Illinois Compiled Statutes - Full Text

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Illinois Compiled Statutes - Full Text

Illinois Compiled Statutes (ILCS)

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205 ILCS 740/2.03

    (205 ILCS 740/2.03) (was 225 ILCS 425/2.03)
    Sec. 2.03. Exemptions. This Act does not apply to the following:
        1. Banks, including trust departments, affiliates,
    
and subsidiaries thereof, and fiduciaries (except those who own or operate collection agencies);
        2. Abstract companies doing an escrow business;
        3. Real estate brokers when acting in the pursuit of
    
their profession;
        4. Public officers and judicial officers acting under
    
order of a court;
        5. Licensed attorneys at law;
        6. Insurance companies;
        7. Credit unions, including affiliates and
    
subsidiaries thereof (except those who own or operate collection agencies);
        8. Persons licensed pursuant to the Residential
    
Mortgage License Act of 1987 when engaged in activity authorized under that Act;
        9. Retail sellers collecting on retail installment
    
contracts or retail charge agreements originated by the retail seller;
        10. Unit Owner's Associations established under the
    
Condominium Property Act, and their duly authorized agents, when collecting assessments from unit owners;
        11. Any person under contract with a creditor to
    
notify the creditor's debtors of a debt using only the creditor's name;
        12. Persons licensed pursuant to the Sales Finance
    
Agency Act when engaged in collection of accounts purchased or loans they made pursuant to that Act;
        13. Persons licensed pursuant to the Student Loan
    
Servicing Act when engaged in activity authorized under that Act;
        14. Persons licensed pursuant to the Consumer
    
Installment Loan Act when engaged in collection of loans that they originated under that Act;
        15. Persons engaged in the business of originating
    
loans of money pursuant to the Interest Act when engaged in collecting loans that they originated under that Act;
        16. Motor vehicle retail sellers collecting motor
    
vehicle retail installment contracts originated by the motor vehicle retail seller;
        17. Any person licensed pursuant to the Consumer
    
Legal Funding Act when engaged in activity authorized by that Act;
        18. Any person licensed pursuant to the Pawnbroker
    
Regulation Act of 2023 when engaged in activity authorized by that Act; and
        19. Any person identified by the Department by rule.
(Source: P.A. 104-149, eff. 1-1-26.)