Illinois 100th Regular Session Status: Passed Senate

SB 746 — CORP FIDUCIARY-BANKS-OFFICE

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 100th Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Corporate Fiduciary Act. In provisions concerning office locations of corporate fiduciaries, removes the requirement that a corporate fiduciary of a bank, savings and loan association, or savings bank give notice of intent to establish a branch office to the Secretary of Financial and Professional Regulation 30 days prior to purchasing or leasing of land, building, or equipment. Replaces references to "Commissioner" with "Secretary". Effective immediately.

Bill Text

What changed in the latest version

2 added · 20 removed

Plain-language change summary

The proposed changes in Bill SB 746 simplify the process for corporate fiduciaries, such as banks and savings institutions, by eliminating the requirement to notify the Secretary of Financial and Professional Regulation 30 days before establishing a branch office. Instead, the bill updates the terminology from "Commissioner" to "Secretary" for clarity. These changes matter because they reduce administrative hurdles, allowing financial institutions to respond more quickly to business opportunities and potentially improving service to customers.

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*LRB10005754SMS15777b* SB0746 100TH GENERAL ASSEMBLY State of Illinois and 2018 SB0746 Introduced 1/30/2017, by Sen.
SB0746 Engrossed LRB100 05754 SMS 15777 b AN ACT concerning regulation.
Jason A.
Barickman SYNOPSIS AS INTRODUCED:
ILCS 620/1-7 from Ch.
17, par.
1551-7 Amends the Corporate Fiduciary Act.
In provisions concerning office locations of corporate fiduciaries, removes the requirement that a corporate fiduciary of a bank, savings and loan association, or savings bank give notice of intent to establish a branch office to the Secretary of Financial and Professional Regulation 30 days prior to purchasing or leasing of land, building, or equipment.
Replaces references to "Commissioner" with "Secretary".
Effective immediately.
LRB100 05754 SMS 15777 b A BILL FOR SB0746 LRB100 05754 SMS 15777 b AN ACT concerning regulation.
(b) Any trust company that proposes to establish a subsidiary, whether by incorporating the subsidiary or by acquiring the subsidiary, shall apply for and obtain prior approval from the Secretary Commissioner 60 days prior to commencing business by the subsidiary, if newly incorporated, or prior to its acquisition, if it is acquired, provided the SB0746 - 2 - LRB100 05754 SMS 15777 b Secretary Commissioner may specify circumstances and conditions when a trust company may directly or indirectly acquire a subsidiary without prior approval.
(b) Any trust company that proposes to establish a subsidiary, whether by incorporating the subsidiary or by acquiring the subsidiary, shall apply for and obtain prior approval from the Secretary Commissioner 60 days prior to commencing business by the subsidiary, if newly incorporated, or prior to its acquisition, if it is acquired, provided the SB0746 Engrossed - 2 - LRB100 05754 SMS 15777 b Secretary Commissioner may specify circumstances and conditions when a trust company may directly or indirectly acquire a subsidiary without prior approval.
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Action History

  1. Session Sine Die

  2. Referred to Rules Committee

  3. First Reading

  4. Chief House Sponsor Rep. C.D. Davidsmeyer

  5. Arrived in House

  6. Third Reading - Passed; 056-000-000

  7. Rule 2-10 Third Reading Deadline Established As May 31, 2017

  8. Placed on Calendar Order of 3rd Reading April 27, 2017

  9. Second Reading

  10. Placed on Calendar Order of 2nd Reading March 16, 2017

  11. Do Pass Financial Institutions; 008-000-000

  12. Assigned to Financial Institutions

  13. Referred to Assignments

  14. First Reading

  15. Filed with Secretary by Sen. Jason A. Barickman

Sponsors

  • Jason A. Barickman · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Jason A. Barickman

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 56 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 35002
Republican 7001
Democrat 14000
Total 56003
% of votes cast 95%0%0%5%
How each member voted (59)
Member Party Vote
Barickman — Yea
Bertino-Tarrant — Yea
Biss — Yea
Bivins — Yea
Bush — Yea
McConnaughay — Yea
Mulroe — Yea
Martinez — Yea
McCann — Yea
McCarter — Yea
Silverstein — Yea
Rooney — Yea
Harris — Yea
Bennett — Yea
McGuire — Yea
Landek — Yea
Link — Yea
Manar — Yea
Nybo — Yea
Radogno — Yea
Brady — Yea
Steans — Yea
Cullerton, T. — Yea
Trotter — Yea
Cullerton — Not Voting
Clayborne — Yea
Connelly — Yea
Haine — Not Voting
Muñoz — Yea
Hutchinson — Yea
Oberweis — Yea
Raoul — Yea
Righter — Yea
Sandoval — Yea
Schimpf — Yea
Althoff — Yea
Van Pelt — Yea
Bill Cunningham Democrat Yea
Cristina Castro Democrat Yea
David Koehler Democrat Yea
Don Harmon Democrat Yea
Emil Jones, III Democrat Yea
Julie A. Morrison Democrat Yea
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Yea
Laura M. Murphy Democrat Yea
Linda Holmes Democrat Yea
Mattie Hunter Democrat Yea
Michael E. Hastings Democrat Yea
Omar Aquino Democrat Yea
Steve Stadelman Democrat Yea
Chapin Rose Republican Yea
Dale Fowler Republican Yea
Dan McConchie Republican Yea
Dave Syverson Republican Not Voting
Jil Tracy Republican Yea
Neil Anderson Republican Yea
Sue Rezin Republican Yea
Travis Weaver Republican Yea

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 746 do?
Amends the Corporate Fiduciary Act. In provisions concerning office locations of corporate fiduciaries, removes the requirement that a corporate fiduciary of a bank, savings and loan association, or savings bank give notice of intent to establish a branch office to the Secretary of Financial and Professional Regulation 30 days prior to purchasing or leasing of land, building, or equipment. Replaces references to "Commissioner" with "Secretary". Effective immediately.
Who sponsors SB 746?
SB 746 is sponsored by Jason A. Barickman.
What is the current status of SB 746?
This bill died with 100th Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 746?
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Last checked for changes 3 months ago · updated continuously

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