Bill Title: Creates the Guaranteed Asset Protection Waiver Act. Establishes standards to regulate persons offering guaranteed asset protection waivers. Provides for a period of time of at least 30 days from the effective date of the guaranteed asset protection waiver until the date the borrower may cancel the contract without penalty, fees, or costs to the borrower. Amends the Illinois Insurance Code to exempt guaranteed asset protection waivers from regulation as insurance.

Spectrum: Slight Partisan Bill (Democrat 4-2)

Status: (Engrossed - Dead) 2017-01-10 - Senate Floor Amendment No. 1 Postponed - State Government and Veterans Affairs [HB5907 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Engrossed	2016-04-20	HTML/Text	Link	View
Introduced	2016-02-11	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
Senate Amendment 001	2017-01-09	Proposed	HTML/Text	Link	View
House Amendment 002	2016-04-13	Proposed	HTML/Text	Link	View
House Amendment 001	2016-03-28	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5907 currently on file.

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