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Code · Illinois · Chapter 815 — BUSINESS TRANSACTIONS · Act 137

Sec. 145. Subterfuge prohibited.

48 words·~1 min read·/il/chapter-815/act-137/145

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Sec. 145. Subterfuge prohibited. No lender, with the intent to avoid the application or provisions of this Act, shall
(i)divide a loan transaction into separate parts,
(ii)structure a loan transaction as an open-end credit plan or another form of loan, or
(iii)perform any other subterfuge.
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