Sec. 18. Banking and automated teller machine services.

326 words·~1 min read·/il/chapter-15/act-505/18

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(a)The Treasurer may enter into written agreements with financial institutions for the provision of banking services at the State Capitol and with automated teller machine providers for the provision of automated teller machine services at State office buildings, State parks, State tourism centers, and State fairs at Springfield and DuQuoin. The Treasurer shall establish competitive procedures for the selection of financial institutions and automated teller machine providers to provide the services authorized under this Section. No State agency may procure services authorized by this Section without the approval of the Treasurer.

(b)The Treasurer shall enter into written agreements with the authorities having jurisdiction of the property where the services are intended to be provided. These agreements shall include, but need not be limited to, the quantity of machines to be located at the property and the exact location of the service or machine and shall establish responsibility for payment of expenses incurred in locating the machine or service.

(c)The Treasurer's agreement with a financial institution or automated teller machine providers may authorize the financial institution or automated teller machine providers to provide any or all of the banking services that the financial institution or automated teller machine providers is otherwise authorized by law to provide to the public.

The Treasurer's agreement with a financial institution or automated teller machine providers shall establish the amount of compensation to be paid by the financial institution. The financial institution or automated teller machine providers shall pay the compensation to the Treasurer in accordance with the terms of the agreement. The Treasurer shall deposit moneys received under this Section into the State Treasurer's Bank Services Trust Fund.

(d)This Section does not apply to a State office building in which a currency exchange or a credit union providing financial services located in the building on July 1, 1995 (the effective date of Public Act 88-640) is operating.

(e)(Blank).