RETAIL INSTALL SALE-OBLIGATION House SponsorsRep. Marlow H. Colvin-David E. Miller-Linda Chapa LaVia-Monique D. Davis, Patricia Bailey, Annazette Collins, William Davis, Mary E. Flowers, Deborah L. Graham, Constance A. Howard, Robin Kelly, Joseph M. Lyons, Charles G. Morrow III, Elaine Nekritz, Robert Rita, Kathleen A. Ryg, Cynthia Soto, Eddie Washington, Karen A. Yarbrough, Wyvetter H. Younge and Maria Antonia Berrios 3/3/2004HouseTabled By Sponsor Rep. Marlow H. Colvin 815 ILCS 375/2.16 new815 ILCS 375/2.17 new815 ILCS 375/5from Ch. 121 1/2, par. 565815 ILCS 375/23from Ch. 121 1/2, par. 583815 ILCS 505/2Zfrom Ch. 121 1/2, par. 262Z Amends the Motor Vehicle Retail Installment Sales Act. Provides that there is an affirmative obligation and duty to disclose to an obligor under a retail installment contract: (i) any agreement to sell, assign, or otherwise transfer the contract to a third party for an amount that is equal to, in excess of, or less than the amount financed under the contract, (ii) that the assignee may pay the seller all or a portion of the prepaid finance charges and other fees, and (iii) the applicable buy rate, annual percentage rate, and yield spread premium. Deletes a provision concerning a violation of the Act, and adds a provision making a violation of the Act an unfair and deceptive act or practice in violation of the Consumer Fraud and Deceptive Business Practices Act (and amends the Consumer Fraud and Deceptive Business Practices Act accordingly). Makes other changes. 2/4/2004HouseFiled with the Clerk by Rep. Marlow H. Colvin 2/4/2004HouseChief Co-Sponsor Rep. David E. Miller 2/4/2004HouseChief Co-Sponsor Rep. Linda Chapa LaVia 2/4/2004HouseChief Co-Sponsor Rep. Monique D. Davis 2/4/2004HouseCo-Sponsor Rep. Patricia Bailey 2/4/2004HouseCo-Sponsor Rep. Annazette Collins 2/4/2004HouseCo-Sponsor Rep. William Davis 2/4/2004HouseCo-Sponsor Rep. Kenneth Dunkin 2/4/2004HouseCo-Sponsor Rep. Mary E. Flowers 2/4/2004HouseCo-Sponsor Rep. Deborah L. Graham 2/4/2004HouseCo-Sponsor Rep. Constance A. Howard 2/4/2004HouseCo-Sponsor Rep. Robin Kelly 2/4/2004HouseCo-Sponsor Rep. Joseph M. Lyons 2/4/2004HouseCo-Sponsor Rep. Charles G. Morrow, III 2/4/2004HouseCo-Sponsor Rep. Elaine Nekritz 2/4/2004HouseCo-Sponsor Rep. Robert Rita 2/4/2004HouseCo-Sponsor Rep. Kathleen A. Ryg 2/4/2004HouseCo-Sponsor Rep. Cynthia Soto 2/4/2004HouseCo-Sponsor Rep. Eddie Washington 2/4/2004HouseCo-Sponsor Rep. Karen A. Yarbrough 2/4/2004HouseCo-Sponsor Rep. Wyvetter H. Younge 2/4/2004HouseSponsor Removed Rep. Kenneth Dunkin 2/5/2004HouseFirst Reading 2/5/2004HouseReferred to Rules Committee 2/9/2004HouseAssigned to Consumer Protection Committee 2/24/2004HouseAdded Co-Sponsor Rep. Maria Antonia Berrios 3/3/2004HouseTabled By Sponsor Rep. Marlow H. Colvin