(205 ILCS 635/3-3) (from Ch. 17, par. 2323-3)
Sec. 3-3.
Advertising.
In addition to such other rules, regulations
and policies as the Commissioner may promulgate to effectuate the purpose of
this Act, the Commissioner shall prescribe regulations governing the
advertising of mortgage loans, including without limitation, the following
requirements:
(a) Advertising for loans transacted under this Act may not be false,
misleading or deceptive. No entity whose activities are regulated under
this Act may advertise in any manner so as to indicate or imply that its
interest rates or charges for loans are in any way "recommended", "approved",
"set" or "established" by the State or by this Act. The Commissioner may issue
a cease and desist order for any violation of this Section.
(b) All advertisements by a licensee shall contain the name and an
office address of such entity, which shall conform to a name and address on
record with the Commissioner.
(c) No licensee shall advertise its services in Illinois in any media,
whether print or electronic, without the words "Illinois Residential
Mortgage Licensee".
(Source: P.A. 87-1098.)
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