Illinois Senate Bill 3119 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 11 2022 - 25% progression, died in committee
Action: 2022-02-10 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Credit Union Act. Provides that an acquiring credit union shall be liable for a fee equal to 10% of the book value of the assets or liabilities, whichever is greater, of a bank that has been purchased by the credit union. Provides that the provision applies to all banks, savings banks, savings and loan associations, and credit unions chartered or holding a certificate of authority to do business under the laws of this State or any other state or under the laws of the United States. Defines "book value of the assets or liabilities of a bank".

FIN-CREDIT UNION BANK PURCHASE

Sen. Brian Stewart [R]

Date	Chamber	Action
2022-02-10	Senate	Rule 3-9(a) / Re-referred to Assignments
2022-02-10	Senate	Postponed - Financial Institutions
2022-02-01	Senate	Assigned to Financial Institutions
2022-01-11	Senate	Referred to Assignments
2022-01-11	Senate	First Reading
2022-01-11	Senate	Filed with Secretary by Sen. Brian W. Stewart

Chapter	Article	Section	Citation Type	Statute Text
205	305	12.5	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3119&GAID=16&DocTypeID=SB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/SB/10200SB3119.htm