TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER I: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 110 CONSUMER INSTALLMENT LOAN ACT
SECTION 110.430 GROSS MONTHLY INCOME VERIFICATION


 

Section 110.430  Gross Monthly Income Verification

 

Prior to making a title-secured loan, the lender must obtain from the obligor one or more of the following types of documentation to verify the gross monthly income of the obligor as required by Section 110.370(a).

 

a)         A copy of the obligor's most recent official pay stub or official payroll receipt;

 

b)         A copy of the obligor's most recent official receipt documenting payment of government benefits; or

 

c)         Other documentation as approved by the Director.

 

(Source:  Added at 33 Ill. Reg. 4142, effective April 1, 2009)