IL HB3236

Sales finance agencies are prohibited from purchasing retail installment contracts, retail charge agreements, or outstanding balances for the sale of canines or felines.

Sales finance agencies are prohibited from making loans secured by retail installment contracts, retail charge agreements, or outstanding balances for the sale of canines or felines.

Any sales finance agency that violates these prohibitions has no right to collect principal, interest, or charges related to the contract, agreement, or loan, and such loans are null and void.

No person or entity may make a secured loan for the purchase of a canine or feline; any such loan is null and void.

No retail seller may enter into a retail installment transaction for the purchase of a canine or feline; violators have no right to collect any payments and the transaction is null and void.