Bill Amendment: IL SB0331 | 2017-2018 | 100th General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: REGULATION-TECH

Status: 2018-08-01 - Public Act . . . . . . . . . 100-0661 [SB0331 Detail]

Download: Illinois-2017-SB0331-Senate_Amendment_001.html

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Sen. Antonio Mu�oz

Filed: 8/4/2017

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AMENDMENT TO SENATE BILL 331
AMENDMENT NO. ______. Amend Senate Bill 331 by replacing
everything after the enacting clause with the following:
"Section 5. The Electronic Fund Transfer Act is amended by
changing Section 30 as follows:
(205 ILCS 616/30)
Sec. 30. Acceptance of deposits.
(A) No terminal that accepts deposits of funds to an
account may be established or owned in this State except by (a)
a bank established under the laws of this or any other state or
established under the laws of the United States that (1) is
authorized by law to establish a branch in this State or (2) is
permitted by rule of the Commissioner to establish
deposit-taking terminals in this State in order to maintain
parity between national banks and banks established under the
laws of this or any other state, (b) a savings and loan

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association or savings bank established under the laws of this
or any other state or established under the laws of the United
States, (c) a credit union established under the laws of this
or any other state or established under the laws of the United
States, or (d) a licensee under the Consumer Installment Loan
Act or the Sales Finance Agency Act.
(B) A person other than a financial institution or an
affiliate of a financial institution may establish or own, in
whole or in part, a cash-dispensing terminal at which an
interchange transaction may be performed, provided that the
terminal does not accept deposits of funds to an account, and
provided that the person establishing or owning the terminal
must post a telephone number on the terminal for consumers to
call to report problems, along with the Department's telephone
number. The Commissioner or examiners appointed by the
Commissioner shall have the authority to examine any person
that has established or owns a terminal in this State pursuant
to this subsection (B) if the Commissioner has received
multiple complaints regarding one or more terminals owned by
the person, and in the event of such an examination, the person
shall pay the reasonable costs and expenses of the examination
as determined by the Commissioner. The Commissioner may impose
civil penalties of up to $100 $1,000 against any person subject
to this subsection (B) for each the first failure to comply
with this Act but in no event shall any person be subject to
civil penalties under this subsection (B) of more than $1,000

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for violations of this subsection (B) and up to $10,000 for the
second and each subsequent failure to comply with this Act. All
moneys received by the Commissioner under this subsection (B)
shall be paid into, and all expenses incurred by the
Commissioner under this subsection (B) shall be paid from, the
Bank and Trust Company Fund.
(C) A network operating in this State shall maintain a
directory of the locations of cash-dispensing terminals at
which an interchange transaction may be performed that are
established or owned in this State by its members and shall
file the directory with the Commissioner within 60 days after
the effective date of this amendatory Act of 1997 and
thereafter once per calendar year.
(Source: P.A. 100-5, eff. 6-30-17.)
Section 99. Effective date. This Act takes effect upon
becoming law.".