Illinois General Assembly - Full Text of HB3091

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Full Text of HB3091 97th General Assembly

Introduced   Engrossed
House Amendment 001   Senate Amendment 001   Senate Amendment 002
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HB3091sam001 97TH GENERAL ASSEMBLY
Sen. Heather A. Steans
Filed: 4/19/2012

09700HB3091sam001 LRB097 09070 JLS 68602 a

1 AMENDMENT TO HOUSE BILL 3091
2     AMENDMENT NO. ______. Amend House Bill 3091 on page 2 by
3 inserting immediately below line 20 the following:

4     "Section 10. The Rental-Purchase Agreement Act is amended
5 by adding Section 1.5 as follows:

6     (815 ILCS 655/1.5 new)
7     Sec. 1.5. Construction of Act. A rental-purchase agreement
8 shall 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.".

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