Full Text of HB3935 97th General Assembly
HB3935sam001 97TH GENERAL ASSEMBLY | Sen. William R. Haine Filed: 4/18/2012
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| 1 | | AMENDMENT TO HOUSE BILL 3935
| 2 | | AMENDMENT NO. ______. Amend House Bill 3935 as follows:
| 3 | | on page 1, line 5, by replacing "Section 20" with "Sections 11 | 4 | | and 20"; and | 5 | | on page 1, by inserting immediately below line 5 the following:
| 6 | | "(205 ILCS 670/11) (from Ch. 17, par. 5411)
| 7 | | Sec. 11. Books and records - Reports.
| 8 | | (a) Every licensee shall retain and use in his business or | 9 | | at another
location approved by the Director such records as
| 10 | | are required by the Director to enable the Director to | 11 | | determine
whether the licensee is complying with the provisions | 12 | | of this Act and the
rules and regulations promulgated pursuant | 13 | | to this Act. Every
licensee shall preserve the records of any | 14 | | loan for at least 2 years after
making the final entry for such | 15 | | loan.
Accounting systems maintained in whole or in part by |
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| 1 | | mechanical or
electronic data processing methods which provide | 2 | | information equivalent to
that otherwise required and follow | 3 | | generally accepted accounting principles
are acceptable for | 4 | | that purpose, if approved by the Director in writing.
| 5 | | (b) Each licensee shall annually, on or before the first | 6 | | day of March,
file a report with the Director giving such | 7 | | relevant information as
the Director may reasonably require | 8 | | concerning the business and
operations during the preceding | 9 | | calendar year of each licensed place of
business conducted by | 10 | | the licensee. The report must be received by the
Department on | 11 | | or before March 1. The report shall be
made under oath and in a | 12 | | form prescribed by the Director. Whenever a
licensee operates 2 | 13 | | or more licensed offices or whenever 2 or more
affiliated | 14 | | licensees operate licensed offices, a composite report of such
| 15 | | group of licensed offices may be filed in lieu of individual | 16 | | reports. The
Director may make and publish annually an analysis | 17 | | and
recapitulation
of such reports. The Director may fine each | 18 | | licensee $25 for each
day
beyond March 1 such report is filed.
| 19 | | (c) Each licensee shall include in the report filed on or
| 20 | | before the first day of March of each year in accordance with
| 21 | | subsection (b) of this Section the following information: | 22 | | (1) the number of post-judgment body attachment orders
| 23 | | issued in civil actions initiated by the
licensee and | 24 | | arising from loans made by the licensee
under this Act; | 25 | | (2) for any post-judgment body attachment order
| 26 | | reported under paragraph (1) of this subsection, the court
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| 1 | | and case number in which the body attachment order was | 2 | | issued; | 3 | | (3) for any post-judgment body attachment order
| 4 | | reported under paragraph (1) of this subsection, the amount | 5 | | of
the cash bond, if any, posted by the judgment debtor; | 6 | | and | 7 | | (4) for any post-judgment body attachment order
| 8 | | reported under paragraph (1) of this subsection, a copy of | 9 | | the
order, if any, providing for the disposition of the | 10 | | cash
bond. | 11 | | (Source: P.A. 92-398, eff. 1-1-02.)"; and
| 12 | | on page 2, line 17, after the period, by inserting " For the | 13 | | purposes of this subsection (d), a loan made to an Illinois | 14 | | consumer at a brick and mortar location in a state other than | 15 | | Illinois is not a loan made pursuant to this Act. "; and | 16 | | on page 2, immediately below line 18, by inserting the | 17 | | following: | 18 | | "Section 8. The Collection Agency Act is amended by adding | 19 | | Section 8d as follows: | 20 | | (225 ILCS 425/8d new) | 21 | | Sec. 8d. Post-judgment body attachment orders. | 22 | | (a) Each licensee shall annually, on or before May 31, file |
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| 1 | | a
report with the Secretary containing the following | 2 | | information for the previous calendar year: | 3 | | (1) the number of post-judgment body attachment orders
| 4 | | issued in civil actions initiated by the licensee; | 5 | | (2) for any post-judgment body attachment order
| 6 | | reported under paragraph (1) of this subsection, the court
| 7 | | and case number in which the body attachment order was
| 8 | | issued; | 9 | | (3) for any post-judgment body attachment order | 10 | | reported under paragraph (1) of this subsection, the amount | 11 | | of
the cash bond, if any, posted by the judgment debtor; | 12 | | and | 13 | | (4) for any post-judgment body attachment order
| 14 | | reported under paragraph (1) of this subsection, a copy of | 15 | | the
order, if any, providing for the disposition of the | 16 | | cash bond. | 17 | | (b) The Secretary may fine each licensee $25 for each day
| 18 | | beyond May 31 that the report is not filed. "; and | 19 | | on page 6, line 26, after the period, by inserting " For the | 20 | | purposes of this subsection (h), a loan made to an Illinois | 21 | | consumer at a brick and mortar location in a state other than | 22 | | Illinois is not a loan made pursuant to this Act. ".
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