§ 165 — Rules of the Department

Illinois § 165

• Jurisdiction: Illinois
• Topic: BUSINESS AND EMPLOYMENT
• Ch. 815: BUSINESS TRANSACTIONS
• Act 815 ILCS 121/: Consumer Legal Funding Act.

Text

(a) In addition to such powers as may be prescribed by this Act, the Department is hereby authorized and empowered to adopt rules consistent with the purposes of this Act, including, but not limited to: (1) rules in connection with the activities of licensees or unlicensed consumer legal funding companies as may be necessary and appropriate for the protection of consumers in this State; (2) rules as may be necessary and appropriate to define improper or fraudulent business practices in connection with the activities of licensees in servicing consumer legal fundings; (3) 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; (4) rules as may be necessary for the enforcement and administration of this Act; and (5) rules to permit the refinancing of consumer legal fundings. (b) The Secretary is hereby authorized and empowered to make specific rulings, demands, and findings that he or she deems necessary for the proper conduct of the consumer legal funding company industry.

Legislative History

(Source: P.A. 102-987, eff. 5-27-22; 103-974, eff. 1-1-25 .)