republic-os/legislation/us/states/il/100th/hb-1792.md

---
type: "Bill"
title: "CREDIT UNIONS-VARIOUS"
description: "Amends the Illinois Credit Union Act. Provides that the par value of shares of a credit union must be at least $1 (rather than $5). Provides that the board of credit union advisors shall meet at least once each calendar year (rather than once each 6 months). Provides that credit union members may vote on questions and in elections by secure electronic record if approved by the board of directors. Changes the definition of \"compliance review committee\". Changes the limit on the amount of loans a credit union may make to individual members and how those limitations are set. Provides that a credit union or network credit union may create and use descriptive and brand references to promote and market its identity, services, and products to its members. Provides that corporate bonds identified as investment grade by at least one nationally recognized statistical rating organization may be invested by the credit union with funds not used in loans provided that certain criteria are satisfied. Provides that credit unions may invest funds not used in loans to aid in the credit union's management of its assets, liabilities, and liquidity in the purchase of an investment interest in a pool of loans, in whole or in part and without regard to the membership of the borrowers, from other depository institutions and financial type institutions, including mortgage banks, finance companies, insurance companies, and other loan sellers. Provides that each divisional credit union may (rather than shall) have an advisory board of directors and the advisory board of directors may (rather than the board of directors shall) appoint a divisional credit union chief management official. Provides that a divisional credit union may determine to identify its advisory board as a committee and its divisional chief management official with a title it deems reasonable and appropriate. Makes other changes. Effective immediately."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "100th"
identifier: "HB 1792"
citation: "Illinois HB 1792 (100th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 35
vote_count: 2
first_action: "2017-02-01"
last_action: "2017-08-25"
source: "openstates"
source_identifier: "ocd-bill/96f41b9f-b5d3-4a67-952a-9d8f185cc06c"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=1792&GAID=14&DocTypeID=HB&LegId=102379&SessionID=91&GA=100"
source_hash: "f3f6aa6f9104255522a5df40c1e00a6b000823a1f4212465215de8df0bb23711"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois HB 1792 (100th) — CREDIT UNIONS-VARIOUS

Amends the Illinois Credit Union Act. Provides that the par value of shares of a credit union must be at least $1 (rather than $5). Provides that the board of credit union advisors shall meet at least once each calendar year (rather than once each 6 months). Provides that credit union members may vote on questions and in elections by secure electronic record if approved by the board of directors. Changes the definition of "compliance review committee". Changes the limit on the amount of loans a credit union may make to individual members and how those limitations are set. Provides that a credit union or network credit union may create and use descriptive and brand references to promote and market its identity, services, and products to its members. Provides that corporate bonds identified as investment grade by at least one nationally recognized statistical rating organization may be invested by the credit union with funds not used in loans provided that certain criteria are satisfied. Provides that credit unions may invest funds not used in loans to aid in the credit union's management of its assets, liabilities, and liquidity in the purchase of an investment interest in a pool of loans, in whole or in part and without regard to the membership of the borrowers, from other depository institutions and financial type institutions, including mortgage banks, finance companies, insurance companies, and other loan sellers. Provides that each divisional credit union may (rather than shall) have an advisory board of directors and the advisory board of directors may (rather than the board of directors shall) appoint a divisional credit union chief management official. Provides that a divisional credit union may determine to identify its advisory board as a committee and its divisional chief management official with a title it deems reasonable and appropriate. Makes other changes. Effective immediately.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000HB1792&GA=100&SessionId=91&DocTypeId=HB&LegID=102379&DocNum=1792&GAID=14&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000HB1792eng&GA=100&SessionId=91&DocTypeId=HB&LegID=102379&DocNum=1792&GAID=14&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000HB1792enr&GA=100&SessionId=91&DocTypeId=HB&LegID=102379&DocNum=1792&GAID=14&Session=&print=true)

## Votes

- Third Reading — **55–0** (pass) · upper
- Third Reading — **80–23** (pass) · lower

## Sponsors

- Dan McConchie — cosponsor (person)
- Laura M. Murphy — cosponsor (person)
- Lou Lang — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2017-02-01** Filed with the Clerk by Rep. Lou Lang `filing`
- **2017-02-02** First Reading `reading-1`
- **2017-02-02** Referred to Rules Committee `referral-committee`
- **2017-02-14** Assigned to Executive Committee `referral-committee`
- **2017-02-16** Added Co-Sponsor Rep. Daniel J. Burke
- **2017-02-22** Added Co-Sponsor Rep. Chad Hays
- **2017-03-08** Added Co-Sponsor Rep. Robert Rita
- **2017-03-09** Re-assigned to Financial Institutions Committee `referral-committee`
- **2017-03-21** Do Pass / Short Debate Financial Institutions Committee; 010-000-000 `committee-passage`
- **2017-03-22** Placed on Calendar 2nd Reading - Short Debate
- **2017-03-23** Second Reading - Short Debate `reading-2`
- **2017-03-23** Placed on Calendar Order of 3rd Reading - Short Debate
- **2017-04-07** Third Reading - Short Debate - Passed 080-023-000 `reading-3, passage`
- **2017-04-07** Motion Filed to Reconsider Vote Rep. Barbara Flynn Currie
- **2017-04-24** Motion to Reconsider Vote - Withdrawn Rep. Barbara Flynn Currie
- **2017-04-25** Arrive in Senate `introduction`
- **2017-04-25** Placed on Calendar Order of First Reading `reading-1`
- **2017-04-25** Chief Senate Sponsor Sen. David Koehler
- **2017-04-25** First Reading `reading-1`
- **2017-04-25** Referred to Assignments `referral-committee`
- **2017-05-02** Assigned to Financial Institutions `referral-committee`
- **2017-05-10** Do Pass Financial Institutions; 007-000-000 `committee-passage`
- **2017-05-10** Placed on Calendar Order of 2nd Reading May 11, 2017
- **2017-05-12** Second Reading `reading-2`
- **2017-05-12** Placed on Calendar Order of 3rd Reading May 15, 2017
- **2017-05-26** Rule 2-10 Third Reading Deadline Established As May 31, 2017 `reading-3`
- **2017-05-26** Added as Alternate Co-Sponsor Sen. Dan McConchie
- **2017-05-29** Added as Alternate Chief Co-Sponsor Sen. Mattie Hunter
- **2017-05-29** Added as Alternate Co-Sponsor Sen. Laura M. Murphy
- **2017-05-29** Third Reading - Passed; 055-000-000 `reading-3, passage`
- **2017-05-30** Passed Both Houses
- **2017-06-27** Sent to the Governor `executive-receipt`
- **2017-08-25** Governor Approved `executive-signature`
- **2017-08-25** Effective Date August 25, 2017
- **2017-08-25** Public Act . . . . . . . . . 100-0361 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/96f41b9f-b5d3-4a67-952a-9d8f185cc06c`. Confidence: reported (aggregated from official Illinois legislature records).