COLLATERAL PRO-REASONABLE COST
Synopsis of Bill as introduced:
Amends the Collateral Protection Act. Provides that the cost of
collateral protection insurance must be commercially reasonable.
SENATE AMENDMENT NO. 1.
Deletes reference to:
815 ILCS 180/17 new
Adds reference to:
815 ILCS 180/5
815 ILCS 180/15
815 ILCS 180/40
Replaces the title and everything after the enacting clause.
Amends the Collateral Protection Act. Provides that collateral
includes property used to secure performance under lease agreements.
Requires the notice to disclose the initial cost of collateral
protection insurance. Effective immediately.
Last action on Bill: PUBLIC ACT.............................. 90-0035
Last action date: 97-06-27
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status