| |||||||
| |||||||
| |||||||
| 1 | AMENDMENT TO HOUSE BILL 3091
| ||||||
| 2 | AMENDMENT NO. ______. Amend House Bill 3091 on page 2 by | ||||||
| 3 | inserting immediately below line 20 the following:
| ||||||
| 4 | "Section 10. The Rental-Purchase Agreement Act is amended | ||||||
| 5 | by 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.".
| ||||||