For loans with an original principal amount of $3,000 or less, a licensee shall not take any security interest in real estate, except such lien as results from obtaining a judgment.
205 ILCS 670/16b
No real estate security in certain cases
Known as the Consumer Installment Loan Act
The act spans §§ 205-670-1 to 205-670-9-1 (48 sections).
P.A. 84-1004.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.