Sec. 1. No assignment of wages earned or to be earned is valid unless.
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/il/chapter-740/act-170/1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1. No assignment of wages earned or to be earned is valid unless
(1)Made in a written instrument
(a)signed by the wage-earner in person and
(b)bearing the date of its execution, the social security number of the wage-earner, the name of the employer of the wage-earner at the time of its execution, the amount of the money loaned or the price of the articles sold or other consideration given, the rate of interest or time-price differential, if any, to be paid, and the date when such payments are due;
(2)Given to secure an existing debt of the wage-earner or one contracted by the wage-earner simultaneously with its execution;
(3)An exact copy thereof is furnished to the wage-earner at the time the assignment is executed;
(4)The words "Wage Assignment" are printed or written in bold face letters of not less than 1/4 inch in height at the head of the wage assignment and also one inch above or below the line where the wage-earner signs that assignment;
(5)Written as a separate instrument complete in itself and not a part of any conditional sales contract or any other instrument.
The requirement of the social security number of the wage-earner imposed by this Act applies only as to wage assignments made after January 1, 1966.