FINANCE-CREDIT UNION/VARIOUS House SponsorsRep. Jay Hoffman-Camille Y. Lilly Senate Sponsors(Sen. David Koehler, Erica Harriss, Terri Bryant and Sally J. Turner) 7/28/2023HousePublic Act . . . . . . . . . 103-0289 205 ILCS 305/16from Ch. 17, par. 4417205 ILCS 305/20from Ch. 17, par. 4421205 ILCS 305/29from Ch. 17, par. 4430205 ILCS 305/48from Ch. 17, par. 4449205 ILCS 305/59from Ch. 17, par. 4460 Amends the Illinois Credit Union Act. Provides that societies, associations, clubs, partnerships, corporations, and limited liability companies in which one or more (rather than the majority) of the members, partners, or shareholders are individuals who are eligible for credit union membership may be admitted to membership in a credit union in the same manner and under the same conditions as individuals. Provides that the board of directors may appoint an individual as a registered agent for the credit union. Provides that any process, notice, or demand required or permitted by law to be served upon the credit union may be served upon the registered agent appointed by the credit union. Sets forth requirements for identification, change of registration, and resignation of registered agents for a credit union. Provides that compliance review documents and the deliberations of the board of directors are privileged and confidential and are not subject to discovery or admissible in evidence in any civil action. Provides that loan limits shall not be subject to reduction by rules (rather than loan limits shall be subject to rules). Makes other changes. Effective immediately.House Committee Amendment No. 1 Deletes reference to:205 ILCS 305/59from Ch. 17, par. 4460Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes. Provides that any members, partners, or shareholders who are ineligible for membership in the credit union shall not become eligible by virtue of the eligibility of the entity in which they hold an ownership interest. Provides that a credit union that has appointed a registered agent shall post on its website the name of its registered agent, the address of its principal place of business, and that the appointment was authorized by action of the board of directors. Provides that a registered agent may resign at any time by submitting written notice to the credit union at its principal place of business (rather than by submitting written notice to the Department). Provides that meetings, minutes of meetings, and reports of the board of directors shall be subject to the confidentiality and redaction standards set forth in the provisions. Removes language providing that the Department of Financial and Professional Regulation shall maintain a registry of credit unions that have appointed a registered agent. Removes provisions concerning privileged information. Removes provisions concerning investment of funds. Effective immediately.Senate Committee Amendment No. 1 Provides that compliance review documents may be disclosed by the Secretary of Financial and Professional Regulation or a credit union to any person or entity to whom confidential supervisory information may be disclosed pursuant to specified provisions. 2/1/2023HouseFiled with the Clerk by Rep. Jay Hoffman 2/7/2023HouseFirst Reading 2/7/2023HouseReferred to Rules Committee 2/15/2023HouseAssigned to Financial Institutions and Licensing Committee 3/3/2023HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman 3/3/2023HouseHouse Committee Amendment No. 1 Referred to Rules Committee 3/7/2023HouseHouse Committee Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee 3/7/2023HouseHouse Committee Amendment No. 1 Adopted in Financial Institutions and Licensing Committee; by Voice Vote 3/7/2023HouseDo Pass as Amended / Short Debate Financial Institutions and Licensing Committee; 012-000-000 3/8/2023HousePlaced on Calendar 2nd Reading - Short Debate 3/22/2023HouseSecond Reading - Short Debate 3/22/2023HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/23/2023HouseThird Reading - Short Debate - Passed 108-000-000 3/23/2023HouseAdded Chief Co-Sponsor Rep. Camille Y. Lilly 3/27/2023SenateArrive in Senate 3/27/2023SenatePlaced on Calendar Order of First Reading 3/27/2023SenateChief Senate Sponsor Sen. David Koehler 3/27/2023SenateFirst Reading 3/27/2023SenateReferred to Assignments 4/18/2023SenateAssigned to Financial Institutions 4/18/2023SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. David Koehler 4/18/2023SenateSenate Committee Amendment No. 1 Referred to Assignments 4/25/2023SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions 4/25/2023SenateSenate Committee Amendment No. 1 Adopted; Financial Institutions 4/26/2023SenateDo Pass as Amended Financial Institutions; 008-000-000 4/26/2023SenatePlaced on Calendar Order of 2nd Reading April 27, 2023 4/27/2023SenateSecond Reading 4/27/2023SenatePlaced on Calendar Order of 3rd Reading May 2, 2023 5/10/2023SenateThird Reading - Passed; 056-000-000 5/10/2023SenateAdded as Alternate Co-Sponsor Sen. Erica Harriss 5/10/2023SenateAdded as Alternate Co-Sponsor Sen. Terri Bryant 5/10/2023SenateAdded as Alternate Co-Sponsor Sen. Sally J. Turner 5/10/2023HouseArrived in House 5/10/2023HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1 5/10/2023HouseSenate Committee Amendment No. 1 Motion Filed Concur Rep. Jay Hoffman 5/10/2023HouseSenate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee 5/15/2023HouseSenate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 005-000-000 5/18/2023HouseSenate Committee Amendment No. 1 House Concurs 112-001-000 5/18/2023HouseHouse Concurs 5/18/2023HousePassed Both Houses 6/16/2023HouseSent to the Governor 7/28/2023HouseGovernor Approved 7/28/2023HouseEffective Date July 28, 2023 7/28/2023HousePublic Act . . . . . . . . . 103-0289