Chapter 815 — BUSINESS TRANSACTIONS

(815 ILCS 150/2) (from Ch. 17, par. 6202) Sec. 2. As used in this Act, the following words have the meaning ascribed to them in this Section: "Financial institution" means any bank, insurance company, credit union, savings and loan association, investment trust or other depositor…

(815 ILCS 150/3) (from Ch. 17, par. 6203) Sec. 3. No financial institution or other person or corporation doing business in this State shall issue any person a credit card, regardless of whether such credit card is to be used for personal, family, household, agricultural, busines…

(815 ILCS 150/4) (from Ch. 17, par. 6204) Sec. 4. Any person, corporation or financial institution who violates the provisions of this Act shall be guilty of a business offense, and may be fined an amount not to exceed $500. (Source: P.A. 80-531.)

(815 ILCS 150/5) (from Ch. 17, par. 6205) Sec. 5. Nothing in this Act shall in any way alter or diminish the liabilities of credit card issuers as heretofore existent under the laws of the United States or the State of Illinois. (Source: P.A. 80-531.)

(815 ILCS 151/150-1) Sec. 150-1. Short title. This Article may be cited as the Interchange Fee Prohibition Act. References in this Article to "this Act" mean this Article. (Source: P.A. 103-592, eff. 7-1-25; 104-417, eff. 8-15-25.)

(815 ILCS 151/150-10) (This Section may contain text from a Public Act with a delayed effective date) Sec. 150-10. Interchange fees on taxes prohibited. (a) An issuer, a payment card network, an acquirer bank, or a processor may not receive or charge a merchant any interchange fe…

(815 ILCS 151/150-15) (This Section may contain text from a Public Act with a delayed effective date) Sec. 150-15. Penalties. (a) An issuer, a payment card network, an acquirer bank, a processor, or other designated entity that has received the tax or gratuity amount data and vio…

(815 ILCS 151/150-5) (This Section may contain text from a Public Act with a delayed effective date) Sec. 150-5. Definitions. As used in this Act: "Acquirer bank" means a member of a payment card network that contracts with a merchant for the settlement of electronic payment tran…

(815 ILCS 151/150-95) (This Section may contain text from a Public Act with a delayed effective date) Sec. 150-95. Severability. The provisions of this Act are severable under Section 1.31 of the Statute on Statutes. (Source: P.A. 103-592, eff. 7-1-26 (See Section 5 of P.A. 104-4…

(815 ILCS 151/999-95) Sec. 999-95. No acceleration or delay. Where this Act makes changes in a statute that is represented in this Act by text that is not yet or no longer in effect (for example, a Section represented by multiple versions), the use of that text does not accelerat…

(815 ILCS 151/999-97) Sec. 999-97. Severability. The provisions of this Act are severable under Section 1.31 of the Statute on Statutes. (Source: P.A. 103-592, eff. 6-7-24.)

(815 ILCS 151/999-99) Sec. 999-99. Effective date. This Act takes effect upon becoming law, except that Article 65 takes effect July 1, 2024, Articles 25, 75, 80, 93, 125, 135, and 140 take effect January 1, 2025, and Article 150 takes effect July 1, 2026. (Source: P.A. 103-592, …

(815 ILCS 155/0.01) (from Ch. 17, par. 6300) Sec. 0.01. Short title. This Act may be cited as the Student Loans to Minors Act. (Source: P.A. 86-1324.)

(815 ILCS 155/1) (from Ch. 17, par. 6301) Sec. 1. Any student who has been accepted for admission to an institution in the State of Illinois approved by the State Superintendent of Public Instruction as an institution of higher education on either the undergraduate or graduate le…

(815 ILCS 160/0.01) (from Ch. 17, par. 7100) Sec. 0.01. Short title. This Act may be cited as the Credit Agreements Act. (Source: P.A. 86-1324.)

(815 ILCS 160/1) (from Ch. 17, par. 7101) Sec. 1. Definitions. For the purpose of this Act, the following terms have the meanings given them: (1) "Credit agreement" means an agreement or commitment by a creditor to lend money or extend credit or delay or forbear repayment of mone…

(815 ILCS 160/2) (from Ch. 17, par. 7102) Sec. 2. Credit agreements to be in writing. A debtor may not maintain an action on or in any way related to a credit agreement unless the credit agreement is in writing, expresses an agreement or commitment to lend money or extend credit …

(815 ILCS 160/3) (from Ch. 17, par. 7103) Sec. 3. Actions not considered agreements. The following actions do not give rise to a claim, counter-claim, or defense by a debtor that a new credit agreement is created, unless the agreement satisfies the requirements of Section 2: (1) …

(815 ILCS 160/3.1) Sec. 3.1. Liability; privity of contract. No creditor shall be liable to a person not in privity of contract with the creditor for civil damages arising out of a credit agreement, or any conditions precedent thereto, except for acts or conduct by the creditor t…

(815 ILCS 165/1) (from Ch. 29, par. 951) Sec. 1. This Act shall be known and may be cited as the "Consumer Deposit Security Act of 1987". (Source: P.A. 85-733.)

(815 ILCS 165/2) (from Ch. 29, par. 952) Sec. 2. As used in this Act, the following words have the meaning ascribed to them in this Section. "Consumer Goods" means any goods or items used primarily for personal, family or household purposes. "Consumer Lease" means a contract in t…

(815 ILCS 165/3) (from Ch. 29, par. 953) Sec. 3. Surety Bonds; Escrow Accounts. Any lessor who requires a deposit from a lessee in connection with a consumer lease shall either: (a) have on file with the Illinois Attorney General a surety bond, executed by the lessor as principal…

(815 ILCS 165/4) (from Ch. 29, par. 954) Sec. 4. Statement of Account and Release of Deposit. Within 30 days, if the lessee has no liability based upon the value of the consumer goods, or 60 days, if the lessee has that liability, after termination of a consumer lease as to which…

(815 ILCS 165/5) (from Ch. 29, par. 955) Sec. 5. Lessor Noncompliance. In any successful action instituted by a lessee to recover all or any portion of a deposit withheld by a lessor who fails to comply with the requirements of Section 4, the lessee shall be entitled to recover 1…

(815 ILCS 170/0.01) (from Ch. 135, par. 0.01) Sec. 0.01. Short title. This Act may be cited as the Tender Act. (Source: P.A. 86-1324.)

(815 ILCS 170/1) (from Ch. 135, par. 1) Sec. 1. That when any note, bond, bill or other instrument in writing is for the payment or delivery of personal property other than money, and no particular place is specified therein for such payment or delivery, the maker may tender such…

(815 ILCS 170/2) (from Ch. 135, par. 2) Sec. 2. A legal tender of any such personal property shall discharge the maker of any such instrument from all liability thereon; and the property thus tendered shall be vested in the legal holder of the instrument, and he may maintain an a…

(815 ILCS 170/3) (from Ch. 135, par. 3) Sec. 3. In all cases when a tender shall be made and full payment be offered, by discount or otherwise, as the party by contract or agreement ought to do, and the party to whom such tender shall be made doth refuse the same, and yet afterwa…

(815 ILCS 170/4) (from Ch. 135, par. 4) Sec. 4. A tender may also be made after an action is brought upon any contract, of the whole sum due thereon, with the legal costs of suit incurred up to the time of tender. (Source: R.S. 1874, p. 1054.)

(815 ILCS 170/5) (from Ch. 135, par. 5) Sec. 5. The tender last mentioned may be made either to the plaintiff or his attorney in the suit, and the defendant may avail himself of it in defense, in like manner as if it had been made before the commencement of the action, bringing i…

(815 ILCS 175/15-1) Sec. 15-1. Short title. This Article may be cited as the Illinois Loan Brokers Act of 1995, and references in this Article to "this Act" mean this Article. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 175/15-10) Sec. 15-10. Registration required. It shall be unlawful for any person to engage in the business of loan brokering unless registered under this Act. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 175/15-100) Sec. 15-100. Immunity for official acts. In no case shall the Secretary of State or any of his or her employees or agents, in the administration of this Act, incur any official or personal liability while acting in accordance with their official duties or au…

(815 ILCS 175/15-15) Sec. 15-15. Application for registration; contents; bond; issuance; effective date; consent to Secretary of State as process agent. (a) In order to be registered under this Act a loan broker shall file an application for registration with the Secretary of Sta…

(815 ILCS 175/15-20) Sec. 15-20. Renewal of registration. (a) A loan broker may not continue engaging in the business of loan brokering unless the broker's registration is renewed annually. A loan broker shall renew the registration by filing with the Secretary of State, at least…

(815 ILCS 175/15-25) Sec. 15-25. Fees and funds; accounting and deposit in Securities Audit and Enforcement Fund. (a) The Secretary of State shall by rule or regulation impose and shall collect fees necessary for the administration of this Act including, but not limited to, fees …

(815 ILCS 175/15-30) Sec. 15-30. Disclosure document to be provided by loan broker. (a) At the time any person signs a contract for the services of a loan broker, or at the time the loan broker receives any consideration upon the contract, whichever occurs first, the loan broker …

(815 ILCS 175/15-30.5) Sec. 15-30.5. Exemption from disclosure requirement. The disclosure requirement of Section 15-30 shall not apply where the borrower to be represented by the loan broker: (a) Is a natural person who has, or is reasonably believed by the loan broker relying u…

(815 ILCS 175/15-35) Sec. 15-35. Contracts required to be in writing; retention of copy by borrowing party. To be enforceable, every contract for the services of a loan broker shall be in writing and signed by all contracting parties. The borrowing party and loan broker shall ret…

(815 ILCS 175/15-40) Sec. 15-40. Denial, suspension or revocation of registration; orders and hearing. (a) The Secretary of State may deny, suspend or revoke the registration of a loan broker if the loan broker: (1) Fails to maintain the bond required under subsection (b) of Sect…

(815 ILCS 175/15-45) Sec. 15-45. Powers of Secretary of State; privilege against self-incrimination; admissibility into evidence. (a) The Secretary of State may do the following: (1) Adopt rules and regulations to implement this Act. (2) Make investigations and examinations: (A) …

(815 ILCS 175/15-5) Sec. 15-5. Definitions. As used in this Act, the terms defined in the Sections following this Section and preceding Section 15-6 have the meanings ascribed therein. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 175/15-5.03) Sec. 15-5.03. Borrower. "Borrower" means any person who has signed an agreement with a loan broker that provides for the services described in Section 15-5.15, for compensation. (Source: P.A. 90-70, eff. 7-8-97.)

(815 ILCS 175/15-5.05) Sec. 15-5.05. Creditor. "Creditor" means any person to whom a loan is initially payable on the face of the note or contract evidencing the loan. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 175/15-5.10) Sec. 15-5.10. Loan. "Loan" means any agreement to advance money or property in return for the promise to make payments for the money or property. (Source: P.A. 89-209, eff. 1-1-96.)

(815 ILCS 175/15-5.15) Sec. 15-5.15. Loan broker. (a) "Loan Broker" means any person who, in return for a fee, commission, or other compensation from any person, promises to procure a loan for any person or assist any person in procuring a loan from any third party, or who promis…

(815 ILCS 175/15-5.20) Sec. 15-5.20. Person. "Person" means an individual, a corporation, trust, limited liability company, partnership, a joint stock company, limited liability partnership, incorporated or unincorporated association, or any other entity. (Source: P.A. 92-308, ef…

(815 ILCS 175/15-50) Sec. 15-50. Evidentiary matters. (a) Certified copies of documents or records admissible in actions or proceedings under this Act. Copies of any statement or document filed with the Secretary of State, and copies of any records of the Secretary of State, cert…

(815 ILCS 175/15-55) Sec. 15-55. Violations; administrative fines; enforcement. (a) If the Secretary of State determines, after notice and opportunity for a hearing, that a person has violated this Act, the Secretary of State may in addition to all other remedies, impose an admin…

(815 ILCS 175/15-60) Sec. 15-60. Violations; liability of loan broker to damaged parties; rights of prospective borrower. A person who violates this Act, in connection with a contract for the services of a loan broker, is liable to any person damaged by the violation, for the amo…