Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 110 - CONSUMER INSTALLMENT LOAN ACT
Subpart A - GENERAL PROVISIONS
Section 110.40 - File of Original Papers
Current through Register Vol. 48, No. 12, March 22, 2024
a) Files
b) All legal instruments bearing evidence of indebtedness taken in connection with a loan and executed by an obligor including the disclosure statement of loan shall bear the loan number.
c) No licensee shall offer to or accept from an obligor any instruments that contain blank terms.
d) All spaces or sections not used in the preparation of legal documents shall be ruled out or designated as "none", or "n/a".
e) Any amendments to closed-end contracts shall be signed by the obligor and creditor.
f) The name and address of the licensee making the loan shall appear on any note, wage assignment, security agreement or other legal instrument taken from an obligor before the proceeds of the loan are delivered.