House Sponsors: SAVIANO-SANTIAGO. Senate Sponsors: WALSH,T Short description: PROP TX CD-MORTGAGE LENDERS Synopsis of Bill as introduced: Amends the Consumer Installment Loan Act. Provides that upon written notice to the Director of Financial Institutions, a licensee may make loans by electronic or other means at off-site lending locations. HOUSE AMENDMENT NO. 1. Deletes reference to: 205 ILCS 670/7.5 new Adds reference to: 205 ILCS 670/12.5 new Replaces the substance of the bill. Authorizes licensees under the Consumer Installment Loan Act to establish limited purpose branches for the sole purpose of making loans as permitted by the Act. Effective immediately. SENATE AMENDMENT NO. 1. (Senate recedes February 19, 1998) Prohibits limited purpose branches from being located within 1,000 feet of places where gaming is conducted under the Illinois Horse Racing Act of 1975 or under the Riverboat Gambling Act. CONFERENCE COMMITTEE REPORT NO. 1. Recommends that the Senate recede from S-am 1. Recommends that the bill be further amended as follows: Deletes reference to: 205 ILCS 670/12.5 new Adds reference to: 35 ILCS 200/21-15 205 ILCS 660/10.2 from Ch. 17, par. 5225 205 ILCS 670/2 from Ch. 17, par. 5402 205 ILCS 670/4 from Ch. 17, par. 5404 205 ILCS 670/9.1 205 ILCS 690/15 205 ILCS 690/17 new 205 ILCS 690/25 205 ILCS 690/30 205 ILCS 690/37 310 ILCS 5/8 from Ch. 67 1/2, par. 158 720 ILCS 5/17-3 from Ch. 38, par. 17-3 805 ILCS 5/4.05 from Ch. 32, par. 4.05 Replaces the title and everything after the enacting clause. Amends the Property Tax Code to limit the liability of mortgage lend- ers for delinquent taxes. Amends the Sales Finance Agency Act to re- move requirement that a licensee surrender its license upon filing for bankruptcy. Amends the Consumer Installment Loan Act. Redesignates the fee for investigating the applicant as an application fee. Removes the requirement that a licensee surrender its license upon filing bankruptcy. Amends the State Housing Act and the Business Corporation Act of 1983 to remove the prohibition upon a business corporation using the word "housing" in its name. Creates the Financial Institutions Digital Signature Act. Provides that electronic or computer-generated documents have the same force and effect as a document generated by writing or other means. Authorizes the use of digital signatures by banks and customers. Amends the Criminal Code of 1961 to provide that unlawful use of a digital signature is forgery. Amends the Check Printer and Check Number Act. Requires check printers to verify street addresses rather than social security numbers. Sets forth additional acceptable forms of verification. Creates an exemption for personal computer users. Revises the bond requirement for registrants. Authorizes the Commissioner to impose civil penalties. Reduces the time a registrant must maintain verification records from 5 years to 18 months. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 90-0575 Last action date: 98-03-20 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status