Collection Agency Act
Illinois · Financial Regulation · §§ 205-740-1 to 205-740-9-7 · 61 sections
Overview
The Collection Agency Act governs the business of collecting debts owed to others, requiring collection agencies to hold a license issued by a state regulatory department and defining which persons and activities are exempt from that requirement. It sets out the department's powers over licensing — original applications, expiration, renewal, restoration, summary suspension, and reinstatement after discipline — along with an administrative process of investigation, notice and hearing before a hearing officer, subpoenas and sworn testimony, findings and recommendations, consent orders, rehearing, and judicial review of the resulting order. The act also bars unlicensed practice and backs that prohibition with cease and desist authority, injunctions, civil penalties, and criminal penalties that increase for repeat offenses, while providing for participation in a multi-state licensing system and addressing particular matters such as the collection of child support debt and fines for returned checks.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
Sections covered
- 205 ILCS 740/1This Act shall be known and may be cited as the "Collection Agency Act"
- 205 ILCS 740/10(Repealed)
- 205 ILCS 740/11Consent orders
- 205 ILCS 740/13(Repealed)
- 205 ILCS 740/13.1Annual meeting between debt collection industry and the Department
- 205 ILCS 740/13.2Powers and duties of Department
- 205 ILCS 740/13.3(Repealed)
- 205 ILCS 740/14(Repealed)
- 205 ILCS 740/14aUnlicensed practice; Injunctions
- 205 ILCS 740/14bPenalty of unlawful practice; second and subsequent offenses
- 205 ILCS 740/15If any clause, sentence, Section, provision or part of this Act shall be adjudged to be unconstitutional or invalid for any reason, such judgment shall not impair, affect or invalidate the remainder of this Act, which shall be in full force and effect thereafter
- 205 ILCS 740/16Investigation; notice and hearing
- 205 ILCS 740/17Record of hearing; transcript
- 205 ILCS 740/18Subpoenas; oaths; attendance of witnesses
- 205 ILCS 740/19Findings and recommendations
- 205 ILCS 740/1aDeclaration of public policy
- 205 ILCS 740/2Definitions
- 205 ILCS 740/20Rehearing
- 205 ILCS 740/2.01(Repealed)
- 205 ILCS 740/2.02(Repealed)
- 205 ILCS 740/2.03Exemptions
- 205 ILCS 740/2.04Child support debt
- 205 ILCS 740/21Secretary; rehearing
- 205 ILCS 740/22Appointment of a hearing officer
- 205 ILCS 740/23Order or certified copy; prima facie proof
- 205 ILCS 740/24Restoration of license from discipline
- 205 ILCS 740/25(Repealed)
- 205 ILCS 740/2.5Address of record; email address of record
- 205 ILCS 740/26Administrative review; venue
- 205 ILCS 740/27Certifications of record; costs
- 205 ILCS 740/3(Repealed)
- 205 ILCS 740/30Expiration, renewal, and restoration of license
- 205 ILCS 740/35Returned checks; fines
- 205 ILCS 740/4Financial Regulation › 205 ILCS 740 — Collection Agency Act
- 205 ILCS 740/40Unlicensed practice; cease and desist
- 205 ILCS 740/45Summary suspension of license
- 205 ILCS 740/4.5Unlicensed practice; violation; civil penalty
- 205 ILCS 740/4.6Multi-state licensing system
- 205 ILCS 740/5Application for original license
- 205 ILCS 740/50Consent order
- 205 ILCS 740/55Confidentiality
- 205 ILCS 740/6(Repealed)
- 205 ILCS 740/60Liability; federal compliance
- 205 ILCS 740/6a(Repealed)
- 205 ILCS 740/7Qualifications for license
- 205 ILCS 740/8Bond requirement
- 205 ILCS 740/8.5Debt buyers
- 205 ILCS 740/8.6Debt buyer activities
- 205 ILCS 740/8aFees
- 205 ILCS 740/8a-1(a) No account may be referred by a collection agency to an attorney unless, prior to placing an account with an attorney for further collection action, each account creditor is notified in writing by the collection agency of the collection agency's intent to refer the account to an attorney
- 205 ILCS 740/8bAssignment for collection
- 205 ILCS 740/8cFinancial Regulation › 205 ILCS 740 — Collection Agency Act
- 205 ILCS 740/9Disciplinary actions
- 205 ILCS 740/9.1Communication with persons other than debtor
- 205 ILCS 740/9.2Communication in connection with debt collection
- 205 ILCS 740/9.22Illinois Administrative Procedure Act
- 205 ILCS 740/9.3Validation of debts
- 205 ILCS 740/9.4Debt collection as a result of identity theft
- 205 ILCS 740/9.5Statute of limitations
- 205 ILCS 740/9.6Coerced debt
- 205 ILCS 740/9.7Enforcement under the Consumer Fraud and Deceptive Business Practices Act
Enacted in other states
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