COLLATERAL RECOVERY ACT
Summary
Creates the Collateral Recovery Act. Provides for the licensure of repossession agencies, the certification of recovery managers, and the registration of repossession agency employees. Establishes the Illinois Repossession and Recovery Board. Grants rulemaking authority to the Department of Financial and Professional Regulation. Sets forth provisions concerning qualifications, application, examination, assignment, insurance requirements, and administrative proceedings. Prohibits recovery work on a contingency basis.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2006
Committee Review
Floor Vote
Governor
Introduced Jan 26, 2006
Last action Jan 31, 2006
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
0
Committee
2
Jan 26, 2006
House · Introduced
Motion Filed Rep. Frank J. Mautino; Table House Bill 4402 Pursuant to Rule 60(b)
Jan 18, 2006
House · Referred to committee
Assigned to Financial Institutions Committee
Jan 10, 2006
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Frank J. Mautino
DDemocratic
Ask Maddy
·
AI policy assistant
Ask Maddy about HB 4402
Scope: IL
Hi! I can help you understand HB 4402. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline