Fabio
213 lines
16 KiB
Markdown
213 lines
16 KiB
Markdown
---
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type: "Bill"
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title: "BANKING-REGULATION"
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description: "Amends the Division of Banking Act. Authorizes the Secretary of Financial and Professional Regulation to establish a Commercial Bank Regulatory Section and a Savings Bank Regulatory Section within the Division. Amends the State Finance Act. Changes the name of the Savings and Residential Finance Regulatory Fund to the Residential Finance Regulatory Fund. Provides for expenditures from the Savings Institution Regulatory Fund and the Residential Finance Regulatory Fund related to the disposition of unclaimed property. Amends the Savings Bank Act. Provides that the Secretary may charter mutual and stock holding companies in connection with a mutual savings bank reorganization. Establishes the effect of the repeal of the Illinois Savings and Loan Act of 1985, including the regulation of entities formerly under the Illinois Savings and Loan Act as savings banks under the Savings Bank Act. Changes references from \"member or shareholder\" to \"customer\". Changes references from \"Commissioner\" to \"Secretary\". Makes changes to provisions concerning articles of incorporation, proxies, directors, access to books and records, regulations, investment in loans, loans to one borrower, mergers, conversion of an existing depository institution to a savings bank, powers of the Secretary, regulatory fees, and disclosure of reports of examinations and confidential supervisory information. Repeals the Illinois Savings and Loan Act of 1985. Makes other changes. Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "98th"
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identifier: "SB 1778"
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citation: "Illinois SB 1778 (98th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 120
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vote_count: 5
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first_action: "2013-02-15"
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last_action: "2014-08-26"
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source: "openstates"
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source_identifier: "ocd-bill/b8b67a66-9f58-4804-8b3f-4aee759239af"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=1778&GAID=12&DocTypeID=SB&LegId=72698&SessionID=85&GA=98"
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source_hash: "c857dc37cb1fc9f50ff24011c9339f6c764a2d7b634301cacd2dac01acd18bfe"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 1778 (98th) — BANKING-REGULATION
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Amends the Division of Banking Act. Authorizes the Secretary of Financial and Professional Regulation to establish a Commercial Bank Regulatory Section and a Savings Bank Regulatory Section within the Division. Amends the State Finance Act. Changes the name of the Savings and Residential Finance Regulatory Fund to the Residential Finance Regulatory Fund. Provides for expenditures from the Savings Institution Regulatory Fund and the Residential Finance Regulatory Fund related to the disposition of unclaimed property. Amends the Savings Bank Act. Provides that the Secretary may charter mutual and stock holding companies in connection with a mutual savings bank reorganization. Establishes the effect of the repeal of the Illinois Savings and Loan Act of 1985, including the regulation of entities formerly under the Illinois Savings and Loan Act as savings banks under the Savings Bank Act. Changes references from "member or shareholder" to "customer". Changes references from "Commissioner" to "Secretary". Makes changes to provisions concerning articles of incorporation, proxies, directors, access to books and records, regulations, investment in loans, loans to one borrower, mergers, conversion of an existing depository institution to a savings bank, powers of the Secretary, regulatory fees, and disclosure of reports of examinations and confidential supervisory information. Repeals the Illinois Savings and Loan Act of 1985. Makes other changes. Effective immediately.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800SB1778&GA=98&SessionId=85&DocTypeId=SB&LegID=72698&DocNum=1778&GAID=12&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800SB1778eng&GA=98&SessionId=85&DocTypeId=SB&LegID=72698&DocNum=1778&GAID=12&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800SB1778enr&GA=98&SessionId=85&DocTypeId=SB&LegID=72698&DocNum=1778&GAID=12&Session=&print=true)
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## Votes
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- Third Reading — **53–0** (pass) · upper
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- Concurrence, Amendment 1 — **56–0** (pass) · upper
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- Third Reading — **115–0** (pass) · lower
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- Concurrence, Amendment 2 — **56–0** (pass) · upper
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- Concurrence, Amendment 3 — **56–0** (pass) · upper
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## Sponsors
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- Ann Williams — cosponsor (person)
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- Barbara Wheeler — cosponsor (person)
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- Brandon W. Phelps — cosponsor (person)
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- C.D. Davidsmeyer — cosponsor (person)
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- Carol A. Sente — cosponsor (person)
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- Christian L. Mitchell — cosponsor (person)
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- David McSweeney — cosponsor (person)
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- Deborah Conroy — cosponsor (person)
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- Dennis M. Reboletti — cosponsor (person)
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- Emanuel Chris Welch — cosponsor (person)
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- Esther Golar — cosponsor (person)
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- Frances Ann Hurley — cosponsor (person)
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- Fred Crespo — cosponsor (person)
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- Jack D. Franks — cosponsor (person)
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- John D'Amico — cosponsor (person)
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- John M. Cabello — cosponsor (person)
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- La Shawn K. Ford — cosponsor (person)
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- Linda Chapa LaVia — cosponsor (person)
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- Lou Lang — cosponsor (person)
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- Marcus C. Evans, Jr. — cosponsor (person)
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- Martin J. Moylan — cosponsor (person)
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- Mary E. Flowers — cosponsor (person)
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- Michael J. Zalewski — cosponsor (person)
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- Michelle Mussman — cosponsor (person)
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- Pamela J. Althoff — primary (person)
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- Robert F. Martwick — cosponsor (person)
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- Robert Rita — cosponsor (person)
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- Sam Yingling — cosponsor (person)
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- Silvana Tabares — cosponsor (person)
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- Stephanie A. Kifowit — cosponsor (person)
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- William Davis — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2013-02-15** Filed with Secretary by Sen. Michael W. Frerichs `filing`
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- **2013-02-15** First Reading `reading-1`
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- **2013-02-15** Referred to Assignments `referral-committee`
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- **2013-02-27** Assigned to Financial Institutions `referral-committee`
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- **2013-03-01** Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael W. Frerichs `amendment-introduction`
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- **2013-03-01** Senate Committee Amendment No. 1 Referred to Assignments `referral-committee`
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- **2013-03-06** Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
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- **2013-03-06** Senate Committee Amendment No. 1 Adopted `amendment-passage`
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- **2013-03-06** Do Pass as Amended Financial Institutions; 011-000-000 `committee-passage`
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- **2013-03-06** Placed on Calendar Order of 2nd Reading March 7, 2013
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- **2013-03-21** Second Reading `reading-2`
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- **2013-03-21** Placed on Calendar Order of 3rd Reading April 10, 2013
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- **2013-04-10** Third Reading - Passed; 053-000-000 `reading-3, passage`
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- **2013-04-10** Arrived in House `introduction`
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- **2013-04-11** Chief House Sponsor Rep. Maria Antonia Berrios
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- **2013-04-11** First Reading `reading-1`
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- **2013-04-11** Referred to Rules Committee `referral-committee`
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- **2013-04-18** Added Alternate Chief Co-Sponsor Rep. Rich Brauer
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- **2013-05-15** Final Action Deadline Extended-9(b) May 24, 2013
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- **2013-05-15** Assigned to Judiciary `referral-committee`
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- **2013-05-21** Do Pass / Short Debate Judiciary; 009-001-000 `committee-passage`
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- **2013-05-21** Placed on Calendar 2nd Reading - Short Debate
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- **2013-05-23** Second Reading - Short Debate `reading-2`
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- **2013-05-23** Held on Calendar Order of Second Reading - Short Debate `reading-2`
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- **2013-05-24** Final Action Deadline Extended-9(b) May 31, 2013
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- **2013-05-31** Rule 19(a) / Re-referred to Rules Committee `referral-committee`
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- **2014-05-08** Chief Sponsor Changed to Sen. Pamela J. Althoff
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- **2014-05-12** Approved for Consideration Rules Committee; 003-000-000
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- **2014-05-12** Placed on Calendar 2nd Reading - Short Debate
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- **2014-05-13** Alternate Chief Sponsor Changed to Rep. Anna Moeller
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- **2014-05-13** House Floor Amendment No. 1 Filed with Clerk by Rep. Anna Moeller `amendment-introduction`
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- **2014-05-13** House Floor Amendment No. 1 Referred to Rules Committee `referral-committee`
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Martin J. Moylan
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Marcus C. Evans, Jr.
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Silvana Tabares
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Robert F. Martwick
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Michelle Mussman
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Esther Golar
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Carol A. Sente
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- **2014-05-13** Added Alternate Co-Sponsor Rep. C.D. Davidsmeyer
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Barbara Wheeler
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Dennis M. Reboletti
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- **2014-05-13** Added Alternate Co-Sponsor Rep. John M. Cabello
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- **2014-05-13** Added Alternate Co-Sponsor Rep. William Davis
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Patricia R. Bellock
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Fred Crespo
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Stephanie A. Kifowit
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- **2014-05-13** Alternate Chief Co-Sponsor Removed Rep. Rich Brauer
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- **2014-05-13** Added Alternate Chief Co-Sponsor Rep. Sam Yingling
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- **2014-05-13** Added Alternate Chief Co-Sponsor Rep. Michael W. Tryon
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- **2014-05-13** Added Alternate Chief Co-Sponsor Rep. Jack D. Franks
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- **2014-05-13** Added Alternate Chief Co-Sponsor Rep. Christian L. Mitchell
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- **2014-05-13** Added Alternate Co-Sponsor Rep. Lou Lang
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- **2014-05-13** Added Alternate Co-Sponsor Rep. David McSweeney
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- **2014-05-13** House Floor Amendment No. 1 Rules Refers to Business & Occupational Licenses Committee
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- **2014-05-13** Alternate Chief Co-Sponsor Changed to Rep. Patricia R. Bellock
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- **2014-05-14** Added Alternate Co-Sponsor Rep. Frances Ann Hurley
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- **2014-05-15** House Floor Amendment No. 2 Filed with Clerk by Rep. Anna Moeller `amendment-introduction`
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- **2014-05-15** House Floor Amendment No. 2 Referred to Rules Committee `referral-committee`
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- **2014-05-15** Alternate Chief Co-Sponsor Removed Rep. Sam Yingling
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- **2014-05-15** Added Alternate Chief Co-Sponsor Rep. Anthony DeLuca
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- **2014-05-15** Added Alternate Co-Sponsor Rep. Sam Yingling
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- **2014-05-16** House Floor Amendment No. 3 Filed with Clerk by Rep. Anna Moeller `amendment-introduction`
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- **2014-05-16** House Floor Amendment No. 3 Referred to Rules Committee `referral-committee`
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- **2014-05-19** House Floor Amendment No. 2 Rules Refers to Business & Occupational Licenses Committee
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- **2014-05-19** House Floor Amendment No. 3 Rules Refers to Business & Occupational Licenses Committee
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- **2014-05-20** Added as Co-Sponsor Sen. Michael Noland
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- **2014-05-20** House Floor Amendment No. 4 Filed with Clerk by Rep. Anna Moeller `amendment-introduction`
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- **2014-05-20** House Floor Amendment No. 4 Referred to Rules Committee `referral-committee`
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- **2014-05-20** Sponsor Removed Sen. Michael Noland
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- **2014-05-21** House Floor Amendment No. 4 Rules Refers to Business & Occupational Licenses Committee
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- **2014-05-21** House Floor Amendment No. 1 Recommends Be Adopted Business & Occupational Licenses Committee; 007-000-000 `committee-passage-favorable`
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- **2014-05-21** House Floor Amendment No. 2 Recommends Be Adopted Business & Occupational Licenses Committee; 007-000-000 `committee-passage-favorable`
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- **2014-05-21** House Floor Amendment No. 3 Recommends Be Adopted Business & Occupational Licenses Committee; 007-000-000 `committee-passage-favorable`
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- **2014-05-22** Added Alternate Co-Sponsor Rep. Linda Chapa LaVia
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- **2014-05-23** Alternate Chief Co-Sponsor Removed Rep. Jack D. Franks
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- **2014-05-23** Alternate Co-Sponsor Removed Rep. Patricia R. Bellock
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- **2014-05-23** Added Alternate Co-Sponsor Rep. Jack D. Franks
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- **2014-05-23** Final Action Deadline Extended-9(b) May 30, 2014
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- **2014-05-27** Added Alternate Co-Sponsor Rep. Robert Rita
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- **2014-05-28** Second Reading - Short Debate `reading-2`
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- **2014-05-28** House Floor Amendment No. 1 Adopted `amendment-passage`
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- **2014-05-28** House Floor Amendment No. 2 Adopted `amendment-passage`
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- **2014-05-28** House Floor Amendment No. 3 Adopted `amendment-passage`
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- **2014-05-28** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2014-05-29** Added Alternate Co-Sponsor Rep. John D'Amico
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- **2014-05-29** Added Alternate Co-Sponsor Rep. Ann Williams
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- **2014-05-29** Added Alternate Co-Sponsor Rep. Deborah Conroy
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- **2014-05-29** Added Alternate Co-Sponsor Rep. Brandon W. Phelps
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- **2014-05-29** Added Alternate Co-Sponsor Rep. Mary E. Flowers
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- **2014-05-29** Added Alternate Co-Sponsor Rep. Emanuel Chris Welch
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- **2014-05-29** Added Alternate Co-Sponsor Rep. La Shawn K. Ford
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- **2014-05-29** Third Reading - Short Debate - Passed 115-000-000 `reading-3, passage`
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- **2014-05-29** Added Alternate Co-Sponsor Rep. Christian L. Mitchell
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- **2014-05-29** Added Alternate Co-Sponsor Rep. Michael J. Zalewski
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- **2014-05-29** Secretary's Desk - Concurrence House Amendment(s) 1, 2, 3
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- **2014-05-29** Placed on Calendar Order of Concurrence House Amendment(s) 1, 2, 3 - May 30, 2014
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- **2014-05-29** House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Pamela J. Althoff `filing`
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- **2014-05-29** House Floor Amendment No. 1 Motion to Concur Referred to Assignments `referral-committee`
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- **2014-05-29** House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Pamela J. Althoff `filing`
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- **2014-05-29** House Floor Amendment No. 2 Motion to Concur Referred to Assignments `referral-committee`
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- **2014-05-29** House Floor Amendment No. 3 Motion to Concur Filed with Secretary Sen. Pamela J. Althoff `filing`
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- **2014-05-29** House Floor Amendment No. 3 Motion to Concur Referred to Assignments `referral-committee`
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- **2014-05-30** House Floor Amendment No. 1 Motion to Concur Assignments Referred to Licensed Activities and Pensions `referral-committee`
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- **2014-05-30** House Floor Amendment No. 2 Motion to Concur Assignments Referred to Licensed Activities and Pensions `referral-committee`
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- **2014-05-30** House Floor Amendment No. 3 Motion to Concur Assignments Referred to Licensed Activities and Pensions `referral-committee`
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- **2014-05-30** House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 008-000-000
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- **2014-05-30** House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 008-000-000
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- **2014-05-30** House Floor Amendment No. 3 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 008-000-000
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- **2014-05-30** House Floor Amendment No. 4 Rule 19(a) / Re-referred to Rules Committee `referral-committee`
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- **2014-05-30** Added as Chief Co-Sponsor Sen. Michael Noland
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- **2014-05-30** Added as Co-Sponsor Sen. Kirk W. Dillard
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- **2014-05-30** House Floor Amendment No. 1 Senate Concurs 056-000-000
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- **2014-05-30** House Floor Amendment No. 2 Senate Concurs 056-000-000
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- **2014-05-30** House Floor Amendment No. 3 Senate Concurs 056-000-000
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- **2014-05-30** Passed Both Houses
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- **2014-06-27** Sent to the Governor `executive-receipt`
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- **2014-08-26** Governor Approved `executive-signature`
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- **2014-08-26** Effective Date January 1, 2015
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- **2014-08-26** Public Act . . . . . . . . . 98-1096 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/b8b67a66-9f58-4804-8b3f-4aee759239af`. Confidence: reported (aggregated from official Illinois legislature records).
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