HB4684 93RD GENERAL ASSEMBLY

LRB093 18128 WGH 43820 b

93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4684

Introduced 02/04/04, by Marlow H. Colvin

SYNOPSIS AS INTRODUCED:

815 ILCS 505/2QQ new

Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that a credit card issuer that issues a credit card to a cardholder in this State shall allow the cardholder to select the day of each month on which payment is due for purchases of goods and services by the use of the credit card. Provides that a person who violates those provisions commits an unlawful practice within the meaning of the Act.

A BILL FOR

AN ACT concerning business transactions.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Consumer Fraud and Deceptive Business Practices Act is amended by adding Section 2QQ as follows:

(815 ILCS 505/2QQ new)

Sec. 2QQ. Credit card due dates.

(a) Definitions. As used in this Section:

"Cardholder" has the meaning ascribed to it in Section 2.02 of the Illinois Credit Card and Debit Card Act.

"Credit card" has the meaning ascribed to it in Section 2.03 of the Illinois Credit Card and Debit Card Act.

"Issuer" has the meaning ascribed to it in Section 2.08 of the Illinois Credit Card and Debit Card Act.

(b) An issuer that issues a credit card to a cardholder in this State shall allow the cardholder to select the day of each month on which payment is due for purchases of goods and services by the use of the credit card.

(c) A person who violates this Section commits an unlawful practice within the meaning of this Act.