Chapter 815, BUSINESS TRANSACTIONS

(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 350/10.5) Sec. 10.5. Injunction. The Attorney General may bring an action in a circuit court to enjoin a sale subject to this Act when the sale is being conducted without a license issued under this Act. (Source: P.A. 88-29.)

(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 137/100) Sec. 100. Counseling prior to perfecting foreclosure proceedings. (a) If a high risk home loan becomes delinquent by more than 30 days, the servicer shall send a notice advising the borrower that he or she may wish to seek approved credit counseling. (b) The no…

(815 ILCS 121/100) Sec. 100. Secretary of Financial and Professional Regulation; functions and powers. The functions and powers of the Secretary shall include the following: (1) to issue or refuse to issue any license as provided by this Act; (2) to revoke or suspend for cause an…

(815 ILCS 620/101) (from Ch. 29, par. 101) Sec. 101. Short title. This Act shall be known and may be cited as the "Illinois Fair Invention Development Standards Act". (Source: P.A. 81-542.)

(815 ILCS 620/102) (from Ch. 29, par. 102) Sec. 102. Legislative intent. The purpose of this Act is to safeguard the public against fraud, deceit, imposition of financial hardship, and to foster and encourage competition, fair dealing, and prosperity in the field of idea and inve…

(815 ILCS 620/103) (from Ch. 29, par. 103) Sec. 103. Definitions. As used in this Act, unless the context otherwise requires: (a) "Invention Development Services" shall include at least one of the following: (1) evaluation of the market potential of an invention; and (2) represen…

(815 ILCS 615/105) (from Ch. 29, par. 1051-105) Sec. 105. This Act takes effect upon becoming law. (Source: P.A. 87-450.)

(815 ILCS 520/105) (from Ch. 134, par. 195) Sec. 105. This Act takes effect on January 1, 1992. (Source: P.A. 87-452.)

(815 ILCS 137/105) Sec. 105. Right to cure. (a) Before an action is filed to foreclose or collect money due pursuant to a high risk home loan or before other action is taken to seize or transfer ownership of property subject to a high risk home loan, the lender or lender's assign…

(815 ILCS 121/105) Sec. 105. Other businesses. (a) Upon application by the licensee and payment of a $500 fee, the Secretary may approve the conduct of other businesses not specifically permitted by this Act in the licensee's place of business, unless the Secretary finds that suc…

(815 ILCS 505/10a) (from Ch. 121 1/2, par. 270a) Sec. 10a. Action for actual damages. (a) Any person who suffers actual damage as a result of a violation of this Act committed by any other person may bring an action against such person. The court, in its discretion may award actu…

(815 ILCS 505/10b) (from Ch. 121 1/2, par. 270b) Sec. 10b. Nothing in this Act shall apply to any of the following: (1) Actions or transactions specifically authorized by laws administered by any regulatory body or officer acting under statutory authority of this State or the Uni…

(815 ILCS 505/10c) Sec. 10c. Waiver or modification. Any waiver or modification of the rights, provisions, or remedies of this Act shall be void and unenforceable. (Source: P.A. 93-400, eff. 1-1-04.)

(815 ILCS 505/10d) Sec. 10d. Public Utilities Act; Illinois Commerce Commission. (a) The General Assembly finds that consumer protection is vital to the health, safety, and welfare of Illinois consumers. (b) Notwithstanding any other provision of law, the Illinois Commerce Commis…

(815 ILCS 5/11) (from Ch. 121 1/2, par. 137.11) Sec. 11. Duties and powers of the Secretary of State. A. (1) The administration of this Act is vested in the Secretary of State, who may from time to time make, amend and rescind such rules and regulations as may be necessary to car…

(815 ILCS 375/11) (from Ch. 121 1/2, par. 571) Sec. 11. Delinquency charges. A retail installment contract may provide for a delinquency and collection charge, on each installment in default for a period of not less than 10 days, in an amount not exceeding 5% of the installment o…

(815 ILCS 610/11) (from Ch. 29, par. 50-11) Sec. 11. Enforcement by Attorney General. All remedies, penalties and authority granted to the Attorney General by the "Consumer Fraud and Deceptive Business Practices Act", approved July 24, 1961, as now or hereafter amended, shall be …

(815 ILCS 405/11) (from Ch. 121 1/2, par. 511) Sec. 11. If any insurance for which an amount is included in the contract or charge agreement is cancelled, any unearned insurance refund exceeding one dollar received or receivable by the holder or, if the amount included for insura…

(815 ILCS 333/11) Sec. 11. Notarization and acknowledgment. If a law requires a signature or record to be notarized, acknowledged, verified, or made under oath, the requirement is satisfied if the electronic signature of the person authorized to perform those acts, together with …

(815 ILCS 645/11) (from Ch. 29, par. 60.1) Sec. 11. Enforcement by customer. Any customer injured by a violation of this Act may bring an action for the recovery of damages. Judgment may be entered for 3 times the amount at which the actual damages are assessed, plus costs and re…

(815 ILCS 630/11) (from Ch. 121 1/2, par. 2011) Sec. 11. Nothing in this Act shall affect the validity of any license previously issued to any person as a private employment agency pursuant to "An Act to revise the law in relation to private employment agencies and to repeal an A…

(815 ILCS 390/11) (from Ch. 21, par. 211) Sec. 11. Any person affected by a final administrative decision of the Comptroller may have such decision reviewed judicially by the circuit court of the county where such person resides, or in the case of a corporation, where the registe…

(815 ILCS 105/11) (from Ch. 17, par. 612) Sec. 11. If any such note, bond, bill or other instrument in writing shall be indorsed after the same becomes due, and any indorsee shall institute an action thereon against the maker of the same, the defendant being maker shall be allowe…

(815 ILCS 710/11) (from Ch. 121 1/2, par. 761) Sec. 11. Refunds; discounts. In connection with a sale of a motor vehicle or vehicles to the State or to any political subdivision thereof, no manufacturer, distributor or wholesaler shall offer any discounts, refunds or any other si…

(815 ILCS 340/11) (from Ch. 5, par. 1561) Sec. 11. As between the manufacturer and its authorized dealer this Act shall not affect the contractual and legal rights and obligations of either party. (Source: P.A. 85-894.)