Illinois 100th Regular Session Status: Enacted

SB 748 — BANKING-BOARDS

Last action — Public Act . . . . . . . . . 100-0783

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

This bill has been enacted into law. Introduced January 30, 2017. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    0 primary, 1 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Amends the Illinois Banking Act. Changes the number of additional members of the State Banking Board of Illinois from 11 to 12. Provides that one member of the Board shall be from a savings bank, and there shall also be an alternate member from a savings bank to attend meetings if and only if the sitting member from a savings bank is unable to attend the meeting. Changes the requirements for the 2 public members. Amends the Savings Bank Act. Repeals provisions relating to the Board of Savings Banks. Amends the Residential Mortgage License Act of 1987. Removes provisions relating to the Residential Mortgage Board. Effective immediately.

Bill Text

What changed in the latest version

28 added · 28 removed

Plain-language change summary

The bill SB 748 has undergone a labeling change, moving from "Engrossed" to "Enrolled." This change signifies that the bill has met all legislative requirements and is ready for final approval by the governor. This step is important because it indicates the bill's progress toward becoming law and gives citizens clarity on its status.

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Previous
Latest
SB0748 Engrossed LRB100 05748 SMS 15771 b AN ACT concerning regulation.
SB0748 Enrolled LRB100 05748 SMS 15771 b AN ACT concerning regulation.
, and one member shall be from a State bank having total assets of more than $2,000,000,000 at the time of SB0748 Engrossed - 2 - LRB100 05748 SMS 15771 b his or her appointment;
, and one member shall be from a State bank having total assets of more than $2,000,000,000 at the time of SB0748 Enrolled - 2 - LRB100 05748 SMS 15771 b his or her appointment;
The sitting member from a savings bank organized under the Savings Bank Act and the alternate member from a savings bank organized under the Savings Bank Act shall be appointed for the same terms of SB0748 Engrossed - 3 - LRB100 05748 SMS 15771 b office.
The sitting member from a savings bank organized under the Savings Bank Act and the alternate member from a savings bank organized under the Savings Bank Act shall be appointed for the same terms of SB0748 Enrolled - 3 - LRB100 05748 SMS 15771 b office.
Those terms include a manufactured home as defined in subdivision (53) of Section 9-102 of the Uniform Commercial Code which is real property as defined in Section 5-35 of the Conveyance and Encumbrance of SB0748 Engrossed - 4 - LRB100 05748 SMS 15771 b Manufactured Homes as Real Property and Severance Act.
Those terms include a manufactured home as defined in subdivision (53) of Section 9-102 of the Uniform Commercial Code which is real property as defined in Section 5-35 of the Conveyance and Encumbrance of SB0748 Enrolled - 4 - LRB100 05748 SMS 15771 b Manufactured Homes as Real Property and Severance Act.
(iii) SB0748 Engrossed - 5 - LRB100 05748 SMS 15771 b (blank);
(iii) SB0748 Enrolled - 5 - LRB100 05748 SMS 15771 b (blank);
(1.5) Any employee of a person or entity mentioned SB0748 Engrossed - 6 - LRB100 05748 SMS 15771 b in item (1) of this subsection, when acting for such person or entity, or any registered mortgage loan originator when acting for an entity described in subsection (tt) of this Section.
(1.5) Any employee of a person or entity mentioned SB0748 Enrolled - 6 - LRB100 05748 SMS 15771 b in item (1) of this subsection, when acting for such person or entity, or any registered mortgage loan originator when acting for an entity described in subsection (tt) of this Section.
SB0748 Engrossed - 7 - LRB100 05748 SMS 15771 b (e) "Licensee" or "residential mortgage licensee" shall mean a person, partnership, association, corporation, or any other entity who or which is licensed pursuant to this Act to engage in the activities regulated by this Act.
SB0748 Enrolled - 7 - LRB100 05748 SMS 15771 b (e) "Licensee" or "residential mortgage licensee" shall mean a person, partnership, association, corporation, or any other entity who or which is licensed pursuant to this Act to engage in the activities regulated by this Act.
SB0748 Engrossed - 8 - LRB100 05748 SMS 15771 b (i) "Residential mortgage financing transaction" shall mean the negotiation, acquisition, sale, or arrangement for or the offer to negotiate, acquire, sell, or arrange for, a residential mortgage loan or residential mortgage loan commitment.
SB0748 Enrolled - 8 - LRB100 05748 SMS 15771 b (i) "Residential mortgage financing transaction" shall mean the negotiation, acquisition, sale, or arrangement for or the offer to negotiate, acquire, sell, or arrange for, a residential mortgage loan or residential mortgage loan commitment.
(n-1) "Director" shall mean the Director of the SB0748 Engrossed - 9 - LRB100 05748 SMS 15771 b Division of Banking of the Department of Financial and Professional Regulation, except that, beginning on July 31, 2009 (the effective date of Public Act 96-112), all references in this Act to the Director are deemed, in appropriate contexts, to be the Secretary of Financial and Professional Regulation, or his or her designee, including the Director of the Division of Banking of the Department of Financial and Professional Regulation.
(n-1) "Director" shall mean the Director of the SB0748 Enrolled - 9 - LRB100 05748 SMS 15771 b Division of Banking of the Department of Financial and Professional Regulation, except that, beginning on July 31, 2009 (the effective date of Public Act 96-112), all references in this Act to the Director are deemed, in appropriate contexts, to be the Secretary of Financial and Professional Regulation, or his or her designee, including the Director of the Division of Banking of the Department of Financial and Professional Regulation.
(p) "Loan broker" or "broker" shall mean a person, partnership, association, corporation, or limited liability company, other than those persons, partnerships, associations, corporations, or limited liability companies exempted from licensing pursuant to Section 1-4, subsection (d), of this Act, who performs the activities described in subsections (c), (o), and (yy) of this SB0748 Engrossed - 10 - LRB100 05748 SMS 15771 b Section.
(p) "Loan broker" or "broker" shall mean a person, partnership, association, corporation, or limited liability company, other than those persons, partnerships, associations, corporations, or limited liability companies exempted from licensing pursuant to Section 1-4, subsection (d), of this Act, who performs the activities described in subsections (c), (o), and (yy) of this SB0748 Enrolled - 10 - LRB100 05748 SMS 15771 b Section.
The management and operation of each full service office SB0748 Engrossed - 11 - LRB100 05748 SMS 15771 b must include observance of good business practices such as proper signage;
The management and operation of each full service office SB0748 Enrolled - 11 - LRB100 05748 SMS 15771 b must include observance of good business practices such as proper signage;
(w) "Advertisement" shall mean the attempt by SB0748 Engrossed - 12 - LRB100 05748 SMS 15771 b publication, dissemination, or circulation to induce, directly or indirectly, any person to enter into a residential mortgage loan agreement or residential mortgage loan brokerage agreement relative to a mortgage secured by residential real estate situated in Illinois.
(w) "Advertisement" shall mean the attempt by SB0748 Enrolled - 12 - LRB100 05748 SMS 15771 b publication, dissemination, or circulation to induce, directly or indirectly, any person to enter into a residential mortgage loan agreement or residential mortgage loan brokerage agreement relative to a mortgage secured by residential real estate situated in Illinois.
(bb) "Escrow agent" shall mean a third party, individual or entity charged with the fiduciary obligation SB0748 Engrossed - 13 - LRB100 05748 SMS 15771 b for holding escrow funds on a residential mortgage loan pending final payout of those funds in accordance with the terms of the residential mortgage loan.
(bb) "Escrow agent" shall mean a third party, individual or entity charged with the fiduciary obligation SB0748 Enrolled - 13 - LRB100 05748 SMS 15771 b for holding escrow funds on a residential mortgage loan pending final payout of those funds in accordance with the terms of the residential mortgage loan.
SB0748 Engrossed - 14 - LRB100 05748 SMS 15771 b (ee) "First tier subsidiary" shall be defined by regulation incorporating the comparable definitions used by the Office of the Comptroller of the Currency and the Illinois Commissioner of Banks and Real Estate.
SB0748 Enrolled - 14 - LRB100 05748 SMS 15771 b (ee) "First tier subsidiary" shall be defined by regulation incorporating the comparable definitions used by the Office of the Comptroller of the Currency and the Illinois Commissioner of Banks and Real Estate.
(hh) "Loan originator" means any natural person who, for compensation or in the expectation of compensation, either directly or indirectly makes, offers to make, SB0748 Engrossed - 15 - LRB100 05748 SMS 15771 b solicits, places, or negotiates a residential mortgage loan.
(hh) "Loan originator" means any natural person who, for compensation or in the expectation of compensation, either directly or indirectly makes, offers to make, SB0748 Enrolled - 15 - LRB100 05748 SMS 15771 b solicits, places, or negotiates a residential mortgage loan.
SB0748 Engrossed - 16 - LRB100 05748 SMS 15771 b "Mortgage loan originator" includes an individual engaged in loan modification activities as defined in subsection (yy) of this Section.
SB0748 Enrolled - 16 - LRB100 05748 SMS 15771 b "Mortgage loan originator" includes an individual engaged in loan modification activities as defined in subsection (yy) of this Section.
(kk) "Depository institution" has the same meaning as SB0748 Engrossed - 17 - LRB100 05748 SMS 15771 b in Section 3 of the Federal Deposit Insurance Act, and includes any credit union.
(kk) "Depository institution" has the same meaning as SB0748 Enrolled - 17 - LRB100 05748 SMS 15771 b in Section 3 of the Federal Deposit Insurance Act, and includes any credit union.
An individual engaging solely in loan processor or SB0748 Engrossed - 18 - LRB100 05748 SMS 15771 b underwriter activities shall not represent to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the individual can or will perform any of the activities of a mortgage loan originator.
An individual engaging solely in loan processor or SB0748 Enrolled - 18 - LRB100 05748 SMS 15771 b underwriter activities shall not represent to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the individual can or will perform any of the activities of a mortgage loan originator.
(2) bringing together parties interested in the sale, purchase, lease, rental, or exchange of real SB0748 Engrossed - 19 - LRB100 05748 SMS 15771 b property;
(2) bringing together parties interested in the sale, purchase, lease, rental, or exchange of real SB0748 Enrolled - 19 - LRB100 05748 SMS 15771 b property;
and (2) is registered with, and maintains a unique identifier through, the Nationwide Mortgage Licensing SB0748 Engrossed - 20 - LRB100 05748 SMS 15771 b System and Registry.
and (2) is registered with, and maintains a unique identifier through, the Nationwide Mortgage Licensing SB0748 Enrolled - 20 - LRB100 05748 SMS 15771 b System and Registry.
(zz) "Short sale facilitation" means, for compensation or gain, either directly or indirectly offering or negotiating on behalf of a borrower or homeowner to facilitate the sale of residential real estate subject to one or more residential mortgage loans or debts constituting liens on the property in which the proceeds from selling the residential real estate will fall short of SB0748 Engrossed - 21 - LRB100 05748 SMS 15771 b the amount owed and the lien holders are contacted to agree to release their lien on the residential real estate and accept less than the full amount owed on the debt.
(zz) "Short sale facilitation" means, for compensation or gain, either directly or indirectly offering or negotiating on behalf of a borrower or homeowner to facilitate the sale of residential real estate subject to one or more residential mortgage loans or debts constituting liens on the property in which the proceeds from selling the residential real estate will fall short of SB0748 Enrolled - 21 - LRB100 05748 SMS 15771 b the amount owed and the lien holders are contacted to agree to release their lien on the residential real estate and accept less than the full amount owed on the debt.
SB0748 Engrossed - 22 - LRB100 05748 SMS 15771 b (1) applications for licenses;
SB0748 Enrolled - 22 - LRB100 05748 SMS 15771 b (1) applications for licenses;
SB0748 Engrossed - 23 - LRB100 05748 SMS 15771 b (i) to require information with regard to any license applicant as he or she may deem desirable, with due regard to the paramount interests of the public as to the experience, background, honesty, truthfulness, integrity, and competency of the license applicant as to financial transactions involving primary or subordinate mortgage financing, and where the license applicant is an entity other than an individual, as to the honesty, truthfulness, integrity, and competency of any officer or director of the corporation, association, or other entity, or the members of a partnership;
SB0748 Enrolled - 23 - LRB100 05748 SMS 15771 b (i) to require information with regard to any license applicant as he or she may deem desirable, with due regard to the paramount interests of the public as to the experience, background, honesty, truthfulness, integrity, and competency of the license applicant as to financial transactions involving primary or subordinate mortgage financing, and where the license applicant is an entity other than an individual, as to the honesty, truthfulness, integrity, and competency of any officer or director of the corporation, association, or other entity, or the members of a partnership;
Nothing in this Act shall prevent continuing the practice of paying expenses involving salaries, retirement, social security, and State-paid insurance of State officers by SB0748 Engrossed - 24 - LRB100 05748 SMS 15771 b appropriation from the General Revenue Fund.
Nothing in this Act shall prevent continuing the practice of paying expenses involving salaries, retirement, social security, and State-paid insurance of State officers by SB0748 Enrolled - 24 - LRB100 05748 SMS 15771 b appropriation from the General Revenue Fund.
(q) to assign an examiner or examiners to monitor the affairs of a licensee with whatever frequency the Commissioner determines appropriate and to charge the licensee for reasonable and necessary expenses of the SB0748 Engrossed - 25 - LRB100 05748 SMS 15771 b Commissioner, if in the opinion of the Commissioner an emergency exists or appears likely to occur;
(q) to assign an examiner or examiners to monitor the affairs of a licensee with whatever frequency the Commissioner determines appropriate and to charge the licensee for reasonable and necessary expenses of the SB0748 Enrolled - 25 - LRB100 05748 SMS 15771 b Commissioner, if in the opinion of the Commissioner an emergency exists or appears likely to occur;
(c) The purpose of the examination under subsection (b) shall be to determine whether the loan delinquency data of the licensee has resulted from practices which deviate from sound SB0748 Engrossed - 26 - LRB100 05748 SMS 15771 b and accepted mortgage underwriting practices, including but not limited to credit fraud, appraisal fraud and property inspection fraud.
(c) The purpose of the examination under subsection (b) shall be to determine whether the loan delinquency data of the licensee has resulted from practices which deviate from sound SB0748 Enrolled - 26 - LRB100 05748 SMS 15771 b and accepted mortgage underwriting practices, including but not limited to credit fraud, appraisal fraud and property inspection fraud.
(e) The Commissioner shall, at the conclusion of the public hearings, release his or her findings and shall also make SB0748 Engrossed - 27 - LRB100 05748 SMS 15771 b public any action taken with respect to the licensee.
(e) The Commissioner shall, at the conclusion of the public hearings, release his or her findings and shall also make SB0748 Enrolled - 27 - LRB100 05748 SMS 15771 b public any action taken with respect to the licensee.
This Act takes effect upon SB0748 Engrossed - 28 - LRB100 05748 SMS 15771 b becoming law.
This Act takes effect upon SB0748 Enrolled - 28 - LRB100 05748 SMS 15771 b becoming law.
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How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill modifies the structure and membership requirements of the State Banking Board of Illinois and repeals certain provisions of the Savings Bank Act.

  • 205 ILCS 5/78

    and one member shall be from a savings bank organized under the Savings Bank Act.

    Removes a member requirement for the State Banking Board from a savings bank under the Savings Bank Act.

  • 205 ILCS 5/78

    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 or savings bank. → 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 or savings bank.

    Clarifies the definition of public members on the Board who are not affiliated with banks.

  • 205 ILCS 5/79

    No State Banking Board member shall serve more than 2 full 4-year terms of office. → No State Banking Board member shall serve more than 2 full 4-year terms of office, except that a member from a savings bank shall not be disqualified solely due to a change in the bank's asset size.

    Adds an exemption to the term limits for members from savings banks if their bank's asset size changes.

Action History

  1. Public Act . . . . . . . . . 100-0783

  2. Effective Date August 10, 2018

  3. Governor Approved

  4. Sent to the Governor

  5. Passed Both Houses

  6. Third Reading - Short Debate - Passed 111-000-000

  7. Placed on Calendar Order of 3rd Reading - Short Debate

  8. Second Reading - Short Debate

  9. Placed on Calendar 2nd Reading - Short Debate

  10. Do Pass / Short Debate Financial Institutions Committee; 012-000-000

  11. Assigned to Financial Institutions Committee

  12. Referred to Rules Committee

  13. First Reading

  14. Chief House Sponsor Rep. Keith P. Sommer

  15. Arrived in House

  16. Third Reading - Passed; 054-000-000

  17. Placed on Calendar Order of 3rd Reading February 27, 2018

  18. Second Reading

  19. Placed on Calendar Order of 2nd Reading February 22, 2018

  20. Do Pass Financial Institutions; 007-000-000

  21. Re-assigned to Financial Institutions

  22. Rule 3-9(a) / Re-referred to Assignments

  23. Rule 2-10 Committee Deadline Established As May 5, 2017

  24. Assigned to Financial Institutions

  25. Rule 2-10 Committee Deadline Established As April 7, 2017

  26. Referred to Assignments

  27. First Reading

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

Sponsors

  • Jason A. Barickman · Cosponsor

Sponsorship breakdown

Export CSV (upgrade) →

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 111 Yea · 0 Nay · 7 Other
Party YeaNayPresentNot Voting
Unaffiliated 69005
Republican 12000
Democrat 30002
Total 111007
% of votes cast 94%0%0%6%
How each member voted (118)
Member Party Vote
Batinick — Yea
Bellock — Yea
Bourne — Yea
Breen — Yea
Bristow — Yea
Butler — Yea
Carroll — Yea
McAuliffe — Yea
Parkhurst — Yea
Phillips — Yea
Frese — Yea
Greenwood — Yea
Lang — Yea
Long — Yea
Bennett — Yea
Sauer — Yea
McDermed — Yea
Brady — Yea
Harris, David — Yea
McSweeney — Yea
Harris, Gregory — Yea
Sente — Yea
Hernandez — Yea
Burke, Daniel — Yea
Stewart — Yea
Burke, Kelly — Yea
Stratton — Yea
Thapedi — Yea
Turner — Yea
Unes — Yea
Jones — Yea
Wallace — Yea
Wehrli — Yea
Welter — Yea
Davis — Yea
Cavaletto — Yea
Connor — Yea
Conroy — Yea
Conyears-Ervin — Yea
Costello — Yea
Currie — Yea
D'Amico — Yea
Hays — Yea
Hurley — Yea
Ives — Yea
Jesiel — Yea
Madigan — Not Voting
Wheeler, Barbara — Yea
Wheeler, Keith — Yea
Mitchell, Bill — Yea
Williams — Yea
Finnie, Natalie — Yea
Mitchell, Christian — Not Voting
Demmer — Yea
Drury — Not Voting
Tabares — Not Voting
Willis — Yea
Winger — Yea
Yingling — Yea
Zalewski — Yea
Durkin — Yea
Flowers — Yea
Fortner — Yea
Jimenez — Yea
Olsen — Yea
Pritchard — Yea
Reis — Yea
Riley — Yea
Skillicorn — Yea
Sommer — Yea
Soto — Not Voting
Andersson — Yea
Arroyo — Yea
Chapa LaVia — Yea
Anna Moeller Democrat Yea
Anthony DeLuca Democrat Yea
Camille Y. Lilly Democrat Yea
Carol Ammons Democrat Not Voting
Emanuel "Chris" Welch Democrat Yea
Fred Crespo Democrat Yea
Jaime M. Andrade, Jr. Democrat Not Voting
Jay Hoffman Democrat Yea
Jehan Gordon-Booth Democrat Yea
Julie A. Morrison Democrat Yea
Justin Slaughter Democrat Yea
Katie Stuart Democrat Yea
Kelly M. Cassidy Democrat Yea
La Shawn K. Ford Democrat Yea
Laura Fine Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Marcus C. Evans, Jr. Democrat Yea
Martin J. Moylan Democrat Yea
Michael W. Halpin Democrat Yea
Michelle Mussman Democrat Yea
Natalie A. Manley Democrat Yea
Nicholas K. Smith Democrat Yea
Rita Mayfield Democrat Yea
Robert "Bob" Rita Democrat Yea
Robert F. Martwick Democrat Yea
Robyn Gabel Democrat Yea
Sara Feigenholtz Democrat Yea
Sonya M. Harper Democrat Yea
Stephanie A. Kifowit Democrat Yea
Sue Scherer Democrat Yea
Theresa Mah Democrat Yea
Will Guzzardi Democrat Yea
Brad Halbrook Republican Yea
Charles Meier Republican Yea
Christopher "C.D." Davidsmeyer Republican Yea
Dan Swanson Republican Yea
Dave Severin Republican Yea
Joe C. Sosnowski Republican Yea
John M. Cabello Republican Yea
Norine K. Hammond Republican Yea
Ryan Spain Republican Yea
Steven Reick Republican Yea
Terri Bryant Republican Yea
Tony M. McCombie Republican Yea

Official roll call →

Third Reading

Passed 54 Yea · 0 Nay · 5 Other
Party YeaNayPresentNot Voting
Unaffiliated 31004
Republican 9000
Democrat 14001
Total 54005
% of votes cast 92%0%0%8%
How each member voted (59)
Member Party Vote
Barickman — Yea
Bertino-Tarrant — Yea
Biss — Yea
Bivins — Yea
Bush — Yea
McCarter — Yea
McCann — Yea
Mulroe — Yea
Muñoz — Yea
Rooney — Yea
Nybo — Yea
Bennett — Yea
Harris — Yea
Steans — Yea
McGuire — Yea
Brady — Yea
Haine — Yea
Hutchinson — Yea
Cullerton — Yea
Cullerton, T. — Yea
Link — Yea
McConnaughay — Not Voting
Oberweis — Yea
Silverstein — Not Voting
Clayborne — Yea
Connelly — Yea
Raoul — Yea
Righter — Yea
Sandoval — Yea
Schimpf — Yea
Landek — Not Voting
Manar — Yea
Althoff — Not Voting
Martinez — Yea
Van Pelt — Yea
Bill Cunningham Democrat Yea
Cristina Castro Democrat Not Voting
David Koehler Democrat Yea
Don Harmon Democrat Yea
Elgie R. Sims, Jr. 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 Yea
Jil Tracy Republican Yea
John F. Curran 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 748 do?
Amends the Illinois Banking Act. Changes the number of additional members of the State Banking Board of Illinois from 11 to 12. Provides that one member of the Board shall be from a savings bank, and there shall also be an alternate member from a savings bank to attend meetings if and only if the sitting member from a savings bank is unable to attend the meeting. Changes the requirements for the 2 public members. Amends the Savings Bank Act. Repeals provisions relating to the Board of Savings Banks. Amends the Residential Mortgage License Act of 1987. Removes provisions relating to the Residential Mortgage Board. Effective immediately.
Who sponsors SB 748?
SB 748 is sponsored by Jason A. Barickman.
What is the current status of SB 748?
This bill has been enacted into law. Introduced January 30, 2017. Enacted.
Where can I track SB 748?
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