Illinois Senate Bill 2244 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 20 2009 - 25% progression, died in committee
Action: 2009-04-03 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Creates the Debt Settlement Act. Provides that no person shall engage in the business of debt settlement in the State without a license. Provides that an applicant for a license to engage in the business of debt settlement shall file an application with the Director of the Division of Financial Institutions of the Department of Financial and Professional Regulation that contains specified provisions. Contains provisions concerning the renewal of licenses. Requires a licensee to create, maintain, and preserve accurate and complete books relating to the licensee's business. Contains provisions concerning contract fees. Provides for debt settlement contract requirements. Specifies the functions required to be performed and acts that are prohibited by a debt settlement provider. Provides that without limiting the generality of the Act and other applicable laws, the debt settlement provider, manager, or an employee of the debt settlement provider (except a licensed attorney who provides legal services in an attorney-client relationship or who is otherwise authorized to practice law in the State) shall not perform specified actions. Provides that the Attorney General or the prosecuting attorney of any county within the State may bring an action in the name of the State against any person to restrain and prevent any violation of the Act and specifies penalties for violations of the Act.

DEBT SETTLEMENT ACT

Sen. Chris Lauzen [R]

Date	Chamber	Action
2009-04-03		Rule 3-9(a) / Re-referred to Assignments
2009-03-16		Rule 2-10 Committee Deadline Established As April 3, 2009
2009-03-04		Assigned to Financial Institutions
2009-02-20		Referred to Assignments
2009-02-20		First Reading
2009-02-20		Filed with Secretary by Sen. Chris Lauzen

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2244&GAID=10&DocTypeID=SB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/SB/09600SB2244.htm