BANKING-REGULATION

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.