Illinois Compiled Statutes 815 Business Transactions: Article 15 -

• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-1
  Short title. This Article may be cited as the Illinois Loan Brokers Act of 1995, and references in this Article to "this Act" mean...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-5
  Definitions. As used in this Act, the terms defined in the Sections following this Section and preceding Section 15-6 have the meanings ascribed therein....
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-5.03
  Borrower. "Borrower" means any person who has signed an agreement with a loan broker that provides for the services described in Section 15-5.15, for...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-5.05
  Creditor. "Creditor" means any person to whom a loan is initially payable on the face of the note or contract evidencing the loan. (Source:...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-5.10
  Loan. "Loan" means any agreement to advance money or property in return for the promise to make payments for the money or property. (Source:...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-5.15
  Loan broker. (a) "Loan Broker" means any person who, in return for a fee, commission, or other compensation from any person, promises to procure...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-5.20
  Person. "Person" means an individual, a corporation, trust, limited liability company, partnership, a joint stock company, limited liability partnership, incorporated or unincorporated association, or...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-10
  Registration required. It shall be unlawful for any person to engage in the business of loan brokering unless registered under this Act. (Source: P.A....
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-15
  Application for registration; contents; bond; issuance; effective date; consent to Secretary of State as process agent. (a) In order to be registered under this...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-20
  Renewal of registration. (a) A loan broker may not continue engaging in the business of loan brokering unless the broker's registration is renewed annually....
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-25
  Fees and funds; accounting and deposit in Securities Audit and Enforcement Fund. (a) The Secretary of State shall by rule or regulation impose and...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-30
  Disclosure document to be provided by loan broker. (a) At the time any person signs a contract for the services of a loan broker,...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-30.5
  Exemption from disclosure requirement. The disclosure requirement of Section 15-30 shall not apply where the borrower to be represented by the loan broker: (a)...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-35
  Contracts required to be in writing; retention of copy by borrowing party. To be enforceable, every contract for the services of a loan broker...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-40
  Denial, suspension or revocation of registration; orders and hearing. (a) The Secretary of State may deny, suspend or revoke the registration of a loan...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-45
  Powers of Secretary of State; privilege against self-incrimination; admissibility into evidence. (a) The Secretary of State may do the following: (1) Adopt rules and...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-50
  Evidentiary matters. (a) Certified copies of documents or records admissible in actions or proceedings under this Act. Copies of any statement or document filed...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-55
  Violations; administrative fines; enforcement. (a) If the Secretary of State determines, after notice and opportunity for a hearing, that a person has violated this...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-60
  Violations; liability of loan broker to damaged parties; rights of prospective borrower. A person who violates this Act, in connection with a contract for...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-65
  Violation. Any person who willfully violates this Act commits a Class 4 felony. (Source: P.A. 89-209, eff. 1-1-96.)
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-70
  Rescission of contract under Truth-in-Lending Law; notice to creditor. (a) If a transaction for which a loan broker has charged any fee or collected...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-75
  Account numbers required; retention and maintenance of records. (a) Each loan broker agreement shall be given an account number and all instruments taken in...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-80
  Persons exempt from registration and other duties; burden of proof thereof. (a) The following persons are exempt from the requirements of Sections 15-10, 15-15,...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-85
  Fraudulent and prohibited acts. (a) A loan broker shall not, in connection with a contract for the services of a loan broker, either directly...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-90
  Deposit of moneys. All moneys received under this Act shall be deposited into the Securities Audit and Enforcement Fund. (Source: P.A. 89-209, eff. 1-1-96.)
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-95
  Service of process. (a) A person acting as a loan broker, unless exempt from registration under this Act, shall constitute an appointment of the...
• Illinois Loan Brokers Act of 1995. - 815 ILCS 175, Section 15-100
  Immunity for official acts. In no case shall the Secretary of State or any of his or her employees or agents, in the administration...

Last modified: February 18, 2015