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| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB2541 Introduced 2/18/2015, by Rep. Monique D. Davis SYNOPSIS AS INTRODUCED:
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Amends the Credit Card Issuance Act. Provides that a credit card issuer may not automatically renew a credit card that has not been used to perform a credit card transaction within the 12 months immediately preceding the renewal.
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| | A BILL FOR |
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| | HB2541 | | LRB099 09927 JLS 30143 b |
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| 1 | | AN ACT concerning business.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Credit Card Issuance Act is amended by |
| 5 | | adding Section 7.3 as follows:
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| 6 | | (815 ILCS 140/7.3 new) |
| 7 | | Sec. 7.3. Automatic renewals limited. A credit card issuer |
| 8 | | may not renew a credit card that has not been used to perform a |
| 9 | | credit card transaction within the 12 months immediately |
| 10 | | preceding the renewal without the written consent of the person |
| 11 | | to whom the credit card is issued.
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