Sec. 0.4. Purpose; effect on Executive Order.

163 words·~1 min read·/il/chapter-20/act-3205/0-4

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)It is the purpose of this amendatory Act of 1996 to change the name of the office of the Commissioner of Banks and Trust Companies to the Office of Banks and Real Estate and to transfer to it the rights, powers, duties, and functions of the Office of the Commissioner of Savings and Residential Finance. This amendatory Act consolidates and centralizes the programs and services now offered to citizens by those agencies and is intended to result in more effective operation of those programs and services.

(b)This amendatory Act of 1996 supersedes Executive Order Number 1

(1996)in its entirety, and the Order is of no force or effect. Anything contained in Executive Order Number 1

(1996)that is inconsistent with or not included in this amendatory Act of 1996 shall be deemed contrary to the intent and effect of this Act, is superseded by this Act, and is of no force or effect.