Bill Text: IL SB1779 | 2021-2022 | 102nd General Assembly | Chaptered
Bill Title: Reinserts the provisions of the introduced bill with the following changes. Provides that a lender, or agent of a lending company, when offering terms for a mortgage note for the purchase of a manufactured home, as defined in the Mobile Home Park Act, that has not been caused to be deemed to be real property by satisfying the requirements of the Conveyance and Encumbrance of Manufactured Homes as Real Property and Severance Act, shall make certain disclosures concerning the manufactured home including that, depending on where the consumer affixes the manufactured home (be it property owned by the consumer or on certain types of leased land), the manufactured home may qualify as real property under the Conveyance and Encumbrance of Manufactured Homes as Real Property and Severance Act; and any other reason that prohibits refinancing.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2021-08-13 - Public Act . . . . . . . . . 102-0365 [SB1779 Detail]
Download: Illinois-2021-SB1779-Chaptered.html
| ||||
| Public Act 102-0365 | ||||
| ||||
| ||||
AN ACT concerning business.
| ||||
Be it enacted by the People of the State of Illinois,
| ||||
represented in the General Assembly:
| ||||
Section 5. The Consumer Fraud and Deceptive Business | ||||
Practices Act is amended by adding Section 2WWW as follows:
| ||||
