Chapter 815 — BUSINESS TRANSACTIONS

(815 ILCS 633/15) Sec. 15. Effective date of termination. Termination of the cellular phone contract shall not be effective until: (1) thirty days after the service member who has entered military service or the service member's spouse gives notice by certified mail, return recei…

(815 ILCS 633/20) Sec. 20. (Repealed). (Source: P.A. 94-802, eff. 5-26-06. Repealed by P.A. 95-392, eff. 8-23-07.)

(815 ILCS 633/22) Sec. 22. Violation. A violation of this Act constitutes a civil rights violation under the Illinois Human Rights Act. All proceeds from the collection of any civil penalty imposed under this Section shall be deposited into the Illinois Military Family Relief Fun…

(815 ILCS 633/5) Sec. 5. Definition. In this Act: "Military service" means any full-time training or duty, no matter how described under federal or State law, for which a service member is ordered to report by the President, Governor of a state, commonwealth, or territory of the …

(815 ILCS 633/900) Sec. 900. (Amendatory provisions; text omitted). (Source: P.A. 94-635, eff. 8-22-05; text omitted.)

(815 ILCS 633/902) Sec. 902. (Amendatory provisions; text omitted). (Source: P.A. 94-635, eff. 8-22-05; text omitted.)

(815 ILCS 633/905) Sec. 905. (Amendatory provisions; text omitted). (Source: P.A. 94-635, eff. 8-22-05; text omitted.)

(815 ILCS 633/910) Sec. 910. (Amendatory provisions; text omitted). (Source: P.A. 94-635, eff. 8-22-05; text omitted.)

(815 ILCS 633/915) Sec. 915. (Amendatory provisions; text omitted). (Source: P.A. 94-635, eff. 8-22-05; text omitted.)

(815 ILCS 633/920) Sec. 920. (Amendatory provisions; text omitted). (Source: P.A. 94-635, eff. 8-22-05; text omitted.)

(815 ILCS 633/925) Sec. 925. (Amendatory provisions; text omitted). (Source: P.A. 94-635, eff. 8-22-05; text omitted.)

(815 ILCS 633/999) Sec. 999. Effective date. This Act takes effect upon becoming law. (Source: P.A. 94-635, eff. 8-22-05.)

(815 ILCS 635/1) (from Ch. 29, par. 901) Sec. 1. Short Title. This Article shall be known and may be cited as the "Illinois Membership Campground Act". (Source: P.A. 84-1235.)

(815 ILCS 635/2) (from Ch. 29, par. 902) Sec. 2. Applicability of Other Laws. Membership Camping Contracts registered under this Article are exempt from the provisions of Public Act 84-821. Membership Camping Contracts covered by this Article shall be subject to the Retail Instal…

(815 ILCS 635/3) (from Ch. 29, par. 903) Sec. 3. As used in this Article unless the context otherwise requires: (1) "Campground" means real property owned or operated by a Membership Camping Operator which is available for camping by purchasers of Membership Camping Contracts. (2…

(815 ILCS 635/4) (from Ch. 29, par. 904) Sec. 4. Advertising Standards and Disclosures. (1) A Membership Camping Operator shall provide to a purchaser at least the following written disclosures before the purchaser signs a Membership Camping Contract, or gives any money or thing …

(815 ILCS 635/5) (from Ch. 29, par. 905) Sec. 5. Cancellation Rights. (1) Right of Rescission: A purchaser or a Membership Camping Operator has an unconditional right to rescind any Membership Camping Contract, or revoke any offer, at any time prior to or within 3 business days a…

(815 ILCS 636/1) Sec. 1. Short title. This Act may be cited as the Motor Vehicle Leasing Act. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10) Sec. 10. Definitions and rules of construction. In this Act, unless the context or subject matter otherwise requires, the following words and phrases have the meanings set forth in the following Sections. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.10) Sec. 10.10. Average periodic depreciation. The difference between the adjusted capitalized cost and the residual value divided by the number of payment periods in the consumer lease, or, for a single payment lease, divided by the number of months in the term …

(815 ILCS 636/10.100) Sec. 10.100. Realized value. The greater of (a) the price received by the lessor for disposition of the vehicle, after subtracting all actual and reasonable expenses of sale or (b) insurance proceeds in the event of the total loss or destruction of the vehic…

(815 ILCS 636/10.105) Sec. 10.105. Renegotiation. The satisfaction and replacement of an existing consumer lease by a new consumer lease undertaken by the same lessee. The term renegotiation does not include (a) a deferral or extension of one or more periodic lease payments or po…

(815 ILCS 636/10.110) Sec. 10.110. Residual value. The estimated value of the vehicle at the end of the scheduled lease term, used by the lessor in determining the base lease payment, as established by the lessor at the time the lessor and lessee enter into a consumer lease. (Sou…

(815 ILCS 636/10.115) Sec. 10.115. Single payment lease. A consumer lease for which a single payment is required to be paid at the beginning of the lease for the scheduled term of the lease. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.120) Sec. 10.120. Vehicle or motor vehicle. A motor vehicle as defined in Section 1-146 of the Illinois Vehicle Code. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.125) Sec. 10.125. Words in the singular include the plural and vice versa, unless otherwise specified. The term "periodic" means "monthly", "weekly", "quarterly", or any other period as specified in the consumer lease. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.15) Sec. 10.15. Average periodic lease charge. The lease charge for the scheduled term of the consumer lease divided by the number of payment periods or, for a single payment lease, divided by the number of months in the term of the lease. (Source: P.A. 89-625, e…

(815 ILCS 636/10.20) Sec. 10.20. Base lease payment. That portion of the periodic lease payment which shall be the sum of (a) the average periodic lease charge and (b) the average periodic depreciation. For a single payment lease, the base lease payment is the sum of (a) the aver…

(815 ILCS 636/10.25) Sec. 10.25. Capitalized cost. The amount which, when reduced by the amount of the capitalized cost reduction, equals the adjusted capitalized cost. The capitalized cost includes all items which are capitalized in the lease and after the application of the cap…

(815 ILCS 636/10.30) Sec. 10.30. Capitalized cost reduction. Payments made by cash, check, rebates, or similar means that are in the nature of down payments made by the lessee and any net trade-in allowance granted by the lessor at the inception of the consumer lease for the purp…

(815 ILCS 636/10.35) Sec. 10.35. Conspicuous. Distinguished from other terms by type size or in some other manner. A term in at least 10-point bold type shall be deemed to be conspicuous for the purposes of this Act. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.40) Sec. 10.40. Constant yield method. (a) In the case of a periodic payment lease, the method of determining the lease charge portion of each base lease payment pursuant to which the lease charge for each computational period is earned in advance of that period …

(815 ILCS 636/10.45) Sec. 10.45. Consumer lease. A contract, entered into in this State, which transfers the right of possession for use of a vehicle by a natural person primarily for personal, family, or household purposes, for a period of more than one year, for a total contrac…

(815 ILCS 636/10.5) Sec. 10.5. Adjusted capitalized cost. The amount which serves as the basis for determining the base lease payment, computed by subtracting from the capitalized cost any capitalized cost reduction. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.50) Sec. 10.50. Consumer Leasing Act. That Act of Congress codified as 15 U.S.C. 1667 et seq. and regulations promulgated pursuant thereto, as that Act and regulations may be amended from time to time. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.55) Sec. 10.55. Gap amount. The difference between the amount owed (or which would be owed in the absence of gap protection) by the lessee under the consumer lease in the event of a total loss of the vehicle prior to the end of the lease term occasioned by its th…

(815 ILCS 636/10.60) Sec. 10.60. Gap protection. A contractual undertaking by the holder or lessor or by a third party to waive or provide that a third person shall pay the gap amount. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.65) Sec. 10.65. Group credit insurance. Group credit life insurance, group credit accident insurance, group credit accident and health insurance, group disability insurance, or group credit unemployment insurance. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.70) Sec. 10.70. Holder. The lessor or owner of a vehicle under or subject to a consumer lease and if ownership of the consumer lease is acquired by an assignee, the assignee for the period of the assignee's ownership. The term holder does not include a pledgee of…

(815 ILCS 636/10.75) Sec. 10.75. Lease charge. The charge determined by the lessor to be paid by the lessee for the privilege of making the lease payments as scheduled under a consumer lease. The term lease charge does not include any amount included in the capitalized cost or an…

(815 ILCS 636/10.80) Sec. 10.80. Lessee. A natural person who leases a vehicle under a consumer lease. For purposes of Section 15 of this Act, the term also includes a natural person who makes a payment to a lessor as an advance lease payment, deposit, or down payment or who leav…

(815 ILCS 636/10.85) Sec. 10.85. Lessor. A person regularly engaged in the business of leasing or selling vehicles who leases a vehicle under a consumer lease. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.90) Sec. 10.90. Person. An individual, partnership, corporation, association or other group, however organized. (Source: P.A. 89-625, eff. 1-1-97.)

(815 ILCS 636/10.95) Sec. 10.95. Precomputed lease transaction. A consumer lease transaction in which the total of the base lease payments for the term of the lease is established at the inception of the lease, whether or not it is paid at that time, as a sum comprising the total…

(815 ILCS 636/15) Sec. 15. Payment or trade-in pending execution of consumer lease: refund or return upon non-execution. (a) If a lessee has made a payment to a lessor pending the execution of a consumer lease, has surrendered possession of a trade-in vehicle, or both, the lessee…

(815 ILCS 636/20) Sec. 20. Total loss notice and waiver of the gap amount. (a) If the consumer lease provides that the lessee shall be responsible for the gap amount, the consumer lease shall disclose that fact and disclose the obligations for which the lessee would remain liable…

(815 ILCS 636/25) Sec. 25. Requirements for a consumer lease. (a) A consumer lease shall be in writing and signed by the lessor and the lessee. (b) The printed portion of the consumer lease, other than directions for completion of the consumer lease, shall be printed in a size eq…

(815 ILCS 636/30) Sec. 30. Security interest prohibited. (a) No consumer lease or other document executed by the lessee in connection therewith shall provide for the creation of a security interest in any personal or real property of the lessee to secure the payment of the obliga…

(815 ILCS 636/35) Sec. 35. Notice of lessee's default and right to cure. After a lessee has been in default for 10 days solely by reason of the lessee's failure to make a timely lease payment and any applicable late charges, the holder may declare the lessee to be in default and …

(815 ILCS 636/37) Sec. 37. Military personnel in military service; termination of lease. (a) In this Act: "Military service" means any full-time training or duty, no matter how described under federal or State law, for which a service member is ordered to report by the President,…