Illinois Statutes
§ 60 — Prepayment penalties prohibited
Illinois § 60
JurisdictionIllinois
TopicRIGHTS AND REMEDIES
Ch. 765PROPERTY
Act 765 ILCS 67/Installment Sales Contract Act.
This text of Illinois § 60 (Prepayment penalties prohibited) 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
765 Ill. Comp. Stat. 60 (2026).
Text
The seller may not charge or collect a prepayment penalty or any similar fee or finance charge if the buyer elects to pay the outstanding principal balance of the purchase price under the contract before the scheduled payment date under the contract.
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
(Source: P.A. 100-416, eff. 1-1-18 .)
Cite This Page — Counsel Stack
Bluebook (online)
Illinois § 60, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/765/60.