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Fabio 5941153bb7 Legislation: batch B — IL IN KS KY LA MA MD ME MI MN 
Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 17:27:20 -04:00

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type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags
type title description jurisdiction legislature session identifier citation classification subjects status primary_sponsors version_count action_count vote_count first_action last_action source source_identifier source_url source_hash vintage source_snapshot retrieved_at confidence tags
Bill IL BANKING ACT-SURPLUS Amends the Illinois Banking Act. Provides that, for the purpose of declaring dividends pursuant to specified provisions, upon prior written approval of the Secretary of Financial and Professional Regulation, and without undergoing a quasi-reorganization, a State bank may restate its capital accounts to remove a deficit in its undivided profit account by eliminating such deficit into its surplus account so that the undivided profit account is restated to zero. Provides that nothing in provisions concerning general corporate powers shall be construed to require the filing of a notice or application for approval with the United States Office of the Comptroller of the Currency or a bank supervisor of another state as a condition to the right of a State bank to exercise any of the powers conferred in this State. Provides that the Secretary shall adopt rules under specified provisions. Effective immediately. us/states/il Illinois General Assembly 99th SB 1861 Illinois SB 1861 (99th)
bill
enacted
3 41 2 2015-02-20 2015-08-13 openstates ocd-bill/84210d03-188b-4892-8dee-2a19699bea82 http://ilga.gov/legislation/BillStatus.asp?DocNum=1861&GAID=13&DocTypeID=SB&LegId=88718&SessionID=88&GA=99 d6cebb6436bff4dd21e76f43595f5a84421dbb10d30b11effe5278009cc3b687 2026-07-01 https://data.openstates.org/daily/2026-07-01/public.pgdump 2026-07-06 reported
legislation
bill
us-il

Illinois SB 1861 (99th) — IL BANKING ACT-SURPLUS

Amends the Illinois Banking Act. Provides that, for the purpose of declaring dividends pursuant to specified provisions, upon prior written approval of the Secretary of Financial and Professional Regulation, and without undergoing a quasi-reorganization, a State bank may restate its capital accounts to remove a deficit in its undivided profit account by eliminating such deficit into its surplus account so that the undivided profit account is restated to zero. Provides that nothing in provisions concerning general corporate powers shall be construed to require the filing of a notice or application for approval with the United States Office of the Comptroller of the Currency or a bank supervisor of another state as a condition to the right of a State bank to exercise any of the powers conferred in this State. Provides that the Secretary shall adopt rules under specified provisions. Effective immediately.

Version chain

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

  1. Introduced (filed) — source
  2. Engrossed (committee substitute) — source
  3. Enrolled (enrolled) — source

Votes

  • Third Reading — 55–0 (pass) · upper
  • Third Reading — 113–1 (pass) · lower

Sponsors

  • Arthur Turner — cosponsor (person)
  • Brandon W. Phelps — cosponsor (person)
  • Daniel V. Beiser — cosponsor (person)
  • John M. Sullivan — primary (person)
  • Lawrence Walsh, Jr. — cosponsor (person)
  • Patrick J. Verschoore — cosponsor (person)
  • Peter Breen — cosponsor (person)

Timeline

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

  • 2015-02-20 Filed with Secretary by Sen. John M. Sullivan filing
  • 2015-02-20 First Reading reading-1
  • 2015-02-20 Referred to Assignments referral-committee
  • 2015-03-11 Assigned to Financial Institutions referral-committee
  • 2015-03-17 Senate Committee Amendment No. 1 Filed with Secretary by Sen. John M. Sullivan amendment-introduction
  • 2015-03-17 Senate Committee Amendment No. 1 Referred to Assignments referral-committee
  • 2015-03-19 Added as Co-Sponsor Sen. Pamela J. Althoff
  • 2015-03-24 Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  • 2015-03-25 Senate Committee Amendment No. 1 Adopted amendment-passage
  • 2015-03-25 Do Pass as Amended Financial Institutions; 011-000-000 committee-passage
  • 2015-03-25 Placed on Calendar Order of 2nd Reading March 26, 2015
  • 2015-04-15 Second Reading reading-2
  • 2015-04-15 Placed on Calendar Order of 3rd Reading April 16, 2015
  • 2015-04-23 Third Reading - Passed; 055-000-000 reading-3, passage
  • 2015-04-24 Arrived in House introduction
  • 2015-04-24 Chief House Sponsor Rep. Lou Lang
  • 2015-04-24 First Reading reading-1
  • 2015-04-24 Referred to Rules Committee referral-committee
  • 2015-04-29 Added Alternate Chief Co-Sponsor Rep. Rita Mayfield
  • 2015-04-30 Added Alternate Chief Co-Sponsor Rep. Ron Sandack
  • 2015-04-30 Added Alternate Chief Co-Sponsor Rep. Frank J. Mautino
  • 2015-04-30 Added Alternate Chief Co-Sponsor Rep. Kenneth Dunkin
  • 2015-04-30 Added Alternate Co-Sponsor Rep. Arthur Turner
  • 2015-05-04 Assigned to Financial Institutions Committee referral-committee
  • 2015-05-08 Committee Deadline Extended-Rule 9(b) May 15, 2015
  • 2015-05-11 Added Alternate Co-Sponsor Rep. Peter Breen
  • 2015-05-14 Do Pass / Short Debate Financial Institutions Committee; 020-000-000 committee-passage
  • 2015-05-14 Placed on Calendar 2nd Reading - Short Debate
  • 2015-05-18 Second Reading - Short Debate reading-2
  • 2015-05-18 Placed on Calendar Order of 3rd Reading - Short Debate
  • 2015-05-22 Final Action Deadline Extended-9(b) May 31, 2015
  • 2015-05-29 Third Reading - Short Debate - Passed 113-001-001 reading-3, passage
  • 2015-05-29 Added Alternate Co-Sponsor Rep. Patrick J. Verschoore
  • 2015-05-29 Added Alternate Co-Sponsor Rep. Brandon W. Phelps
  • 2015-05-29 Added Alternate Co-Sponsor Rep. Daniel V. Beiser
  • 2015-05-29 Added Alternate Co-Sponsor Rep. Lawrence Walsh, Jr.
  • 2015-05-29 Passed Both Houses
  • 2015-06-26 Sent to the Governor executive-receipt
  • 2015-08-13 Governor Approved executive-signature
  • 2015-08-13 Effective Date August 13, 2015
  • 2015-08-13 Public Act . . . . . . . . . 99-0362 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/84210d03-188b-4892-8dee-2a19699bea82. Confidence: reported (aggregated from official Illinois legislature records).

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