Bill Text: IL HB0743 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Amends the Sales Finance Agency Act to provide that a sales finance agency shall not finance, enter into a retail installment contract, or make a loan for the purchase of a companion animal as defined by the Humane Care for Animals Act. Provides that if a sales finance agency violates the provisions of the Section, the financing, retail installment contract, or loan shall be null and void and the sales finance agency shall have no right to collect, receive, or retain any principal, interest, or charges related to the loan, retail installment contract, or financing.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2021-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB0743 Detail]
Download: Illinois-2021-HB0743-Introduced.html
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1 | AN ACT concerning regulation.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Sales Finance Agency Act is amended by | |||||||||||||||||||
5 | adding Section 10.6 as follows:
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6 | (205 ILCS 660/10.6 new) | |||||||||||||||||||
7 | Sec. 10.6. Companion animals. A licensee shall not | |||||||||||||||||||
8 | finance, enter into a retail installment contract, or make a | |||||||||||||||||||
9 | loan for the purchase of a companion animal as defined by | |||||||||||||||||||
10 | Section 2.01a of the Humane Care for Animals Act. | |||||||||||||||||||
11 | Notwithstanding any other provision of this Act, if a lender | |||||||||||||||||||
12 | violates this Section, the financing, retail installment | |||||||||||||||||||
13 | contract, or loan shall be null and void and the licensee shall | |||||||||||||||||||
14 | have no right to collect, receive, or retain any principal, | |||||||||||||||||||
15 | interest, or charges related to the loan, retail installment | |||||||||||||||||||
16 | contract, or financing.
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