102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB1015

 

Introduced 2/17/2021, by Rep. Emanuel Chris Welch

 

SYNOPSIS AS INTRODUCED:
 
815 ILCS 160/3.1

    Amends the Credit Agreements Act. Makes a technical change in a Section concerning a creditor's liability.


LRB102 03028 KTG 13041 b

 

 

A BILL FOR

 

HB1015LRB102 03028 KTG 13041 b

1    AN ACT concerning business.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Credit Agreements Act is amended by
5changing Section 3.1 as follows:
 
6    (815 ILCS 160/3.1)
7    Sec. 3.1. Liability; privity of contract. No creditor
8shall be liable to a person not in privity of contract with the
9the creditor for civil damages arising out of a credit
10agreement, or any conditions precedent thereto, except for
11acts or conduct by the creditor that constitute fraud against
12the person.
13(Source: P.A. 89-309, eff. 8-11-95.)