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IL HB5141

Bill

Official Source

Status

Passed

8/19/2018

Primary Sponsor

Sara Jimenez

Click for details

Origin

House of Representatives

100th General Assembly

AI Summary

  • Changes the redemption period for debts and liabilities of closing community currency exchanges from three years to one year in the Currency Exchange Act.

  • Moves the annual license fee payment deadline for Consumer Installment Loan Act licensees from December 15th to December 1st.

  • Changes the payday loan license renewal deadline from December 31st to December 1st under the Payday Loan Reform Act.

  • Allows payday loan licensees to obtain a separate Consumer Installment Loan Act license exclusively for making title-secured loans while continuing to service outstanding Consumer Installment Loan Act loans.

Legislative Description

CURRENCY EXCHANGE-PROPERTY

Last Action

Public Act . . . . . . . . . 100-0958

8/19/2018

Committee Referrals

Financial Institutions5/1/2018
Assignments4/25/2018
Financial Institutions3/7/2018
Rules2/16/2018

Full Bill Text

No bill text available