Illinois Senate Bill 2383 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Consumer Installment Loan Act. Provides that no licensee shall conduct the business of making loans under the Act within any office, suite, room, or other place of business in which any other business is solicited or engaged unless the other business is licensed by any licensing authority in this State or, in the opinion of the Director of Financial Institutions, the other business would not be contrary to the best interests of consumers. Amends the Payday Loan Reform Act. Provides that no licensee shall conduct the business of making loans under the Act within any office, suite, room, or place of business in which any other business is solicited or engaged in unless the other business is licensed by any licensing authority in this State or, in the opinion of the Secretary of Financial and Professional Regulation, the other business would not be contrary to the best interests of consumers and is authorized by the Secretary of in writing. Changes the maximum time period for payday loans to 182 days (was 180 days). Effective immediately.

CONSUMER INSTALLMENT LOAN

Sen. Antonio Munoz [D]

Date	Chamber	Action
2015-01-13	Senate	Session Sine Die
2013-04-19	Senate	Rule 3-9(a) / Re-referred to Assignments
2013-03-22	Senate	Rule 2-10 Committee Deadline Established As April 19, 2013
2013-03-13	Senate	Postponed - Financial Institutions
2013-03-05	Senate	Assigned to Financial Institutions
2013-02-15	Senate	Referred to Assignments
2013-02-15	Senate	First Reading
2013-02-15	Senate	Filed with Secretary by Sen. Antonio Muñoz

Chapter	Article	Section	Citation Type	Statute Text
205	670	1	Amended Code	Citation Text
205	670	12	Amended Code	Citation Text
205	670	19.2	Amended Code	Citation Text
815	122	2-5	Amended Code	Citation Text
815	122	3-5	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2383&GAID=12&DocTypeID=SB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/SB/09800SB2383.htm