Illinois Statutes
§ 6005 — General loan contract provisions
Illinois·Topic REGULATION·Ch. 205 FINANCIAL REGULATION·Act 205 ILCS 205/ Savings Bank Act.·Art. Article 6 - Investments
Each loan and any agreement for securing the loan shall be evidenced by one or more written instruments, consistent with sound lending practices in the locality. Whenever recordation of an instrument is necessary to establish priority over the claim of any third party, the instrument shall be recorded.
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Illinois § 6005 (General loan contract provisions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 86-1213.)
Nearby Sections
15
§ 6001
General provisions§ 6002
Investment in loans§ 6003
Other investments§ 6006
Modification agreements§ 6010
Prohibited loans§ 6012
Acknowledgments§ 6013
Loans to one borrower