IL HB5497 | 2017-2018 | 100th General Assembly

Status

Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: Enrolled on May 21 2018 - 75% progression
Action: 2018-06-19 - Sent to the Governor
Text: Latest bill text (Enrolled) [HTML]

Summary

Amends the Illinois Credit Union Act. Provides that a credit union may furnish the financial records of a member to an appropriate law enforcement authority upon written request from the law enforcement authority explaining a reasonable suspicion of an imminent threat to the personal security and safety of a member exists. Provides that a supervisory committee of a credit union with assets of $10,000,000 or more shall engage a certified public accountant or certified public accounting firm licensed by the Department of Financial and Professional Regulation to perform an annual external independent audit. Provides that a supervisory committee of a credit union with assets of $5,000,000 or more but less than $10,000,000 shall engage a certified public accountant or certified public accounting firm licensed by the Department to perform an annual external independent audit or an agreed-upon procedures report. Provides that the external independent audit report or agreed upon procedures report shall be delivered to the Secretary of Financial and Professional Regulation no later than 120 days after the end of the calendar or fiscal year. Provides that funds not used in loans to the credit union's members may be invested to aid in the credit union's management or in the purchase and assumption of assets held by other financial institutions. Makes other changes. Effective immediately.

Tracking Information

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Title

CREDIT UNION-AUDIT/EMAIL

Sponsors


Roll Calls

2018-05-21 - Senate - Third Reading in Senate (Y: 47 N: 0 NV: 12 Abs: 0) [PASS]
2018-04-23 - House - Third Reading in House (Y: 87 N: 24 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2018-06-19HouseSent to the Governor
2018-05-21HousePassed Both Houses
2018-05-21SenateThird Reading - Passed; 047-000-000
2018-05-21SenateAdded as Alternate Co-Sponsor Sen. Mattie Hunter
2018-05-15SenatePlaced on Calendar Order of 3rd Reading May 16, 2018
2018-05-15SenateSecond Reading
2018-05-09SenateAdded as Alternate Chief Co-Sponsor Sen. Cristina Castro
2018-05-09SenatePlaced on Calendar Order of 2nd Reading May 10, 2018
2018-05-09SenateDo Pass Financial Institutions; 005-000-000
2018-05-01SenateAssigned to Financial Institutions
2018-04-24SenateReferred to Assignments
2018-04-24SenateFirst Reading
2018-04-24SenateChief Senate Sponsor Sen. John G. Mulroe
2018-04-24SenatePlaced on Calendar Order of First Reading
2018-04-24SenateArrive in Senate
2018-04-23HouseThird Reading - Short Debate - Passed 087-024-000
2018-04-23HouseAdded Chief Co-Sponsor Rep. Patricia R. Bellock
2018-04-23HouseAdded Chief Co-Sponsor Rep. Michael P. McAuliffe
2018-04-20HousePlaced on Calendar Order of 3rd Reading - Short Debate
2018-04-20HouseHouse Floor Amendment No. 1 Adopted
2018-04-20HouseSecond Reading - Short Debate
2018-04-18HouseChief Sponsor Changed to Rep. Robert Martwick
2018-03-08HouseHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 005-000-000
2018-03-08HousePlaced on Calendar 2nd Reading - Short Debate
2018-03-07HouseHouse Floor Amendment No. 1 Referred to Rules Committee
2018-03-07HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Lou Lang
2018-03-06HouseDo Pass / Short Debate Financial Institutions Committee; 008-000-000
2018-02-26HouseAssigned to Financial Institutions Committee
2018-02-16HouseReferred to Rules Committee
2018-02-16HouseFirst Reading
2018-02-16HouseFiled with the Clerk by Rep. Lou Lang

Code Citations

ChapterArticleSectionCitation TypeStatute Text
20530510Amended CodeCitation Text
20530534Amended CodeCitation Text
20530559Amended CodeCitation Text

Illinois State Sources


Bill Comments

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