102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB0572

 

Introduced 2/8/2021, by Rep. Jonathan Carroll

 

SYNOPSIS AS INTRODUCED:
 
205 ILCS 660/10.6 new

    Amends the Sales Finance Agency Act to provide that a sales finance agency shall not finance, enter into a retail installment contract, or make a loan for the purchase of a canine or feline. Provides that if a sales finance agency violates the provisions, the financing, retail installment contract, or loan shall be null and void and the sales finance agency shall have no right to collect, receive, or retain any principal, interest, or charges related to the loan, retail installment contract, or financing.


LRB102 10009 BMS 15328 b

 

 

A BILL FOR

 

HB0572LRB102 10009 BMS 15328 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Sales Finance Agency Act is amended by
5adding Section 10.6 as follows:
 
6    (205 ILCS 660/10.6 new)
7    Sec. 10.6. Companion animals. A licensee shall not
8finance, enter into a retail installment contract, or make a
9loan for the purchase of a canine or feline. Notwithstanding
10any other provision of this Act, if a lender violates this
11Section, the financing, retail installment contract, or loan
12shall be null and void and the licensee shall have no right to
13collect, receive, or retain any principal, interest, or
14charges related to the loan, retail installment contract, or
15financing.