Bill Text: IL HB2541 | 2015-2016 | 99th General Assembly | Introduced

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Bill Title: Amends the Credit Card Issuance Act. Provides that a credit card issuer may not automatically renew a credit card that has not been used to perform a credit card transaction within the 12 months immediately preceding the renewal.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2015-04-24 - Rule 19(a) / Re-referred to Rules Committee [HB2541 Detail]

Download: Illinois-2015-HB2541-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 HB2541 Introduced 2/18/2015, by Rep. Monique D. Davis SYNOPSIS AS INTRODUCED:
815 ILCS 140/7.3 new
Amends the Credit Card Issuance Act. Provides that a credit card issuer may not automatically renew a credit card that has not been used to perform a credit card transaction within the 12 months immediately preceding the renewal.
LRB099 09927 JLS 30143 b
A BILL FOR
HB2541 LRB099 09927 JLS 30143 b
AN ACT concerning business.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Credit Card Issuance Act is amended by
adding Section 7.3 as follows:
(815 ILCS 140/7.3 new)
Sec. 7.3. Automatic renewals limited. A credit card issuer
may not renew a credit card that has not been used to perform a
credit card transaction within the 12 months immediately
preceding the renewal without the written consent of the person
to whom the credit card is issued.