Bill Status of SB 2480   96th General Assembly

Short Description:  DEBT RELIEF CONSUMER PRO ACT

Senate Sponsors
Sen. Iris Y. Martinez-Jacqueline Y. Collins-Kimberly A. Lightford-Linda Holmes

Last Action  View All Actions

DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 105/6z-26
205 ILCS 665/Act title
205 ILCS 665/1from Ch. 17, par. 5301
205 ILCS 665/2from Ch. 17, par. 5302
205 ILCS 665/3from Ch. 17, par. 5303
205 ILCS 665/4from Ch. 17, par. 5304
205 ILCS 665/5from Ch. 17, par. 5305
205 ILCS 665/6from Ch. 17, par. 5306
205 ILCS 665/7from Ch. 17, par. 5307
205 ILCS 665/10from Ch. 17, par. 5310
205 ILCS 665/10.1 new
205 ILCS 665/10.2 new
205 ILCS 665/10.3 new
205 ILCS 665/10.4 new
205 ILCS 665/11from Ch. 17, par. 5311
205 ILCS 665/11.5
205 ILCS 665/12from Ch. 17, par. 5312
205 ILCS 665/12.1
205 ILCS 665/13from Ch. 17, par. 5313
205 ILCS 665/13.2 new
205 ILCS 665/13.3 new
205 ILCS 665/13.8 new
205 ILCS 665/14from Ch. 17, par. 5314
205 ILCS 665/15.1from Ch. 17, par. 5316
205 ILCS 665/15.3from Ch. 17, par. 5318
205 ILCS 665/16from Ch. 17, par. 5319
205 ILCS 665/17from Ch. 17, par. 5320
205 ILCS 665/20.5
205 ILCS 665/22from Ch. 17, par. 5325
215 ILCS 158/5
805 ILCS 105/103.05from Ch. 32, par. 103.05

Synopsis As Introduced
Amends the Debt Management Service Act and renames the Act to the Debt Relief and Consumer Protection Act, including all cross-references in various other Acts. Changes the requirements for a license to include someone who operates a debt relief service (instead of debt management service). Changes the requirements concerning the (1) application for, (2) qualification for, (3) examination of, (4) renewal of, (5) fees for, and (6) revocation or suspension of a license from the Department of Financial and Professional Regulation. Changes provisions concerning the display and location of a license. Adds provisions concerning a written debt relief agreement between a debtor and licensee. Adds (1) disclosure requirements, (2) required terms, (3) accounting, and (4) the debtor's right to cancel with respect to debt relief services. Changes provisions concerning prohibited actions by a licensee. Adds provisions concerning the advertisement and solicitation of debt relief services. Requires the Department to post an annual report concerning debt relief agencies. Makes other changes. Effective immediately.

Actions 
DateChamber Action
  10/15/2009SenateFiled with Secretary by Sen. Iris Y. Martinez
  10/15/2009SenateFirst Reading
  10/15/2009SenateReferred to Assignments
  10/15/2009SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  12/10/2009SenateAdded as Chief Co-Sponsor Sen. Kimberly A. Lightford
  2/10/2010SenateAssigned to Financial Institutions
  2/10/2010SenateAdded as Chief Co-Sponsor Sen. Linda Holmes
  3/3/2010SenatePostponed - Financial Institutions
  3/5/2010SenateRule 2-10 Committee Deadline Established As March 19, 2010
  3/8/2010SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Iris Y. Martinez
  3/8/2010SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/9/2010SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  3/17/2010SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Terry Link
  3/17/2010SenateSenate Committee Amendment No. 2 Referred to Assignments
  3/17/2010SenateSenate Committee Amendment No. 1 Postponed - Financial Institutions
  3/17/2010SenatePostponed - Financial Institutions
  3/19/2010SenateRule 2-10 Committee/3rd Reading Deadline Established As April 15, 2010
  4/15/2010SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  4/15/2010SenateRule 3-9(a) / Re-referred to Assignments
  1/12/2011SenateSession Sine Die

Back To Top