REGULATION-COLLATERAL RECOVERY
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
failed
1 of 4 stages cleared
Introduction
Jan 2007
Committee Review
Floor Vote
Governor
Introduced Jan 31, 2007
Last action Jan 13, 2009
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
12
Key actions
0
Committee
5
Amendments
2
Jan 13, 2009
Senate · Failed
Session Sine Die
Mar 16, 2007
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Rules
Mar 1, 2007
Senate · Referred to committee
Senate Committee Amendment No. 2 Referred to Rules
Mar 1, 2007
Senate · Amendment offered
Senate Committee Amendment No. 2 Filed with Secretary by Sen. Mike Jacobs
Feb 21, 2007
Senate · Referred to committee
Senate Committee Amendment No. 1 Referred to Rules
Feb 21, 2007
Senate · Amendment offered
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Mike Jacobs
Feb 7, 2007
Senate · Referred to committee
Assigned to Licensed Activities
Jan 31, 2007
Senate · Referred to committee
Referred to Rules
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Mike Jacobs
DDemocratic
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