Bill Text: IL SB0331 | 2017-2018 | 100th General Assembly | Engrossed


Bill Title: Amends the Carbon Dioxide Transportation and Sequestration Act. Makes a technical change in a Section concerning the short title.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed) 2017-10-24 - Referred to Rules Committee [SB0331 Detail]

Download: Illinois-2017-SB0331-Engrossed.html



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1 AN ACT concerning regulation.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Electronic Fund Transfer Act is amended by
5changing Section 30 as follows:
6 (205 ILCS 616/30)
7 Sec. 30. Acceptance of deposits.
8 (A) No terminal that accepts deposits of funds to an
9account may be established or owned in this State except by (a)
10a bank established under the laws of this or any other state or
11established under the laws of the United States that (1) is
12authorized by law to establish a branch in this State or (2) is
13permitted by rule of the Commissioner to establish
14deposit-taking terminals in this State in order to maintain
15parity between national banks and banks established under the
16laws of this or any other state, (b) a savings and loan
17association or savings bank established under the laws of this
18or any other state or established under the laws of the United
19States, (c) a credit union established under the laws of this
20or any other state or established under the laws of the United
21States, or (d) a licensee under the Consumer Installment Loan
22Act or the Sales Finance Agency Act.
23 (B) A person other than a financial institution or an

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1affiliate of a financial institution may establish or own, in
2whole or in part, a cash-dispensing terminal at which an
3interchange transaction may be performed, provided that the
4terminal does not accept deposits of funds to an account, and
5provided that the person establishing or owning the terminal
6must post a telephone number on the terminal for consumers to
7call to report problems, along with the Department's telephone
8number. The Commissioner or examiners appointed by the
9Commissioner shall have the authority to examine any person
10that has established or owns a terminal in this State pursuant
11to this subsection (B) if the Commissioner has received
12multiple complaints regarding one or more terminals owned by
13the person, and in the event of such an examination, the person
14shall pay the reasonable costs and expenses of the examination
15as determined by the Commissioner. The Commissioner may impose
16civil penalties of up to $100 $1,000 against any person subject
17to this subsection (B) for each the first failure to comply
18with this Act but in no event shall any person be subject to
19civil penalties under this subsection (B) of more than $1,000
20for violations of this subsection (B) and up to $10,000 for the
21second and each subsequent failure to comply with this Act. All
22moneys received by the Commissioner under this subsection (B)
23shall be paid into, and all expenses incurred by the
24Commissioner under this subsection (B) shall be paid from, the
25Bank and Trust Company Fund.
26 (C) A network operating in this State shall maintain a

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1directory of the locations of cash-dispensing terminals at
2which an interchange transaction may be performed that are
3established or owned in this State by its members and shall
4file the directory with the Commissioner within 60 days after
5the effective date of this amendatory Act of 1997 and
6thereafter once per calendar year.
7(Source: P.A. 100-5, eff. 6-30-17.)
8 Section 99. Effective date. This Act takes effect upon
9becoming law.
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