HASSERT-BRADLEY-PERSICO-BUGIELSKI. (O'MALLEY) 205 ILCS 660/2 from Ch. 17, par. 5202 205 ILCS 660/3 from Ch. 17, par. 5203 205 ILCS 660/4 from Ch. 17, par. 5204 205 ILCS 660/5 from Ch. 17, par. 5205 205 ILCS 660/6 from Ch. 17, par. 5206 205 ILCS 660/7 from Ch. 17, par. 5207 205 ILCS 660/8 from Ch. 17, par. 5208 205 ILCS 660/8.1 from Ch. 17, par. 5209 205 ILCS 660/8.2 from Ch. 17, par. 5210 205 ILCS 660/8.3 from Ch. 17, par. 5211 205 ILCS 660/8.4 from Ch. 17, par. 5212 205 ILCS 660/8.6 from Ch. 17, par. 5214 205 ILCS 660/8.8 from Ch. 17, par. 5216 205 ILCS 660/8.9 from Ch. 17, par. 5217 205 ILCS 660/8.10 from Ch. 17, par. 5218 205 ILCS 660/8.11 from Ch. 17, par. 5219 205 ILCS 660/8.13 from Ch. 17, par. 5221 205 ILCS 660/8.14 new 205 ILCS 660/10 from Ch. 17, par. 5223 205 ILCS 660/10.1 from Ch. 17, par. 5224 205 ILCS 660/10.2 from Ch. 17, par. 5225 205 ILCS 660/11 from Ch. 17, par. 5229 205 ILCS 660/12 from Ch. 17, par. 5230 205 ILCS 660/13 from Ch. 17, par. 5231 205 ILCS 660/14 from Ch. 17, par. 5232 205 ILCS 660/15 from Ch. 17, par. 5233 205 ILCS 660/15.5 new 205 ILCS 660/16.5 new 205 ILCS 660/18 new 205 ILCS 660/19 new 205 ILCS 660/20 new 205 ILCS 660/8.7 rep. 205 ILCS 660/9 rep. 205 ILCS 660/10.5 rep. 205 ILCS 660/16 rep. 205 ILCS 670/Act title 205 ILCS 670/1 from Ch. 17, par. 5401 205 ILCS 670/2 from Ch. 17, par. 5402 205 ILCS 670/4 from Ch. 17, par. 5404 205 ILCS 670/5 from Ch. 17, par. 5405 205 ILCS 670/7 from Ch. 17, par. 5407 205 ILCS 670/8 from Ch. 17, par. 5408 205 ILCS 670/9 from Ch. 17, par. 5409 205 ILCS 670/9.1 new 205 ILCS 670/10 from Ch. 17, par. 5410 205 ILCS 670/11 from Ch. 17, par. 5411 205 ILCS 670/12 from Ch. 17, par. 5412 205 ILCS 670/12.5 new 205 ILCS 670/13 from Ch. 17, par. 5413 205 ILCS 670/14 from Ch. 17, par. 5414 205 ILCS 670/15 from Ch. 17, par. 5415 205 ILCS 670/15a from Ch. 17, par. 5416 205 ILCS 670/15b from Ch. 17, par. 5417 205 ILCS 670/15d from Ch. 17, par. 5419 205 ILCS 670/15e from Ch. 17, par. 5419.1 205 ILCS 670/16 from Ch. 17, par. 5420 205 ILCS 670/17 from Ch. 17, par. 5423 205 ILCS 670/18 from Ch. 17, par. 5424 205 ILCS 670/19.1 from Ch. 17, par. 5425.1 205 ILCS 670/19.5 new 205 ILCS 670/20 from Ch. 17, par. 5426 205 ILCS 670/20.5 new 205 ILCS 670/20.7 new 205 ILCS 670/21 from Ch. 17, par. 5427 205 ILCS 670/22 from Ch. 17, par. 5428 205 ILCS 670/23 from Ch. 17, par. 5429 205 ILCS 670/24.5 new 205 ILCS 670/3 rep. 205 ILCS 670/4.1 rep. 205 ILCS 670/6 rep. 205 ILCS 670/19 rep. 205 ILCS 670/24 rep. 815 ILCS 375/2 from Ch. 121 1/2, par. 562 815 ILCS 375/2.5 from Ch. 121 1/2, par. 562.5 815 ILCS 375/2.7 from Ch. 121 1/2, par. 562.7 815 ILCS 375/2.9 from Ch. 121 1/2, par. 562.9 815 ILCS 375/2.11 from Ch. 121 1/2, par. 562.11 815 ILCS 375/2.12 from Ch. 121 1/2, par. 562.12 815 ILCS 375/2.14 new 815 ILCS 375/2.15 new 815 ILCS 375/3 from Ch. 121 1/2, par. 563 815 ILCS 375/4 from Ch. 121 1/2, par. 564 815 ILCS 375/5 from Ch. 121 1/2, par. 565 815 ILCS 375/6 from Ch. 121 1/2, par. 566 815 ILCS 375/7 from Ch. 121 1/2, par. 567 815 ILCS 375/8 from Ch. 121 1/2, par. 568 815 ILCS 375/9 from Ch. 121 1/2, par. 569 815 ILCS 375/9.02 from Ch. 121 1/2, par. 569.02 815 ILCS 375/9.03 new 815 ILCS 375/10 from Ch. 121 1/2, par. 570 815 ILCS 375/11 from Ch. 121 1/2, par. 571 815 ILCS 375/11.2 new 815 ILCS 375/13 from Ch. 121 1/2, par. 573 815 ILCS 375/15 from Ch. 121 1/2, par. 575 815 ILCS 375/17.1 new 815 ILCS 375/20 from Ch. 121 1/2, par. 580 815 ILCS 375/21 from Ch. 121 1/2, par. 581 815 ILCS 375/24 from Ch. 121 1/2, par. 584 815 ILCS 405/2 from Ch. 121 1/2, par. 502 815 ILCS 405/2.9 from Ch. 121 1/2, par. 502.9 815 ILCS 405/2.11 from Ch. 121 1/2, par. 502.11 815 ILCS 405/2.13 from Ch. 121 1/2, par. 502.13 815 ILCS 405/2.16 new 815 ILCS 405/2.17 new 815 ILCS 405/3 from Ch. 121 1/2, par. 503 815 ILCS 405/5 from Ch. 121 1/2, par. 505 815 ILCS 405/6 from Ch. 121 1/2, par. 506 815 ILCS 405/7 from Ch. 121 1/2, par. 507 815 ILCS 405/8 from Ch. 121 1/2, par. 508 815 ILCS 405/9 from Ch. 121 1/2, par. 509 815 ILCS 405/11 from Ch. 121 1/2, par. 511 815 ILCS 405/11.1 new 815 ILCS 405/12 from Ch. 121 1/2, par. 512 815 ILCS 405/12.1 new 815 ILCS 405/13 from Ch. 121 1/2, par. 513 815 ILCS 405/14 from Ch. 121 1/2, par. 514 815 ILCS 405/21 from Ch. 121 1/2, par. 521 815 ILCS 405/23.1 new 815 ILCS 405/24 from Ch. 121 1/2, par. 524 815 ILCS 405/27 from Ch. 121 1/2, par. 527 815 ILCS 405/28 from Ch. 121 1/2, par. 528 815 ILCS 405/31 from Ch. 121 1/2, par. 531 Amends the Sales Finance Agency Act and the Consumer Installment Loan Act. Amends provisions regarding application and renewal of licenses, suspension and revocation of licenses, and ceasing operations under these Acts. Provides that a claim for a violation of these Acts may be asserted in an individual action. Makes provision for the Director of the Department of Financial Institutions to issue cease and desist orders or to petition the circuit court for an injunction, penalties, and costs. Amends the Consumer Installment Loan Act regarding loss insurance on secured property and provides that the parties may agree to submit disputes to arbitration; permits loans up to $25,000 (now $10,000). Makes other changes to these Acts. Amends the Motor Vehicle Retail Installment Sales Act and the Retail Installment Sales Act. Provides that the parties may agree to submit disputes to arbitration and amends provisions regarding loss insurance on secured property. Provides that a claim for a violation of these Acts may be asserted in an individual action. Changes some fees licensees may charge under this Act. Makes other changes. FISCAL NOTE (Dpt. Financial Institutions) There would be no fiscal impact on the Department. SENATE AMENDMENT NO. 1. Deletes reference to: 815 ILCS 375/24 815 ILCS 405/31 Adds reference to: 815 ILCS 205/4a from Ch. 17, par. 6410 Makes a number of changes to correct technical errors and to revise certain terminology. Further amends the Consumer Installment Loan Act to restrict placement of a limited purpose branch. Further amends the Motor Vehicle Retail Installment Sales Act and the Retail Installment Sales Act in provisions regarding required disclosures in retail installment contracts to provide that the contract need not disclose to an obligor any agreement to sell, assign, or otherwise transfer the contract to a third party or the amount of any compensation to be paid to the seller or the person who originated the contract or how the compensation is determined. Deletes from these Acts changes that permit individual actions for violations. Makes other changes. Amends the Interest Act in provisions regarding interest rates on installment loans to remove the exception to the limit on the rate of interest which may be received or contracted to be received and collected by any lender licensed under the Sales Finance Agency Act. SENATE AMENDMENT NO. 2. Deletes reference to: 205 ILCS 670/3 rep. 205 ILCS 670/19.5 815 ILCS 375/3 815 ILCS 405/3 Further amends the Sales Finance Agency Act. Changes provisions from authorizing an individual action for violations of this Act to provisions authorizing a civil action, and provides that the court may award attorney's fees and costs. Further amends the Consumer Installment Loan Act. Removes new provisions providing for arbitration of contract disputes. Restores provisions allowing obligors to recover reasonable attorney's fees and court costs for violations of certain provisions of the Act. Changes provisions authorizing an individual action for violations of this Act to provisions authorizing a civil action. Further amends the Motor Vehicle Retail Installment Sales Act and the Retail Installment Sales Act. Removes changes to provisions regarding general requirements of a contract under these Acts. Provides that a buyer may obtain a cash refund at the seller's or holder's location in certain cases. Restores provisions that the court may award attorney's fees to either party as the interests of justice may require. In the Retail Installment Sales Act also restores provisions authorizing the acceleration of the contract by the seller in some cases of buyer fault. 97-03-10 H FIRST READING 97-03-10 H ADDED AS A JOINT SPONSOR KOTLARZ 97-03-10 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-03-11 H ASSIGNED TO COMMITTEE FIN INSTIT 97-03-12 H ADDED AS A CO-SPONSOR PERSICO 97-03-19 H DO PASS/SHORT DEBATE 027-000-000 HFIN 97-03-19 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-03-20 H FISCAL NOTE FILED 97-03-20 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-03-20 H SECOND READING-SHORT DEBATE 97-03-20 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-04-10 H RECALLED TO SECOND READING-SHORT DEBATE 97-04-10 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 97-04-12 H ADDED AS A CO-SPONSOR BUGIELSKI 97-04-14 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-04-16 H THIRD READING/SHORT DEBATE/PASSED 112-004-000 97-04-17 S ARRIVE IN SENATE 97-04-17 S PLACED CALENDAR ORDER OF FIRST READING 97-04-23 97-04-23 S CHIEF SPONSOR O'MALLEY 97-04-24 S FIRST READING 97-04-24 S REFERRED TO SENATE RULES COMMITTEE RULES 97-04-25 S ASSIGNED TO COMMITTEE FIN INST 97-05-08 S AMENDMENT NO. 01-FINANC. INST. S 97-05-08 S ADOPTED 97-05-08 S DO PASS AS AMENDED 009-000-000 SFIC 97-05-08 S PLACED ON CALENDAR ORDER OF 2ND READING 97-05-09 97-05-09 S SECOND READING 97-05-09 S PLACED ON CALENDAR ORDER OF 3RD READING 97-05-12 97-05-15 S FILED WITH SECRETARY 97-05-15 S AMENDMENT NO. 02-O'MALLEY 97-05-15 S AMENDMENT REFERRED TO SRUL 97-05-15 S AMENDMENT NO. 02-O'MALLEY 97-05-15 S RULES REFERS TO SFIC 97-05-16 S AMENDMENT NO. 02-O'MALLEY 97-05-16 S BE ADOPTED SFIC/008-000-001 97-05-16 S RECALLED TO SECOND READING 97-05-16 S AMENDMENT NO. 02-O'MALLEY 97-05-16 S ADOPTED 97-05-16 S PLACED ON CALENDAR ORDER OF 3RD READING 97-05-16 97-05-16 S THIRD READING - PASSED 055-000-003 97-05-16 H ARRIVE IN HOUSE 97-05-16 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01,02 97-05-17 H MOTION FILED CONCUR 01,02/HASSERT 97-05-17 H REFERRED TO RULES COMMITTEE/RULE 75(A) 01,02 97-05-17 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01,02 97-05-19 H MOTION REFERRED TO 01,02/HFIN 97-05-19 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01,02 97-05-21 H BE APPROVED FOR CONSIDERATION 01/022-000-000 97-05-21 H BE APPROVED FOR CONSIDERATION 02/022-000-000 97-05-21 H HSE CONCURS IN SEN AMENDMENTS (NO.) 01,02/095-021-001 97-05-21 H PASSED BOTH HOUSES 97-06-19 H SENT TO THE GOVERNOR 97-08-16 H GOVERNOR APPROVED 97-08-16 H EFFECTIVE DATE 98-01-01 97-08-16 H PUBLIC ACT.............................. 90-0437 END OF INQUIRY Full Text Bill Summary