Bill Text: IL HB2104 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Amends the Illinois Banking Act. Makes a technical change in a Section concerning the primary powers of banks.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-04-23 - Rule 19(a) / Re-referred to Rules Committee [HB2104 Detail]
Download: Illinois-2021-HB2104-Introduced.html
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1 | AN ACT concerning regulation.
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2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Illinois Banking Act is amended by changing | |||||||||||||||||||
5 | Section 3 as follows:
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6 | (205 ILCS 5/3) (from Ch. 17, par. 309)
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7 | Sec. 3. Formation and primary powers. It shall be lawful | |||||||||||||||||||
8 | to form banks,
as herein provided, for the the purpose of | |||||||||||||||||||
9 | discount and deposit, buying and
selling exchange and doing a | |||||||||||||||||||
10 | general banking business, excepting the
issuing of bills to | |||||||||||||||||||
11 | circulate as money; and such banks shall have the power
to loan | |||||||||||||||||||
12 | money on personal and real estate security, and to accept and | |||||||||||||||||||
13 | execute
trusts upon obtaining a certificate of authority | |||||||||||||||||||
14 | pursuant to the "Corporate
Fiduciary Act", and shall be | |||||||||||||||||||
15 | subject to all of the provisions of this Act. For purposes of | |||||||||||||||||||
16 | this Section, "real estate" includes a manufactured home as | |||||||||||||||||||
17 | defined in subdivision (53) of Section 9-102 of the Uniform | |||||||||||||||||||
18 | Commercial Code that is real property as defined in Section | |||||||||||||||||||
19 | 5-35 of the Conveyance and Encumbrance of Manufactured Homes | |||||||||||||||||||
20 | as Real Property and Severance Act.
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21 | (Source: P.A. 98-749, eff. 7-16-14.)
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