State of Illinois
91st General Assembly
Legislation

   [ Search ]   [ Legislation ]
[ Home ]   [ Back ]   [ Bottom ]

91_HB3887eng

 
HB3887 Engrossed                               LRB9111001STsb

 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.)

[ Top ]