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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB1991 Introduced , by Rep. John E. Bradley SYNOPSIS AS INTRODUCED:
| | 720 ILCS 5/39-1 | from Ch. 38, par. 39-1 |
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Amends the Criminal Code of 1961. Makes a technical change in a Section
concerning usury.
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| | A BILL FOR |
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| | HB1991 | | LRB097 09698 RLC 49835 b |
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| 1 | | AN ACT concerning criminal law.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Criminal Code of 1961 is amended by changing |
| 5 | | Section 39-1 as follows:
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| 6 | | (720 ILCS 5/39-1) (from Ch. 38, par. 39-1)
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| 7 | | Sec. 39-1. Criminal
Usury. |
| 8 | | (a) Any person commits criminal usury when, in exchange for |
| 9 | | either a
loan of money or other property or forbearance from |
| 10 | | the
the collection of such
a loan, he knowingly contracts for |
| 11 | | or receives from an individual, directly
or indirectly, |
| 12 | | interest, discount or other consideration at a rate greater
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| 13 | | than 20% per annum either before or after the maturity of the |
| 14 | | loan. |
| 15 | | (b) When a person has in his personal or constructive |
| 16 | | possession
records, memoranda, or other documentary record of |
| 17 | | usurious loans it shall
be prima facie evidence that he has |
| 18 | | violated Subsection 39-1(a) hereof.
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| 19 | | (Source: P.A. 76-1879.)
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