IL SB3322 | 2009-2010 | 96th General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Engrossed on March 18 2010 - 50% progression, died in chamber
Action: 2010-11-17 - Held on Calendar Order of Second Reading - Short Debate
Text: Latest bill text (Engrossed) [HTML]
Status: Engrossed on March 18 2010 - 50% progression, died in chamber
Action: 2010-11-17 - Held on Calendar Order of Second Reading - Short Debate
Text: Latest bill text (Engrossed) [HTML]
Summary
Creates the Non-Recourse Civil Litigation Funding Act. Provides that all contracts for non-recourse civil litigation funding must meet specified criteria. Provides that the contract shall provide that the consumer may cancel the contract within 5 business days following the consumer's receipt of funds, without penalty or further obligation. Specifies the notice requirements for contracts. Contains provisions concerning the dispute of contracts. Provides that each non-recourse civil litigation funding company shall adhere to specified best practices. Contains provisions concerning (1) the sale and assignment of proceeds of legal claims and (2) the requirements for non-recourse civil litigation funding companies by the Department of Financial and Professional Regulation. Provides that the Department shall maintain a list of all non-recourse civil litigation funding companies. Contains provisions concerning the power of the Department to issue cease and desist orders. Specifies penalties for violation of the Act. Contains provisions concerning judicial review and application of the Act. Amends the Consumer Installment Loan Act to exclude non-recourse civil litigation funding. Contains a severability clause. Effective immediately.
Title
NON-RECOURSE CIV LIT FUND ACT
Sponsors
| Sen. Don Harmon [D] |
Roll Calls
2010-03-18 - Senate - Third Reading in Senate (Y: 57 N: 0 NV: 2 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2010-11-17 | Held on Calendar Order of Second Reading - Short Debate | |
| 2010-11-17 | Second Reading - Short Debate | |
| 2010-11-16 | Placed on Calendar 2nd Reading - Short Debate | |
| 2010-11-16 | Do Pass as Amended / Short Debate Judiciary I - Civil Law Committee; 010-007-000 | |
| 2010-11-16 | House Committee Amendment No. 1 Adopted in Judiciary I - Civil Law Committee; by Voice Vote | |
| 2010-11-16 | House Committee Amendment No. 1 Filed with Clerk by Judiciary I - Civil Law Committee | |
| 2010-11-10 | Assigned to Judiciary I - Civil Law Committee | |
| 2010-11-10 | Final Action Deadline Extended-9(b) January 11, 2011 | |
| 2010-04-22 | Added Alternate Co-Sponsor Rep. Linda Chapa LaVia | |
| 2010-03-25 | Added Alternate Chief Co-Sponsor Rep. Jay C. Hoffman | |
| 2010-03-18 | Referred to Rules Committee | |
| 2010-03-18 | First Reading | |
| 2010-03-18 | Placed on Calendar Order of First Reading | |
| 2010-03-18 | Chief House Sponsor Rep. Lou Lang | |
| 2010-03-18 | Arrived in House | |
| 2010-03-18 | Third Reading - Passed; 057-000-000 | |
| 2010-03-18 | Placed on Calendar Order of 3rd Reading | |
| 2010-03-18 | Senate Floor Amendment No. 1 Adopted; Harmon | |
| 2010-03-18 | Recalled to Second Reading | |
| 2010-03-16 | Senate Floor Amendment No. 1 Recommend Do Adopt Judiciary; 010-000-000 | |
| 2010-03-16 | Senate Floor Amendment No. 1 Assignments Refers to Judiciary | |
| 2010-03-15 | Senate Floor Amendment No. 1 Referred to Assignments | |
| 2010-03-15 | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Don Harmon | |
| 2010-03-11 | Placed on Calendar Order of 3rd Reading March 12, 2010 | |
| 2010-03-11 | Second Reading | |
| 2010-03-03 | Placed on Calendar Order of 2nd Reading March 4, 2010 | |
| 2010-03-03 | Do Pass Judiciary; 008-000-000 | |
| 2010-02-24 | Assigned to Judiciary | |
| 2010-02-10 | Referred to Assignments | |
| 2010-02-10 | First Reading | |
| 2010-02-10 | Filed with Secretary by Sen. Don Harmon |
