Bill Text: IL HB3543 | 2015-2016 | 99th General Assembly | Engrossed

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Amends the Illinois Banking Act. Provides that the Secretary of Financial and Professional Regulation may assess reasonable receivership fees against any State bank that does not maintain insurance with the Federal Deposit Insurance Corporation. Provides that members of the State Banking Board of Illinois cease to be eligible to serve on the Board once they no longer meet the requirements of their original appointment; however a member from a State Bank shall not be disqualified solely due to a change in the bank's asset size. Amends the Savings Bank Act. Provides that savings banks and service corporations shall pay specified fees in quarterly installments. Removes a provision concerning a fee that is levied as an adjustment to the supervisory fee. Provides that the Secretary may assess reasonable receivership fees against any savings bank operating under the Act that does not maintain insurance with the Federal Deposit Insurance Corporation. Provides that if the funds in the estate of the savings bank are insufficient to cover the expenses that arise from the administration of a receivership, the Secretary may pay such expenses from the Non-insured Institutions Receivership account. Provides that members of the Board of Savings Banks cease to be eligible to serve on the Board once they no longer meet the requirements of their original appointment.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2015-07-14 - Public Act . . . . . . . . . 99-0039 [HB3543 Detail]

Download: Illinois-2015-HB3543-Engrossed.html

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AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Banking Act is amended by changing
Sections 48, 48.05, and 78 as follows:
(205 ILCS 5/48)
Sec. 48. Secretary's powers; duties. The Secretary shall
have the powers and authority, and is charged with the duties
and responsibilities designated in this Act, and a State bank
shall not be subject to any other visitorial power other than
as authorized by this Act, except those vested in the courts,
or upon prior consultation with the Secretary, a foreign bank
regulator with an appropriate supervisory interest in the
parent or affiliate of a state bank. In the performance of the
Secretary's duties:
(1) The Commissioner shall call for statements from all
State banks as provided in Section 47 at least one time
during each calendar quarter.
(2) (a) The Commissioner, as often as the Commissioner
shall deem necessary or proper, and no less frequently than
18 months following the preceding examination, shall
appoint a suitable person or persons to make an examination
of the affairs of every State bank, except that for every

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eligible State bank, as defined by regulation, the
Commissioner in lieu of the examination may accept on an
alternating basis the examination made by the eligible
State bank's appropriate federal banking agency pursuant
to Section 111 of the Federal Deposit Insurance Corporation
Improvement Act of 1991, provided the appropriate federal
banking agency has made such an examination. A person so
appointed shall not be a stockholder or officer or employee
of any bank which that person may be directed to examine,
and shall have powers to make a thorough examination into
all the affairs of the bank and in so doing to examine any
of the officers or agents or employees thereof on oath and
shall make a full and detailed report of the condition of
the bank to the Commissioner. In making the examination the
examiners shall include an examination of the affairs of
all the affiliates of the bank, as defined in subsection
(b) of Section 35.2 of this Act, or subsidiaries of the
bank as shall be necessary to disclose fully the conditions
of the subsidiaries or affiliates, the relations between
the bank and the subsidiaries or affiliates and the effect
of those relations upon the affairs of the bank, and in
connection therewith shall have power to examine any of the
officers, directors, agents, or employees of the
subsidiaries or affiliates on oath. After May 31, 1997, the
Commissioner may enter into cooperative agreements with
state regulatory authorities of other states to provide for

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examination of State bank branches in those states, and the
Commissioner may accept reports of examinations of State
bank branches from those state regulatory authorities.
These cooperative agreements may set forth the manner in
which the other state regulatory authorities may be
compensated for examinations prepared for and submitted to
the Commissioner.
(b) After May 31, 1997, the Commissioner is authorized
to examine, as often as the Commissioner shall deem
necessary or proper, branches of out-of-state banks. The
Commissioner may establish and may assess fees to be paid
to the Commissioner for examinations under this subsection
(b). The fees shall be borne by the out-of-state bank,
unless the fees are borne by the state regulatory authority
that chartered the out-of-state bank, as determined by a
cooperative agreement between the Commissioner and the
state regulatory authority that chartered the out-of-state
bank.
(2.1) Pursuant to paragraph (a) of subsection (6) of
this Section, the Secretary shall adopt rules that ensure
consistency and due process in the examination process. The
Secretary may also establish guidelines that (i) define the
scope of the examination process and (ii) clarify
examination items to be resolved. The rules, formal
guidance, interpretive letters, or opinions furnished to
State banks by the Secretary may be relied upon by the

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State banks.
(2.5) Whenever any State bank, any subsidiary or
affiliate of a State bank, or after May 31, 1997, any
branch of an out-of-state bank causes to be performed, by
contract or otherwise, any bank services for itself,
whether on or off its premises:
(a) that performance shall be subject to
examination by the Commissioner to the same extent as
if services were being performed by the bank or, after
May 31, 1997, branch of the out-of-state bank itself on
its own premises; and
(b) the bank or, after May 31, 1997, branch of the
out-of-state bank shall notify the Commissioner of the
existence of a service relationship. The notification
shall be submitted with the first statement of
condition (as required by Section 47 of this Act) due
after the making of the service contract or the
performance of the service, whichever occurs first.
The Commissioner shall be notified of each subsequent
contract in the same manner.
For purposes of this subsection (2.5), the term "bank
services" means services such as sorting and posting of
checks and deposits, computation and posting of interest
and other credits and charges, preparation and mailing of
checks, statements, notices, and similar items, or any
other clerical, bookkeeping, accounting, statistical, or

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similar functions performed for a State bank, including but
not limited to electronic data processing related to those
bank services.
(3) The expense of administering this Act, including
the expense of the examinations of State banks as provided
in this Act, shall to the extent of the amounts resulting
from the fees provided for in paragraphs (a), (a-2), and
(b) of this subsection (3) be assessed against and borne by
the State banks:
(a) Each bank shall pay to the Secretary a Call
Report Fee which shall be paid in quarterly
installments equal to one-fourth of the sum of the
annual fixed fee of $800, plus a variable fee based on
the assets shown on the quarterly statement of
condition delivered to the Secretary in accordance
with Section 47 for the preceding quarter according to
the following schedule: 16¢ per $1,000 of the first
$5,000,000 of total assets, 15¢ per $1,000 of the next
$20,000,000 of total assets, 13¢ per $1,000 of the next
$75,000,000 of total assets, 9¢ per $1,000 of the next
$400,000,000 of total assets, 7¢ per $1,000 of the next
$500,000,000 of total assets, and 5¢ per $1,000 of all
assets in excess of $1,000,000,000, of the State bank.
The Call Report Fee shall be calculated by the
Secretary and billed to the banks for remittance at the
time of the quarterly statements of condition provided

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for in Section 47. The Secretary may require payment of
the fees provided in this Section by an electronic
transfer of funds or an automatic debit of an account
of each of the State banks. In case more than one
examination of any bank is deemed by the Secretary to
be necessary in any examination frequency cycle
specified in subsection 2(a) of this Section, and is
performed at his direction, the Secretary may assess a
reasonable additional fee to recover the cost of the
additional examination; provided, however, that an
examination conducted at the request of the State
Treasurer pursuant to the Uniform Disposition of
Unclaimed Property Act shall not be deemed to be an
additional examination under this Section. In lieu of
the method and amounts set forth in this paragraph (a)
for the calculation of the Call Report Fee, the
Secretary may specify by rule that the Call Report Fees
provided by this Section may be assessed semiannually
or some other period and may provide in the rule the
formula to be used for calculating and assessing the
periodic Call Report Fees to be paid by State banks.
(a-1) If in the opinion of the Commissioner an
emergency exists or appears likely, the Commissioner
may assign an examiner or examiners to monitor the
affairs of a State bank with whatever frequency he
deems appropriate, including but not limited to a daily

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basis. The reasonable and necessary expenses of the
Commissioner during the period of the monitoring shall
be borne by the subject bank. The Commissioner shall
furnish the State bank a statement of time and expenses
if requested to do so within 30 days of the conclusion
of the monitoring period.
(a-2) On and after January 1, 1990, the reasonable
and necessary expenses of the Commissioner during
examination of the performance of electronic data
processing services under subsection (2.5) shall be
borne by the banks for which the services are provided.
An amount, based upon a fee structure prescribed by the
Commissioner, shall be paid by the banks or, after May
31, 1997, branches of out-of-state banks receiving the
electronic data processing services along with the
Call Report Fee assessed under paragraph (a) of this
subsection (3).
(a-3) After May 31, 1997, the reasonable and
necessary expenses of the Commissioner during
examination of the performance of electronic data
processing services under subsection (2.5) at or on
behalf of branches of out-of-state banks shall be borne
by the out-of-state banks, unless those expenses are
borne by the state regulatory authorities that
chartered the out-of-state banks, as determined by
cooperative agreements between the Commissioner and

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the state regulatory authorities that chartered the
out-of-state banks.
(b) "Fiscal year" for purposes of this Section 48
is defined as a period beginning July 1 of any year and
ending June 30 of the next year. The Commissioner shall
receive for each fiscal year, commencing with the
fiscal year ending June 30, 1987, a contingent fee
equal to the lesser of the aggregate of the fees paid
by all State banks under paragraph (a) of subsection
(3) for that year, or the amount, if any, whereby the
aggregate of the administration expenses, as defined
in paragraph (c), for that fiscal year exceeds the sum
of the aggregate of the fees payable by all State banks
for that year under paragraph (a) of subsection (3),
plus any amounts transferred into the Bank and Trust
Company Fund from the State Pensions Fund for that
year, plus all other amounts collected by the
Commissioner for that year under any other provision of
this Act, plus the aggregate of all fees collected for
that year by the Commissioner under the Corporate
Fiduciary Act, excluding the receivership fees
provided for in Section 5-10 of the Corporate Fiduciary
Act, and the Foreign Banking Office Act. The aggregate
amount of the contingent fee thus arrived at for any
fiscal year shall be apportioned amongst, assessed
upon, and paid by the State banks and foreign banking

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corporations, respectively, in the same proportion
that the fee of each under paragraph (a) of subsection
(3), respectively, for that year bears to the aggregate
for that year of the fees collected under paragraph (a)
of subsection (3). The aggregate amount of the
contingent fee, and the portion thereof to be assessed
upon each State bank and foreign banking corporation,
respectively, shall be determined by the Commissioner
and shall be paid by each, respectively, within 120
days of the close of the period for which the
contingent fee is computed and is payable, and the
Commissioner shall give 20 days advance notice of the
amount of the contingent fee payable by the State bank
and of the date fixed by the Commissioner for payment
of the fee.
(c) The "administration expenses" for any fiscal
year shall mean the ordinary and contingent expenses
for that year incident to making the examinations
provided for by, and for otherwise administering, this
Act, the Corporate Fiduciary Act, excluding the
expenses paid from the Corporate Fiduciary
Receivership account in the Bank and Trust Company
Fund, the Foreign Banking Office Act, the Electronic
Fund Transfer Act, and the Illinois Bank Examiners'
Education Foundation Act, including all salaries and
other compensation paid for personal services rendered

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for the State by officers or employees of the State,
including the Commissioner and the Deputy
Commissioners, communication equipment and services,
office furnishings, surety bond premiums, and travel
expenses of those officers and employees, employees,
expenditures or charges for the acquisition,
enlargement or improvement of, or for the use of, any
office space, building, or structure, or expenditures
for the maintenance thereof or for furnishing heat,
light, or power with respect thereto, all to the extent
that those expenditures are directly incidental to
such examinations or administration. The Commissioner
shall not be required by paragraphs (c) or (d-1) of
this subsection (3) to maintain in any fiscal year's
budget appropriated reserves for accrued vacation and
accrued sick leave that is required to be paid to
employees of the Commissioner upon termination of
their service with the Commissioner in an amount that
is more than is reasonably anticipated to be necessary
for any anticipated turnover in employees, whether due
to normal attrition or due to layoffs, terminations, or
resignations.
(d) The aggregate of all fees collected by the
Secretary under this Act, the Corporate Fiduciary Act,
or the Foreign Banking Office Act on and after July 1,
1979, shall be paid promptly after receipt of the same,

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accompanied by a detailed statement thereof, into the
State treasury and shall be set apart in a special fund
to be known as the "Bank and Trust Company Fund",
except as provided in paragraph (c) of subsection (11)
of this Section. All earnings received from
investments of funds in the Bank and Trust Company Fund
shall be deposited in the Bank and Trust Company Fund
and may be used for the same purposes as fees deposited
in that Fund. The amount from time to time deposited
into the Bank and Trust Company Fund shall be used: (i)
to offset the ordinary administrative expenses of the
Secretary as defined in this Section or (ii) as a
credit against fees under paragraph (d-1) of this
subsection (3). Nothing in this amendatory Act of 1979
shall prevent continuing the practice of paying
expenses involving salaries, retirement, social
security, and State-paid insurance premiums of State
officers by appropriations from the General Revenue
Fund. However, the General Revenue Fund shall be
reimbursed for those payments made on and after July 1,
1979, by an annual transfer of funds from the Bank and
Trust Company Fund. Moneys in the Bank and Trust
Company Fund may be transferred to the Professions
Indirect Cost Fund, as authorized under Section
2105-300 of the Department of Professional Regulation
Law of the Civil Administrative Code of Illinois.

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Notwithstanding provisions in the State Finance
Act, as now or hereafter amended, or any other law to
the contrary, the sum of $18,788,847 shall be
transferred from the Bank and Trust Company Fund to the
Financial Institutions Settlement of 2008 Fund on the
effective date of this amendatory Act of the 95th
General Assembly, or as soon thereafter as practical.
Notwithstanding provisions in the State Finance
Act, as now or hereafter amended, or any other law to
the contrary, the Governor may, during any fiscal year
through January 10, 2011, from time to time direct the
State Treasurer and Comptroller to transfer a
specified sum not exceeding 10% of the revenues to be
deposited into the Bank and Trust Company Fund during
that fiscal year from that Fund to the General Revenue
Fund in order to help defray the State's operating
costs for the fiscal year. Notwithstanding provisions
in the State Finance Act, as now or hereafter amended,
or any other law to the contrary, the total sum
transferred during any fiscal year through January 10,
2011, from the Bank and Trust Company Fund to the
General Revenue Fund pursuant to this provision shall
not exceed during any fiscal year 10% of the revenues
to be deposited into the Bank and Trust Company Fund
during that fiscal year. The State Treasurer and
Comptroller shall transfer the amounts designated

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under this Section as soon as may be practicable after
receiving the direction to transfer from the Governor.
(d-1) Adequate funds shall be available in the Bank
and Trust Company Fund to permit the timely payment of
administration expenses. In each fiscal year the total
administration expenses shall be deducted from the
total fees collected by the Commissioner and the
remainder transferred into the Cash Flow Reserve
Account, unless the balance of the Cash Flow Reserve
Account prior to the transfer equals or exceeds
one-fourth of the total initial appropriations from
the Bank and Trust Company Fund for the subsequent
year, in which case the remainder shall be credited to
State banks and foreign banking corporations and
applied against their fees for the subsequent year. The
amount credited to each State bank and foreign banking
corporation shall be in the same proportion as the Call
Report Fees paid by each for the year bear to the total
Call Report Fees collected for the year. If, after a
transfer to the Cash Flow Reserve Account is made or if
no remainder is available for transfer, the balance of
the Cash Flow Reserve Account is less than one-fourth
of the total initial appropriations for the subsequent
year and the amount transferred is less than 5% of the
total Call Report Fees for the year, additional amounts
needed to make the transfer equal to 5% of the total

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Call Report Fees for the year shall be apportioned
amongst, assessed upon, and paid by the State banks and
foreign banking corporations in the same proportion
that the Call Report Fees of each, respectively, for
the year bear to the total Call Report Fees collected
for the year. The additional amounts assessed shall be
transferred into the Cash Flow Reserve Account. For
purposes of this paragraph (d-1), the calculation of
the fees collected by the Commissioner shall exclude
the receivership fees provided for in Section 5-10 of
the Corporate Fiduciary Act.
(e) The Commissioner may upon request certify to
any public record in his keeping and shall have
authority to levy a reasonable charge for issuing
certifications of any public record in his keeping.
(f) In addition to fees authorized elsewhere in
this Act, the Commissioner may, in connection with a
review, approval, or provision of a service, levy a
reasonable charge to recover the cost of the review,
approval, or service.
(4) Nothing contained in this Act shall be construed to
limit the obligation relative to examinations and reports
of any State bank, deposits in which are to any extent
insured by the United States or any agency thereof, nor to
limit in any way the powers of the Commissioner with
reference to examinations and reports of that bank.

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(5) The nature and condition of the assets in or
investment of any bonus, pension, or profit sharing plan
for officers or employees of every State bank or, after May
31, 1997, branch of an out-of-state bank shall be deemed to
be included in the affairs of that State bank or branch of
an out-of-state bank subject to examination by the
Commissioner under the provisions of subsection (2) of this
Section, and if the Commissioner shall find from an
examination that the condition of or operation of the
investments or assets of the plan is unlawful, fraudulent,
or unsafe, or that any trustee has abused his trust, the
Commissioner shall, if the situation so found by the
Commissioner shall not be corrected to his satisfaction
within 60 days after the Commissioner has given notice to
the board of directors of the State bank or out-of-state
bank of his findings, report the facts to the Attorney
General who shall thereupon institute proceedings against
the State bank or out-of-state bank, the board of directors
thereof, or the trustees under such plan as the nature of
the case may require.
(6) The Commissioner shall have the power:
(a) To promulgate reasonable rules for the purpose
of administering the provisions of this Act.
(a-5) To impose conditions on any approval issued
by the Commissioner if he determines that the
conditions are necessary or appropriate. These

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conditions shall be imposed in writing and shall
continue in effect for the period prescribed by the
Commissioner.
(b) To issue orders against any person, if the
Commissioner has reasonable cause to believe that an
unsafe or unsound banking practice has occurred, is
occurring, or is about to occur, if any person has
violated, is violating, or is about to violate any law,
rule, or written agreement with the Commissioner, or
for the purpose of administering the provisions of this
Act and any rule promulgated in accordance with this
Act.
(b-1) To enter into agreements with a bank
establishing a program to correct the condition of the
bank or its practices.
(c) To appoint hearing officers to execute any of
the powers granted to the Commissioner under this
Section for the purpose of administering this Act and
any rule promulgated in accordance with this Act and
otherwise to authorize, in writing, an officer or
employee of the Office of Banks and Real Estate to
exercise his powers under this Act.
(d) To subpoena witnesses, to compel their
attendance, to administer an oath, to examine any
person under oath, and to require the production of any
relevant books, papers, accounts, and documents in the

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course of and pursuant to any investigation being
conducted, or any action being taken, by the
Commissioner in respect of any matter relating to the
duties imposed upon, or the powers vested in, the
Commissioner under the provisions of this Act or any
rule promulgated in accordance with this Act.
(e) To conduct hearings.
(7) Whenever, in the opinion of the Secretary, any
director, officer, employee, or agent of a State bank or
any subsidiary or bank holding company of the bank or,
after May 31, 1997, of any branch of an out-of-state bank
or any subsidiary or bank holding company of the bank shall
have violated any law, rule, or order relating to that bank
or any subsidiary or bank holding company of the bank,
shall have obstructed or impeded any examination or
investigation by the Secretary, shall have engaged in an
unsafe or unsound practice in conducting the business of
that bank or any subsidiary or bank holding company of the
bank, or shall have violated any law or engaged or
participated in any unsafe or unsound practice in
connection with any financial institution or other
business entity such that the character and fitness of the
director, officer, employee, or agent does not assure
reasonable promise of safe and sound operation of the State
bank, the Secretary may issue an order of removal. If, in
the opinion of the Secretary, any former director, officer,

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employee, or agent of a State bank or any subsidiary or
bank holding company of the bank, prior to the termination
of his or her service with that bank or any subsidiary or
bank holding company of the bank, violated any law, rule,
or order relating to that State bank or any subsidiary or
bank holding company of the bank, obstructed or impeded any
examination or investigation by the Secretary, engaged in
an unsafe or unsound practice in conducting the business of
that bank or any subsidiary or bank holding company of the
bank, or violated any law or engaged or participated in any
unsafe or unsound practice in connection with any financial
institution or other business entity such that the
character and fitness of the director, officer, employee,
or agent would not have assured reasonable promise of safe
and sound operation of the State bank, the Secretary may
issue an order prohibiting that person from further service
with a bank or any subsidiary or bank holding company of
the bank as a director, officer, employee, or agent. An
order issued pursuant to this subsection shall be served
upon the director, officer, employee, or agent. A copy of
the order shall be sent to each director of the bank
affected by registered mail. A copy of the order shall also
be served upon the bank of which he is a director, officer,
employee, or agent, whereupon he shall cease to be a
director, officer, employee, or agent of that bank. The
Secretary may institute a civil action against the

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director, officer, or agent of the State bank or, after May
31, 1997, of the branch of the out-of-state bank against
whom any order provided for by this subsection (7) of this
Section 48 has been issued, and against the State bank or,
after May 31, 1997, out-of-state bank, to enforce
compliance with or to enjoin any violation of the terms of
the order. Any person who has been the subject of an order
of removal or an order of prohibition issued by the
Secretary under this subsection or Section 5-6 of the
Corporate Fiduciary Act may not thereafter serve as
director, officer, employee, or agent of any State bank or
of any branch of any out-of-state bank, or of any corporate
fiduciary, as defined in Section 1-5.05 of the Corporate
Fiduciary Act, or of any other entity that is subject to
licensure or regulation by the Division of Banking unless
the Secretary has granted prior approval in writing.
For purposes of this paragraph (7), "bank holding
company" has the meaning prescribed in Section 2 of the
Illinois Bank Holding Company Act of 1957.
(8) The Commissioner may impose civil penalties of up
to $100,000 against any person for each violation of any
provision of this Act, any rule promulgated in accordance
with this Act, any order of the Commissioner, or any other
action which in the Commissioner's discretion is an unsafe
or unsound banking practice.
(9) The Commissioner may impose civil penalties of up

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to $100 against any person for the first failure to comply
with reporting requirements set forth in the report of
examination of the bank and up to $200 for the second and
subsequent failures to comply with those reporting
requirements.
(10) All final administrative decisions of the
Commissioner hereunder shall be subject to judicial review
pursuant to the provisions of the Administrative Review
Law. For matters involving administrative review, venue
shall be in either Sangamon County or Cook County.
(11) The endowment fund for the Illinois Bank
Examiners' Education Foundation shall be administered as
follows:
(a) (Blank).
(b) The Foundation is empowered to receive
voluntary contributions, gifts, grants, bequests, and
donations on behalf of the Illinois Bank Examiners'
Education Foundation from national banks and other
persons for the purpose of funding the endowment of the
Illinois Bank Examiners' Education Foundation.
(c) The aggregate of all special educational fees
collected by the Secretary and property received by the
Secretary on behalf of the Illinois Bank Examiners'
Education Foundation under this subsection (11) on or
after June 30, 1986, shall be either (i) promptly paid
after receipt of the same, accompanied by a detailed

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statement thereof, into the State Treasury and shall be
set apart in a special fund to be known as "The
Illinois Bank Examiners' Education Fund" to be
invested by either the Treasurer of the State of
Illinois in the Public Treasurers' Investment Pool or
in any other investment he is authorized to make or by
the Illinois State Board of Investment as the State
Banking Board of Illinois may direct or (ii) deposited
into an account maintained in a commercial bank or
corporate fiduciary in the name of the Illinois Bank
Examiners' Education Foundation pursuant to the order
and direction of the Board of Trustees of the Illinois
Bank Examiners' Education Foundation.
(12) (Blank).
(13) The Secretary may borrow funds from the General
Revenue Fund on behalf of the Bank and Trust Company Fund
if the Director of Banking certifies to the Governor that
there is an economic emergency affecting banking that
requires a borrowing to provide additional funds to the
Bank and Trust Company Fund. The borrowed funds shall be
paid back within 3 years and shall not exceed the total
funding appropriated to the Agency in the previous year.
(14) In addition to the fees authorized in this Act,
the Secretary may assess reasonable receivership fees
against any State bank that does not maintain insurance
with the Federal Deposit Insurance Corporation. All fees

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collected under this subsection (14) shall be paid into the
Non-insured Institutions Receivership account in the Bank
and Trust Company Fund, as established by the Secretary.
The fees assessed under this subsection (14) shall provide
for the expenses that arise from the administration of the
receivership of any such institution required to pay into
the Non-insured Institutions Receivership account, whether
pursuant to this Act, the Corporate Fiduciary Act, the
Foreign Banking Office Act, or any other Act that requires
payments into the Non-insured Institutions Receivership
account. The Secretary may establish by rule a reasonable
manner of assessing fees under this subsection (14).
(Source: P.A. 97-333, eff. 8-12-11; 98-784, eff. 7-24-14.)
(205 ILCS 5/48.05)
Sec. 48.05. Regulatory fees. For the fiscal year beginning
July 1, 2007 and every year thereafter, each state bank
regulated by the Department shall pay a regulatory fee to the
Department based upon its total assets as reflected in the most
recent quarterly report of condition shown by its year-end Call
Report at the following rates:
19.295¢ per $1,000 of the first $5,000,000 of total
assets;
18.16¢ per $1,000 of the next $20,000,000 of total
assets;
15.89¢ per $1,000 of the next $75,000,000 of total

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assets;
10.7825¢ per $1,000 of the next $400,000,000 of total
assets;
8.5125¢ per $1,000 of the next $500,000,000 of total
assets;
6.2425¢ per $1,000 of the next $19,000,000,000 of total
assets;
2.27¢ per $1,000 of the next $30,000,000,000 of total
assets;
1.135¢ per $1,000 of the next $50,000,000,000 of total
assets; and
0.5675¢ per $1,000 of all assets in excess of
$100,000,000,000 of the state bank.
(Source: P.A. 95-1047, eff. 4-6-09.)
(205 ILCS 5/78) (from Ch. 17, par. 390)
Sec. 78. Board of banks and trust companies; creation,
members, appointment. There is created a Board which shall be
known as the State Banking Board of Illinois which shall
consist of the Director of Banking, who shall be its chairman,
and 11 additional members. The Board shall be comprised of
individuals interested in the banking industry. Two members
shall be from State banks having total assets of not more than
$75,000,000 at the time of their appointment; 2 members shall
be from State banks having total assets of more than
$75,000,000, but not more than $150,000,000 at the time of

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their appointment; 2 members shall be from State banks having
total assets of more than $150,000,000, but not more than
$500,000,000 at the time of their appointment; 2 members shall
be from State banks having total assets of more than
$500,000,000, but not more than $2,000,000,000 at the time of
their appointment, and one member shall be from a State bank
having total assets of more than $2,000,000,000 at the time of
his or her appointment. There shall be 2 public members,
neither of whom shall be an officer or director of or owner,
whether directly or indirectly, of more than 5% of the
outstanding capital stock of any bank. Members of the State
Banking Board of Illinois cease to be eligible to serve on the
Board once they no longer meet the requirements of their
original appointment; however, a member from a State bank shall
not be disqualified solely due to a change in the bank's asset
size.
(Source: P.A. 96-1163, eff. 1-1-11.)
Section 10. The Savings Bank Act is amended by changing
Sections 9002.5, 10085, and 12201 as follows:
(205 ILCS 205/9002.5)
Sec. 9002.5. Regulatory fees.
(a) For the fiscal year beginning July 1, 2007 and every
year thereafter, each savings bank and each service corporation
operating under this Act shall pay in quarterly installments

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equal to one-fourth of a fixed fee of $520, plus a variable fee
based on the total assets of the savings bank or service
corporation, as shown in the quarterly report of condition, at
the following rates:
24.97¢ per $1,000 of the first $2,000,000 of total
assets;
22.70¢ per $1,000 of the next $3,000,000 of total
assets;
20.43¢ per $1,000 of the next $5,000,000 of total
assets;
17.025¢ per $1,000 of the next $15,000,000 of total
assets;
14.755¢ per $1,000 of the next $25,000,000 of total
assets;
12.485¢ per $1,000 of the next $50,000,000 of total
assets;
10.215¢ per $1,000 of the next $400,000,000 of total
assets;
6.81¢ per $1,000 of the next $500,000,000 of total
assets; and
4.54¢ per $1,000 of all total assets in excess of
$1,000,000,000 of such savings bank or service
corporation.
As used in this Section, "quarterly report of condition"
means the Report of Condition and Income (Call Report), which
the Secretary requires.

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(b) (Blank). The Secretary shall receive and there shall be
paid to the Secretary an additional fee as an adjustment to the
supervisory fee, based upon the difference between the total
assets of each savings bank and each service corporation as
shown by its financial report filed with the Secretary for the
reporting period of the calendar year ended December 31 on
which the supervisory fee was based and the total assets of
each savings bank and each service corporation as shown by its
financial report filed with the Secretary for the reporting
period of the calendar year ended December 31 in which the
quarterly payments are made according to the following
schedule:
24.97¢ per $1,000 of the first $2,000,000 of total
assets;
22.70¢ per $1,000 of the next $3,000,000 of total
assets;
20.43¢ per $1,000 of the next $5,000,000 of total
assets;
17.025¢ per $1,000 of the next $15,000,000 of total
assets;
14.755¢ per $1,000 of the next $25,000,000 of total
assets;
12.485¢ per $1,000 of the next $50,000,000 of total
assets;
10.215¢ per $1,000 of the next $400,000,000 of total
assets;

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6.81¢ per $1,000 of the next $500,000,000 of total
assets; and
4.54¢ per $1,000 of all total assets in excess of
$1,000,000,000 of such savings bank or service
corporation.
(c) The Secretary shall receive and there shall be paid to
the Secretary by each savings bank and each service corporation
a fee of $520 for each approved branch office or facility
office established under the Illinois Administrative Code. The
determination of the fees shall be made annually as of the
close of business of the prior calendar year ended December 31.
(d) The Secretary shall receive for each fiscal year,
commencing with the fiscal year ending June 30, 2014, a
contingent fee equal to the lesser of the aggregate of the fees
paid by all savings banks under subsections (a), (b), and (c)
of this Section for that year, or the amount, if any, whereby
the aggregate of the administration expenses, as defined in
subsection (c) of Section 9002.1 of this Act, for that fiscal
year exceeds the sum of the aggregate of the fees payable by
all savings banks for that year under subsections (a), (b), and
(c) of this Section, plus any amounts transferred into the
Savings Bank Regulatory Fund from the State Pensions Fund for
that year, plus all other amounts collected by the Secretary
for that year under any other provision of this Act. The
aggregate amount of the contingent fee thus arrived at for any
fiscal year shall be apportioned amongst, assessed upon, and

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paid by the savings banks, respectively, in the same proportion
that the fee of each under subsections (a), (b), and (c) of
this Section, respectively, for that year bears to the
aggregate for that year of the fees collected under subsections
(a), (b), and (c) of this Section. The aggregate amount of the
contingent fee, and the portion thereof to be assessed upon
each savings bank, respectively, shall be determined by the
Secretary and shall be paid by each, respectively, within 120
days of the close of the period for which the contingent fee is
computed and is payable, and the Secretary shall give 20 days
advance notice of the amount of the contingent fee payable by
the savings bank and of the date fixed by the Secretary for
payment of the fee.
(Source: P.A. 98-1081, eff. 1-1-15.)
(205 ILCS 205/10085)
Sec. 10085. Expenses and fees.
(a) In addition to the fees authorized in this Act, the
Secretary may assess reasonable receivership fees against any
savings bank operating under this Act that does not maintain
insurance with the Federal Deposit Insurance Corporation. All
fees collected under this subsection (a) shall be paid into the
Non-insured Institutions Receivership account in the Bank and
Trust Company Fund, as established by the Secretary. The fees
assessed under this subsection (a) shall provide for the
expenses that arise from the administration of the receivership

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of any such institution required to pay into the Non-insured
Institutions Receivership account, whether pursuant to this
Act, the Illinois Banking Act, the Corporate Fiduciary Act, the
Foreign Banking Office Act, or any other Act that requires
payments into the Non-insured Institutions Receivership
account.
(b) The Secretary may establish by rule a reasonable manner
of assessing fees under subsection (a).
(c) All expenses of a receivership, including reasonable
receiver's and attorney's fees approved by the Secretary, shall
be paid out of the assets of the savings bank. If the funds in
the estate of the savings bank are insufficient to cover the
expenses that arise from the administration of a receivership,
the Secretary may pay such expenses from the Non-insured
Institutions Receivership account. All expenses of any
preliminary or other examination into the condition of any such
savings bank or receivership and all expenses incident to and
in connection with the possession and control of the bank and
its assets for the purpose of examination, reorganization, or
liquidation through receivership shall be paid out of the
assets of the savings bank; if such funds are insufficient, the
Secretary may pay such expenses from the Non-insured
Institutions Receivership account. The payment authorized
under this subsection (c) Section may be made by the Secretary
with moneys and property of the bank in his or her possession
and control and shall have priority over all claims.

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(Source: P.A. 96-1365, eff. 7-28-10.)
(205 ILCS 205/12201)
Sec. 12201. Board of Savings Banks; appointment. The Board
of Savings Bank is established pursuant to Section 12104 of
this Act. The Board of Savings Banks shall be composed of the
Director of Banking, who shall be its chairperson and have the
power to vote, and 7 persons appointed by the Governor. Two of
the 7 persons appointed by the Governor shall represent the
public interest and the remainder shall have been engaged
actively in savings bank or savings and loan management in this
State for at least 5 years immediately prior to appointment.
Each member of the Board appointed by the Governor shall be
reimbursed for ordinary and necessary expenses incurred in
attending the meetings of the Board. Members, excluding the
chairperson, shall be appointed for 4-year terms to expire on
the third Monday in January. Except as otherwise provided in
this Section, members of the Board shall serve until their
respective successors are appointed and qualified. A member who
tenders a written resignation shall serve only until the
resignation is accepted by the chairperson. A member who fails
to attend 3 consecutive Board meetings without an excused
absence shall no longer serve as a member. Members of the Board
of Savings Banks cease to be eligible to serve on the Board
once they no longer meet the requirements of their original
appointment. The Governor shall fill any vacancy by the

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appointment of a member for the unexpired term in the same
manner as in the making of original appointments.
(Source: P.A. 98-1081, eff. 1-1-15.)