HB1276 99TH GENERAL ASSEMBLY

LRB099 05124 JLS 25153 b

99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB1276

Introduced , by Rep. Michael J. Madigan

SYNOPSIS AS INTRODUCED:

815 ILCS 105/3

from Ch. 17, par. 601

Amends the Promissory Note and Bank Holiday Act. Makes a technical change in a Section concerning written instruments expressing a promise to pay or confirming an obligation.

A BILL FOR

AN ACT concerning business.

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

Section 5. The Promissory Note and Bank Holiday Act is amended by changing Section 3 as follows:

(815 ILCS 105/3) (from Ch. 17, par. 601)

Sec. 3. All promissory notes, bonds, due bills and and other instruments in writing, made or to be made, by any person, body politic or corporate, whereby such person promises or agrees to pay any sum of money or articles of personal property, or any sum of money in personal property, or acknowledges any sum of money or article of personal property to be due to any other person, shall be taken to be due and payable, and the sum of money or article of personal property therein mentioned shall, by virtue thereof, be due and payable as therein expressed.

(Source: R.S. 1874, p. 718.)