SB1014eng 93rd General Assembly


SB1014 Engrossed                     LRB093 03084 NHT 03101 b

 1        AN ACT in relation to education.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Higher Education Student  Assistance  Act
 5    is amended by changing Section 91 as follows:

 6        (110 ILCS 947/91)
 7        Sec.  91.  Default;  notice  to  Secretary of State.  The
 8    Commission shall establish by rule mutually agreed procedures
 9    to furnish the  Secretary  of  State  annually  or  at  other
10    mutually  agreed periodic intervals with the names and social
11    security  numbers  of  natural  persons  who  the  Commission
12    determines are registered with  the  Secretary  of  State  as
13    dealers,   salespersons  or  investment  advisers  under  the
14    Illinois Securities Law of 1953  and  have  defaulted  on  an
15    educational loan guaranteed by the Commission.
16    (Source: P.A. 88-494.)