102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB0743

 

Introduced 2/10/2021, by Rep. Jonathan Carroll

 

SYNOPSIS AS INTRODUCED:
 
205 ILCS 660/10.6 new

    Amends the Sales Finance Agency Act to provide that a sales finance agency shall not finance, enter into a retail installment contract, or make a loan for the purchase of a companion animal as defined by the Humane Care for Animals Act. Provides that if a sales finance agency violates the provisions of the Section, the financing, retail installment contract, or loan shall be null and void and the sales finance agency shall have no right to collect, receive, or retain any principal, interest, or charges related to the loan, retail installment contract, or financing.


LRB102 10493 BMS 15822 b

 

 

A BILL FOR

 

HB0743LRB102 10493 BMS 15822 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Sales Finance Agency Act is amended by
5adding Section 10.6 as follows:
 
6    (205 ILCS 660/10.6 new)
7    Sec. 10.6. Companion animals. A licensee shall not
8finance, enter into a retail installment contract, or make a
9loan for the purchase of a companion animal as defined by
10Section 2.01a of the Humane Care for Animals Act.
11Notwithstanding any other provision of this Act, if a lender
12violates this Section, the financing, retail installment
13contract, or loan shall be null and void and the licensee shall
14have no right to collect, receive, or retain any principal,
15interest, or charges related to the loan, retail installment
16contract, or financing.