HB1953 94TH GENERAL ASSEMBLY

LRB094 02990 NHT 32991 b

94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB1953

Introduced 2/14/2005, by Rep. Michael J. Madigan - Barbara Flynn Currie - Kevin A. McCarthy

SYNOPSIS AS INTRODUCED:

110 ILCS 947/91

Amends the Higher Education Student Assistance Act. Makes a technical change in a Section concerning defaulting on a loan.

A BILL FOR

AN ACT concerning education.

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

Section 5. The Higher Education Student Assistance Act is amended by changing Section 91 as follows:

(110 ILCS 947/91)

Sec. 91. Notice to Secretary of State. The The Commission shall establish by rule mutually agreed procedures to furnish the Secretary of State annually or at other mutually agreed periodic intervals with the names and social security numbers of natural persons who the Commission determines are registered with the Secretary of State as dealers, salespersons or investment advisers under the Illinois Securities Law of 1953 and have defaulted on an educational loan guaranteed by the Commission.

(Source: P.A. 88-494.)