Interest or finance charges collected or charged to a service member who has entered military service, or the spouse of that service member, in connection with an obligation entered into on or after the date of August 22, 2005, but prior to the date that the service member entered military service, shall be subject to Section 4.05 of the Interest Act.
330 ILCS 63/40
Limitation on interest rate
Known as the Illinois Service Member Civil Relief Act
The act spans §§ 330–330 (34 sections).
P.A. 97-913, eff. 1-1-13.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.