95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1062

 

Introduced 2/8/2007, by Sen. Martin A. Sandoval - Emil Jones, Jr.

 

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.


LRB095 05973 LCT 26065 b

 

 

A BILL FOR

 

SB1062 LRB095 05973 LCT 26065 b

1     AN ACT concerning business.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Interest Act is amended by changing Section
5 4b as follows:
 
6     (815 ILCS 205/4b)  (from Ch. 17, par. 6411)
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
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.)