Illinois General Assembly - Full Text of HB0907

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Full Text of HB0907 98th General Assembly

Introduced
House Amendment 001
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HB0907ham001 98TH GENERAL ASSEMBLY
Rep. Brandon W. Phelps
Filed: 3/22/2013

09800HB0907ham001 LRB098 03750 MLW 43261 a

1 AMENDMENT TO HOUSE BILL 907
2     AMENDMENT NO. ______. Amend House Bill 907 by replacing
3 everything after the enacting clause with the following:

4     "Section 5. The Rental-Purchase Agreement Act is amended by
5 adding Section 1.5 as follows:

6     (815 ILCS 655/1.5 new)
7     Sec. 1.5. Construction of Act. A rental-purchase agreement
8 shall not be governed by laws relating to, nor construed to be:
9         (1) a retail installment transaction, as defined in the
10     Retail Installment Sales Act; or
11         (2) a lease or agreement that constitutes a security
12     interest, as defined in Section 1-201 or 1-203 of the
13     Uniform Commercial Code.".

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