Receipts; statements of account; evidence of payment

110 ILCS 992/7-90, under Educational Income Share Agreements.

110 ILCS 992/7-90

(110 ILCS 992/7-90)     Sec. 7-90. Receipts; statements of account; evidence of payment.     (a) The EISA provider shall deliver or mail to the consumer, without request, a written receipt for each payment made pursuant to an EISA. A periodic statement showing a payment received by mail complies with this subsection (a).     (b) An EISA provider shall provide a written payment history to a borrower upon request at no cost within 21 calendar days of receiving the request.     (c) An EISA provider shall indicate on its website that a borrower may request a payoff statement. An EISA provider shall provide the payoff statement within 10 days, including information the requester needs to pay off the loan. If a payoff is made, the EISA provider must send a paid-in-full notice within 30 days.

(Source: P.A. 104-383, eff. 8-15-25.)