CONS INSTALL PAYDAY LOANS House SponsorsRep. Robert Rita and Patrick Verschoore 1/11/2005HouseSession Sine Die 205 ILCS 670/1.5 new205 ILCS 670/15f new205 ILCS 670/17.1 new205 ILCS 670/17.2 new205 ILCS 670/17.3 new205 ILCS 670/17.4 new205 ILCS 670/17.5 new205 ILCS 670/17.6 new205 ILCS 670/17.7 new205 ILCS 670/17.8 new205 ILCS 670/17.9 new205 ILCS 670/17.10 new205 ILCS 670/17.11 new205 ILCS 670/17.12 new205 ILCS 670/17.13 new205 ILCS 670/17.14 new205 ILCS 670/17.15 new205 ILCS 670/17.16 new205 ILCS 670/17.17 new205 ILCS 670/17.18 new205 ILCS 670/17.19 new205 ILCS 670/17.20 new205 ILCS 670/17.21 new205 ILCS 670/17.22 new205 ILCS 670/17.23 new Amends the Consumer Installment Loan Act. Sets forth terms and conditions under which licensees may engage in making short-term loans. Provides that interest on these loans must be computed as simple interest. Requires licensees to provide information about debt management services to borrowers before entering into a short-term loan agreement. Establishes notice requirements for defaults by a borrower. Limits property in which a licensee may take a security interest to the check or motor vehicle title tendered to the licensee at the time of the loan transaction. Provides procedures for taking possession of motor vehicles. Effective immediately. 2/21/2003HouseFiled with the Clerk by Rep. Robert Rita 2/21/2003HouseFirst Reading 2/21/2003HouseReferred to Rules Committee 2/26/2003HouseAssigned to Financial Institutions Committee 3/12/2003HouseDo Pass / Short Debate Financial Institutions Committee; 018-000-000 3/12/2003HousePlaced on Calendar 2nd Reading - Short Debate 3/25/2003HouseHouse Amendment No. 1 Filed with Clerk by Rep. Robert Rita 3/25/2003HouseHouse Amendment No. 1 Referred to Rules Committee 4/2/2003HouseAdded Co-Sponsor Rep. Patrick Verschoore 4/3/2003HouseSecond Reading - Short Debate 4/3/2003HouseHeld on Calendar Order of Second Reading - Short Debate 4/4/2003HouseHouse Amendment No. 1 Recommends Be Adopted Rules Committee; 003-000-000 4/4/2003HouseRule 19(a) / Re-referred to Rules Committee 1/11/2005HouseSession Sine Die