Bill Text: IL HB4695 | 2011-2012 | 97th General Assembly | Amended

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Bill Title: Amends the Collection Agency Act. Provides that each collection agency shall develop and maintain a written internal policy regarding the prevention of debtor incarceration. Effective January 1, 2013.

Spectrum: Slight Partisan Bill (Democrat 6-2)

Status: (Failed) 2013-01-08 - Session Sine Die [HB4695 Detail]

Download: Illinois-2011-HB4695-Amended.html

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Rep. Eddie Lee Jackson, Sr.

Filed: 3/27/2012

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AMENDMENT TO HOUSE BILL 4695
AMENDMENT NO. ______. Amend House Bill 4695 by replacing
everything after the enacting clause with the following:
"Section 5. The Consumer Installment Loan Act is amended by
changing Section 11 as follows:
(205 ILCS 670/11) (from Ch. 17, par. 5411)
Sec. 11. Books and records - Reports.
(a) Every licensee shall retain and use in his business or
at another location approved by the Director such records as
are required by the Director to enable the Director to
determine whether the licensee is complying with the provisions
of this Act and the rules and regulations promulgated pursuant
to this Act. Every licensee shall preserve the records of any
loan for at least 2 years after making the final entry for such
loan. Accounting systems maintained in whole or in part by
mechanical or electronic data processing methods which provide

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information equivalent to that otherwise required and follow
generally accepted accounting principles are acceptable for
that purpose, if approved by the Director in writing.
(b) Each licensee shall annually, on or before the first
day of March, file a report with the Director giving such
relevant information as the Director may reasonably require
concerning the business and operations during the preceding
calendar year of each licensed place of business conducted by
the licensee. The report must be received by the Department on
or before March 1. The report shall be made under oath and in a
form prescribed by the Director. Whenever a licensee operates 2
or more licensed offices or whenever 2 or more affiliated
licensees operate licensed offices, a composite report of such
group of licensed offices may be filed in lieu of individual
reports. The Director may make and publish annually an analysis
and recapitulation of such reports. The Director may fine each
licensee $25 for each day beyond March 1 such report is filed.
(c) A licensee shall include in the report filed on or
before the first day of March of each year in accordance with
subsection (b) of this Section the following information:
(1) the number of post-judgment body attachment orders
issued in civil actions initiated by the licensee and
arising from loans made by the licensee under this Act;
(2) for any post-judgment body attachment order
reported under item (1) of this subsection, the civil court
and case number in which the body attachment order was

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issued;
(3) for any post-judgment body attachment order
reported under item (1) of this subsection, the amount of
the cash bond, if any, posted by the judgment debtor; and
(4) for any post-judgment body attachment order
reported under item (1) of this subsection, a copy of the
order, if any, providing for the disposition of the cash
bond.
(Source: P.A. 92-398, eff. 1-1-02.)
Section 10. The Collection Agency Act is amended by adding
Section 8d as follows:
(225 ILCS 425/8d new)
Sec. 8d. Post-judgment body attachments; reports. A
licensee shall annually, on or before the first day of March,
file a report with the Secretary containing the following
information:
(1) the number of post-judgment body attachment orders
issued in civil actions initiated by the licensee and
arising from collection activities by the licensee under
this Act;
(2) for any post-judgment body attachment order
reported under this Section, the civil court and case
number in which the body attachment order was issued;
(3) for any post-judgment body attachment order

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reported under this Section, the amount of the cash bond,
if any, posted by the judgment debtor; and
(4) for any post-judgment body attachment order
reported under this Section, a copy of the order, if any,
providing for the disposition of the cash bond.
The Secretary may fine a licensee $25 for each day beyond
March 1 the report is filed.
Section 15. The Payday Loan Reform Act is amended by
changing Section 2-55 as follows:
(815 ILCS 122/2-55)
Sec. 2-55. Information, reporting, and examination.
(a) A licensee shall keep and use books, accounts, and
records that will enable the Secretary to determine if the
licensee is complying with the provisions of this Act and
maintain any other records as required by the Secretary.
(b) A licensee shall collect and maintain information
annually for a report that shall disclose in detail and under
appropriate headings:
(1) the total number of payday loans made during the
preceding calendar year;
(2) the total number of payday loans outstanding as of
December 31 of the preceding calendar year;
(3) the minimum, maximum, and average dollar amount of
payday loans made during the preceding calendar year;

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(4) the average annual percentage rate and the average
term of payday loans made during the preceding calendar
year; and
(5) the total number of payday loans paid in full, the
total number of loans that went into default, and the total
number of loans written off during the preceding calendar
year; and .
(6) the number of post-judgment body attachment orders
issued in civil actions initiated by the licensee and
arising from loans made by the licensee under this Act;
(A) for any post-judgment body attachment order
reported under item (6) of this subsection, the civil
court and case number in which the body attachment
order was issued;
(B) for any post-judgment body attachment order
reported under item (6) of this subsection, the amount
of the cash bond, if any, posted by the judgment
debtor; and
(C) for any post-judgment body attachment order
reported under item (6) of this subsection, a copy of
the order, if any, providing for the disposition of the
cash bond.
The report shall be verified by the oath or affirmation of
the owner, manager, or president of the licensee. The report
must be filed with the Secretary no later than March 1 of the
year following the year for which the report discloses the

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information specified in this subsection (b). The Secretary may
impose upon the licensee a fine of $25 per day for each day
beyond the filing deadline that the report is not filed.
(c) No later than July 31 of the second year following the
effective date of this Act, the Department shall publish a
biennial report that contains a compilation of aggregate data
concerning the payday lending industry and shall make the
report available to the Governor, the General Assembly, and the
general public.
(d) The Department shall have the authority to conduct
examinations of the books, records, and loan documents at any
time.
(Source: P.A. 94-13, eff. 12-6-05.)".