Bill Text: IL HB4897 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Illinois Banking Act. Provides that, unless the bank has actual knowledge of the falsity of an allegation or assertion received by the bank relating to financial exploitation of an elderly or disabled customer, the bank is entitled to rely in good faith on such an allegation or assertion when formulating a suspicion that there might be a reportable case of financial exploitation. Defines "suspicion by the bank". Provides that, if a subpoena, summons, warrant, or other request for a customer's records is presented to the bank by an agency or department of the federal government, or by an officer, agent, or employee of such federal agency or department, a bank is not required to release records until the bank has been furnished with a written certification that the requesting agency or department has satisfied its obligations under the federal Right to Financial Privacy Act of 1978. Provides that, unless a federal law requires otherwise, the Secretary of Financial and Professional Regulation shall (rather than may) by rule prescribe periods of time for which banks operating under this Act must retain records and after the expiration of which, the bank may destroy those records. Includes within the powers of the State Banking Board of Illinois the power to review and examine bank call report fee revenue and the disbursement of the fees. Makes other changes. Amends the Promissory Note and Bank Holiday Act. Provides that, if the bank is going to be closed for no more than a half day to permit personnel to attend a funeral, visitation, or other memorial service held for a deceased officer, employee, or director of the bank, or a family member of such person, the bank need only notify the Secretary and post conspicuously in the lobby of any affected office or branch of the bank notice of the hours during which the bank will be closed. Requires the notification to the Secretary and posting of notice in the lobby of the office or branch to be accomplished not less than 24 hours in advance of the day during which such closing will occur.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB4897 Detail]

Download: Illinois-2019-HB4897-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB4897 Introduced , by Rep. Camille Y. Lilly SYNOPSIS AS INTRODUCED:
205 ILCS 5/48.1 from Ch. 17, par. 360
205 ILCS 5/48.6
205 ILCS 5/80 from Ch. 17, par. 392
205 ILCS 630/17 from Ch. 17, par. 2201
Amends the Illinois Banking Act. Provides that, unless the bank has actual knowledge of the falsity of an allegation or assertion received by the bank relating to financial exploitation of an elderly or disabled customer, the bank is entitled to rely in good faith on such an allegation or assertion when formulating a suspicion that there might be a reportable case of financial exploitation. Defines "suspicion by the bank". Provides that, if a subpoena, summons, warrant, or other request for a customer's records is presented to the bank by an agency or department of the federal government, or by an officer, agent, or employee of such federal agency or department, a bank is not required to release records until the bank has been furnished with a written certification that the requesting agency or department has satisfied its obligations under the federal Right to Financial Privacy Act of 1978. Provides that, unless a federal law requires otherwise, the Secretary of Financial and Professional Regulation shall (rather than may) by rule prescribe periods of time for which banks operating under this Act must retain records and after the expiration of which, the bank may destroy those records. Includes within the powers of the State Banking Board of Illinois the power to review and examine bank call report fee revenue and the disbursement of the fees. Makes other changes. Amends the Promissory Note and Bank Holiday Act. Provides that, if the bank is going to be closed for no more than a half day to permit personnel to attend a funeral, visitation, or other memorial service held for a deceased officer, employee, or director of the bank, or a family member of such person, the bank need only notify the Secretary and post conspicuously in the lobby of any affected office or branch of the bank notice of the hours during which the bank will be closed. Requires the notification to the Secretary and posting of notice in the lobby of the office or branch to be accomplished not less than 24 hours in advance of the day during which such closing will occur.
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A BILL FOR
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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 48.1, 48.6, and 80 as follows:
(205 ILCS 5/48.1) (from Ch. 17, par. 360)
Sec. 48.1. Customer financial records; confidentiality.
(a) For the purpose of this Section, the term "financial
records" means any original, any copy, or any summary of:
(1) a document granting signature authority over a
deposit or account;
(2) a statement, ledger card or other record on any
deposit or account, which shows each transaction in or with
respect to that account;
(3) a check, draft or money order drawn on a bank or
issued and payable by a bank; or
(4) any other item containing information pertaining
to any relationship established in the ordinary course of a
bank's business between a bank and its customer, including
financial statements or other financial information
provided by the customer.
(b) This Section does not prohibit:
(1) The preparation, examination, handling or

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maintenance of any financial records by any officer,
employee or agent of a bank having custody of the records,
or the examination of the records by a certified public
accountant engaged by the bank to perform an independent
audit.
(2) The examination of any financial records by, or the
furnishing of financial records by a bank to, any officer,
employee or agent of (i) the Commissioner of Banks and Real
Estate, (ii) after May 31, 1997, a state regulatory
authority authorized to examine a branch of a State bank
located in another state, (iii) the Comptroller of the
Currency, (iv) the Federal Reserve Board, or (v) the
Federal Deposit Insurance Corporation for use solely in the
exercise of his duties as an officer, employee, or agent.
(3) The publication of data furnished from financial
records relating to customers where the data cannot be
identified to any particular customer or account.
(4) The making of reports or returns required under
Chapter 61 of the Internal Revenue Code of 1986.
(5) Furnishing information concerning the dishonor of
any negotiable instrument permitted to be disclosed under
the Uniform Commercial Code.
(6) The exchange in the regular course of business of
(i) credit information between a bank and other banks or
financial institutions or commercial enterprises, directly
or through a consumer reporting agency or (ii) financial

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records or information derived from financial records
between a bank and other banks or financial institutions or
commercial enterprises for the purpose of conducting due
diligence pursuant to a purchase or sale involving the bank
or assets or liabilities of the bank.
(7) The furnishing of information to the appropriate
law enforcement authorities where the bank reasonably
believes it has been the victim of a crime.
(8) The furnishing of information under the Revised
Uniform Unclaimed Property Act.
(9) The furnishing of information under the Illinois
Income Tax Act and the Illinois Estate and
Generation-Skipping Transfer Tax Act.
(10) The furnishing of information under the federal
Currency and Foreign Transactions Reporting Act Title 31,
United States Code, Section 1051 et seq.
(11) The furnishing of information under any other
statute that by its terms or by regulations promulgated
thereunder requires the disclosure of financial records
other than by subpoena, summons, warrant, or court order.
(12) The furnishing of information about the existence
of an account of a person to a judgment creditor of that
person who has made a written request for that information.
(13) The exchange in the regular course of business of
information between commonly owned banks in connection
with a transaction authorized under paragraph (23) of

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Section 5 and conducted at an affiliate facility.
(14) The furnishing of information in accordance with
the federal Personal Responsibility and Work Opportunity
Reconciliation Act of 1996. Any bank governed by this Act
shall enter into an agreement for data exchanges with a
State agency provided the State agency pays to the bank a
reasonable fee not to exceed its actual cost incurred. A
bank providing information in accordance with this item
shall not be liable to any account holder or other person
for any disclosure of information to a State agency, for
encumbering or surrendering any assets held by the bank in
response to a lien or order to withhold and deliver issued
by a State agency, or for any other action taken pursuant
to this item, including individual or mechanical errors,
provided the action does not constitute gross negligence or
willful misconduct. A bank shall have no obligation to
hold, encumber, or surrender assets until it has been
served with a subpoena, summons, warrant, court or
administrative order, lien, or levy.
(15) The exchange in the regular course of business of
information between a bank and any commonly owned affiliate
of the bank, subject to the provisions of the Financial
Institutions Insurance Sales Law.
(16) The furnishing of information to law enforcement
authorities, the Illinois Department on Aging and its
regional administrative and provider agencies, the

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Department of Human Services Office of Inspector General,
or public guardians: (i) upon subpoena by the investigatory
entity or the guardian, or (ii) if there is suspicion by
the bank that a customer who is an elderly person or person
with a disability has been or may become the victim of
financial exploitation. For the purposes of this item (16),
the term: (i) "elderly person" means a person who is 60 or
more years of age, (ii) "disabled person" means a person
who has or reasonably appears to the bank to have a
physical or mental disability that impairs his or her
ability to seek or obtain protection from or prevent
financial exploitation, and (iii) "financial exploitation"
means tortious or illegal use of the assets or resources of
an elderly or disabled person, and includes, without
limitation, misappropriation of the elderly or disabled
person's assets or resources by undue influence, breach of
fiduciary relationship, intimidation, fraud, deception,
extortion, or the use of assets or resources in any manner
contrary to law, and (iv) "suspicion by the bank" means an
honest and good faith concern but does not require
investigation by the bank and does not mean proof,
certainty, or probability. A bank or person furnishing
information pursuant to this item (16) shall be entitled to
the same rights and protections as a person furnishing
information under the Adult Protective Services Act and the
Illinois Domestic Violence Act of 1986. Unless the bank has

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actual knowledge of the falsity of an allegation or
assertion received by the bank relating to financial
exploitation of an elderly or disabled customer, the bank
is entitled to rely in good faith on such an allegation or
assertion when formulating a suspicion that there might be
a reportable case of financial exploitation.
(17) The disclosure of financial records or
information as necessary to effect, administer, or enforce
a transaction requested or authorized by the customer, or
in connection with:
(A) servicing or processing a financial product or
service requested or authorized by the customer;
(B) maintaining or servicing a customer's account
with the bank; or
(C) a proposed or actual securitization or
secondary market sale (including sales of servicing
rights) related to a transaction of a customer.
Nothing in this item (17), however, authorizes the sale
of the financial records or information of a customer
without the consent of the customer.
(18) The disclosure of financial records or
information as necessary to protect against actual or
potential fraud, unauthorized transactions, claims, or
other liability.
(19)(A) The disclosure of financial records or
information related to a private label credit program

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between a financial institution and a private label party
in connection with that private label credit program. Such
information is limited to outstanding balance, available
credit, payment and performance and account history,
product references, purchase information, and information
related to the identity of the customer.
(B)(1) For purposes of this paragraph (19) of
subsection (b) of Section 48.1, a "private label credit
program" means a credit program involving a financial
institution and a private label party that is used by a
customer of the financial institution and the private label
party primarily for payment for goods or services sold,
manufactured, or distributed by a private label party.
(2) For purposes of this paragraph (19) of subsection
(b) of Section 48.1, a "private label party" means, with
respect to a private label credit program, any of the
following: a retailer, a merchant, a manufacturer, a trade
group, or any such person's affiliate, subsidiary, member,
agent, or service provider.
(20)(A) The furnishing of financial records of a
customer to the Department of Human Services or the
Department of Healthcare and Family Services, or both ("the
Department") to aid the Department's initial determination
or subsequent re-determination of the customer's
eligibility for Medicaid and Medicaid long-term care
benefits for long-term care services, provided that the

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bank receives the written consent and authorization of the
customer, which shall:
(1) have the customer's signature notarized;
(2) be signed by at least one witness who certifies
that he or she believes the customer to be of sound
mind and memory;
(3) be tendered to the bank at the earliest
practicable time following its execution,
certification, and notarization;
(4) specifically limit the disclosure of the
customer's financial records to the Department; and
(5) be in substantially the following form:
CUSTOMER CONSENT AND AUTHORIZATION
FOR RELEASE OF FINANCIAL RECORDS
I, ......................................., hereby authorize
(Name of Customer)
.............................................................
(Name of Financial Institution)
.............................................................
(Address of Financial Institution)
to disclose the following financial records:

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any and all information concerning my deposit, savings, money
market, certificate of deposit, individual retirement,
retirement plan, 401(k) plan, incentive plan, employee benefit
plan, mutual fund and loan accounts (including, but not limited
to, any indebtedness or obligation for which I am a
co-borrower, co-obligor, guarantor, or surety), and any and all
other accounts in which I have an interest and any other
information regarding me in the possession of the Financial
Institution,
to the Illinois Department of Human Services or the Illinois
Department of Healthcare and Family Services, or both ("the
Department"), for the following purpose(s):
to aid in the initial determination or re-determination by the
State of Illinois of my eligibility for Medicaid long-term care
benefits, pursuant to applicable law.
I understand that this Consent and Authorization may be revoked
by me in writing at any time before my financial records, as
described above, are disclosed, and that this Consent and
Authorization is valid until the Financial Institution
receives my written revocation. This Consent and Authorization
shall constitute valid authorization for the Department
identified above to inspect all such financial records set

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forth above, and to request and receive copies of such
financial records from the Financial Institution (subject to
such records search and reproduction reimbursement policies as
the Financial Institution may have in place). An executed copy
of this Consent and Authorization shall be sufficient and as
good as the original and permission is hereby granted to honor
a photostatic or electronic copy of this Consent and
Authorization. Disclosure is strictly limited to the
Department identified above and no other person or entity shall
receive my financial records pursuant to this Consent and
Authorization. By signing this form, I agree to indemnify and
hold the Financial Institution harmless from any and all
claims, demands, and losses, including reasonable attorneys
fees and expenses, arising from or incurred in its reliance on
this Consent and Authorization. As used herein, "Customer"
shall mean "Member" if the Financial Institution is a credit
union.
....................... ......................
(Date) (Signature of Customer)
......................
......................
(Address of Customer)
......................

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(Customer's birth date)
(month/day/year)
The undersigned witness certifies that .................,
known to me to be the same person whose name is subscribed as
the customer to the foregoing Consent and Authorization,
appeared before me and the notary public and acknowledged
signing and delivering the instrument as his or her free and
voluntary act for the uses and purposes therein set forth. I
believe him or her to be of sound mind and memory. The
undersigned witness also certifies that the witness is not an
owner, operator, or relative of an owner or operator of a
long-term care facility in which the customer is a patient or
resident.
Dated: ................. ......................
(Signature of Witness)
......................
(Print Name of Witness)
......................
......................
(Address of Witness)
State of Illinois)

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) ss.
County of .......)
The undersigned, a notary public in and for the above county
and state, certifies that .........., known to me to be the
same person whose name is subscribed as the customer to the
foregoing Consent and Authorization, appeared before me
together with the witness, .........., in person and
acknowledged signing and delivering the instrument as the free
and voluntary act of the customer for the uses and purposes
therein set forth.
Dated:.......................................................
Notary Public:...............................................
My commission expires:.......................................
(B) In no event shall the bank distribute the
customer's financial records to the long-term care
facility from which the customer seeks initial or
continuing residency or long-term care services.
(C) A bank providing financial records of a customer in
good faith relying on a consent and authorization executed
and tendered in accordance with this paragraph (20) shall
not be liable to the customer or any other person in
relation to the bank's disclosure of the customer's
financial records to the Department. The customer signing

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the consent and authorization shall indemnify and hold the
bank harmless that relies in good faith upon the consent
and authorization and incurs a loss because of such
reliance. The bank recovering under this indemnification
provision shall also be entitled to reasonable attorney's
fees and the expenses of recovery.
(D) A bank shall be reimbursed by the customer for all
costs reasonably necessary and directly incurred in
searching for, reproducing, and disclosing a customer's
financial records required or requested to be produced
pursuant to any consent and authorization executed under
this paragraph (20). The requested financial records shall
be delivered to the Department within 10 days after
receiving a properly executed consent and authorization or
at the earliest practicable time thereafter if the
requested records cannot be delivered within 10 days, but
delivery may be delayed until the final reimbursement of
all costs is received by the bank. The bank may honor a
photostatic or electronic copy of a properly executed
consent and authorization.
(E) Nothing in this paragraph (20) shall impair,
abridge, or abrogate the right of a customer to:
(1) directly disclose his or her financial records
to the Department or any other person; or
(2) authorize his or her attorney or duly appointed
agent to request and obtain the customer's financial

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records and disclose those financial records to the
Department.
(F) For purposes of this paragraph (20), "Department"
means the Department of Human Services and the Department
of Healthcare and Family Services or any successor
administrative agency of either agency.
(c) Except as otherwise provided by this Act, a bank may
not disclose to any person, except to the customer or his duly
authorized agent, any financial records or financial
information obtained from financial records relating to that
customer of that bank unless:
(1) the customer has authorized disclosure to the
person;
(2) the financial records are disclosed in response to
a lawful subpoena, summons, warrant, citation to discover
assets, or court order which meets the requirements of
subsection (d) of this Section; or
(3) the bank is attempting to collect an obligation
owed to the bank and the bank complies with the provisions
of Section 2I of the Consumer Fraud and Deceptive Business
Practices Act.
(d) A bank shall disclose financial records under paragraph
(2) of subsection (c) of this Section under a lawful subpoena,
summons, warrant, citation to discover assets, or court order
only after the bank mails a copy of the subpoena, summons,
warrant, citation to discover assets, or court order to the

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person establishing the relationship with the bank, if living,
and, otherwise his personal representative, if known, at his
last known address by first class mail, postage prepaid, unless
the bank is specifically prohibited from notifying the person
by order of court or by applicable State or federal law. A bank
shall not mail a copy of a subpoena to any person pursuant to
this subsection if the subpoena was issued by a grand jury
under the Statewide Grand Jury Act.
(d-1) If a subpoena, summons, warrant, or other request for
a customer's records is presented to the bank by an agency or
department of the federal government, or by an officer, agent,
or employee of such federal agency or department, a bank is not
required to release records until the bank has been furnished
with a written certification that the requesting agency or
department has satisfied its obligations under the federal
Right to Financial Privacy Act of 1978.
(e) Any officer or employee of a bank who knowingly and
willfully furnishes financial records in violation of this
Section is guilty of a business offense and, upon conviction,
shall be fined not more than $1,000.
(f) Any person who knowingly and willfully induces or
attempts to induce any officer or employee of a bank to
disclose financial records in violation of this Section is
guilty of a business offense and, upon conviction, shall be
fined not more than $1,000.
(g) A bank shall be reimbursed for costs that are

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reasonably necessary and that have been directly incurred in
searching for, reproducing, or transporting books, papers,
records, or other data required or requested to be produced
pursuant to a lawful subpoena, summons, warrant, citation to
discover assets, or court order. The Commissioner shall
determine the rates and conditions under which payment may be
made.
(Source: P.A. 100-22, eff. 1-1-18; 100-664, eff. 1-1-19;
100-888, eff. 8-14-18; 101-81, eff. 7-12-19.)
(205 ILCS 5/48.6)
Sec. 48.6. Retention of records. Unless a federal law
requires otherwise, the Secretary shall Commissioner may by
rule prescribe periods of time for which banks operating under
this Act must retain records and after the expiration of which,
the bank may destroy those records. No liability shall accrue
against the bank, the Secretary Commissioner, or this State for
the destruction of records according to rules of the Secretary
adopted Commissioner promulgated under the authority of this
Section. In any cause or proceeding in which any records may be
called in question or be demanded by any bank, a showing of the
expiration of the period so prescribed shall be sufficient
excuse for failure to produce them.
(Source: P.A. 91-929, eff. 12-15-00.)
(205 ILCS 5/80) (from Ch. 17, par. 392)

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Sec. 80. Board; powers. The Board shall have the following
powers in addition to any others that may be granted to it by
law:
(a) (Blank).
(b) To review, consider, and make recommendations to the
Director of Banking upon any banking matters.
(c) (Blank).
(d) (Blank).
(e) To review, consider, and submit to the Director of
Banking and to the Governor proposals for amendments to this
Act or for changes in or additions to the administration
thereof which in the opinion of the Board are necessary or
desirable in order to assure the safe and sound conduct of the
banking business.
(f) To require the Secretary to furnish the Board space for
meetings to be held by the Board as well as to require the
Secretary to provide such clerical and technical assistance as
the Board may require.
(g) To adopt its own by-laws with respect to Board meetings
and procedures. Such by-laws shall provide that:
(i) A majority of the whole Board constitutes a quorum.
(ii) A majority of the quorum shall constitute
effective action except that a vote of a majority of the
whole Board shall be necessary for recommendations made to
the Director of Banking and to the Governor with regard to
proposed amendments to this Act or to the administrative

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practices hereunder.
(iii) The Board shall meet at least once in each
calendar year and upon the call of the Director of Banking
or a majority of the Board. The Director of Banking or a
majority of the Board may call such special or additional
meetings as may be deemed necessary or desirable.
(h) (Blank).
(i) (Blank).
(j) (Blank).
(k) (Blank).
(l) (Blank).
(m) To authorize the transfer of funds from the Illinois
Bank Examiners' Education Fund to the Bank and Trust Company
Fund. Any amount transferred shall be retransferred to the
Illinois Bank Examiners' Education Fund from the Bank and Trust
Company Fund within 3 years.
(n) To maintain and direct the investments of the Illinois
Bank Examiners' Education Fund.
(o) To evaluate various courses, programs, curricula, and
schools of continuing education and professional training that
are available from within the United States for State banking
department examination personnel and develop a program known as
the Illinois Bank Examiners' Education Program. The Board shall
determine which courses, programs, curricula, and schools will
be included in the Program to be funded by the Foundation.
(p) To review and examine bank call report fee revenue and

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the disbursement of the fees.
(Source: P.A. 96-1163, eff. 1-1-11.)
Section 10. The Promissory Note and Bank Holiday Act is
amended by changing Section 17 as follows:
(205 ILCS 630/17) (from Ch. 17, par. 2201)
Sec. 17. Holidays.
(a) The following days shall be legal holidays in the State
of Illinois upon which day a bank may, but is not required to,
remain closed:
the first day of January (New Year's Day);
the third Monday in January (observance of Martin Luther
King, Jr.'s birthday);
the twelfth day in February (Abraham Lincoln's birthday);
the third Monday in February (Presidents Day);
the first Monday in March (observance of Casimir Pulaski's
birthday);
the Friday preceding Easter Sunday (Good Friday);
the last Monday of May (Memorial Day);
the fourth day of July (Independence Day);
the first Monday in September (Labor Day);
the second Monday in October (Columbus Day);
the eleventh day of November (Veterans' Day);
the fourth Thursday in November (Thanksgiving Day);
the twenty-fifth day in December (Christmas Day);

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the days upon which the general elections for members of
the House of Representatives are held, and any day proclaimed
by the Governor of this State as a legal holiday. From 12
o'clock noon to 12 o'clock midnight of each Saturday shall be
considered a half holiday. In addition to such holidays and
half-holidays, a bank may select one day of the week to remain
closed, as provided in subsection (b) of this Section.
(b) Any bank doing business within this State may select
any one day of the week to remain closed on a regular basis
upon adoption of a resolution by the board of directors of such
bank designating the day selected and upon filing and
publishing a copy of such resolution as hereinafter required.
Any such resolution shall be deemed effective for the purpose
of this Section only when a copy thereof, certified by an
officer having charge of the records of such bank, is filed
with the Recorder of the county in which such bank is located
and published once each week for 3 successive weeks in a
newspaper of general circulation in such county. Such
publication shall be accomplished by, and at the expense of,
the bank, and the bank shall submit to the Commissioner of
Banks and Real Estate such evidence of the publication as the
Commissioner shall deem appropriate. Any such selection shall
remain in full force and effect until a copy of the later
resolution of the board of directors of such bank, certified in
like manner, terminating or altering any such prior selection
shall be filed and published in the same manner as such prior

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resolution.
(c) If an occasion arises when a state bank wishes to
remain closed on a particular day, other than a day on which
the bank has selected to remain closed on a regular basis as
provided in this Section, such state bank may remain closed on
such an occasion after first sending to the Commissioner a copy
of a resolution adopted by the board of directors authorizing
the bank to remain closed on such occasion and notice of the
intent to remain closed on such occasion shall be conspicuously
posted in the lobby of the main banking office and any branches
of such bank for at least 3 weeks in advance of such occasion.
Any day which any bank doing business within the State shall
select to remain closed pursuant to this Section shall, with
respect to such bank, be treated and considered as a Sunday.
Notwithstanding the notification time frames and procedures
otherwise stated in this subsection, if the bank is going to be
closed for no more than a half day to permit personnel to
attend a funeral, visitation, or other memorial service held
for a deceased officer, employee, or director of the bank, or a
family member of such person, the bank need only notify the
Secretary and post conspicuously in the lobby of any affected
office or branch of the bank notice of the hours during which
the bank will be closed. Such notification to the Secretary and
posting of notice in the lobby of the office or branch shall be
accomplished not less than 24 hours in advance of the day
during which such closing will occur.

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(d) All legal holidays, the half holidays and any day
selected by a bank doing business within the State to remain
closed, shall, for all purposes whatsoever, as regards the
presenting for payment or acceptance, the maturity and
protesting and giving of notice of the dishonor of bills of
exchange, bank checks and promissory notes and other negotiable
or commercial paper or instrument, be treated and considered as
a Sunday. When any such holidays fall on Sunday, the Monday
next following shall be held and considered such holiday. All
notes, bills, drafts, checks or other evidence of indebtedness,
falling due or maturing on either of such days, shall be deemed
as due or maturing upon the day following, and when 2 or more
of these days come together, or immediately succeeding each
other, then such instruments, paper or indebtedness shall be
deemed as due or having matured on the day following the last
of such days.
(e) Any act authorized, required or permitted to be
performed at or by or with respect to any bank doing business
within the State on a day which it has selected to remain
closed under this Section may be so performed on the next
succeeding business day and no liability or loss of rights of
any kind shall result from such delay.
(f) Nothing in this Act shall in any manner affect the
validity of, or render void or voidable, the payment,
certification, or acceptance of a check or other negotiable
instrument, or any other transaction by a bank in this State,

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because done or performed on any Saturday, Sunday, holiday, or
any day selected by a bank to remain closed, or during any time
other than regular banking hours; but no bank in this State,
which by law or custom is entitled to remain open or to close
for the whole or any part of any day selected by it to remain
open or to close, is compelled to close, or to remain open for
the transaction of business or to perform any of the acts or
transactions aforesaid except at its own option.
(Source: P.A. 89-508, eff. 7-3-96; 89-567, eff. 7-26-96; 90-14,
eff. 7-1-97.)