SB 235 Illinois Senate · 93rd Regular Session

BANK RELY POWER OF ATTY

Summary

Amends the Illinois Banking Act. Provides that a bank that relies upon a power of attorney naming a bank customer as principal must notify the customer within 10 days after the act of reliance. Requires the customer to review the act of reliance and notify the bank of any unauthorized transaction. Provides that failure of a customer to notify the bank of an unauthorized transaction precludes the customer from making certain claims against the bank.

Bill status failed 3 of 5 stages cleared

Introduction

Mar 2003

Committee Review

May 2003

Senate Passage

Mar 2003

House Passage

Governor

Introduced Mar 19, 2003 Last action Jan 11, 2005

Floor votes · Senate Mar 19, 2003

How they voted

39–0

Passed · 6 other

Total votes 45

Mar 19, 2003

D Democratic25

24 Yea 1

96% Yea

R Republican20

15 Yea 5

75% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 2, 2003

Committee

Rule 19(a) / Re-referred to Rules Committee

lower

Mar 31, 2003

Committee

Assigned to Executive Committee

lower

Mar 21, 2003

Committee

Referred to Rules Committee

lower

Mar 19, 2003

Introduced

Arrived in House

lower

Mar 19, 2003

Senate · Passed

Senate Vote: pass (39-0-6)

senate

Mar 6, 2003

Upper · Passed

Do Pass as Amended Financial Institutions; 009-000-000

upper

Mar 6, 2003

Upper · Passed

Senate Committee Amendment No. 1 Adopted

upper

Feb 26, 2003

Upper · Passed

Senate Committee Amendment No. 1 Rules Refers to Financial Institutions

upper

Feb 19, 2003

Committee

Senate Committee Amendment No. 1 Referred to Rules

upper

Feb 19, 2003

Introduced

Senate Committee Amendment No. 1 Filed with Secretary by Sen. Ira I. Silverstein

upper

Feb 6, 2003

Committee

Assigned to Financial Institutions

upper

Feb 5, 2003

Committee

Referred to Rules

upper

0 primary · 1 co-sponsor