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| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB1950 Introduced , by Rep. Tom Cross SYNOPSIS AS INTRODUCED:
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815 ILCS 205/4b | from Ch. 17, par. 6411 |
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Amends the Interest Act. Makes a technical change in a Section concerning
the adoption of certain rules.
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| | A BILL FOR |
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| | HB1950 | | LRB098 05867 WGH 35906 b |
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| 1 | | AN ACT concerning business.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Interest Act is amended by changing Section |
| 5 | | 4b as follows:
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| 6 | | (815 ILCS 205/4b) (from Ch. 17, par. 6411)
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| 7 | | Sec. 4b.
In order to assure compliance with applicable |
| 8 | | Federal law, any State
agency having chartering or licensing |
| 9 | | powers or regulatory or supervisory
authority over a class of |
| 10 | | creditors affected by this Act may promulgate
rules and
and |
| 11 | | regulations to carry out the disclosure and other requirements
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| 12 | | pertaining to the extension of credit under this Act and the |
| 13 | | advertising of
such extensions of credit. |
| 14 | | (Source: P.A. 76-1775.)
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