Senate Sponsors: FAWELL. Short description: VEHICLE REPOSSESSION-PROCEDURE Synopsis of Bill as introduced: Amends the Illinois Vehicle Code with regard to transfer of title after repossession of a vehicle. Removes provision requiring the lienholder to obtain a repossession title prior to the sale of a repossessed vehicle, providing instead for a 21 day notice of redemption period to the owner after repossession and the provision of an affidavit of defense to the owner, who may file such affidavit to be received by the lienholder within 21 days of the lienholder's notice of repossession to halt the transfer of title. Provides that upon reselling the vehicle the lienholder shall provide to the purchaser the certificate of title, or security agreement if the lienholder does not have the certificate of title, and an affidavit of repossession, with which documents the purchaser may obtain a new certificate of title. Amends the Consumer Installment Loan Act, the Illinois Fairness in Lending Act, and the Motor Vehicle Retail Installment Sales Act to remove the procedural repossession provisions and reference the transfer of title provisions in the Illinois Vehicle Code. Makes other changes. Effective January 1, 1999. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status