|
|
|
|
95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB2734
Introduced 2/26/2007, by Rep. Michael J. Madigan - Barbara Flynn Currie - Robert S. Molaro SYNOPSIS AS INTRODUCED:
|
|
720 ILCS 5/39-1 |
from Ch. 38, par. 39-1 |
|
Amends the Criminal Code of 1961. Makes a technical change in a Section
concerning usury.
|
| |
|
|
|
|
A BILL FOR
|
|
|
|
|
HB2734 |
|
LRB095 01030 RLC 21032 b |
|
|
| 1 |
| AN ACT concerning criminal law.
|
| 2 |
| Be it enacted by the People of the State of Illinois, |
| 3 |
| represented in the General Assembly:
|
| 4 |
| Section 5. The Criminal Code of 1961 is amended by changing |
| 5 |
| Section 39-1 as follows:
|
| 6 |
| (720 ILCS 5/39-1) (from Ch. 38, par. 39-1)
|
| 7 |
| Sec. 39-1. Criminal
Usury.
|
| 8 |
| (a) Any person commits criminal usury when, in exchange for |
| 9 |
| either a
loan of money or other property or forbearance from |
| 10 |
| the
the collection of such
a loan, he knowingly contracts for |
| 11 |
| or receives from an individual, directly
or indirectly, |
| 12 |
| interest, discount or other consideration at a rate greater
|
| 13 |
| than 20% per annum either before or after the maturity of the |
| 14 |
| loan. |
| 15 |
| (b) When a person has in his personal or constructive |
| 16 |
| possession
records, memoranda, or other documentary record of |
| 17 |
| usurious loans it shall
be prima facie evidence that he has |
| 18 |
| violated Subsection 39-1(a) hereof.
|
| 19 |
| (Source: P.A. 76-1879.)
|