HB3236ham001 103RD GENERAL ASSEMBLY

Rep. Jonathan Carroll

Filed: 3/21/2023

10300HB3236ham001 LRB103 27211 SPS 58323 a

AMENDMENT TO HOUSE BILL 3236

AMENDMENT NO. ______. Amend House Bill 3236 by replacing everything after the enacting clause with the following:

"Section 5. The Sales Finance Agency Act is amended by changing Section 10.6 as follows:

(205 ILCS 660/10.6)

Sec. 10.6. Companion animals.

(a) No sales finance agency shall purchase:

(1) a retail installment contract for the sale of a canine or feline;

(2) a retail charge agreement for the sale of a canine or feline; or

(3) the outstanding balance under a retail installment contract or a retail charge agreement for the sale of a canine or feline.

(b) No sales finance agency shall make a loan secured by:

(1) a retail installment contract for the sale of a canine or feline;

(2) a retail charge agreement for the sale of a canine or feline; or

(3) the outstanding balance under a retail installment contract or a retail charge agreements for the sale of a canine or feline.

(c) Any sales finance agency that purchases a contract or agreement subject to subsection (a) or makes a loan subject to subsection (b) has no right to collect, receive, or retain any principal, interest, or charges related to the contract, agreement, or loan, and any such loan is null and void A licensee shall not finance, enter into a retail installment contract, or make a loan for the purchase of a canine or feline. Notwithstanding any other provision of this Act, if a lender violates this Section, the financing, retail installment contract, or loan shall be null and void and the licensee shall have no right to collect, receive, or retain any principal, interest, or charges related to the loan, retail installment contract, or financing.

(Source: P.A. 102-128, eff. 1-1-22.)

Section 10. The Predatory Loan Prevention Act is amended by adding Section 15-5-16 as follows:

(815 ILCS 123/15-5-16 new)

Sec. 15-5-16. Prohibition on secured loans for canines and felines. No person or entity shall make a secured loan for the purchase of a canine or feline. Any secured loan made for the purchase of a canine or feline is null and void.

Section 15. The Retail Installment Sales Act is amended by adding Section 29.5 as follows:

(815 ILCS 405/29.5 new)

Sec. 29.5. Prohibition on retail installment transactions for canines and felines. No retail seller shall enter into a retail installment transaction for the purchase of a canine or feline. Any retail seller, including his or her assignee or successor in interest, who enters into a retail installment transaction for a canine or feline has no right to collect, receive, or retain any principal, interest, or charges related to the retail installment transaction and the retail installment transaction is null and void.".