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Code · Illinois · Chapter 205 — FINANCIAL REGULATION · Act 665

Sec. 16.5. Additional liability for unlicensed activity.

72 words·~1 min read·/il/chapter-205/act-665/16-5

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Sec. 16.5. Additional liability for unlicensed activity. Any person who, without the required license, engages in conduct requiring a license under this Act, shall be liable to the Department in an amount equal to the greater of
(1)$1,000 or
(2)an amount equal to 4 times the amount of consumer debt enrolled. The Department shall cause any funds so recovered to be deposited in the Debt Management Service Consumer Protection Fund.
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