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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB0060 Introduced 1/27/2011, by Sen. Ira I. Silverstein SYNOPSIS AS INTRODUCED:
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Amends the Credit Agreements Act. Repeals provisions stating that certain actions do not give rise to a claim, counter-claim, or defense by a debtor that a new credit agreement is created, unless the agreement is in writing, contains certain provisions, and is signed by the creditor and the debtor. Effective immediately.
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| | A BILL FOR |
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| | SB0060 | | LRB097 00065 DRJ 40169 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 | | (815 ILCS 160/3 rep.)
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| 5 | | Section 5. The Credit Agreements Act is amended by |
| 6 | | repealing Section 3.
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| 7 | | Section 99. Effective date. This Act takes effect upon |
| 8 | | becoming law.
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