Illinois Statutes
§ 15-5-16 — Prohibition on secured loans for canines and felines
Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 815 BUSINESS TRANSACTIONS·Act 815 ILCS 123/ Predatory Loan Prevention Act.
No person or entity shall make a secured loan for the purchase of a canine or feline. Any secured loan made for the purchase of a canine or feline is null and void. This Section shall apply prospectively and shall not apply retroactively. This Section shall not impair or affect the obligation of any lawful secured loan entered into before the effective date of this amendatory Act of the 103rd General Assembly.
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Illinois § 15-5-16 (Prohibition on secured loans for canines and felines) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 103-339, eff. 1-1-24 .)
Nearby Sections
15
§ 15-1
Short title§ 15-1-1
Short title§ 15-1-10
Definitions§ 15-1-15
Applicability§ 15-1-5
Purpose and construction§ 15-10
Registration required§ 15-10-10
Preemption of administrative rules§ 15-10-15
Reporting of violations§ 15-10-20
Judicial review§ 15-10-25
No waivers§ 15-10-30
Superiority of Act§ 15-10-35
Severability§ 15-10-5
Enforcement and remedies§ 15-100
Immunity for official acts