Bill Amendment: IL SB2121 | 2023-2024 | 103rd General Assembly
NOTE: For additional amemendments please see the Bill Drafting List
Bill Title: BUSINESS-CREDIT ACCOUNT REPORT
Status: 2023-06-26 - Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SB2121 Detail]
Download: Illinois-2023-SB2121-Senate_Amendment_002.html
Bill Title: BUSINESS-CREDIT ACCOUNT REPORT
Status: 2023-06-26 - Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SB2121 Detail]
Download: Illinois-2023-SB2121-Senate_Amendment_002.html
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| 1 | AMENDMENT TO SENATE BILL 2121
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 2121 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Credit Card Marketing Act of 2009 is | ||||||
| 5 | amended by adding Section 45 as follows:
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| 6 | (110 ILCS 26/45 new) | ||||||
| 7 | Sec. 45. Credit card closure. If a credit card issuer is | ||||||
| 8 | party to a private label credit program as defined in Section | ||||||
| 9 | 48.1 of the Illinois Banking Act and closes a customer's | ||||||
| 10 | credit card due to inactivity, the financial institution shall | ||||||
| 11 | notify the customer and the credit reporting agencies in | ||||||
| 12 | writing of the closure due to inactivity.".
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