republic-os/legislation/us/states/il/96th/sb-1422.md

---
type: "Bill"
title: "SAVINGS BANK-CHANGE IN CONTROL"
description: "Amends the Savings Bank Act. Changes the definition of \"control\" to include certain persons or entities that engage in specific activities that have 10% or more of the capital stock or members shares of a mutual savings bank or mutual savings bank holding company. Provides that no person, whether acting directly or indirectly or through or in concert with one or more persons, may acquire control of a savings bank operating under the Act without prior approval of the Commissioner of Banks and Real Estate. Specifies the activities that the Commissioner may engage in with respect to investigating or approving the change in control of a savings bank. Provides that the Commissioner may prohibit participation in the affairs of any savings bank by any current, former, or prospective officer, director, employee, or agent of a savings bank, if he or she finds that the person or persons engages in specified activities. Provides that \"institution affiliated party\" includes a person who has filed or is required to file a change-in-control application (instead of change-in-control notice) with the Commissioner. Effective immediately."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "96th"
identifier: "SB 1422"
citation: "Illinois SB 1422 (96th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 27
vote_count: 2
first_action: "2009-02-11"
last_action: "2009-08-18"
source: "openstates"
source_identifier: "ocd-bill/c803885e-d874-48ae-8468-fd51eca308eb"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=1422&GAID=10&DocTypeID=SB&LegId=42691&SessionID=76&GA=96"
source_hash: "d38e628ba27d0031a52c34aa855b563619226670da8a6ed8a228ccbe996525c4"
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 SB 1422 (96th) — SAVINGS BANK-CHANGE IN CONTROL

Amends the Savings Bank Act. Changes the definition of "control" to include certain persons or entities that engage in specific activities that have 10% or more of the capital stock or members shares of a mutual savings bank or mutual savings bank holding company. Provides that no person, whether acting directly or indirectly or through or in concert with one or more persons, may acquire control of a savings bank operating under the Act without prior approval of the Commissioner of Banks and Real Estate. Specifies the activities that the Commissioner may engage in with respect to investigating or approving the change in control of a savings bank. Provides that the Commissioner may prohibit participation in the affairs of any savings bank by any current, former, or prospective officer, director, employee, or agent of a savings bank, if he or she finds that the person or persons engages in specified activities. Provides that "institution affiliated party" includes a person who has filed or is required to file a change-in-control application (instead of change-in-control notice) with the Commissioner. 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=09600SB1422&GA=96&SessionId=76&DocTypeId=SB&LegID=42691&DocNum=1422&GAID=10&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600SB1422eng&GA=96&SessionId=76&DocTypeId=SB&LegID=42691&DocNum=1422&GAID=10&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600SB1422enr&GA=96&SessionId=76&DocTypeId=SB&LegID=42691&DocNum=1422&GAID=10&Session=&print=true)

## Votes

- Third Reading — **113–0** (pass) · lower
- Third Reading — **57–0** (pass) · upper

## Sponsors

- Terry Link — primary (person)

## Timeline

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

- **2009-02-11** Filed with Secretary by Sen. Terry Link `filing`
- **2009-02-11** First Reading `reading-1`
- **2009-02-11** Referred to Assignments `referral-committee`
- **2009-02-18** Assigned to Financial Institutions `referral-committee`
- **2009-02-20** Added as Chief Co-Sponsor Sen. Kimberly A. Lightford
- **2009-02-27** Do Pass Financial Institutions; 011-000-000 `committee-passage`
- **2009-02-27** Placed on Calendar Order of 2nd Reading March 4, 2009
- **2009-03-05** Second Reading `reading-2`
- **2009-03-05** Placed on Calendar Order of 3rd Reading March 6, 2009
- **2009-03-26** Third Reading - Passed; 057-000-000 `reading-3, passage`
- **2009-03-26** Arrived in House `introduction`
- **2009-03-26** Placed on Calendar Order of First Reading `reading-1`
- **2009-04-01** Chief House Sponsor Rep. James D. Brosnahan
- **2009-04-01** First Reading `reading-1`
- **2009-04-01** Referred to Rules Committee `referral-committee`
- **2009-04-14** Assigned to Executive Committee `referral-committee`
- **2009-04-20** Re-assigned to Financial Institutions Committee `referral-committee`
- **2009-05-05** Do Pass / Short Debate Financial Institutions Committee; 014-006-001 `committee-passage`
- **2009-05-05** Placed on Calendar 2nd Reading - Short Debate
- **2009-05-19** Second Reading - Short Debate `reading-2`
- **2009-05-19** Placed on Calendar Order of 3rd Reading - Short Debate
- **2009-05-22** Third Reading - Short Debate - Passed 113-000-000 `reading-3, passage`
- **2009-05-22** Passed Both Houses
- **2009-06-19** Sent to the Governor `executive-receipt`
- **2009-08-18** Governor Approved `executive-signature`
- **2009-08-18** Effective Date August 18, 2009
- **2009-08-18** Public Act . . . . . . . . . 96-0585 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c803885e-d874-48ae-8468-fd51eca308eb`. Confidence: reported (aggregated from official Illinois legislature records).