Rep. Brandon W. Phelps

Filed: 3/22/2013

 

 


 

 


 
09800HB0907ham001LRB098 03750 MLW 43261 a

1
AMENDMENT TO HOUSE BILL 907

2    AMENDMENT NO. ______. Amend House Bill 907 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Rental-Purchase Agreement Act is amended by
5adding Section 1.5 as follows:
 
6    (815 ILCS 655/1.5 new)
7    Sec. 1.5. Construction of Act. A rental-purchase agreement
8shall not be governed by laws relating to, nor construed to be:
9        (1) a retail installment transaction, as defined in the
10    Retail Installment Sales Act; or
11        (2) a lease or agreement that constitutes a security
12    interest, as defined in Section 1-201 or 1-203 of the
13    Uniform Commercial Code.".