Illinois General Assembly - Bill Status for HB 2963

Bill Status of HB 2963 93rd General Assembly

Short Description: CONS INSTALL PAYDAY LOANS

House Sponsors
Rep. Robert Rita and Patrick Verschoore

Last Action View All Actions

Date Chamber Action
  1/11/2005 House Session Sine Die

Statutes Amended In Order of Appearance
205 ILCS 670/1.5 new
205 ILCS 670/15f new
205 ILCS 670/17.1 new
205 ILCS 670/17.2 new
205 ILCS 670/17.3 new
205 ILCS 670/17.4 new
205 ILCS 670/17.5 new
205 ILCS 670/17.6 new
205 ILCS 670/17.7 new
205 ILCS 670/17.8 new
205 ILCS 670/17.9 new
205 ILCS 670/17.10 new
205 ILCS 670/17.11 new
205 ILCS 670/17.12 new
205 ILCS 670/17.13 new
205 ILCS 670/17.14 new
205 ILCS 670/17.15 new
205 ILCS 670/17.16 new
205 ILCS 670/17.17 new
205 ILCS 670/17.18 new
205 ILCS 670/17.19 new
205 ILCS 670/17.20 new
205 ILCS 670/17.21 new
205 ILCS 670/17.22 new
205 ILCS 670/17.23 new

Synopsis As Introduced
Amends the Consumer Installment Loan Act. Sets forth terms and conditions under which licensees may engage in making short-term loans. Provides that interest on these loans must be computed as simple interest. Requires licensees to provide information about debt management services to borrowers before entering into a short-term loan agreement. Establishes notice requirements for defaults by a borrower. Limits property in which a licensee may take a security interest to the check or motor vehicle title tendered to the licensee at the time of the loan transaction. Provides procedures for taking possession of motor vehicles. Effective immediately.

Actions
Date Chamber Action
  2/21/2003 House Filed with the Clerk by Rep. Robert Rita
  2/21/2003 House First Reading
  2/21/2003 House Referred to Rules Committee
  2/26/2003 House Assigned to Financial Institutions Committee
  3/12/2003 House Do Pass / Short Debate Financial Institutions Committee; 018-000-000
  3/12/2003 House Placed on Calendar 2nd Reading - Short Debate
  3/25/2003 House House Amendment No. 1 Filed with Clerk by Rep. Robert Rita
  3/25/2003 House House Amendment No. 1 Referred to Rules Committee
  4/2/2003 House Added Co-Sponsor Rep. Patrick Verschoore
  4/3/2003 House Second Reading - Short Debate
  4/3/2003 House Held on Calendar Order of Second Reading - Short Debate
  4/4/2003 House House Amendment No. 1 Recommends Be Adopted Rules Committee; 003-000-000
  4/4/2003 House Rule 19(a) / Re-referred to Rules Committee
  1/11/2005 House Session Sine Die

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Date	Chamber	Action
2/21/2003	House	Filed with the Clerk by Rep. Robert Rita
2/21/2003	House	First Reading
2/21/2003	House	Referred to Rules Committee
2/26/2003	House	Assigned to Financial Institutions Committee
3/12/2003	House	Do Pass / Short Debate Financial Institutions Committee; 018-000-000
3/12/2003	House	Placed on Calendar 2nd Reading - Short Debate
3/25/2003	House	House Amendment No. 1 Filed with Clerk by Rep. Robert Rita
3/25/2003	House	House Amendment No. 1 Referred to Rules Committee
4/2/2003	House	Added Co-Sponsor Rep. Patrick Verschoore
4/3/2003	House	Second Reading - Short Debate
4/3/2003	House	Held on Calendar Order of Second Reading - Short Debate
4/4/2003	House	House Amendment No. 1 Recommends Be Adopted Rules Committee; 003-000-000
4/4/2003	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2005	House	Session Sine Die