Bill Text: IL SB0331 | 2017-2018 | 100th General Assembly | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
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: (Passed) 2018-08-01 - Public Act . . . . . . . . . 100-0661 [SB0331 Detail]
Download: Illinois-2017-SB0331-Engrossed.html
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: (Passed) 2018-08-01 - Public Act . . . . . . . . . 100-0661 [SB0331 Detail]
Download: Illinois-2017-SB0331-Engrossed.html
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1 | AN ACT concerning regulation.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Electronic Fund Transfer Act is amended by | ||||||
5 | changing Section 30 as follows:
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6 | (205 ILCS 616/30)
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7 | Sec. 30. Acceptance of deposits.
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8 | (A) No terminal that accepts deposits of
funds to an
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9 | account may be established or owned in this State except by (a) | ||||||
10 | a bank
established under
the laws of this or any other state or | ||||||
11 | established under the laws of the United
States that (1) is | ||||||
12 | authorized by law to establish a
branch in this State or (2) is | ||||||
13 | permitted by rule of the Commissioner to
establish | ||||||
14 | deposit-taking terminals in this State in order to maintain
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15 | parity between national banks and banks
established under the | ||||||
16 | laws of this or any other state, (b) a savings and loan
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17 | association or savings bank established under the laws of this | ||||||
18 | or any other
state or established under the laws of the United | ||||||
19 | States, (c) a credit union
established under the laws of this | ||||||
20 | or any other state or established under the
laws of the United | ||||||
21 | States, or (d) a licensee under the Consumer Installment
Loan
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22 | Act or the Sales Finance Agency Act.
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23 | (B) A person other than a financial institution or an |
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1 | affiliate of a
financial institution may establish or own, in | ||||||
2 | whole or in part, a
cash-dispensing terminal at
which an | ||||||
3 | interchange transaction may be performed, provided that the | ||||||
4 | terminal
does not accept deposits of funds to an account, and | ||||||
5 | provided that the person
establishing or owning the terminal | ||||||
6 | must post a telephone number on the terminal for consumers to
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7 | call to report problems, along with the Department's telephone | ||||||
8 | number.
The Commissioner or examiners appointed by the | ||||||
9 | Commissioner shall have the
authority to examine any person | ||||||
10 | that has established or owns a terminal in this
State pursuant | ||||||
11 | to this subsection (B) if the Commissioner has received | ||||||
12 | multiple
complaints regarding one or more terminals owned by | ||||||
13 | the person, and in the
event of such an examination, the person | ||||||
14 | shall pay the reasonable costs and
expenses of the examination | ||||||
15 | as determined by the Commissioner. The
Commissioner may impose | ||||||
16 | civil penalties of up to $100 $1,000 against any person
subject | ||||||
17 | to this subsection (B) for each
the first failure to comply | ||||||
18 | with this Act but in no event shall any person be subject to | ||||||
19 | civil penalties under this subsection (B) of more than $1,000 | ||||||
20 | for violations of this subsection (B) and up to $10,000 for the | ||||||
21 | second and
each subsequent failure to comply with this Act . All | ||||||
22 | moneys received by the
Commissioner under this subsection (B) | ||||||
23 | shall be paid into, and all expenses
incurred by the | ||||||
24 | Commissioner under this subsection (B) shall be paid from, the
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25 | Bank and Trust Company Fund.
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26 | (C) A network operating in this
State shall maintain a |
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1 | directory of the locations of cash-dispensing terminals
at | ||||||
2 | which an interchange transaction may be performed that are | ||||||
3 | established or
owned in
this State by its members and shall | ||||||
4 | file the directory with the Commissioner
within 60 days after | ||||||
5 | the effective date of this amendatory Act of 1997 and
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6 | thereafter once per calendar year.
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7 | (Source: P.A. 100-5, eff. 6-30-17.)
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8 | Section 99. Effective date. This Act takes effect upon | ||||||
9 | becoming law.
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