96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2090

 

Introduced 2/18/2009, by Rep. Michael J. Madigan - Barbara Flynn Currie - Marlow H. Colvin

 

SYNOPSIS AS INTRODUCED:
 
815 ILCS 160/3.1

    Amends the Credit Agreements Act. Makes a technical change in a Section concerning a creditor's liability.


LRB096 05636 KTG 15702 b

 

 

A BILL FOR

 

HB2090 LRB096 05636 KTG 15702 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 Credit Agreements Act is amended by changing
5 Section 3.1 as follows:
 
6     (815 ILCS 160/3.1)
7     Sec. 3.1. Liability; privity of contract. No creditor shall
8 be liable to a person not in privity of contract with the the
9 creditor for civil damages arising out of a credit agreement,
10 or any conditions precedent thereto, except for acts or conduct
11 by the creditor that constitute fraud against the person.
12 (Source: P.A. 89-309, eff. 8-11-95.)