HB3935sam001 97TH GENERAL ASSEMBLY

Sen. William R. Haine

Filed: 4/18/2012

09700HB3935sam001 LRB097 15548 JLS 68524 a

AMENDMENT TO HOUSE BILL 3935

AMENDMENT NO. ______. Amend House Bill 3935 as follows:

on page 1, line 5, by replacing "Section 20" with "Sections 11 and 20"; and

on page 1, by inserting immediately below line 5 the following:

"(205 ILCS 670/11) (from Ch. 17, par. 5411)

Sec. 11. Books and records - Reports.

(a) Every licensee shall retain and use in his business or at another location approved by the Director such records as are required by the Director to enable the Director to determine whether the licensee is complying with the provisions of this Act and the rules and regulations promulgated pursuant to this Act. Every licensee shall preserve the records of any loan for at least 2 years after making the final entry for such loan. Accounting systems maintained in whole or in part by mechanical or electronic data processing methods which provide information equivalent to that otherwise required and follow generally accepted accounting principles are acceptable for that purpose, if approved by the Director in writing.

(b) Each licensee shall annually, on or before the first day of March, file a report with the Director giving such relevant information as the Director may reasonably require concerning the business and operations during the preceding calendar year of each licensed place of business conducted by the licensee. The report must be received by the Department on or before March 1. The report shall be made under oath and in a form prescribed by the Director. Whenever a licensee operates 2 or more licensed offices or whenever 2 or more affiliated licensees operate licensed offices, a composite report of such group of licensed offices may be filed in lieu of individual reports. The Director may make and publish annually an analysis and recapitulation of such reports. The Director may fine each licensee $25 for each day beyond March 1 such report is filed.

(c) Each licensee shall include in the report filed on or before the first day of March of each year in accordance with subsection (b) of this Section the following information:

(1) the number of post-judgment body attachment orders issued in civil actions initiated by the licensee and arising from loans made by the licensee under this Act;

(2) for any post-judgment body attachment order reported under paragraph (1) of this subsection, the court and case number in which the body attachment order was issued;

(3) for any post-judgment body attachment order reported under paragraph (1) of this subsection, the amount of the cash bond, if any, posted by the judgment debtor; and

(4) for any post-judgment body attachment order reported under paragraph (1) of this subsection, a copy of the order, if any, providing for the disposition of the cash bond.

(Source: P.A. 92-398, eff. 1-1-02.)"; and

on page 2, line 17, after the period, by inserting "For the purposes of this subsection (d), a loan made to an Illinois consumer at a brick and mortar location in a state other than Illinois is not a loan made pursuant to this Act."; and

on page 2, immediately below line 18, by inserting the following:

"Section 8. The Collection Agency Act is amended by adding Section 8d as follows:

(225 ILCS 425/8d new)

Sec. 8d. Post-judgment body attachment orders.

(a) Each licensee shall annually, on or before May 31, file a report with the Secretary containing the following information for the previous calendar year:

(1) the number of post-judgment body attachment orders issued in civil actions initiated by the licensee;

(2) for any post-judgment body attachment order reported under paragraph (1) of this subsection, the court and case number in which the body attachment order was issued;

(3) for any post-judgment body attachment order reported under paragraph (1) of this subsection, the amount of the cash bond, if any, posted by the judgment debtor; and

(4) for any post-judgment body attachment order reported under paragraph (1) of this subsection, a copy of the order, if any, providing for the disposition of the cash bond.

(b) The Secretary may fine each licensee $25 for each day beyond May 31 that the report is not filed."; and

on page 6, line 26, after the period, by inserting "For the purposes of this subsection (h), a loan made to an Illinois consumer at a brick and mortar location in a state other than Illinois is not a loan made pursuant to this Act.".