Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 110 - CONSUMER INSTALLMENT LOAN ACT
Subpart A - GENERAL PROVISIONS
Section 110.20 - Loan Register

Universal Citation: 38 IL Admin Code ยง 110.20

Current through Register Vol. 48, No. 12, March 22, 2024

a) The loan register shall contain the original entry and shall be a permanent record, and shall show for every loan the account number, date of loan, amount of loan, name of obligor, nature of security by types, amount of fees, cost and type of any insurance, and amount of the note, including precomputed interest, the simple interest rate contracted for or amount of precomputed interest.

b) The loan register shall be kept numerically by number of loans in order made and shall have headings for each of the items required.

c) Loan Registers shall be maintained in a form accessible to the Department and a licensee may maintain these files in any medium or format which accurately reproduces original documents or papers.

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