This Act does not apply to any person, partnership, association, limited liability company, or corporation doing business under and as permitted by any law of this State or of the United States relating to banks, savings and loan associations, savings banks, credit unions, or licensees under the Residential Mortgage License Act for residential mortgage loans made pursuant to that Act. This Act does not apply to business loans. This Act does not apply to payday loans.
205 ILCS 670/21
Application of Act
Known as the Consumer Installment Loan Act
The act spans §§ 205-670-1 to 205-670-9-1 (48 sections).
P.A. 94-13, eff. 12-6-05.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.