Rep. Dan Caulkins
Filed: 5/19/2021
 
 

 

 

 
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1
AMENDMENT TO SENATE BILL 1921 




2    AMENDMENT NO. ______. Amend Senate Bill 1921, AS AMENDED, 
3by replacing everything after the enacting clause with the 
4following:

 
5    "Section 5. The Predatory Loan Prevention Act is amended  
6by changing Section 15-1-15 as follows:
 
7    (815 ILCS 123/15-1-15)

8    Sec. 15-1-15. Applicability. 
9    (a) Except as otherwise provided in this Section, this Act 
10applies to any person or entity that offers or makes a loan to 
11a consumer in Illinois.
12    (b) The provisions of this Act apply to any person or 
13entity that seeks to evade its applicability by any device, 
14subterfuge, or pretense whatsoever.
15    (c) Banks, savings banks, savings and loan associations, 
16credit unions, and insurance companies organized, chartered, 
 
 
10200SB1921ham002- 2 -LRB102 12083 JLS 26827 a

1or holding a certificate of authority to do business under the 
2laws of this State or any other state or under the laws of the 
3United States are exempt from the provisions of this Act.

4    (d) Pawnbrokers, as defined in Section 1 of the Pawnbroker 
5Regulation Act, are exempt from the provisions of this Act. 
6(Source: P.A. 101-658, eff. 3-23-21.)".