Bill Title: Amends the Illinois Credit Union Act. Provides that if a credit union requests a hearing in response to an order of a fine, the Secretary of Financial and Professional Regulation shall schedule a hearing within 30 days after the request and the order shall be stayed until the final administrative order is entered. Makes changes in provisions concerning reciprocity, the powers and duties of the Secretary, powers of a credit union, and vacancies in the board of directors. Makes other changes. Also makes technical changes concerning the capitalization of "articles of incorporation," "board of directors," "credit committee," "chairman," and other terms. Effective January 1, 2012.

Sponsorship: Moderate Partisan Bill (Democrat 4-1)

Status: (Passed) 2011-07-14 - Public Act . . . . . . . . . 97-0133 [HB3050 Detail]

Text: Latest bill text (Chaptered) [HTML]

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