O'MALLEY. (BIGGINS-BUGIELSKI-SAVIANO) 30 ILCS 105/6z-26 205 ILCS 405/1 from Ch. 17, par. 4802 205 ILCS 405/2 from Ch. 17, par. 4803 205 ILCS 405/3 from Ch. 17, par. 4804 205 ILCS 405/4 from Ch. 17, par. 4808 205 ILCS 405/7 from Ch. 17, par. 4814 205 ILCS 405/10 from Ch. 17, par. 4817 205 ILCS 405/13.1 from Ch. 17, par. 4822 205 ILCS 405/15.1b from Ch. 17, par. 4827 205 ILCS 405/15.1c from Ch. 17, par. 4828 205 ILCS 405/16 from Ch. 17, par. 4832 205 ILCS 405/24 from Ch. 17, par. 4847 205 ILCS 665/1 from Ch. 17, par. 5301 205 ILCS 665/2 from Ch. 17, par. 5302 205 ILCS 665/3 from Ch. 17, par. 5303 205 ILCS 665/4 from Ch. 17, par. 5304 205 ILCS 665/5 from Ch. 17, par. 5305 205 ILCS 665/6 from Ch. 17, par. 5306 205 ILCS 665/7 from Ch. 17, par. 5307 205 ILCS 665/8.5 new 205 ILCS 665/9 from Ch. 17, par. 5309 205 ILCS 665/10 from Ch. 17, par. 5310 205 ILCS 665/11 from Ch. 17, par. 5311 205 ILCS 665/11.5 new 205 ILCS 665/12 from Ch. 17, par. 5312 205 ILCS 665/13 from Ch. 17, par. 5313 205 ILCS 665/13.5 new 205 ILCS 665/14 from Ch. 17, par. 5314 205 ILCS 665/15.1 from Ch. 17, par. 5316 205 ILCS 665/15.3 from Ch. 17, par. 5318 205 ILCS 665/16 from Ch. 17, par. 5319 205 ILCS 665/17 from Ch. 17, par. 5320 205 ILCS 665/18 from Ch. 17, par. 5321 205 ILCS 665/20 from Ch. 17, par. 5323 205 ILCS 665/22 from Ch. 17, par. 5325 215 ILCS 158/5 805 ILCS 105/103.05 from Ch. 32, par. 103.05 805 ILCS 140/Act rep. Amends the Currency Exchange Act. Provides that the Act applies to limited liability companies and authorizes limited liability companies to conduct business as a currency exchange. Amends the Financial Planning and Management Service Act. Changes the title of the Act. Changes the short title to the Debt Management Service Act. Provides that the Act applies to the business of planning and managing the financial affairs of a debtor, including receiving money from the debtor to pay debts. Establishes procedures for revocation and suspension of licenses. Provides for annual examinations of licensees. Limits fees that may be charged. Requires client funds to be maintained in trust funds. Effective January 1, 1998. SENATE AMENDMENT NO. 2. Removes provision exempting licensees under the Consumer Installment Loan Act from the scope of the Debt Management Service Act. Makes technical changes. HOUSE AMENDMENT NO. 1. Limits the amount of fees that a licensee may charge a debtor. Requires quarterly, rather than monthly, accounting to the debtor. Provides that a majority of the members of the Advisory Board must be active in a debt management or consumer credit counseling service. HOUSE AMENDMENT NO. 2. Provides that the average monthly counseling fee may not exceed $30, rather than $20, per debtor for all debtors counseled. FISCAL NOTE, S-AM 2 & H-AM's 1 & 2 (Dept. of Financial Inst.) SB 805, amended by S-am 2 and H-am's 1 & 2 would have no fiscal impact on this Dept. GOVERNOR'S AMENDATORY VETO MESSAGE In a Section of the General Not For Profit Corporation Act that lists purposes for which not-for-profit corporations may be formed, recommends including among those purposes the provision of debt management services as authorized by the Debt Management Service Act. 97-02-07 S FIRST READING 97-02-07 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-19 S ASSIGNED TO COMMITTEE FIN INST 97-02-28 S AMENDMENT NO. 01-FINANC. INST. S 97-02-28 S TABLED 97-02-28 S AMENDMENT NO. 02-FINANC. INST. S 97-02-28 S ADOPTED 97-02-28 S DO PASS AS AMENDED 007-000-000 SFIC 97-02-28 S PLACED ON CALENDAR ORDER OF 2ND READING 97-03-04 97-03-04 S SECOND READING 97-03-04 S PLACED ON CALENDAR ORDER OF 3RD READING 97-03-05 97-03-06 S THIRD READING - PASSED 055-000-001 97-03-07 H ARRIVE IN HOUSE 97-03-07 H PLACED CALENDAR ORDER OF FIRST READING 97-03-27 H HOUSE SPONSOR BIGGINS 97-04-08 H FIRST READING 97-04-08 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-04-09 H ASSIGNED TO COMMITTEE FIN INSTIT 97-04-30 H AMENDMENT NO. 01-FIN INSTIT H 97-04-30 H ADOPTED 97-04-30 H REMAINS IN COMMITTEE FIN INSTIT 97-05-07 H AMENDMENT NO. 02-FIN INSTIT H 97-05-07 H ADOPTED 97-05-07 H DO PASS AMENDED/SHORT DEBATE 024-000-000 HFIN 97-05-07 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-05-08 H FISCAL NOTE FILED AS AMEND. BY SA 2 97-05-08 H AND HA 1 & 2 97-05-08 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-05-09 H SECOND READING-SHORT DEBATE 97-05-09 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-05-12 H THIRD READING/SHORT DEBATE/PASSED 096-020-001 97-05-13 S SECRETARYS DESK - CONCURRENCE 01,02 97-05-13 S FILED WITH SECRETARY 97-05-13 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,02/O'MALLEY 97-05-13 S MOTION REFERRED TO SRUL 97-05-14 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,02/O'MALLEY 97-05-14 S RULES REFERS TO SFIC 97-05-16 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,02/O'MALLEY 97-05-16 S BE APPROVED FOR CONSIDERATION SFIC/009-000-000 97-05-20 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01,02/O'MALLEY 97-05-20 S SEN CONCURS IN HSE AMENDMENTS (NO.) 01,02/054-000-001 97-05-20 S PASSED BOTH HOUSES 97-06-18 S SENT TO THE GOVERNOR 97-08-15 S GOVERNOR AMENDATORY VETO 97-10-16 S PLACED CALENDAR AMENDATORY VETO OCTOBER 28, 1997 97-10-28 S MOTION FILED ACCEPT AMENDATORY VETO O'MALLEY 97-10-29 S ACCEPT AMENDATORY VETO - SENATE PASSED 055-000-002 97-10-30 H ARRIVE IN HOUSE 97-10-30 H PLACED CALENDAR AMENDATORY VETO NOVEMBER 12, 1997 97-10-31 H MOTION FILED ACCEPT AMENDATORY VETO #1/BIGGINS 97-10-31 H MOTION REFERRED TO HRUL 97-10-31 H PLACED CALENDAR AMENDATORY VETO NOVEMBER 12, 1997 97-11-12 H APPROVED FOR CONSIDERATION - COMPLIANCE #1/HRUL 97-11-12 H 3/5 VOTE REQUIRED 97-11-12 H ACCEPT AMENDATORY VETO - HOUSE PASSED 088-024-002 97-11-12 S BOTH HOUSES ACCEPT AMENDATORY VETO 97-11-12 H ADDED AS A JOINT SPONSOR BUGIELSKI 97-11-12 H ADDED AS A JOINT SPONSOR SAVIANO 97-11-26 S RETURNED TO GOVERNOR FOR CERTIFICATION 97-12-01 S GOVERNOR CERTIFIES CHANGES 97-12-01 S EFFECTIVE DATE 98-01-01 97-12-01 S PUBLIC ACT.............................. 90-0545 END OF INQUIRY Full Text Bill Summary