Bill Text: IL SB2182 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Residential Real Property Disclosure Act. Provides that any condition, stipulation, or provision in any mortgage, promissory note, or contract directly affecting an interest in Illinois real estate shall state that Illinois law shall apply. Provides that any condition, stipulation, or provision purporting to apply the law of another state or country is void. Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that it is an unlawful practice for any person to insert a provision in any mortgage, promissory note, or other contract directly affecting a consumer's ownership of Illinois real estate which states that the law of a state or country other than Illinois shall apply, and that any such provision purporting to apply the law of another state or country in such consumer transaction is void.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2023-02-10 - Referred to Assignments [SB2182 Detail]

Download: Illinois-2023-SB2182-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB2182 Introduced 2/10/2023, by Sen. Chapin Rose SYNOPSIS AS INTRODUCED:
765 ILCS 77/46 new
815 ILCS 505/2A from Ch. 121 1/2, par. 262A
Amends the Residential Real Property Disclosure Act. Provides that any condition, stipulation, or provision in any mortgage, promissory note, or contract directly affecting an interest in Illinois real estate shall state that Illinois law shall apply. Provides that any condition, stipulation, or provision purporting to apply the law of another state or country is void. Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that it is an unlawful practice for any person to insert a provision in any mortgage, promissory note, or other contract directly affecting a consumer's ownership of Illinois real estate which states that the law of a state or country other than Illinois shall apply, and that any such provision purporting to apply the law of another state or country in such consumer transaction is void.
LRB103 26731 LNS 53094 b
A BILL FOR
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AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Residential Real Property Disclosure Act is
amended by adding Section 46 as follows:
(765 ILCS 77/46 new)
Sec. 46. Condition, stipulation, or provision void. Any
condition, stipulation, or provision in any mortgage,
promissory note, or contract directly affecting an interest in
Illinois real estate shall state that Illinois law shall
apply. Any condition, stipulation, or provision purporting to
apply the law of another state or country is void.
Section 10. The Consumer Fraud and Deceptive Business
Practices Act is amended by changing Section 2A as follows:
(815 ILCS 505/2A) (from Ch. 121 1/2, par. 262A)
Sec. 2A. (1) The use or employment of any chain referral
sales technique, plan, arrangement or agreement whereby the
buyer is induced to purchase merchandise upon the seller's
promise or representation that if buyer will furnish seller
names of other prospective buyers or like or identical
merchandise that seller will contact the named prospective

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buyers and buyer will receive a reduction in the purchase
price by means of a cash rebate, commission, credit toward
balance due or any other consideration, which rebate,
commission, credit or other consideration is contingent upon
seller's ability to sell like or identical merchandise to the
named prospective buyers, is declared to be an unlawful
practice within the meaning of this Act.
(2) It is an unlawful practice within the meaning of this
Act for any person, by himself or through others, to sell,
offer to sell, or attempt to sell the right to participate in a
pyramid sales scheme.
(3) It is an unlawful practice for any person to insert a
provision in any mortgage, promissory note, or other contract
directly affecting a consumer's ownership of Illinois real
estate which states that the law of a state or country other
than Illinois shall apply. Any such provision purporting to
apply the law of another state or country in such consumer
transaction is void.
(Source: P.A. 83-808.)