Illinois SB 1777: BANKING&PROBATE-FINANCE/NOTICE

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 Full Text of SB1777

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 Senate Amendment 001 
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SB1777 EnrolledLRB104 09558 JRC 19621 b

1 AN ACT concerning finances.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Banking Act is amended by changing 

5Section 48.1 as follows:

6 (205 ILCS 5/48.1) (from Ch. 17, par. 360)

7 Sec. 48.1. Customer financial records; confidentiality. 

8 (a) For the purpose of this Section, the term "financial 

9records" means any original, any copy, or any summary of:

10 (1) a document granting signature authority over a 

11 deposit or account;

12 (2) a statement, ledger card or other record on any 

13 deposit or account, which shows each transaction in or 

14 with respect to that account;

15 (3) a check, draft or money order drawn on a bank or 

16 issued and payable by a bank; or

17 (4) any other item containing information pertaining 

18 to any relationship established in the ordinary course of 

19 a bank's business between a bank and its customer, 

20 including financial statements or other financial 

21 information provided by the customer.

22 (b) This Section does not prohibit:

23 (1) The preparation, examination, handling or 

SB1777 Enrolled- 2 -LRB104 09558 JRC 19621 b

1 maintenance of any financial records by any officer, 

2 employee or agent of a bank having custody of the records, 

3 or the examination of the records by a certified public 

4 accountant engaged by the bank to perform an independent 

5 audit.

6 (2) The examination of any financial records by, or 

7 the furnishing of financial records by a bank to, any 

8 officer, employee or agent of (i) the Commissioner