98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB1950

 

Introduced , by Rep. Tom Cross

 

SYNOPSIS AS INTRODUCED:
 
815 ILCS 205/4b  from Ch. 17, par. 6411

    Amends the Interest Act. Makes a technical change in a Section concerning the adoption of certain rules.


LRB098 05867 WGH 35906 b

 

 

A BILL FOR

 

HB1950LRB098 05867 WGH 35906 b

1    AN ACT concerning business.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Interest Act is amended by changing Section
54b as follows:
 
6    (815 ILCS 205/4b)  (from Ch. 17, par. 6411)
7    Sec. 4b. In order to assure compliance with applicable
8Federal law, any State agency having chartering or licensing
9powers or regulatory or supervisory authority over a class of
10creditors affected by this Act may promulgate rules and and
11regulations to carry out the disclosure and other requirements
12pertaining to the extension of credit under this Act and the
13advertising of such extensions of credit.
14(Source: P.A. 76-1775.)