Illinois General Assembly - Bill Status for HB5577
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 Bill Status of HB5577  95th General Assembly


House Sponsors
Rep. Tom Cross

Last Action
DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
815 ILCS 140/6.5 new
815 ILCS 140/9from Ch. 17, par. 6012
815 ILCS 405/10.5 new

Synopsis As Introduced
Amends the Credit Card Issuance Act and the Retail Installment Sales Act. Provides that, for a 3-day period, retail sellers may not solicit credit-card applicants or buyers in a retail installment transaction to enter into a debt protection agreement. Requires the retail sellers to make certain disclosures when soliciting for debt protection agreements after that 3-day period. Provides that the retail seller may not charge any debt-protection-agreement fees to a person's account, or otherwise charge or collect such fees, until that person has signed a separate contract providing all of the terms and conditions of the debt protection agreement. Includes retail sellers within the penalty provisions for violations of the Credit Card Issuance Act. Contains other provisions. Effective immediately.

DateChamber Action
  2/15/2008HouseFiled with the Clerk by Rep. Tom Cross
  2/15/2008HouseFirst Reading
  2/15/2008HouseReferred to Rules Committee
  2/20/2008HouseAssigned to Consumer Protection Committee
  3/14/2008HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2009HouseSession Sine Die

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