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Sen. A. J. Wilhelmi
Filed: 3/25/2009
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09600SB1578sam001 |
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LRB096 11014 MJR 24448 a |
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| AMENDMENT TO SENATE BILL 1578
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| AMENDMENT NO. ______. Amend Senate Bill 1578 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Credit Agreements Act is amended by |
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| changing Section 2 as follows:
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| (815 ILCS 160/2) (from Ch. 17, par. 7102)
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| Sec. 2. Credit agreements to be in writing. A debtor may |
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| not
maintain an action on or in any way related to a credit |
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| agreement unless
the credit agreement is in writing, expresses |
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| an agreement or commitment to
lend money or extend credit or |
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| delay or forbear repayment of money, sets
forth the relevant |
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| terms and conditions, and is signed by the creditor and
the |
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| debtor. An action that does not allege or depend on the |
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| existence of a credit agreement (or the allegation that an oral |
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| promise was made to enter into a credit agreement) and which |
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| arises out of an alleged breach of a distinct statutory or |