Bill Title: Amends the Credit Agreements Act. Provides that specified provisions shall not constitute a defense to a claim that arises out of bad faith conduct intended to unjustly benefit a creditor or a third party. Provides that the mere failure by a creditor to enter into a credit agreement with or to provide a written commitment to a debtor, without more, shall not constitute bad faith under specified provisions. Provides for the legislative intent of the General Assembly and that certain provisions apply to pending actions as well as actions commenced on or after the effective date of the amendatory Act. Effective immediately.

Spectrum: Partisan Bill (Democrat 18-0)

Status: (Passed) 2010-04-13 - Public Act . . . . . . . . . 96-0888 [SB1578 Detail]

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Bill Drafts

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Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB1578

Supplemental Documents

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No supplemental documents for Illinois SB1578 currently on file.

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