REGULATION-COLLATERAL RECOVERY Senate SponsorsSen. Mike Jacobs-William R. Haine-Randall M. Hultgren 1/13/2009SenateSession Sine Die New ActCreates the Collateral Recovery Act. Provides for the licensure of repossession agencies, the certification of recovery managers, and the registration of repossession agency employees. Establishes the Illinois Repossession and Recovery Board. Grants rulemaking authority to the Department of Financial and Professional Regulation. Sets forth provisions concerning qualifications, application, examination, assignment, insurance requirements, and administrative proceedings. Prohibits recovery work on a contingency basis. 1/31/2007SenateFiled with Secretary by Sen. Mike Jacobs 1/31/2007SenateFirst Reading 1/31/2007SenateReferred to Rules 2/7/2007SenateAssigned to Licensed Activities 2/21/2007SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Mike Jacobs 2/21/2007SenateSenate Committee Amendment No. 1 Referred to Rules 3/1/2007SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Mike Jacobs 3/1/2007SenateSenate Committee Amendment No. 2 Referred to Rules 3/16/2007SenateRule 3-9(a) / Re-referred to Rules 9/4/2007SenateAdded as Chief Co-Sponsor Sen. William R. Haine 6/20/2008SenateAdded as Chief Co-Sponsor Sen. Randall M. Hultgren 1/13/2009SenateSession Sine Die