Chapter 205 — FINANCIAL REGULATION

(205 ILCS 740/9.7) (was 225 ILCS 425/9.7) Sec. 9.7. Enforcement under the Consumer Fraud and Deceptive Business Practices Act. The Attorney General may enforce the knowing violation of Section 9 (except for items (2) through (4), (7) through (9), (11) through (13), and (23) of su…

(205 ILCS 745/1) Sec. 1. Short title. This Act may be cited as the Banking Development District Act. (Source: P.A. 102-802, eff. 1-1-23.)

(205 ILCS 745/10) Sec. 10. Banking development district program. (a) There is hereby created a banking development district program, the purpose of which is to encourage the establishment of banking branches for banking services in geographic locations where there are the greates…

(205 ILCS 745/15) Sec. 15. Application. (a) The governing board of a local government, in conjunction with a depository institution, may submit an application to the Department for the designation of a banking development district. The boundaries of the proposed banking developme…

(205 ILCS 745/20) Sec. 20. Existing facilities. Notwithstanding any other provision of law, an application may be submitted by a local government in conjunction with a depository institution that has already opened a branch within the area of the proposed district. In considering…

(205 ILCS 745/25) Sec. 25. Deposits of public funds. When investing or depositing State funds, the State Treasurer and local governments may give preference to depository institutions that have an approved banking development district application. (Source: P.A. 102-802, eff. 1-1-…

(205 ILCS 745/30) Sec. 30. Limitations. Nothing in this Act shall be construed as authorizing the State Treasurer or local governments to conduct an examination or investigation of a depository institution or to receive information that is not publicly available and the disclosur…

(205 ILCS 745/35) Sec. 35. Rulemaking. In addition to such powers as may be prescribed by this Act, the Department, in consultation with the State Treasurer, may adopt rules consistent with the purposes of this Act, including, but not limited to: (1) rules that define the terms u…

(205 ILCS 745/5) Sec. 5. Definitions. As used in this Act: "Department" means the Department of Financial and Professional Regulation. "Depository institution" means a bank, savings bank, savings and loan association, or credit union organized or chartered under the laws of this …

(205 ILCS 745/99) Sec. 99. Effective date. This Act takes effect January 1, 2023. (Source: P.A. 102-802, eff. 1-1-23.)