Illinois House Bill 4451 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Transmitters of Money Act. Defines "general-use prepaid card". Provides that all vendors of general-use prepaid cards must be licensees or authorized sellers of licensees. Provides that a vendor of a general-use prepaid card may charge an activation fee not to exceed the greater of $1 or 1% of the value of the card. Provides that, subject to certain exceptions, no person shall impose a reloading fee, balance check fee, overdraft protection fee, dormancy fee, inactivity charge, or service fee with respect to a general-use prepaid card. Provides that the vendor of a general-use prepaid card shall inform the purchaser of a charge or fee before the card is purchased. Sets forth certain prohibited acts that any vendor issuing, selling, or offering for sale general-use prepaid cards may not commit. Provides that no licensee or authorized seller of a licensee may cash checks for a fee unless licensed under the Currency Exchange Act.

TRANSMIT MONEY-PREPAID CARD

Rep. Elizabeth Hernandez [D]

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2012-03-09	House	Rule 19(a) / Re-referred to Rules Committee
2012-02-27	House	Assigned to Consumer Protection Committee
2012-01-30	House	Referred to Rules Committee
2012-01-30	House	First Reading
2012-01-27	House	Filed with the Clerk by Rep. Elizabeth Hernandez

Chapter	Article	Section	Citation Type	Statute Text
205	657	5	Amended Code	Citation Text
205	657	65	Amended Code	Citation Text
205	657	66	New Code	See Bill Text
205	657	76	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4451&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/HB/09700HB4451.htm