(225 ILCS 425/3) (from Ch. 111, par. 2006)
(Section scheduled to be repealed on January 1, 2016)
Sec. 3. A person, association, partnership, corporation, or other legal entity acts as a collection agency when he or it:
(a) Engages in the business of collection for others
of any account, bill or other indebtedness;
(b) Receives, by assignment or otherwise, accounts,
bills, or other indebtedness from any person owning or controlling 20% or more of the business receiving the assignment, with the purpose of collecting monies due on such account, bill or other indebtedness;
(c) Sells or attempts to sell, or gives away or
attempts to give away to any other person, other than one registered under this Act, any system of collection, letters, demand forms, or other printed matter where the name of any person, other than that of the creditor, appears in such a manner as to indicate, directly or indirectly, that a request or demand is being made by any person other than the creditor for the payment of the sum or sums due or asserted to be due;
(d) Buys accounts, bills or other indebtedness and
engages in collecting the same; or
(e) Uses a fictitious name in collecting its own
accounts, bills, or debts with the intention of conveying to the debtor that a third party has been employed to make such collection.
(Source: P.A. 94-414, eff. 12-31-05; 95-437, eff. 1-1-08.)
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Last modified: February 18, 2015