At the time a loan is made or within 20 days after a loan is made, a licensee shall not (i) accept a check and agree to hold it for a period of days before deposit or presentment or (ii) accept a check dated subsequent to the date written.
205 ILCS 670/19.2
Licensee; prohibition against accepting certain checks
Known as the Consumer Installment Loan Act
The act spans §§ 205-670-1 to 205-670-9-1 (48 sections).
P.A. 96-936, eff. 3-21-11.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.