Bill Title: Amends the Consumer Legal Funding Act. Provides that, notwithstanding any other law, a consumer legal funding may be refinanced as authorized by rule. Provides that the Department of Financial and Professional Regulation shall publish first notice of a rule concerning the refinancing of consumer legal fundings in the Illinois Register in accordance with the Illinois Administrative Procedure Act within 120 days after the effective date of the amendatory Act. Authorizes the Department to adopt rules to permit the refinancing of consumer legal fundings. Makes conforming changes to contract disclosures.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed) 2024-05-07 - House Floor Amendment No. 2 Referred to Rules Committee [SB3314 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Engrossed	2024-04-12	HTML/Text	Link	View
Introduced	2024-02-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
House Amendment 002	2024-05-07	Proposed	HTML/Text	Link	View
House Amendment 001	2024-04-29	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3314 currently on file.

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