Chapter 205, FINANCIAL REGULATION

(205 ILCS 5/14) (from Ch. 17, par. 321) Sec. 14. Stock. Unless otherwise provided for in this Act provisions of general application to stock of a state bank shall be as follows: (1) All banks shall have their capital divided into shares of a par value of not less than $1 each and…

(205 ILCS 405/14) (from Ch. 17, par. 4823) Sec. 14. Every licensee, shall, on or before November 15, pay to the Secretary the annual license fee or fees for the next succeeding calendar year and shall at the same time file with the Secretary the annual bond or bonds and the insur…

(205 ILCS 670/14) (from Ch. 17, par. 5414) Sec. 14. Pledge or sale of note. No licensee or other person shall pledge, hypothecate or sell a note entered into under the provisions of this Act by an obligor except to another licensee under this Act, a licensee under the Sales Finan…

(205 ILCS 665/14) (from Ch. 17, par. 5314) Sec. 14. Trust funds; requirements and restrictions. (a) All funds received by a debt management service provider or his agent from and for the purpose of paying bills, invoices, or accounts of a debtor shall constitute trust funds owned…

(205 ILCS 305/14) (from Ch. 17, par. 4415) Sec. 14. Incidental powers. A credit union may exercise such incidental powers as are granted corporations organized under the laws of this State including, to the extent such powers are not inconsistent with powers and prohibitions cont…

(205 ILCS 5/14.1) (from Ch. 17, par. 321.1) Sec. 14.1. Quasi-Reorganization of Capital. (a) For the purposes of declaring dividends pursuant to Section 14(8)(b) of this Act upon a change in control, if a bank: (1) incurs a change in ownership of more than 50% of its voting stock;…

(205 ILCS 405/14.1) Sec. 14.1. All moneys received by the Department under this Act shall be deposited in the Financial Institution Fund created under Section 6z-26 of the State Finance Act. (Source: P.A. 97-315, eff. 1-1-12; 98-463, eff. 8-16-13.)

(205 ILCS 660/14.5) Sec. 14.5. Collection of compensation. Unless exempt from licensure under this Act, no person engaged in or offering to engage in any act or service for which a license under this Act is required may bring or maintain any action in any court of this State to c…

(205 ILCS 740/14a) (was 225 ILCS 425/14a) Sec. 14a. Unlicensed practice; Injunctions. The practice as a collection agency by any person not holding a valid and current license under this Act is declared to be inimical to the public welfare, to constitute a public nuisance, and to…

(205 ILCS 740/14b) (was 225 ILCS 425/14b) Sec. 14b. Penalty of unlawful practice; second and subsequent offenses. Any person that practices or offers to practice as a collection agency in this State without being licensed for that purpose, or whose license is suspended, revoked, …

(205 ILCS 625/15) Sec. 15. Application of amendments. Section 10 and the other changes to this Act made by this amendatory Act of the 96th General Assembly apply to all accounts subject to this Act regardless of the date of execution of the agreement controlling the account. (Sou…

(205 ILCS 745/15) Sec. 15. Application. (a) The governing board of a local government, in conjunction with a depository institution, may submit an application to the Department for the designation of a banking development district. The boundaries of the proposed banking developme…

(205 ILCS 740/15) (was 225 ILCS 425/15) Sec. 15. If any clause, sentence, Section, provision or part of this Act shall be adjudged to be unconstitutional or invalid for any reason, such judgment shall not impair, affect or invalidate the remainder of this Act, which shall be in f…

(205 ILCS 616/15) Sec. 15. Exemptions and limitations. (a) A seller of goods and services on whose premises one or more terminals are established is not, solely by virtue of such establishment or solely by virtue of the processing of interchange transactions in connection with th…

(205 ILCS 725/15) Sec. 15. Blockchain and financial technology promotion. The Department of Commerce and Economic Opportunity shall incorporate into one or more of its economic development marketing and business support programs, events, and activities the following topics: (1) o…

(205 ILCS 5/15) (from Ch. 17, par. 322) Sec. 15. Stock and stockholders. Unless otherwise provided for in this Act, provisions of general application to capital stock, preferred stock, and stockholders of a State bank shall be as follows: (1) There shall be an annual meeting of t…

(205 ILCS 660/15) (from Ch. 17, par. 5233) Sec. 15. Any person who engages in business as a sales finance agency without the license required by this Act shall be guilty of a Class 4 felony. (Source: P.A. 90-437, eff. 1-1-98.)

(205 ILCS 695/15) Sec. 15. Notices to customers of basic safety precautions. The issuer of an access device shall furnish a customer receiving the device with a notice of basic safety precautions that the customer should employ while using an automated teller machine. This inform…

(205 ILCS 715/15) Sec. 15. Arbitration of disputes. In the case of a dispute between the independent data processing servicers regarding any terms or conditions of an interface agreement, or in the event that a dispute regarding proposed terms and conditions results in the failur…

(205 ILCS 700/15) Sec. 15. Recognition of claims. In the absence of a court order or indemnity bond as required by this Act, a financial institution shall not be required to recognize any claim to, or any claim of authority to, exercise control over a deposit account held by the …

(205 ILCS 710/15) Sec. 15. Application of Illinois law. (a) To further the purpose and policies of this Act, the provisions of the following Acts shall be liberally construed: (1) the Illinois Banking Act; and (2) the Foreign Banking Office Act. (b) Subsection (a) of this Section…

(205 ILCS 670/15) (from Ch. 17, par. 5415) Sec. 15. Charges permitted. (a) Every licensee may lend a principal amount not exceeding $40,000 and may charge, contract for, and receive thereon an annual percentage rate of no more than 36%, subject to the provisions of this Act. For …

(205 ILCS 730/15) Sec. 15. Limitations to the use of blockchain. (a) If parties have agreed to conduct a transaction by use of a blockchain and a law requires that a contract or other record relating to the transaction be in writing, the legal effect, validity, or enforceability …

(205 ILCS 305/15) (from Ch. 17, par. 4416) Sec. 15. Membership defined. (1) The membership of a credit union shall be limited to and consist of the subscribers to the articles of incorporation and such other persons within the common bond, as defined in this Act and as set forth …

(205 ILCS 705/15) Sec. 15. Civil remedy. A cause of action, including attorneys fees and costs, shall lie in favor of any person for the unauthorized use of his or her digital signature. (Source: P.A. 90-575, eff. 3-20-98.)

(205 ILCS 665/15) (from Ch. 17, par. 5315) Sec. 15. Rules.) The Secretary shall make and enforce all reasonable rules as shall be necessary for the administration of this Act. Such rulemaking shall be subject to the provisions of the Illinois Administrative Procedure Act. (Source…

(205 ILCS 405/15) (from Ch. 17, par. 4824) Sec. 15. Fines; suspension; revocation. The Secretary may, after 15 business days' notice by registered or certified mail to the licensee at the address set forth in the license, or by email or facsimile transmission if such other method…

(205 ILCS 511/15-10) Sec. 15-10. Fees. (a) It is unlawful for any pawnbroker to charge or collect a greater benefit or percentage upon money advanced, and for the use and forbearance thereof, than the amount specified in subsection (c). Nothing in this Section shall be construed …

(205 ILCS 511/15-15) Sec. 15-15. Display of fee provision. Every pawnbroker shall at all times have and keep Section 15-10 printed in the English and Spanish languages and framed and posted in a prominent and conspicuous position in its place of business, so that the same shall b…

(205 ILCS 511/15-20) Sec. 15-20. Disclosure of article description and pawn terms. (a) Every pawnbroker shall, at the time of making any advancement or pawn, deliver to the person pawning or pledging any property, a memorandum, contract, or note signed by the person pawning the p…

(205 ILCS 511/15-25) Sec. 15-25. Record requirements. (a) Except in municipalities located in counties having 3,000,000 or more inhabitants, every pawnbroker shall keep a standard record book that has been approved by the sheriff of the county in which the pawnbroker does busines…

(205 ILCS 511/15-30) Sec. 15-30. Replacement of articles or property; insurance. (a) If any articles or property pledged are lost or rendered inoperable, the pawnbroker shall replace the articles or property with identical articles or property, except that if the pawnbroker canno…

(205 ILCS 511/15-35) Sec. 15-35. Minors. No pawnbroker shall purchase, take, or receive any pawn, any property of any kind from any minor who is under 18 years of age, or the ownership of which is in, or which is claimed by, any such minor, or which may be in the possession or un…

(205 ILCS 511/15-40) Sec. 15-40. Intoxicated persons; persons convicted of theft. No pawnbroker shall knowingly or recklessly purchase or take any article in pawn or purchase from any person appearing to be intoxicated, nor from any person known to have been convicted of theft. A…

(205 ILCS 511/15-45) Sec. 15-45. Altered property; serial number and manufacturer's identification number. (a) No pawnbroker shall receive or purchase any article if the manufacturer's make, model, or serial number, personal identification number, or identifying marks engraved or…

(205 ILCS 511/15-5) Sec. 15-5. General provisions. (a) It is unlawful for an individual or business entity to conduct business in this State using the word "pawn", "pawnshop", or "pawnbroker" in connection with the business or to transact business in this State in a manner that h…

(205 ILCS 511/15-50) Sec. 15-50. Sale of property. (a) No personal property pledged or received on deposit by any pawnbroker shall be permitted to be redeemed from such pawnbroker for a period of 48 hours after the delivery of the copy and statement required by subsection (b) of …

(205 ILCS 511/15-55) Sec. 15-55. Hold order. (a) For the purposes of this Section, "hold order" means a written legal instrument issued to a pawnbroker by a law enforcement officer commissioned by the law enforcement agency of the municipality or county that licenses and regulate…

(205 ILCS 405/15.1) (from Ch. 17, par. 4825) Sec. 15.1. If the Secretary determines that any licensee is insolvent or is violating this Act, or if the owner, executor, or successor in interest of a currency exchange abandons the currency exchange, he or she shall appoint a receiv…

(205 ILCS 405/15.1a) (from Ch. 17, par. 4826) Sec. 15.1a. If the Secretary determines that a business in receivership should be liquidated, he shall direct the Attorney General to file a complaint in the Circuit Court of the county in which such community currency exchange is loc…

(205 ILCS 405/15.1b) (from Ch. 17, par. 4827) Sec. 15.1b. Liquidation; distribution; priority. The General Assembly finds and declares that community currency exchanges provide important and vital services to Illinois citizens. The General Assembly also finds that in providing su…

(205 ILCS 405/15.1c) (from Ch. 17, par. 4828) Sec. 15.1c. Powers of receiver. Upon the order of the circuit court of the county wherein the community currency exchange being liquidated is located, the receiver may sell or compound any bad or doubtful debt, and on like order may s…

(205 ILCS 405/15.1d) (from Ch. 17, par. 4829) Sec. 15.1d. At the close of a receivership, the receiver shall turn over to the Secretary all books of account and ledgers of such currency exchange for preservation. All records of such receiverships heretofore and hereafter received…

(205 ILCS 405/15.1e) (from Ch. 17, par. 4830) Sec. 15.1e. Upon the filing of a complaint by the Attorney General for the orderly liquidation and dissolution of a community currency exchange, as provided in Section 15.1a, all pending suits and actions upon unsecured claims against…

(205 ILCS 405/15.2) (from Ch. 17, par. 4831) Sec. 15.2. No community currency exchange shall determine its affairs and close up its business unless it shall first deposit with the Secretary an amount of money equal to the whole of its debts, liabilities and lawful demands against…

(205 ILCS 660/15.5) Sec. 15.5. Civil action. A claim of violation of this Act may be asserted in a civil action. Additionally, a court may award reasonable attorney's fees and court costs to a person asserting a claim under this Section. (Source: P.A. 104-516, eff. 6-26-26.)

(205 ILCS 670/15a) (from Ch. 17, par. 5416) Sec. 15a. Credit insurance. Voluntary credit life insurance, credit accident and health insurance, involuntary unemployment insurance, credit property insurance, or other credit insurance policies approved or permitted by the Director o…

(205 ILCS 670/15b) (from Ch. 17, par. 5417) Sec. 15b. Property insurance. (a) A licensee may require the obligor to provide property damage insurance on real and personal property, all or part of which serves as security against reasonable risks of loss, damage, and destruction i…

(205 ILCS 670/15d) (from Ch. 17, par. 5419) Sec. 15d. Extra charges prohibited; exceptions. No amount in addition to the charges authorized by this Act shall be directly or indirectly charged, contracted for, or received, except (1) lawful fees paid to any public officer or agenc…

(205 ILCS 670/15e) (from Ch. 17, par. 5419.1) Sec. 15e. Insurance. (a) A licensee shall not be considered to be the obligor's agent or broker in connection with the purchase or sale of insurance under this Act for any purpose. (b) Consideration or another thing of value may be pa…