank may loan funds through the purchase of fixed rate annuity contracts. Provides that a savings bank may accept deposits made by a minor and may open an account in the name of such minor and the rules and regulations of such savings bank with respect to each such deposit and account shall be as binding upon such minor as if such minor were of full age and legal capacity. Makes changes to various provisions concerning notice to allow for electronic notice. Makes other changes. Effective immediately.
Every action
49 steps, oldest first, as the legislature records them.
Show the 41 earlier steps
HouseFiled with the Clerk by Rep. Dagmara Avelar
HouseFirst Reading
CommitteeReferred to Rules Committee · House Rules
CommitteeAssigned to Financial Institutions and Licensing Committee · House Financial Institutions & Licensing
CommitteeDo Pass / Short Debate Financial Institutions and Licensing Committee; 007-001-003 · House Financial Institutions & Licensing
HousePlaced on Calendar 2nd Reading - Short Debate
HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Dagmara Avelar
CommitteeHouse Floor Amendment No. 1 Referred to Rules Committee · House Rules
HouseSecond Reading - Short Debate
HouseHeld on Calendar Order of Second Reading - Short Debate
CommitteeHouse Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee · House Financial Institutions & Licensing
CommitteeHouse Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 012-000-000 · House Financial Institutions & Licensing
HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Dagmara Avelar
CommitteeHouse Floor Amendment No. 2 Referred to Rules Committee · House Rules
CommitteeHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 005-000-000 · House Rules
CommitteeRule 19(a) / Re-referred to Rules Committee · House Rules
CommitteeHouse Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee · House Rules
CommitteeHouse Floor Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee · House Rules
CommitteeApproved for Consideration Rules Committee; 005-000-000 · House Rules
HousePlaced on Calendar 2nd Reading - Short Debate
CommitteeHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 005-000-000 · House Rules
CommitteeHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 005-000-000 · House Rules
HouseThird Reading Deadline Extended-Rule May 24, 2024
HouseHouse Floor Amendment No. 1 Adopted
HouseHouse Floor Amendment No. 2 Adopted
HousePlaced on Calendar Order of 3rd Reading - Short Debate
HouseThird Reading - Short Debate - Passed 110-000-000
HouseAdded Co-Sponsor Rep. Adam M. Niemerg
SenateArrive in Senate
SenatePlaced on Calendar Order of First Reading
SenateChief Senate Sponsor Sen. Mary Edly-Allen
SenateFirst Reading
CommitteeReferred to Assignments · Senate Assignments
CommitteeAssigned to Financial Institutions · Senate Financial Institutions
SenateRule 2-10 Committee Deadline Established As May 10, 2024
SenateAdded as Alternate Co-Sponsor Sen. Sue Rezin
SenateRule 2-10 Committee Deadline Established As May 17, 2024
SenateAlternate Chief Sponsor Changed to Sen. Cristina Castro
CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
CommitteeRe-assigned to Financial Institutions · Senate Financial Institutions
SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Cristina Castro
CommitteeSenate Committee Amendment No. 1 Referred to Assignments · Senate Assignments
SenateRule 2-10 Committee/3rd Reading Deadline Established As May 24, 2024
