NON-RECOURSE CIV LIT FUND ACT Senate SponsorsSen. Don Harmon House Sponsors(Rep. Lou Lang-Jay C. Hoffman and Linda Chapa LaVia) 1/12/2011SenateSession Sine Die New Act205 ILCS 670/21from Ch. 17, par. 5427Creates the Non-Recourse Civil Litigation Funding Act. Provides that all contracts for non-recourse civil litigation funding must meet specified criteria. Provides that the contract shall provide that the consumer may cancel the contract within 5 business days following the consumer's receipt of funds, without penalty or further obligation. Specifies the notice requirements for contracts. Contains provisions concerning the dispute of contracts. Provides that each non-recourse civil litigation funding company shall adhere to specified best practices. Contains provisions concerning (1) the sale and assignment of proceeds of legal claims and (2) the requirements for non-recourse civil litigation funding companies by the Department of Financial and Professional Regulation. Provides that the Department shall maintain a list of all non-recourse civil litigation funding companies. Contains provisions concerning the power of the Department to issue cease and desist orders. Specifies penalties for violation of the Act. Contains provisions concerning judicial review and application of the Act. Amends the Consumer Installment Loan Act to exclude non-recourse civil litigation funding. Contains a severability clause. Effective immediately.Senate Floor Amendment No. 1 Provides that a contract for non-recourse civil litigation funding shall contain the following statement located above the signature line: "The consumer understands and agrees that the funds received from this Non-Recourse Civil Litigation Funding shall not be used to pay for litigation costs related to the underlying Legal claim." Provides that the contract shall contain a written acknowledgement by the consumer that he or she shall notify his or her current attorney and any successor attorneys representing him or her in the legal claim of the existence of the transaction and shall instruct the nonrecourse civil litigation funding company to provide the attorney with a copy of the contract. Provides that before obtaining any additional or subsequent nonrecourse civil litigation funding, the consumer will notify his or her attorney and receive prior written permission. Deletes language that provides that the contract shall contain a written acknowledgment by the attorney representing the consumer in the legal claim that certain provisions are applicable. Deletes the provision concerning disputes. Provides that any attorney's lien, Medicare lien, Medicaid lien, or health care provider lien against the consumer's legal claim shall take priority over any lien of the civil litigation funding company. Makes changes to the provision concerning practices.House Committee Amendment No. 1 Deletes reference to:205 ILCS 670/21Replaces everything after the enacting clause. Creates the Non-Recourse Civil Litigation Funding Act. Contains only a short title provision. 2/10/2010SenateFiled with Secretary by Sen. Don Harmon 2/10/2010SenateFirst Reading 2/10/2010SenateReferred to Assignments 2/24/2010SenateAssigned to Judiciary 3/3/2010SenateDo Pass Judiciary; 008-000-000 3/3/2010SenatePlaced on Calendar Order of 2nd Reading March 4, 2010 3/11/2010SenateSecond Reading 3/11/2010SenatePlaced on Calendar Order of 3rd Reading March 12, 2010 3/15/2010SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Don Harmon 3/15/2010SenateSenate Floor Amendment No. 1 Referred to Assignments 3/16/2010SenateSenate Floor Amendment No. 1 Assignments Refers to Judiciary 3/16/2010SenateSenate Floor Amendment No. 1 Recommend Do Adopt Judiciary; 010-000-000 3/18/2010SenateRecalled to Second Reading 3/18/2010SenateSenate Floor Amendment No. 1 Adopted; Harmon 3/18/2010SenatePlaced on Calendar Order of 3rd Reading 3/18/2010SenateThird Reading - Passed; 057-000-000 3/18/2010HouseArrived in House 3/18/2010HouseChief House Sponsor Rep. Lou Lang 3/18/2010HousePlaced on Calendar Order of First Reading 3/18/2010HouseFirst Reading 3/18/2010HouseReferred to Rules Committee 3/25/2010HouseAdded Alternate Chief Co-Sponsor Rep. Jay C. Hoffman 4/22/2010HouseAdded Alternate Co-Sponsor Rep. Linda Chapa LaVia 11/10/2010HouseFinal Action Deadline Extended-9(b) January 11, 2011 11/10/2010HouseAssigned to Judiciary I - Civil Law Committee 11/16/2010HouseHouse Committee Amendment No. 1 Filed with Clerk by Judiciary I - Civil Law Committee 11/16/2010HouseHouse Committee Amendment No. 1 Adopted in Judiciary I - Civil Law Committee; by Voice Vote 11/16/2010HouseDo Pass as Amended / Short Debate Judiciary I - Civil Law Committee; 010-007-000 11/16/2010HousePlaced on Calendar 2nd Reading - Short Debate 11/17/2010HouseSecond Reading - Short Debate 11/17/2010HouseHeld on Calendar Order of Second Reading - Short Debate 1/5/2011HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Lou Lang 1/5/2011HouseHouse Floor Amendment No. 2 Referred to Rules Committee 1/5/2011HouseHouse Floor Amendment No. 2 Rules Refers to Judiciary I - Civil Law Committee 1/6/2011HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Lou Lang 1/6/2011HouseHouse Floor Amendment No. 3 Referred to Rules Committee 1/6/2011HouseHouse Floor Amendment No. 2 Recommends Be Adopted Judiciary I - Civil Law Committee; 011-005-000 1/6/2011HouseHouse Floor Amendment No. 3 Recommends Be Adopted Rules Committee; 005-000-000 1/6/2011HouseHouse Floor Amendment No. 4 Filed with Clerk by Rep. Lou Lang 1/6/2011HouseHouse Floor Amendment No. 4 Referred to Rules Committee 1/6/2011HouseHouse Floor Amendment No. 4 Recommends Be Adopted Rules Committee; 005-000-000 1/6/2011HouseHouse Floor Amendment No. 2 Lost 028-087-001 1/6/2011HouseHeld on Calendar Order of Second Reading - Short Debate 1/12/2011SenateSession Sine Die