No real estate security in certain cases

205 ILCS 670/16b — under Consumer Installment Loan Act.

205 ILCS 670/16b

(205 ILCS 670/16b) (from Ch. 17, par. 5422)

Sec. 16b. No real estate security in certain cases. For loans with an original principal amount of $3,000 or less, a licensee shall not take any security interest in real estate, except such lien as results from obtaining a judgment.

(Source: P.A. 84-1004.)