100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB1562

 

Introduced , by Rep. Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
815 ILCS 105/3  from Ch. 17, par. 601

    Amends the Promissory Note and Bank Holiday Act. Makes a technical change in a Section concerning written instruments expressing a promise to pay or confirming an obligation.


LRB100 03436 JLS 13441 b

 

 

A BILL FOR

 

HB1562LRB100 03436 JLS 13441 b

1    AN ACT concerning business.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Promissory Note and Bank Holiday Act is
5amended by changing Section 3 as follows:
 
6    (815 ILCS 105/3)  (from Ch. 17, par. 601)
7    Sec. 3. All promissory notes, bonds, due bills and and
8other instruments in writing, made or to be made, by any
9person, body politic or corporate, whereby such person promises
10or agrees to pay any sum of money or articles of personal
11property, or any sum of money in personal property, or
12acknowledges any sum of money or article of personal property
13to be due to any other person, shall be taken to be due and
14payable, and the sum of money or article of personal property
15therein mentioned shall, by virtue thereof, be due and payable
16as therein expressed.
17(Source: R.S. 1874, p. 718.)