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Code · Illinois · Chapter 205 — FINANCIAL REGULATION · Act 660

Sec. 3. No person may engage in the business of a sales finance agency in this State without first obtaining a license as provided in this Act.

106 words·~1 min read·/il/chapter-205/act-660/3

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Sec. 3. No person may engage in the business of a sales finance agency in this State without first obtaining a license as provided in this Act. A licensee under the Consumer Installment Loan Act may engage in the business of a sales finance agency without securing a license under this Act. A Consumer Installment Loan Act licensee engaged in the business of a sales finance agency is required to comply with this Act and violations of this Act may result in penalties, revocation of the licensee's authority to engage in sales finance agency activity, or revocation or suspension of the Consumer Installment Loan Act license.
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