O'MALLEY AND LIGHTFORD. 205 ILCS 670/4.5 new Amends the Consumer Installment Loan Act. Defines the term "payday loan" as a loan having a term of not more than 30 days made in a transaction whereby the lender receives a check in an amount that fully satisfies the debt postdated to the maturity date of the loan. 99-02-18 S FIRST READING 99-02-18 S REFERRED TO SENATE RULES COMMITTEE RULES 99-02-24 S ASSIGNED TO COMMITTEE FIN INST 99-03-03 S ADDED AS A CO-SPONSOR LIGHTFORD 99-03-04 S TABLED BY SPONSOR SFIC 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary