Illinois § 38 Validation of loans and investments

Illinois Statutes

§ 38 — Validation of loans and investments

Illinois § 38

TopicREGULATION

Ch. 205FINANCIAL REGULATION

Act 205 ILCS 5/Illinois Banking Act.

This text of Illinois § 38 (Validation of loans and investments) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

205 Ill. Comp. Stat. 38 (2026).

Text

Every loan made or obligation or security purchased or discounted in violation of the provisions of this Act shall be due and payable according to its terms and the remedy for the recovery of any money loaned or obligation or security purchased or discounted in violation of the provisions of this Act or for the enforcement of any agreement, collateral or otherwise, made in connection with any such loan or obligation or security shall not be held to be impaired, affected or prohibited by reason of such violation, but such remedy shall exist notwithstanding the same.

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Every loan made or obligation or security purchased or discounted in violation of the provisions of this Act shall be due and payable according to its terms and the remedy for the recovery of any money loaned or obligation or security purchased or discounted in violation of the provisions of this Act or for the enforcement of any agreement, collateral or otherwise, made in connection with any such loan or obligation or security shall not be held to be impaired, affected or prohibited by reason of such violation, but such remedy shall exist notwithstanding the same.

Legislative History

(Source: Laws 1955, p. 83.)

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Bluebook (online)

Illinois § 38, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/205/38.