Sec. 29.5. Prohibition on retail installment transactions for canines and felines.
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/il/chapter-815/act-405/29-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 29.5. Prohibition on retail installment transactions for canines and felines. No retail seller shall enter into a retail installment transaction for the purchase of a canine or feline. Any retail seller, including his or her assignee or successor in interest, who enters into a retail installment transaction for a canine or feline has no right to collect, receive, or retain any principal, interest, or charges related to the retail installment transaction and the retail installment transaction is null and void.
This Section shall apply prospectively and shall not apply retroactively. This Section shall not impair or affect the obligation of any retail installment transaction entered into before the effective date of this amendatory Act of the 103rd General Assembly.