Bill Text: IL SB2834 | 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.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2010-06-27 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SB2834 Detail]

Download: Illinois-2009-SB2834-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 SB2834 Introduced 1/28/2010, by Sen. Christine Radogno - Dale A. Righter 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 17028 DRJ 32342 b
A BILL FOR
SB2834 LRB096 17028 DRJ 32342 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.)