Illinois General Assembly - Full Text of HB0537
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Full Text of HB0537  96th General Assembly

HB0537sam003 96TH GENERAL ASSEMBLY

Sen. Kimberly A. Lightford

Filed: 5/5/2010

 

 


 

 


 
09600HB0537sam003 LRB096 06068 RPM 41253 a

1
AMENDMENT TO HOUSE BILL 537

2     AMENDMENT NO. ______. Amend House Bill 537, AS AMENDED,
3 with reference to page and line numbers of Senate Amendment No.
4 2, as follows:
 
5 on page 4, line 25, by replacing "financial institution" with
6 "licensee"; and
 
7 on page 28, by replacing lines 2 through 5 with the following:
8     "No lender may charge more than $15.50 per $100 loaned on
9     any payday loan over the term of the loan. Except as
10     provided in Section 2-25, this charge is considered fully
11     earned as of the date on which the loan is made.".