Illinois House Bill 63

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March 22 2013 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Banking Act. Provides that financial institutions have 180 days (was, at least 60 but no more than 180 days) to correct capital impairments before the Commissioner may take possession and control of the bank. Provides that the Commissioner shall not extend the time period for the board of directors to correct a capital impairment for a bank that is critically undercapitalized. Provides that if the Commissioner has given notice to the board of directors requiring the bank to raise capital to correct capital impairment, the Commissioner shall only require a capital raising plan that ensures capital necessary for the bank to be adequately capitalized. Provides that the Commissioner shall not enforce or implement the provisions in a manner inconsistent with the requirements of the Federal Deposit Insurance Corporation. Effective immediately.

BANKING ACT-CAPITAL IMPAIRMENT

Rep LaShawn K. Ford

Date	Chamber	Action
2013-03-22	House	Rule 19(a) / Re-referred to Rules Committee
2013-01-30	House	Assigned to Financial Institutions Committee
2013-01-09	House	Referred to Rules Committee
2013-01-09	House	First Reading
2013-01-03	House	Prefiled with Clerk by Rep. La Shawn K. Ford

Chapter	Article	Section	Citation Type	Statute Text
205	5	51	Amended Code	Citation Text

Type	Source
Summary	http://www.ilga.gov/legislation/BillStatus.asp?DocNum=63&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	http://www.ilga.gov/legislation/98/HB/09800HB0063.htm