Illinois Compiled Statutes 205 Financial Regulation: Article -

• Illinois Debt Management Service Act. - 205 ILCS 665, Section 1
  Declaration of policy. The business of providing debt management services to individuals is a matter of public interest and concern and is subject to...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 1.5
  Purpose and construction. The purpose of this Act is to protect consumers who enter into agreements with debt management service providers and to regulate debt...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 2
  Definitions. As used in this Act: "Credit counselor" means an individual, corporation, or other entity that is not a debt management service that provides (1)...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 3
  Requirement of license. It shall be unlawful for any person to operate a debt management service or engage in that business as herein defined...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 4
  Application for license. Application for a license to engage in the debt management service business in this State shall be made to the Secretary and...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 5
  Qualifications for license. Upon the filing of the application and the approval of the bond and the payment of the specified fees, the Secretary may...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 6
  Renewal of license. Each debt management service provider under the provisions of this Act may make application to the Secretary for renewal of its license,...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 7
  License, display and location. Each license issued shall be kept conspicuously posted in the place of business of the debt management service provider. The business...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 8.5
  Temporary location. The Secretary may approve a temporary additional business location for the purpose of allowing a debt management service provider to conduct business outside...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 9
  Denial of license. Any application for a license shall be approved or denied within 60 days of the filing of a completed application with the...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 10
  Revocation, suspension, or refusal to renew license. (a) The Secretary may revoke or suspend or refuse to renew any license if he finds that: (1)...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 11
  Contracts, books, records and contract cancellation. Each debt management service provider shall furnish to the Secretary, when requested, a copy of the contract entered into...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 11.5
  Examination of debt management service provider. The Secretary at any time, either in person or through an appointed representative, may examine the condition and affairs...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 12
  Fees and charges of debt management service providers. A debt management service provider may not charge a debtor any fees or penalties except the following:...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 12.1
  All moneys received by the Department of Financial Institutions under this Act, except moneys received for the Debt Management Service Consumer Protection Fund, shall be...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 13
  Prohibitions. (1) No licensee shall advertise, in any manner whatsoever, any statement or representation with regard to the rates, terms or conditions of debt management...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 13.5
  (Repealed). (Source: P.A. 90-545, eff. 1-1-98. Repealed by P.A. 96-1420, eff. 8-3-10.)
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 14
  Trust funds; requirements and restrictions. (a) All funds received by a debt management service provider or his agent from and for the purpose of paying...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 15
  Rules.) The Secretary shall make and enforce all reasonable rules as shall be necessary for the administration of this Act. Such rulemaking shall be subject...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 15.1
  (Repealed). (Source: P.A. 90-545, eff. 1-1-98. Repealed by P.A. 96-1420, eff. 8-3-10.)
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 15.2
  (Repealed). (Source: Laws 1965, p. 2494. Repealed by P.A. 96-1420, eff. 8-3-10.)
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 15.3
  (Repealed). (Source: P.A. 90-545, eff. 1-1-98. Repealed by P.A. 96-1420, eff. 8-3-10.)
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 16
  Penalties. (a) Any person who engages in the business of debt management service without a license shall be guilty of a Class 4 felony. (b)...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 16.5
  Additional liability for unlicensed activity. Any person who, without the required license, engages in conduct requiring a license under this Act, shall be liable to...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 16.6
  Debt Management Service Consumer Protection Fund. (a) A special non-appropriated income-earning fund is hereby created in the State Treasury, known as the Debt Management Service...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 17
  Injunction. To engage in debt management service, render financial service, or accept debtors' funds, as defined in this Act, without a valid license so to...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 18
  Review. All final administrative decisions of the Secretary hereunder shall be subject to judicial review pursuant to the provisions of the Administrative Review Law, and...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 19
  If any clause, sentence, section, provision or part of this Act shall be adjudged to be unconstitutional or invalid for any reason by any...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 20
  Cease and desist orders. (a) The Secretary may issue a cease and desist order to any licensee, or other person doing business without the required...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 20.5
  Receivership. (a) If the Secretary determines that a licensee is insolvent or is violating this Act, he or she may appoint a receiver. Under the...
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 21
  Effective date. This Act shall become effective on the first day of January 1958. (Source: Laws 1957, p. 2164.)
• Illinois Debt Management Service Act. - 205 ILCS 665, Section 22
  Title of Act. This Act may be cited as the Debt Management Service Act. (Source: P.A. 90-545, eff. 1-1-98.)

Last modified: February 18, 2015