Illinois General Assembly - Full Text of HB0572
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Full Text of HB0572  102nd General Assembly




HB0572 EnrolledLRB102 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