Chapter 815 — BUSINESS TRANSACTIONS

(815 ILCS 395/11) (from Ch. 121 1/2, par. 148) Sec. 11. Section 229 a of Division I of "An Act to revise the law in relation to criminal jurisprudence," approved March 27, 1874, as amended, is repealed. (Source: Laws 1927, p. 783.)

(815 ILCS 395/2) (from Ch. 121 1/2, par. 139) Sec. 2. (a) When an article is composed of mechanism, works or movements and of a case or cover containing the mechanism, works or movements, a quality mark applied to the article shall be deemed not to be, nor to be intended to be, a…

(815 ILCS 395/3) (from Ch. 121 1/2, par. 140) Sec. 3. If there is any quality mark printed, stamped, or branded on the article itself, there must also be printed, stamped, or branded on the said article itself the following mark, to-wit: A trade-mark duly applied for or registere…

(815 ILCS 395/4) (from Ch. 121 1/2, par. 141) Sec. 4. (a) All quality marks applied to any article shall be equal in size and equally visible, legible, clear, and distinct and no quality mark which is false, deceptive or misleading shall be applied to any article or to any descri…

(815 ILCS 395/5) (from Ch. 121 1/2, par. 142) Sec. 5. There shall not be applied to any article any quality mark nor any colorable imitation thereof, nor any contraction thereof, nor any addition thereto, nor any words or letters, nor any mark purporting to be or resembling a qua…

(815 ILCS 395/6) (from Ch. 121 1/2, par. 143) Sec. 6. Whenever provided for in this Act, except as specifically excepted in paragraph 4 of section 5 hereof, the word "platinum" may be applied by spelling it out in full or by the abbreviation "Plat."; the word "iridium" may be app…

(815 ILCS 395/7) (from Ch. 121 1/2, par. 144) Sec. 7. Any person, partnership, corporation, or association, or any officer, director, employee, or agent thereof who shall sell or offer or expose for sale in the state any article to which is applied any quality mark which does not…

(815 ILCS 395/8) (from Ch. 121 1/2, par. 145) Sec. 8. In any action relating to the enforcement of any provision of this Act a certificate duly issued by an assay office of the Treasury Department of the United States certifying the weight of any article, or any part thereof, or …

(815 ILCS 395/9) (from Ch. 121 1/2, par. 146) Sec. 9. In any action relating to the enforcement of any provision of this Act proof that an article has been marked in violation of the provisions of this Act shall be deemed to be prima facie proof that such article was manufactured…

(815 ILCS 398/1) Sec. 1. Short title. This Act may be cited as the Resale Dealers Act. (Source: P.A. 98-1096, eff. 1-1-15.)

(815 ILCS 398/10) Sec. 10. Exemptions. The following shall be exempt from the requirements of this Act: (1) Residential garage sales. (2) Sales conducted by governmental, civic, patriotic, fraternal, educational, religious, or benevolent organizations that have been active and in…

(815 ILCS 398/15) Sec. 15. Recordkeeping requirements. (a) Every resale dealer shall keep a standard record book that has been approved by the appropriate law enforcement official. At the time of each sale, an accurate account and description, in the English language, of all the …

(815 ILCS 398/20) Sec. 20. Daily report. It shall be the duty of every resale dealer to make out and deliver to the appropriate law enforcement official where such resale dealer does business, on each day before the hours of 12 o'clock noon, a legible and exact copy from the stan…

(815 ILCS 398/25) Sec. 25. Prohibited purchases. No resale dealer under this Act shall purchase or accept any goods or articles if: (1) the seller is less than 18 years of age; (2) the seller fails to present the appropriate form of identification as required by subsection (b) of…

(815 ILCS 398/30) Sec. 30. Removal of identifying marks prohibited. No resale dealer shall remove, alter, or obliterate any manufacturer's make, model or serial number, personal identification number, or identifying marks engraved or etched upon an item of personal property that …

(815 ILCS 398/35) Sec. 35. Inspection of records and premises of resale dealers. The required records of each resale dealer are subject to inspection during regular business hours by the appropriate law enforcement official for compliance purposes only on an annual basis or more …

(815 ILCS 398/40) Sec. 40. Holding period. (a) No resale dealer shall expose for sale, sell, trade, barter, melt, crush or compact, destroy, or otherwise dispose of any individually identifiable article within 10 days after the date of purchasing or receiving the article. No resa…

(815 ILCS 398/45) Sec. 45. Hold order. (a) For the purposes of this Section, "hold order" means a written legal instrument issued to a resale dealer by a law enforcement officer commissioned by the appropriate law enforcement official of the municipality or county that licenses a…

(815 ILCS 398/5) Sec. 5. Definitions. For the purposes of this Act: "Appropriate law enforcement official" means the sheriff of the county where a resale dealer is located or, if the resale dealer is located within a municipality, the police chief of the municipality, provided, h…

(815 ILCS 398/50) Sec. 50. Violations. (a) Any person who knowingly fails to obey, observe, or comply with the provisions of Sections 15, 20, 25, or 35 of this Act shall be: (i) guilty of a petty offense for which a $750 fine shall be imposed for a first or second offense; (ii) g…

(815 ILCS 398/55) Sec. 55. Local regulation. Nothing in this Act shall be construed to impair the power of a county or municipality, including home rule units, to enforce the provisions of this Act or to license, regulate, suppress, or prohibit resale dealers, provided that any s…

(815 ILCS 398/70) Sec. 70. The Pawnbroker Regulation Act is amended by repealing Section 15. (Source: P.A. 98-1096, eff. 1-1-15.)

(815 ILCS 400/0.01) (from Ch. 111, par. 8050) Sec. 0.01. Short title. This Act may be cited as the Resident Course Act. (Source: P.A. 102-1030, eff. 5-27-22.)

(815 ILCS 400/1) (from Ch. 111, par. 8051) Sec. 1. No individual or agency, authorized by the U.S. Immigration and Naturalization Service to offer a course leading to a certificate of satisfactory pursuit for issuance of permanent resident status, may charge a fee for such course…

(815 ILCS 400/2) (from Ch. 111, par. 8052) Sec. 2. No individual or agency which offers any service or course with the promise of preparing the recipient or enrollee for the English and civics exam of the U.S. Immigration and Naturalization Service for issuance of permanent resid…

(815 ILCS 400/3) (from Ch. 111, par. 8053) Sec. 3. Any individual or agency offering a course or service described in Section 2 shall include within any literature or print or electronic advertisement for such service or course a statement that such service or course is designed …

(815 ILCS 400/4) (from Ch. 111, par. 8054) Sec. 4. Any individual or agency violating any provision of this Act commits a Class A misdemeanor. (Source: P.A. 86-831.)

(815 ILCS 405/1) (from Ch. 121 1/2, par. 501) Sec. 1. This Act may be cited as the Retail Installment Sales Act. (Source: Laws 1967, p. 2149.)

(815 ILCS 405/10) (from Ch. 121 1/2, par. 510) Sec. 10. Credit life insurance and credit accident and health insurance issued in connection with a retail installment contract or retail charge agreement and any charge therefor made to the buyer, must comply with Article IX 1/2 of …

(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 405/11.1) Sec. 11.1. Disclosure of consideration paid to seller. Consideration or another thing of value may be paid to or retained by the seller or holder or an affiliate of the seller or holder in connection with any insurance, debt cancellation contract, or other suc…

(815 ILCS 405/12) (from Ch. 121 1/2, par. 512) Sec. 12. Delinquency charges. A retail installment contract or a retail charge agreement 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 exce…

(815 ILCS 405/12.1) Sec. 12.1. Final installment. Fifteen days after the final installment is due as originally scheduled or deferred, the holder may compute and charge interest on any balance remaining unpaid, including unpaid default or deferment charges, at the annual percenta…

(815 ILCS 405/13) (from Ch. 121 1/2, par. 513) Sec. 13. No provision in a retail installment contract under which, in the absence of the buyer's default, the holder may, arbitrarily and without reasonable cause, accelerate the maturity of any part of or all of the amount owing th…

(815 ILCS 405/14) (from Ch. 121 1/2, par. 514) Sec. 14. The seller shall deliver to the buyer a copy of the retail installment contract signed by the seller. Any acknowledgment by the buyer of delivery of a copy of the contract must be printed or written in a size equal to at lea…

(815 ILCS 405/15) (from Ch. 121 1/2, par. 515) Sec. 15. Notwithstanding Sections 4 and 5 and paragraph (a) of Section 3 of this Act, if delivery of the goods is not made at the time of the execution of the retail installment contract, and the contract so provides, the identifying…

(815 ILCS 405/16) (from Ch. 121 1/2, par. 516) Sec. 16. The seller or holder of a retail installment contract must give the buyer a written receipt for any payment made in cash. Upon the buyer's written request, the holder of a retail installment contract shall give or forward to…

(815 ILCS 405/17) (from Ch. 121 1/2, par. 517) Sec. 17. An agreement by a buyer that he will not assert against the assignee or the holder of a retail installment contract executed by the buyer any claim or defense which he may have against the seller and the rights of a holder i…

(815 ILCS 405/18) (from Ch. 121 1/2, par. 518) Sec. 18. All defenses available against a holder in due course of a negotiable instrument under subsection (2) of Section 3-305 of the Uniform Commercial Code are available to a buyer under a retail installment contract notwithstandi…

(815 ILCS 405/19) (from Ch. 121 1/2, par. 519) Sec. 19. Each person, other than a seller or holder, who signs a retail installment contract, retail charge agreement, or any other agreement or instrument in a retail installment transaction may be held liable only to the extent tha…

(815 ILCS 405/2) (from Ch. 121 1/2, par. 502) Sec. 2. For the purposes of this Act, unless the context otherwise requires, the terms specified in the following Sections preceding Section 3 have the meanings ascribed to them in those Sections. (Source: P.A. 90-437, eff. 1-1-98.)…

(815 ILCS 405/2.1) (from Ch. 121 1/2, par. 502.1) Sec. 2.1. "Goods" means all goods used or purchased primarily for personal, family, or household purposes. "Goods" includes goods purchased primarily for agricultural purposes only for the purposes of the credit disclosure require…

(815 ILCS 405/2.10) (from Ch. 121 1/2, par. 502.10) Sec. 2.10. "Amount financed" means the cash sale price of the goods or services which are the subject matter of a retail installment contract plus all other charges individually itemized, which are included in the amount finance…

(815 ILCS 405/2.11) (from Ch. 121 1/2, par. 502.11) Sec. 2.11. "Finance charge" means the sum of all charges payable, directly or indirectly by the buyer and imposed directly or indirectly by the seller as an incident to or as a condition of the extension of credit, whether payab…

(815 ILCS 405/2.12) (from Ch. 121 1/2, par. 502.12) Sec. 2.12. "Deferred payment price" means the total of (1) the cash sale price of the goods or services purchased, (2) all other charges individually itemized which are included in the amount financed but which are not a part of…

(815 ILCS 405/2.13) (from Ch. 121 1/2, par. 502.13) Sec. 2.13. "Sales finance agency" means a person engaged, in whole or in part, in the business of purchasing or making loans upon the security of retail installment contracts or retail charge agreements. The term includes, but i…

(815 ILCS 405/2.14) (from Ch. 121 1/2, par. 502.14) Sec. 2.14. "Holder" of a retail installment contract or a retail charge agreement means the retail seller of the goods or services under the installment contract or charge agreement or the sales finance agency or other assignee …

(815 ILCS 405/2.15) (from Ch. 121 1/2, par. 502.15) Sec. 2.15. "Annual percentage rate" means the nominal annual percentage rate of finance charge determined in accordance with the actuarial method of computation with an accuracy at least to the nearest 1/4 of 1%; or at the optio…

(815 ILCS 405/2.16) Sec. 2.16. Truth-in Lending Act. "Truth-in-Lending Act" means the federal Truth-in-Lending Act, 15 U.S.C. 1601 et seq., and Regulation Z, 12 C.F.R. Part 226. (Source: P.A. 90-437, eff. 1-1-98.)

(815 ILCS 405/2.17) Sec. 2.17. Precomputed. A contract is "precomputed" if the debt is expressed as a sum of the amount financed plus the amount of the finance charge computed in advance. (Source: P.A. 90-437, eff. 1-1-98.)