Illinois § 13.2

Illinois Statutes

§ 13.2

Illinois § 13.2

TopicREGULATION

Ch. 205FINANCIAL REGULATION

Act 205 ILCS 740/Collection Agency Act.

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Bluebook

205 Ill. Comp. Stat. 13.2 (2026).

Text

(was 225 ILCS 425/13.2) Sec. 13.2. Powers and duties of Department. The Department shall exercise the powers and duties prescribed by the Financial Institutions Act for the administration of licensing Acts and shall exercise such other powers and duties necessary for effectuating the purposes of this Act. Subject to the provisions of this Act, the Department may:

(1)Conduct hearings on proceedings to refuse to issue or renew or to revoke licenses or suspend, place on probation, or reprimand persons licensed under this Act.

(2)To adopt rules consistent with the purposes of this Act, including, but not limited to:

(i)rules in connection with the activities of collection agencies as may be necessary and appropriate for the protection of consumers in this State;

(ii)rules as may be necessa

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(was 225 ILCS 425/13.2) Sec. 13.2. Powers and duties of Department. The Department shall exercise the powers and duties prescribed by the Financial Institutions Act for the administration of licensing Acts and shall exercise such other powers and duties necessary for effectuating the purposes of this Act. Subject to the provisions of this Act, the Department may: (1) Conduct hearings on proceedings to refuse to issue or renew or to revoke licenses or suspend, place on probation, or reprimand persons licensed under this Act. (2) To adopt rules consistent with the purposes of this Act, including, but not limited to: (i) rules in connection with the activities of collection agencies as may be necessary and appropriate for the protection of consumers in this State; (ii) rules as may be necessary and appropriate to define and enforce against improper or fraudulent business practices in connection with the activities of collection agencies; (iii) rules that define the terms used in this Act and as may be necessary and appropriate to interpret and implement the provisions of this Act; and (iv) rules as may be necessary for the enforcement of this Act. (4) (Blank).