Sen. John J. Cullerton
Filed: 5/16/2007
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1 | AMENDMENT TO HOUSE BILL 830
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2 | AMENDMENT NO. ______. Amend House Bill 830, AS AMENDED, | ||||||
3 | with reference to page and line numbers of Senate Amendment No. | ||||||
4 | 1, by replacing line 15 on page 1 through line 10 on page 2 with | ||||||
5 | the following:
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6 | "(815 ILCS 160/2) (from Ch. 17, par. 7102)
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7 | Sec. 2. Credit agreements to be in writing. A debtor may | ||||||
8 | not
maintain an action against a creditor on or in any way | ||||||
9 | related to a credit agreement unless
the credit agreement is in | ||||||
10 | writing, expresses an agreement or commitment to
lend money or | ||||||
11 | extend credit or delay or forbear repayment of money, sets
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12 | forth the relevant terms and conditions, and is signed by the | ||||||
13 | creditor and
the debtor. An action that arises out of bad faith | ||||||
14 | conduct by a creditor intended to benefit the creditor or a | ||||||
15 | third party, however, is not barred by this Section. Mere | ||||||
16 | failure to enter into a credit agreement or to provide a | ||||||
17 | written commitment to a debtor, without more, does not |
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1 | constitute bad faith under this Section.
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2 | (Source: P.A. 86-613.)".
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