Chapter 815 — BUSINESS TRANSACTIONS

(815 ILCS 137/175) Sec. 175. Severability. The provisions of this Act are severable under Section 1.31 of the Statute on Statutes. (Source: P.A. 93-561, eff. 1-1-04.)

(815 ILCS 137/20) Sec. 20. Verification of ability to repay loan. The lender shall verify the borrower's ability to repay the loan in the case of a high risk home loan. The verification shall require, at a minimum, the following: (1) That the borrower prepare and submit to the le…

(815 ILCS 137/25) Sec. 25. Good faith dealings; fraudulent or deceptive practices. A lender must act in good faith in all relations with a borrower, including but not limited to, transferring, dealing in, offering, or making a high risk home loan. No lender shall employ fraudulen…

(815 ILCS 137/30) Sec. 30. No prepayment penalty. A high risk home loan may not contain terms under which a consumer must pay a prepayment penalty for paying all or part of the principal before the date on which the principal is due. For purposes of this Section, any method of co…

(815 ILCS 137/35) Sec. 35. Bona fide discount points. For the purposes of determining whether the amount of points and fees meets the definition of "high risk home loan" under this Act, either the amounts described in paragraph (1) or (2) of this Section, but not both, shall be e…

(815 ILCS 137/35.5) Sec. 35.5. No balloon payments. No high risk home loan may contain a scheduled payment that is more than twice as large as the average of earlier scheduled payments. This Section does not apply when the payment schedule is adjusted to the seasonal or irregular…

(815 ILCS 137/40) Sec. 40. Pre-paid insurance products and warranties. No lender shall transfer, deal in, offer, or make a high risk home loan that finances a single premium credit life, credit disability, credit unemployment, or any other life or health insurance, directly or in…

(815 ILCS 137/45) Sec. 45. Refinancing prohibited in certain cases. No lender shall refinance any high risk home loan where such refinancing charges additional points and fees within a 12-month period after the original loan agreement was signed, unless the refinancing results in…

(815 ILCS 137/5) Sec. 5. Purpose and construction. The purpose of this Act is to protect borrowers who enter into high risk home loans from abuse that occurs in the credit marketplace when creditors and brokers are not sufficiently regulated in Illinois. This Act is to be constru…

(815 ILCS 137/55) Sec. 55. Financing of points and fees. No lender shall transfer, deal in, offer, or make a high risk home loan that finances, directly or indirectly, any points and fees. No lender shall transfer, deal in, offer, or make a high risk home loan that finances any p…

(815 ILCS 137/60) Sec. 60. Payments to contractors. No lender shall make a payment of any proceeds of a high risk home loan directly to a contractor under a home improvement contract other than: (1) by instrument payable to the borrower or payable jointly to the borrower and cont…

(815 ILCS 137/65) Sec. 65. Negative amortization. No lender shall transfer, deal in, offer, or make a high risk home loan, other than a loan secured only by a reverse mortgage, with terms under which the outstanding balance will increase at any time over the course of the loan be…

(815 ILCS 137/70) Sec. 70. Negative equity. No lender shall transfer, deal in, offer, or make a high risk home loan where the loan amount exceeds the value of the property securing the loan. (Source: P.A. 93-561, eff. 1-1-04.)

(815 ILCS 137/80) Sec. 80. Late payment fee. A lender shall not transfer, deal in, offer, or make a high risk home loan that provides for a late payment fee, except under the following conditions: (1) the late payment fee shall not be in excess of 4% of the amount of the payment …

(815 ILCS 137/80.5) Sec. 80.5. Coordination with subsequent late fees. If a payment is otherwise a full payment for the applicable period, is paid on its due date or within an applicable grace period, and the only delinquency or insufficiency of payment is attributable to any lat…

(815 ILCS 137/80.6) Sec. 80.6. Failure to make installment payment. If, in the case of a loan agreement the terms of which provide that any payment shall first be applied to any past principal balance, the consumer fails to make an installment payment and the consumer subsequentl…

(815 ILCS 137/800) Sec. 800. (Amendatory provisions; text omitted). (Source: P.A. 93-561, eff. 1-1-04; text omitted.)

(815 ILCS 137/805) Sec. 805. (Amendatory provisions; text omitted). (Source: P.A. 93-561, eff. 1-1-04; text omitted.)

(815 ILCS 137/810) Sec. 810. (Amendatory provisions; text omitted). (Source: P.A. 93-561, eff. 1-1-04; text omitted.)

(815 ILCS 137/815) Sec. 815. (Amendatory provisions; text omitted). (Source: P.A. 93-561, eff. 1-1-04; text omitted.)

(815 ILCS 137/820) Sec. 820. (Amendatory provisions; text omitted). (Source: P.A. 93-561, eff. 1-1-04; text omitted.)

(815 ILCS 137/825) Sec. 825. (Amendatory provisions; text omitted). (Source: P.A. 93-561, eff. 1-1-04; text omitted.)

(815 ILCS 137/830) Sec. 830. (Amendatory provisions; text omitted). (Source: P.A. 93-561, eff. 1-1-04; text omitted.)

(815 ILCS 137/835) Sec. 835. (Amendatory provisions; text omitted). (Source: P.A. 93-561, eff. 1-1-04; text omitted.)

(815 ILCS 137/840) Sec. 840. (Amendatory provisions; text omitted). (Source: P.A. 93-561, eff. 1-1-04; text omitted.)

(815 ILCS 137/845) Sec. 845. (Amendatory provisions; text omitted). (Source: P.A. 93-561, eff. 1-1-04; text omitted.)

(815 ILCS 137/85) Sec. 85. Payment compounding. No lender shall transfer, deal in, offer, or make a high risk home loan that includes terms under which more than 2 periodic payments required under the loan are consolidated and paid in advance from the loan proceeds provided to th…

(815 ILCS 137/90) Sec. 90. Call provision. No lender shall transfer, deal in, offer, or make a high risk home loan that contains a provision that permits the lender, in its sole discretion, to accelerate the indebtedness, provided that this provision does not prohibit acceleratio…

(815 ILCS 137/90.5) Sec. 90.5. Modification and deferral fees prohibited. A lender, successor in interest, assignee, or any agent of any of the foregoing may not charge a consumer any fee to modify, renew, extend, or amend a high risk home loan or to defer any payment due under t…

(815 ILCS 137/900) Sec. 900. Severability. The provisions of this Act are severable under Section 1.31 of the Statute on Statutes. (Source: P.A. 93-561, eff. 1-1-04.)

(815 ILCS 137/95) Sec. 95. Disclosure prior to making a high risk home loan. A lender shall not transfer, deal in, offer, or make a high risk home loan unless the lender has given the following notice or a substantially similar notice in writing, to the borrower, acknowledged in …

(815 ILCS 140/0.01) (from Ch. 17, par. 6000) Sec. 0.01. Short title. This Act may be cited as the Credit Card Issuance Act. (Source: P.A. 86-1324.)

(815 ILCS 140/1) (from Ch. 17, par. 6001) Sec. 1. As used in this Act: (a) "Credit card" has the meaning set forth in Section 17-0.5 of the Criminal Code of 2012, but does not include "debit card" as defined in that Section, which can also be used to obtain money, goods, services…

(815 ILCS 140/1a) (from Ch. 17, par. 6002) Sec. 1a. No person may be denied a credit card, upon proper application therefor, solely on account of unlawful discrimination, as defined and prohibited in Section 4-103 of the Illinois Human Rights Act. No question requesting any infor…

(815 ILCS 140/1b) (from Ch. 17, par. 6003) Sec. 1b. All credit card applications shall contain the following words verbatim: a. No applicant may be denied a credit card on account of race, color, religion, national origin, ancestry, age (between 40 and 70), sex, marital status, p…

(815 ILCS 140/1c) (from Ch. 17, par. 6004) Sec. 1c. Notwithstanding the provisions of Sections 1a and 1b, credit card applications which conform to the requirements of the Federal Equal Credit Opportunity Act, amendments thereto, and any regulations issued or which may be issued …

(815 ILCS 140/2) (from Ch. 17, par. 6005) Sec. 2. Except to the extent provided in a merchant credit card agreement, a seller shall not be liable to the issuer of a credit card, or to any other party to a merchant credit card agreement or that party's agent or representative, for…

(815 ILCS 140/3) (from Ch. 17, par. 6006) Sec. 3. In every case where an applicant for a credit card is rejected by a credit card issuer, the applicant, upon request, shall be informed of the reasons for such rejection. Failure to comply with this section is a civil rights violat…

(815 ILCS 140/4) (from Ch. 17, par. 6007) Sec. 4. A credit card issuer shall, when requested, consider the financial status of a married couple when making a determination as to whether to issue a credit card. A credit card issuer shall, upon request by an applicant, consider suc…

(815 ILCS 140/5) (from Ch. 17, par. 6008) Sec. 5. No credit card issuer shall require a person to reapply for credit solely because of a change in marital status. Nothing in this section shall prevent a credit card issuer from requiring notification of any name change. (Source: P…

(815 ILCS 140/6) (from Ch. 17, par. 6009) Sec. 6. Disclosure to applicants. (a) Except as provided in Section 25 of the Retail Installment Sales Act, relating to sellers or holders under a retail charge agreement and in subsection (c), a credit card issuer shall disclose, either …

(815 ILCS 140/7) (from Ch. 17, par. 6010) Sec. 7. (Repealed). (Source: Repealed by P.A. 88-546.)

(815 ILCS 140/7.1) (from Ch. 17, par. 6010.1) Sec. 7.1. Certain credit card transaction form required. (a) Any person, firm, partnership, association or corporation which issues forms used for credit card transactions between the credit card holder and seller, shall only issue su…

(815 ILCS 140/7.2) Sec. 7.2. No credit card issuer shall issue, provide, assign or deliver in any way a credit card account to and in the name of any person under the age of 21 unless the person has submitted a written application and the credit card issuer has: (1) financial inf…

(815 ILCS 140/8) (from Ch. 17, par. 6011) Sec. 8. The Attorney General of this State may bring an action in the name of the State against any person to restrain and prevent any violation of this Act and to enforce and collect any penalty provided hereunder. In the enforcement of …

(815 ILCS 140/9) (from Ch. 17, par. 6012) Sec. 9. Penalties. (a) Any credit card issuer who knowingly violates this Act is guilty of a Class A misdemeanor. (b) No credit card issuer who violates this Act, except as a result of an accident or bona fide error of computation, may re…

(815 ILCS 145/0.01) (from Ch. 17, par. 6100) Sec. 0.01. Short title. This Act may be cited as the Credit Card Liability Act. (Source: P.A. 86-1324.)

(815 ILCS 145/1) (from Ch. 17, par. 6101) Sec. 1. (a) No person in whose name a credit card is issued without his having requested or applied for the card or for the extension of the credit or establishment of a charge account which that card evidences is liable to the issuer of …

(815 ILCS 145/2) (from Ch. 17, par. 6102) Sec. 2. (a) Notwithstanding that a person in whose name a credit card has been issued has requested or applied for such card or has indicated his acceptance of an unsolicited credit card, as provided in Section 1 hereof, such person shall…

(815 ILCS 150/1) (from Ch. 17, par. 6201) Sec. 1. This Act may be cited as the Unsolicited Credit Card Act of 1977. (Source: P.A. 86-1475.)