Bill Text: IL HB4941 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the Interest Act. Makes a technical change in a Section concerning the adoption of certain rules.

Sponsorship: Bipartisan Bill

Status: (Introduced - Dead) 2010-02-03 - Added Co-Sponsor Rep. Mark H. Beaubien, Jr. [HB4941 Detail]

Download: Illinois-2009-HB4941-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 HB4941 Introduced 1/15/2010, by Rep. John E. Bradley SYNOPSIS AS INTRODUCED:
815 ILCS 205/4b from Ch. 17, par. 6411
Amends the Interest Act. Makes a technical change in a Section concerning the adoption of certain rules.
LRB096 16513 DRJ 31783 b
A BILL FOR
HB4941 LRB096 16513 DRJ 31783 b
AN ACT concerning business.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Interest Act is amended by changing Section
4b as follows:
(815 ILCS 205/4b) (from Ch. 17, par. 6411)
Sec. 4b. In order to assure compliance with applicable
Federal law, any State agency having chartering or licensing
powers or regulatory or supervisory authority over a class of
creditors affected by this Act may promulgate rules and and
regulations to carry out the disclosure and other requirements
pertaining to the extension of credit under this Act and the
advertising of such extensions of credit.
(Source: P.A. 76-1775.)