IL SB3442

Amends the Illinois Banking Act Section 3 concerning the formation and primary powers of banks.

Makes a technical grammatical change by removing a duplicate word ("the") in the section describing lawful bank formation.

Maintains existing provisions allowing banks to engage in discount, deposit, buying and selling exchange, and general banking operations.

Preserves bank authority to loan money on personal and real estate security and to accept trusts under the Corporate Fiduciary Act.

Clarifies that "real estate" includes manufactured homes as defined in the Uniform Commercial Code and the Conveyance and Encumbrance of Manufactured Homes Act.