State of Illinois
91st General Assembly
Legislation

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91_HB3608eng

 
HB3608 Engrossed                               LRB9112502STsb

 1        AN ACT to amend the Interest Act.

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

 4        Section 5.  The  Interest  Act  is  amended  by  changing
 5    Section 1 as follows:

 6        (815 ILCS 205/1) (from Ch. 17, par. 6401)
 7        Sec.  1.  Rate of interest. The rate of interest upon the
 8    loan or forbearance of any money, goods or thing  in  action,
 9    shall  be  five  dollars ($5) upon one hundred dollars ($100)
10    for one year, and after that rate for a greater or less  sum,
11    or for a longer or shorter time, except as herein provided.
12    (Source: Laws 1891, p. 149.)

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