Circumstances voiding mandatory arbitration provisions

815 ILCS 137/130, under High Risk Home Loan Act.

815 ILCS 137/130

(815 ILCS 137/130)

    Sec. 130. Circumstances voiding mandatory arbitration provisions. Without regard to whether a borrower is acting individually or on behalf of others similarly situated, a mandatory arbitration provision of a high risk home loan agreement that is oppressive, unfair, unconscionable, or substantially in derogation of the rights of the borrower is void.

(Source: P.A. 93-561, eff. 1-1-04.)