Chapter 815 — BUSINESS TRANSACTIONS

(815 ILCS 602/5-40) Sec. 5-40. Contract or agreement provisions. (a) It is unlawful for any person to offer or sell any business opportunity required to be registered unless the business opportunity contract or agreement is in writing and a copy of the contract or agreement is gi…

(815 ILCS 602/5-45) Sec. 5-45. Denial, suspension, or revocation of registration. (a) The Secretary of State may issue an order denying effectiveness to, or suspending or revoking the effectiveness of, a registration if the Secretary of State finds that the order is in the public…

(815 ILCS 602/5-5) Sec. 5-5. Definitions. As used in this Law, the terms defined in the Sections following this Section and preceding Section 5-6 have the meanings ascribed therein. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 602/5-5.05) Sec. 5-5.05. Advertising. "Advertising" means any circular, prospectus, advertisement or other material or any electronic communication including, but not limited to, radio, television, pictures or similar means used in connection with an offer or sale of an…

(815 ILCS 602/5-5.10) Sec. 5-5.10. Business opportunity. (a) "Business opportunity" means a contract or agreement, between a seller and purchaser, express or implied, orally or in writing, wherein it is agreed that the seller or a person recommended by the seller shall provide to…

(815 ILCS 602/5-5.15) Sec. 5-5.15. Marketing plan. "Marketing plan" means advice or training, provided to the purchaser by the seller or a person recommended by the seller, pertaining specifically to the sale of any enterprise, product, equipment, supplies or services and the adv…

(815 ILCS 602/5-5.20) Sec. 5-5.20. Offer or offer to sell. "Offer" or "offer to sell" includes every attempt to dispose of a business opportunity for value or solicitation of an offer to purchase a business opportunity. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 602/5-5.25) Sec. 5-5.25. Ongoing business. "Ongoing business" means an existing business that, for at least 6 months prior to the offer, has been operated from a specific location, has been open for business to the general public and has substantially all of the equipme…

(815 ILCS 602/5-5.30) Sec. 5-5.30. Person. "Person" means an individual, corporation, trust, partnership, a joint stock company, limited liability partnership, limited liability company, incorporated or unincorporated association or any other entity. (Source: P.A. 92-308, eff. 1-…

(815 ILCS 602/5-5.35) Sec. 5-5.35. Purchaser. "Purchaser" means a person who enters into a contract or agreement for the acquisition of a business opportunity or a person to whom an offer to sell a business opportunity is directed. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 602/5-5.40) Sec. 5-5.40. Sale or sell. "Sale" or "Sell" means every contract or agreement of sale, contract to sell, disposition of a business opportunity or interest in a business opportunity for value. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 602/5-5.45) Sec. 5-5.45. Seller. "Seller" means a person who sells or offers to sell a business opportunity or any agent or person who directly or indirectly acts on behalf of such person. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 602/5-5.50) Sec. 5-5.50. Secretary of State. "Secretary of State" means the Secretary of State of Illinois. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 602/5-50) Sec. 5-50. Minimum net worth or bond requirement. (a) In connection with the offer or sale of a business opportunity, no seller may make or use any of the representations set forth in Section 5-5.10(a)(4) and Section 5-5.10(a)(5) of this Law unless the seller …

(815 ILCS 602/5-55) Sec. 5-55. Administration of this Law. (a) This Law shall be administered by the Secretary of State. (b) It is unlawful for the Secretary of State or any of his or her officers or employees to use for personal benefit any information which is filed with or obt…

(815 ILCS 602/5-60) Sec. 5-60. Investigations and subpoenas. (a) The Secretary of State: (1) may make such public or private investigations within or outside of this State as the Secretary of State deems necessary to determine whether any person has violated or is about to violat…

(815 ILCS 602/5-65) Sec. 5-65. Remedies. Whenever it appears to the Secretary of State that any person has engaged in or is about to engage in any act or practice constituting a violation of any provision of this Law or any rule, regulation, or order under this Law, the Secretary…

(815 ILCS 602/5-70) Sec. 5-70. Rules, forms, orders and hearings. (a) The Secretary of State may amend, modify, vacate, and expunge orders and may make, amend and rescind rules and forms as are necessary to carry out the provisions of this Law including rules and forms governing …

(815 ILCS 602/5-75) Sec. 5-75. Administrative files and opinions. (a) A document is filed with the Secretary of State when all requirements of this Law with respect to filing have been complied with and the required fee has been paid. (b) The Secretary of State shall keep records…

(815 ILCS 602/5-80) Sec. 5-80. Scope of the Law; service of process. (a) The provisions of this Law concerning sales and offers to sell apply to persons who sell or offer to sell when: (1) An offer to sell is made in this State; (2) An offer to purchase is made and accepted in th…

(815 ILCS 602/5-85) Sec. 5-85. Statutory construction. This Law shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 602/5-90) Sec. 5-90. Severability of provisions. If any provision of this Law or its application to any person or circumstance is held invalid, the invalidity of that provision or application does not affect other provisions or applications of this Law that can be given…

(815 ILCS 602/5-95) Sec. 5-95. Fraudulent and prohibited practices. (a) It is unlawful for any person, in connection with the offer or sale of any business opportunity in this State or any offer or sale pursuant to the exemptions granted under subdivisions 5-10(a), (c), (d), or (…

(815 ILCS 602/99-1) Sec. 99-1. Effective date. This Act takes effect January 1, 1996. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 603/1) Sec. 1. Short title. This Act may be cited as the Contractor Prompt Payment Act. (Source: P.A. 95-567, eff. 8-31-07.)

(815 ILCS 603/10) Sec. 10. Construction contracts. All construction contracts shall be deemed to provide the following: (1) If a contractor has performed in accordance with the provisions of a construction contract and the payment application has been approved by the owner or the…

(815 ILCS 603/15) Sec. 15. Interest; suspension of performance. (a) If a payment due pursuant to the provisions of this Act is not made in a timely manner, the delinquent party shall be liable for the amount of that payment, plus interest at a rate equal to 10% per annum. (b) A c…

(815 ILCS 603/20) Sec. 20. Retainage. No construction contract may permit the withholding of retainage from any payment in excess of the amounts permitted in this Section. A construction contract may provide for the withholding of retainage of up to 10% of any payment made prior …

(815 ILCS 603/5) Sec. 5. Definitions. In this Act: (a) "Payment application" means, in accordance with the terms and definitions of the applicable contract, any invoice, bill or other request for periodic payment, final payment, payment of change order or request for release of r…

(815 ILCS 603/99) Sec. 99. Effective date. This Act shall take effect upon becoming law. (Source: P.A. 95-567, eff. 8-31-07.)

(815 ILCS 604/1) Sec. 1. Short title. This Act may be cited as the Consumer Contract Reciprocal Attorney's Fees Act. (Source: P.A. 103-344, eff. 1-1-24.)

(815 ILCS 604/10) Sec. 10. Attorney's fees. If a consumer contract allows for the recovery of attorney's fees in an action brought by a commercial party to enforce the consumer contract, the court may award reasonable attorney's fees to the defendant if the defendant prevails in …

(815 ILCS 604/15) Sec. 15. Applicability. (a) This Act applies to any action filed on or after the effective date of this Act: (1) with respect to any consumer contract entered into on or after the effective date of this Act; if the commercial party filing the action is a debt bu…

(815 ILCS 604/20) Sec. 20. Right to attorney's fees not limited. Nothing in this Act shall be construed to apply to or limit the rights of any party to attorney's fees under any other contract or as authorized in relation to consumer contracts under other provisions of State law.…

(815 ILCS 604/5) Sec. 5. Definitions. As used in this Act: "Consumer contract" means any contract in which the money, property, or service that is the subject of the transaction is primarily for personal, family, or household purposes. "Commercial party" means the person from who…

(815 ILCS 605/1) (from Ch. 121 1/2, par. 2101) Sec. 1. This Act shall be known and may be cited as the "Credit Services Organizations Act". (Source: P.A. 85-1384.)

(815 ILCS 605/10) (from Ch. 121 1/2, par. 2110) Sec. 10. If a credit services organization is required to obtain a surety bond pursuant to paragraph (1) of Section 5 of this Act, the following procedures shall be applicable: (a) If a bond is obtained, a copy of it shall be filed …

(815 ILCS 605/11) (from Ch. 121 1/2, par. 2111) Sec. 11. Any person injured by a violation of this Act or by the credit services organization's breach of a contract entered into pursuant to Section 7 of this Act, may bring any action for recovery of actual damages. Such person ma…

(815 ILCS 605/12) (from Ch. 121 1/2, par. 2112) Sec. 12. A. The Attorney General, the State's Attorney of any county, or a buyer may bring an action in a circuit court to enjoin a violation of this Act. In addition to any injunction, the Attorney General or any State's Attorney o…

(815 ILCS 605/13) (from Ch. 121 1/2, par. 2113) Sec. 13. Any person, as defined under this Act, violating any provision of this Act except breach of contract, upon conviction for the first offense, is guilty of a Class A misdemeanor. Upon conviction of a second or subsequent offe…

(815 ILCS 605/14) (from Ch. 121 1/2, par. 2114) Sec. 14. In an action under this Act the burden of proving an exemption under paragraph (d) of Section 3 is on the person claiming the exemption. (Source: P.A. 85-1384.)

(815 ILCS 605/15) (from Ch. 121 1/2, par. 2115) Sec. 15. The remedies provided by this Act are in addition to other remedies provided by law. A violation of this Act shall also constitute a violation of the Consumer Fraud and Deceptive Business Practices Act. (Source: P.A. 85-138…

(815 ILCS 605/16) (from Ch. 121 1/2, par. 2116) Sec. 16. This Act shall be liberally construed to effect the purposes thereof. (Source: P.A. 85-1384.)

(815 ILCS 605/2) (from Ch. 121 1/2, par. 2102) Sec. 2. The General Assembly finds and declares that: (a) The ability to obtain and use credit has become of great importance to consumers who have a vital interest in establishing and maintaining their credit worthiness and credit s…

(815 ILCS 605/3) (from Ch. 121 1/2, par. 2103) Sec. 3. As used in this Act: (a) "Buyer" means an individual who is solicited to purchase or who purchases the services of a credit services organization. (b) "Consumer reporting agency" has the meaning assigned by Section 603(f), Fa…

(815 ILCS 605/4) (from Ch. 121 1/2, par. 2104) Sec. 4. In construing this Act consideration shall be given to the interpretations of the Fair Credit Reporting Act (15 U.S.C. Section 1681 et seq.). (Source: P.A. 85-1384.)

(815 ILCS 605/5) (from Ch. 121 1/2, par. 2105) Sec. 5. No credit services organization, its salespersons, agents or representatives, or any independent contractor who sells or attempts to sell the services of a credit services organization shall: (1) Charge or receive any money o…

(815 ILCS 605/6) (from Ch. 121 1/2, par. 2106) Sec. 6. Before the execution of a contract or other form of agreement between a buyer and a credit services organization or before the receipt by any such organization of money or other valuable consideration, whichever occurs first,…

(815 ILCS 605/7) (from Ch. 121 1/2, par. 2107) Sec. 7. (a) Each contract between the buyer and a credit services organization for the purchase of the services of the credit services organization shall be in writing, dated, signed by the buyer, and shall include: (1) a conspicuous…

(815 ILCS 605/8) (from Ch. 121 1/2, par. 2108) Sec. 8. Any contract for services which does not comply with applicable provisions of this article shall be void and unenforceable as contrary to public policy. Any waiver by a buyer of the provisions of this Act shall be deemed void…