Savings And Loan Legislation - Illinois

CIV PRO-SUPPLEMENTAL PROCEED Amends the Code of Civil Procedure. Provides that a judgment creditor may recover a corporate judgment debtor’s property for the creditor’s use. Provides that a debtor may be compelled to resign memberships in exchanges, clubs, or other entities. Provides that a judgment debtor’s property that is not amenable to a sheriff’s sale may be sold by other means. Provides property held by a third party that is determined to be wages is subject to a wage deduction. Provides recoverable costs include the cost of levy and replevin bonds. Provides that a federal judgment entered in Illinois shall be afforded recognition as if it were a circuit court judgment. Provides that wages subject to collection shall be (at present, shall not exceed) the lesser of 15% of the gross amount paid or the amount by which the disposable earnings exceed 45 times the federal minimum hourly wage. Provides that if an employer ceases to remit funds under a wage deduction order [...]

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FINAN REG-LOAN ORIGINATORS-CE Amends the Residential Mortgage License Act of 1987. Provides that the Department of Financial and Professional Regulation shall adopt rules as to the required yearly continuing education of loan originators. Provides that the Secretary of Financial and Professional Regulation shall approve all continuing education courses and the providers of continuing education courses. Provides that all continuing education courses and the providers of continuing education courses shall be subject to a review by a panel appointed by the Secretary. Specifies the number of members on the review panel. Provides that the Secretary shall consider the recommendations of the review panel prior to approving or disapproving continuing education courses or the providers of continuing education courses. House Amendment No. 1 Specifies that the Department of Financial and Professional Regulation shall adopt rules as to the required yearly continuing education [...]

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BANKING-REGULATIONS Amends the Illinois Banking Act. Provides that a state bank and its subsidiaries in compliance with Regulation W promulgated by the Board of Governors of the Federal Reserve shall be deemed to be in compliance with certain provisions of the Act concerning limitations on investments in and loans to affiliates. Amends the Banking Emergencies Act. Provides that, whenever the Commissioner becomes aware that an emergency exists, or is impending, he or she may, by proclamation, authorize any bank organized under the laws of another state, or of the United States, to open and operate offices in the State and to remain open until the Commissioner declares, by further proclamation, that the emergency or impending emergency has ended. Amends the Financial Institutions Electronic Documents and Digital Signature Act. For purposes of the Act, defines "financial institution" to include subsidiaries and affiliates of banks, savings and loan associations, savings banks, and [...]

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REAL ESTATE APPRAISER LIC-MISC Amends the Real Estate Appraiser Licensing Act of 2002. Makes changes throughout the Act that mark the transfer of authority to administer and enforce the Act to the Department of Financial and Professional Regulation (rather than the Office of Banks and Real Estate). Replaces "associate real estate appraiser" with "associate real estate trainee appraiser" throughout the Act. Changes the Real Estate Appraisal Board to the Real Estate Appraisal Administration and Disciplinary Board. Provides that a person who violates certain licensure provisions for a second or any subsequent time is guilty of a Class 4 felony. Sets forth additional education requirements for licensure under the Act. Removes a provision allowing a person who holds a valid license as a licensed real estate appraiser, issued pursuant to a predecessor Act, to convert that license to an associate real estate appraiser license. Removes a provision concerning licensed real estate appraiser's [...]

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FINANCIAL INSTITUTIONS-FEES Amends the State Finance Act. Excludes moneys received under the Illinois Credit Union Act from those moneys required to be deposited into the Financial Institution Fund. Makes certain provisions concerning transfers to the General Revenue Fund inapplicable to (i) any fund established under the Illinois Credit Union Act, the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, or the Savings Bank Act and (ii) the Professions Indirect Cost Fund. Prohibits the allocation or transfer of additional amounts generated by certain fee increases with respect to or from the Credit Union Fund. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, the Illinois Credit Union Act, and the Residential Mortgage License Act of 1987. With respect to the moneys in each of the Bank and Trust Company Fund, the Savings and Residential Finance Regulatory Fund, and the Credit Union Fund, exempts those moneys from assignment [...]

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BANKING-FEES/FUND TRANSFERS Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, the Illinois Credit Union Act, and the Residential Mortgage License Act of 1987. Defines "Secretary" as the Secretary of Financial and Professional Regulation, or a person authorized by the Secretary or by the Acts to act in the Secretary's stead and changes some provisions to reference the Secretary instead of the Commissioner of Banks and Real Estate or the Director of Financial Institutions. Allows the Secretary to adopt emergency and general rules to adjust regulatory rates in some Acts and decreases regulatory fees in other Acts. Provides that (1) the specified sum shall be transferred from the Bank and Trust Company Fund, the Savings and Residential Finance Regulatory Fund, and the Credit Union Fund to the General Revenue Fund on the effective date of the amendatory Act; (2) the Governor may, during any fiscal year through January 10, 2011, from [...]

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FINANCIAL INSTITUTIONS-FEES Amends the State Finance Act. Excludes moneys received under the Illinois Credit Union Act from those moneys required to be deposited into the Financial Institution Fund. Makes certain provisions concerning transfers to the General Revenue Fund inapplicable to (i) any fund established under the Illinois Credit Union Act, the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, or the Savings Bank Act and (ii) the Professions Indirect Cost Fund. Prohibits the allocation or transfer of additional amounts generated by certain fee increases with respect to or from the Credit Union Fund. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, the Illinois Credit Union Act, and the Residential Mortgage License Act of 1987. With respect to the moneys in each of the Bank and Trust Company Fund, the Savings and Residential Finance Regulatory Fund, and the Credit Union Fund, exempts those moneys from assignment [...]

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REAL ESTATE APPRAISER LIC-MISC Amends the Real Estate Appraiser Licensing Act of 2002. Makes changes throughout the Act that mark the transfer of authority to administer and enforce the Act to the Department of Financial and Professional Regulation (rather than the Office of Banks and Real Estate). Replaces "associate real estate appraiser" with "associate real estate trainee appraiser" throughout the Act. Changes the Real Estate Appraisal Board to the Real Estate Appraisal Administration and Disciplinary Board. Provides that a person who violates certain licensure provisions for a second or any subsequent time is guilty of a Class 4 felony. Sets forth additional education requirements for licensure under the Act. Removes a provision allowing a person who holds a valid license as a licensed real estate appraiser, issued pursuant to a predecessor Act, to convert that license to an associate real estate appraiser license. Removes a provision concerning licensed real estate appraiser's [...]

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FINAN REG-LOAN ORIGINATORS-CE Amends the Residential Mortgage License Act of 1987. Provides that the Department of Financial and Professional Regulation shall adopt rules as to the required yearly continuing education of loan originators. Provides that the Secretary of Financial and Professional Regulation shall approve all continuing education courses and the providers of continuing education courses. Provides that all continuing education courses and the providers of continuing education courses shall be subject to a review by a panel appointed by the Secretary. Specifies the number of members on the review panel. Provides that the Secretary shall consider the recommendations of the review panel prior to approving or disapproving continuing education courses or the providers of continuing education courses. House Amendment No. 1 Specifies that the Department of Financial and Professional Regulation shall adopt rules as to the required yearly continuing education [...]

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