96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB1649


 
Introduced 2/19/2009, by Sen. Kwame Raoul
 
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 11091 KTG 21421 b

















 


 


A BILL FOR









 











SB1649

LRB096 11091 KTG 21421 b






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    AN ACT concerning business.

 
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    Be it enacted by the People of the State of Illinois, 
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represented in the General Assembly: 

 
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    Section 5. The Credit Agreements Act is amended by changing 
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Section 3.1 as follows:
 



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    (815 ILCS 160/3.1)



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    Sec. 3.1. Liability; privity of contract. No creditor shall 
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be liable to
a person not in privity of contract with the
the 
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creditor for civil damages arising
out of a credit agreement, 
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or any conditions precedent thereto, except for acts
or conduct 
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by the creditor that constitute fraud against the person.
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(Source: P.A. 89-309, eff. 8-11-95.)