205 ILCS 610/0.01
Short title
Short title. This Act may be cited as the Banking Emergencies Act. (Source: P.A. 86-1324.)
Illinois Compiled Statutes 205 ILCS 610 — Banking Emergencies Act.
Illinois · statute · 205 ILCS 610 · 7 active provisions
205 ILCS 610/1
Definitions
Definitions. As used in this Act, unless the context otherwise requires: (1) "Commissioner" means the officer of this State designated by law to exercise supervision over banks and trust companies, and any other person lawfully exercising such powers, except that beginning on the effective date of this amendatory Act o…
205 ILCS 610/2
Power of Commissioner
Power of Commissioner. (a) Whenever the Commissioner is notified by any officer of a bank or by any other means becomes aware that an emergency exists, or is impending, he may, by proclamation, authorize all banks in the State of Illinois to close or alter the hours at any or all of their offices, or if only a bank or…
205 ILCS 610/3
Notice to Commissioner and the public
Notice to Commissioner and the public. A bank closing an office or offices under Section 2 of this Act shall give as prompt notice of its action as conditions will permit and by any means available, to the Commissioner, or in the case of a national bank, to the Comptroller of the Currency. In addition the bank shall po…
205 ILCS 610/4
Effect of closing
Effect of closing. Any day on which a bank, or any one or more of its offices, is closed during all or any part of its normal banking hours under Section 2 of this Act shall be, with respect to such bank or, if not all of its offices are closed, then with respect to any office or offices which are closed, a legal holid…
205 ILCS 610/5
Year 2000 Consumer Protections
Year 2000 Consumer Protections. (a) For the purposes of this Section: (1) the term "Illinois financial institution" means: (A) a State bank, a national bank, or an out-of-state bank, as those terms are defined in the Illinois Banking Act, or any subsidiary of a State bank, a national bank, or an out-of-state bank; (B)…
205 ILCS 610/6
Rulemaking
Rulemaking. The Department of Financial and Professional Regulation may adopt rules to address the closing or alteration of hours by banks at one or more of their offices when affected by an emergency or impending emergency. (Source: P.A. 102-553, eff. 1-1-22.)