Illinois Compiled Statutes 225 Professions, Occupations, and Business Operations: Article -

• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 1
  Short title. This Act may be cited as the Collateral Recovery Act. (Source: P.A. 97-576, eff. 7-1-12.)
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 5
  Findings; purpose. The General Assembly finds that collateral recovery practices affect public health, safety, and welfare and declares that the purpose of this Act is...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 10
  Definitions. In this Act: "Assignment" means a written authorization by a legal owner, lien holder, lessor, lessee, or licensed repossession agency authorized by a legal...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 15
  Powers of the Commission. (a) The Commission shall regulate repossession agencies and their employees, managers or agents in accordance with this Act, and to that...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 20
  Rulemaking enforcement. (a) The Commission may adopt any rules and procedures necessary to enforce and administer the provisions of this Act. (b) The Commission may,...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 25
  Recovery ticket. (a) A licensed repossession agency must purchase a recovery ticket from the Commission for each repossessed vehicle or collateral. The recovery ticket must...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 30
  License or registration required. (a) It shall be unlawful for any person or entity to repossess a vehicle or collateral in this State, attempt to...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 35
  Application for repossession agency licensure. (a) Application for original licensure as a repossession agency shall be made to the Commission in writing on forms prescribed...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 37
  Enforcement. It shall be unlawful for any repossession agency, employee, or agent of a repossession agency to operate in this State without a valid license...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 40
  Qualifications for recovery manager; identification card. (a) An applicant is qualified for licensure as a recovery manager if that person meets all of the following...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 45
  Repossession agency employee requirements. (a) All employees of a licensed repossession agency whose duties include the actual repossession of collateral must apply for a recovery...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 50
  Fees. (a) The license and permit fees required under this Act are as follows: (1) Class "R" license (recovery agency), $825. (2) Class "RR" license...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 55
  Social Security Number or Federal Employee Identification Number on application. In addition to any other information required by the Commission to be contained in the...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 60
  Criminal background check. The Commission shall require that each individual, partner of a partnership, officer of a corporation, or owner of a limited liability company,...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 65
  Licensed recovery manager in control of repossession agency. (a) As a condition of licensure, a licensed recovery manager must, at all times, be in control...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 70
  License extension in cases of death or disassociation. (a) In the case of the death of a person who is licensed individually as a repossession...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 75
  Licenses and recovery permits; renewals; restoration; person in military service. (a) An original Class "R" license, Class "RR" license, and Class "MR" license shall expire...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 80
  Refusal, revocation, or suspension. (a) The Commission may refuse to issue or renew or may revoke any license or recovery permit or may suspend, place...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 85
  Consideration of past crimes. (a) Notwithstanding the prohibitions set forth in Sections 40 and 45 of this Act, when considering the denial of a license...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 90
  Insurance required. No repossession agency, branch office, or remote storage location license shall be issued unless the applicant first files with the Commission a certification...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 95
  Display of license required. At all times, a repossession agency's license shall be conspicuously displayed at the agency location on record with the Commission. (Source:...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 100
  Local government; home rule. (a) Nothing in this Act shall prevent local authorities in any municipality, county, or municipality and county, by ordinance and within...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 105
  Notification of law enforcement. Prior to a repossession, the licensed repossession agency or repossession agency employee shall notify the appropriate law enforcement agency located in...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 110
  Repossession of vehicles. (a) With regard to collateral subject to a security agreement, repossession occurs when the licensed repossession agency employee gains entry into the...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 115
  Deposit of fees and fines. All of the fees and fines collected under this Act shall be deposited into the Transportation Regulatory Fund and, subject...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 120
  Payments; penalty for insufficient funds. Any person or entity who delivers a check or other payment to the Commission that is returned to the Commission...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 125
  Filings, formal complaints. All repossession activity correspondence relating to complaints and alleged violations of this Act shall be submitted to the Commission in writing on...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 130
  Roster. The Commission shall maintain a roster of names and addresses of all persons who hold valid licenses and recovery permits and all persons whose...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 135
  Violations; injunctions; cease and desist order. (a) If any person or entity violates a provision of this Act, then the Commission may, in the name...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 140
  Investigation; notice and hearing. The Commission may investigate the actions or qualifications of any person or entity holding or claiming to hold a license or...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 145
  Record of proceeding. The Commission, at its expense, shall preserve a record of all proceedings at the formal hearing of any case. The notice of...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 150
  Subpoenas; oaths; attendance of witnesses. The Commission has the power to subpoena and to bring before it any person and to take testimony either orally...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 155
  Recommendations for disciplinary action. At the conclusion of the hearing, the Commission shall prepare a written report of its findings and recommendations. The report shall...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 160
  Rehearing. In any hearing involving disciplinary action against a license holder or recovery permit holder, a copy of the Commission's report shall be served upon...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 165
  Appointment of a hearing officer. The Commission has the authority to appoint any attorney duly licensed to practice law in the State of Illinois to...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 170
  Hearing by other examiner. Whenever the Commission is not satisfied that substantial justice has been done in revoking or suspending a license or recovery permit,...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 175
  Order; certified copy. An order or a certified copy thereof, over the seal of the Commission, shall be prima facie proof: (a) that the seal...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 180
  Restoration. At any time after the suspension or revocation of any license or recovery permit, the Commission may restore the license or recovery permit to...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 185
  License and recovery permit surrender. Upon the revocation or suspension of any license or recovery permit, the license holder or recovery permit holder shall immediately...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 190
  Summary suspension. The Commission may summarily suspend the license of a repossession agency, the license of a recovery manager, or the recovery permit of an...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 195
  Judicial review. All final administrative decisions of the Commission are subject to judicial review under the Administrative Review Law and its rules. The term "administrative...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 200
  Violations; criminal penalties. Any person who is found to have violated any provision of this Act is guilty of a Class A misdemeanor for the...
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 205
  Illinois Administrative Procedure Act. The Illinois Administrative Procedure Act is expressly adopted and incorporated in this Act as if all of the provisions of that...
• Illinois Professions, Occupations, and Business Operations: Article -
  Section scheduled to be repealed on January 1, 2022)
      Sec. 900. (Amendatory provisions; text omitted
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 900
  (Amendatory provisions; text omitted). (Source: P.A. 97-576, eff. 7-1-12; text omitted.)
• Illinois Collateral Recovery Act. - 225 ILCS 422, Section 999
  Effective date. This Act takes effect on July 1, 2012. (Source: P.A. 97-576, eff. 7-1-12.)