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SB1533 - 104th General Assembly
MOTOR VEHICLE SALES-LIABILITY
Last Action
Statutes Amended In Order of Appearance
815 ILCS 375/18from Ch. 121 1/2, par. 578
Synopsis As Introduced
Amends the Motor Vehicle Retail Installment Sales Act. Provides that each person, other than a seller or holder, who signs a retail installment contract may be held liable only to the extent that he actually receives the motor vehicle described or identified in the contract, except that a parent or spouse or any other person who co-signs such retail installment contract (rather than any other person listed as an owner of the motor vehicle on the Certificate of Title issued for the motor vehicle who co-signs such retail installment contract) may be held liable to the full extent of the deferred payment price notwithstanding such parent or spouse or any other person listed as an owner has not actually received the motor vehicle described or identified in the contract and except to the extent such person other than a seller or holder, signs in the capacity of a guarantor of collection.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/04/2025 | Senate | Filed with Secretary by Sen. Patrick J. Joyce |
| 2/04/2025 | Senate | First Reading |
| 2/04/2025 | Senate | Referred to Assignments |