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91_SB0267
LRB9104968KSdv
1 AN ACT to amend the Criminal Code of 1961 by changing
2 Section 39-1.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Criminal Code of 1961 is amended by
6 changing Section 39-1 as follows:
7 (720 ILCS 5/39-1) (from Ch. 38, par. 39-1)
8 Sec. 39-1. Criminal Usury.
9 (a) A Any person commits criminal usury when, in
10 exchange for either a loan of money or other property or
11 forbearance from the collection of such a loan, he or she
12 knowingly contracts for or receives from an individual,
13 directly or indirectly, interest, discount or other
14 consideration at a rate greater than 20% per annum either
15 before or after the maturity of the loan.
16 (b) When a person has in his personal or constructive
17 possession records, memoranda, or other documentary record of
18 usurious loans it shall be prima facie evidence that he has
19 violated Subsection 39-1(a) hereof.
20 (Source: P.A. 76-1879.)