IL HB3859

Amends the Foreign Bank Representative Office Act by narrowing the definition of "foreign bank" under 205 ILCS 650/2.

Removes from the definition banks, savings associations, and trust companies organized in any U.S. state or territory (including District of Columbia) outside of Illinois.

Removes national banks with principal place of business in any U.S. state or territory (including District of Columbia) outside of Illinois.

Retains only banks and trust companies organized and operating under the laws of countries other than the United States as "foreign banks" subject to the Act.

Becomes effective immediately upon passage.