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90_HB2990
815 ILCS 375/21 from Ch. 121 1/2, par. 581
Amends the Motor Vehicle Retail Installment Sales Act.
Adds a caption to a Section concerning finance charges.
LRB9010499JSbd
LRB9010499JSbd
1 AN ACT to amend the Motor Vehicle Retail Installment
2 Sales Act by changing Section 21.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Motor Vehicle Retail Installment Sales
6 Act is amended by changing Section 21 as follows:
7 (815 ILCS 375/21) (from Ch. 121 1/2, par. 581)
8 Sec. 21. Finance charge; rate. Notwithstanding the
9 provisions of any other Statute,, for motor vehicle retail
10 installment contracts executed after the effective date of
11 this amendatory Act of 1981, there shall be no limit on the
12 finance charges which may be charged, collected and received.
13 (Source: P.A. 90-437, eff. 1-1-98.)