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]

Text: Latest bill text (Enrolled) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Arthur Wilhelmi [D]	Sponsor	Sponsored Bills	SD-043	FollowTheMoney	Ballotpedia	VoteSmart
Senator Michael Frerichs [D]	Sponsor	Sponsored Bills	SD-052	FollowTheMoney	Ballotpedia	VoteSmart
Senator Michael Noland [D]	Sponsor	Sponsored Bills	SD-022	FollowTheMoney	Ballotpedia	VoteSmart
Senator Michael Bond [D]	Sponsor	Sponsored Bills	SD-031	FollowTheMoney	Ballotpedia	VoteSmart
Senator Mattie Hunter [D]	Sponsor	Sponsored Bills	SD-003	FollowTheMoney	Ballotpedia	VoteSmart
Senator Martin Sandoval [D]	Sponsor	Sponsored Bills	SD-011	FollowTheMoney	Ballotpedia	VoteSmart
Senator Maggie Crotty [D]	Sponsor	Sponsored Bills	SD-019	FollowTheMoney	Ballotpedia	VoteSmart
Senator Linda Holmes [D]	Sponsor	Sponsored Bills	SD-042	FollowTheMoney	Ballotpedia	VoteSmart
Senator Kwame Raoul [D]	Sponsor	Sponsored Bills	SD-013	FollowTheMoney	Ballotpedia	VoteSmart
Senator Kimberly Lightford [D]	Sponsor	Sponsored Bills	SD-004	FollowTheMoney	Ballotpedia	VoteSmart
Senator John Sullivan [D]	Sponsor	Sponsored Bills	SD-047	FollowTheMoney	Ballotpedia	VoteSmart
Senator Jacqueline Collins [D]	Sponsor	Sponsored Bills	SD-016	FollowTheMoney	Ballotpedia	VoteSmart
Senator Ira Silverstein [D]	Sponsor	Sponsored Bills	SD-008	FollowTheMoney	Ballotpedia	VoteSmart
Senator Gary Forby [D]	Sponsor	Sponsored Bills	SD-059	FollowTheMoney	Ballotpedia	VoteSmart
Senator Emil Jones [D]	Sponsor	Sponsored Bills	SD-014	FollowTheMoney	Ballotpedia	VoteSmart
Senator Deanna Demuzio [D]	Sponsor	Sponsored Bills	SD-049	FollowTheMoney	Ballotpedia	VoteSmart
Senator Dan Kotowski [D]	Sponsor	Sponsored Bills	SD-028	FollowTheMoney	Ballotpedia	VoteSmart
Senator Toi Hutchinson [D]	Sponsor	Sponsored Bills	SD-040	FollowTheMoney	Ballotpedia	VoteSmart

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