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Illinois Compiled Statutes

Information maintained by the Legislative Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

HIGHER EDUCATION
(110 ILCS 26/) Credit Card Marketing Act of 2009.

110 ILCS 26/1

    (110 ILCS 26/1)
    Sec. 1. Short title. This Act may be cited as the Credit Card Marketing Act of 2009.
(Source: P.A. 96-261, eff. 1-1-10.)

110 ILCS 26/5

    (110 ILCS 26/5)
    Sec. 5. Definitions. As used in this Act:
    "Credit card" means a card or device issued under an agreement by which the credit card issuer gives to a cardholder residing in the State of Illinois the privilege of obtaining credit from the credit card issuer or another person in connection with the purchase or lease of goods or services primarily for personal, family, or household use.
    "Credit card issuer" means a financial institution, a lender other than a financial institution, or a merchant that receives applications and issues credit cards to individuals.
    "Credit card marketing activity" means any action designed to promote the completion of an application by a student to qualify to receive a credit card. Credit card marketing activity includes, but is not limited to, the act of placing a display or poster together with credit card applications on a campus of an institution of higher education in the State of Illinois, whether or not an employee or agent of the credit card issuer attends the display. "Credit card marketing activity" does not include promotional activity of a credit card issuer in a newspaper, magazine, or other similar publication or within the physical location of a financial services business located on the campus of an institution of higher education, when that activity is conducted as a part of the financial services business's regular course of business.
    "Institution of higher education" means any publicly or privately operated university, college, community college, junior college, business, technical or vocational school, or other educational institution offering degrees and instruction beyond the secondary school level.
    "Student pursuing an undergraduate education" means any individual under the age of 21 admitted to or applying for admission to an institution of higher education, or enrolled on a full or part time basis in a course or program of academic, business, or vocational instruction offered by or through an institution of higher education, where credits earned could be applied toward the earning of a bachelors or associates degree.
    "Tangible personal property" means personal property that can be seen, weighed, measured, or touched, or that is in any other matter perceptible to the senses, including, but not limited to, gift cards, t-shirts, and other giveaways.
(Source: P.A. 96-261, eff. 1-1-10.)

110 ILCS 26/10

    (110 ILCS 26/10)
    Sec. 10. Financial education. Any institution of higher education that enters into an agreement to market credit cards to students pursuing an undergraduate education, or that allows its student groups, alumni associations, or affiliates to enter into such agreements must make a financial education program available to all students. Additionally, an institution of higher education shall make available to all its students, via posting in a conspicuous location on its web pages, the financial education information required by this Section. The financial education program shall include, at a minimum:
        (1) an explanation of the consequences of not paying
    
credit card balances in full within the time specified by the billing statement, including an explanation of the methods employed by credit card issuers to compute interest on unpaid balances;
        (2) an explanation of common industry practices that
    
have a negative impact to consumer credit card holders; current examples include low introductory rates, a description of acts on the part of cardholder that would cause an immediate shift to a higher interest rate, and complex timing calculations which can trigger higher rates;
        (3) examples illustrating the length of time it will
    
take to pay off various balance amounts if only the minimum monthly payment required under the agreement is paid;
        (4) an explanation of credit related terms, including
    
but not limited to fixed rates, variable rates, introductory rates, balance transfers, grace periods, and annual fees;
        (5) information concerning the federal government's
    
opt-out program to limit credit card solicitations, and how students may participate in it; and
        (6) an explanation of the impact of and potential
    
consequences that could result from using a debit card for purchases that exceed the deposits in the account tied to the debit card.
(Source: P.A. 96-261, eff. 1-1-10.)

110 ILCS 26/15

    (110 ILCS 26/15)
    Sec. 15. Disclosure of agreements with credit card issuers.
    (a) Any institution of higher education, including its agents, employees, or student or alumni organizations, or affiliates that receives any funds or items of value from the distribution of applications for credit cards to students pursuing an undergraduate education, or whose student groups, alumni associations or affiliates, or both, receive funds or items of value from the distribution, must disclose the following:
        (1) the name of the credit card issuer that has
    
entered into an agreement with the institution of higher education;
        (2) the nature of the institution of higher
    
education's relationship with the credit card issuer, including the amount of funds or other items of value received from the arrangement; and
        (3) the way in which those funds were expended during
    
the previous school year.
    (b) Disclosures must appear in the following locations:
        (1) in a conspicuous location on the webpages of the
    
institution of higher education;
        (2) in an annual report to the Illinois Board of
    
Higher Education; and
        (3) in any notices mailed to students marketing or
    
promoting the credit card.
    (c) To the extent that the institution of higher education is a State or government entity receiving public funds and otherwise subject to the Freedom of Information Act, all agreements with credit card issuers shall be subject to disclosure to any requester pursuant to the Freedom of Information Act.
    (d) This Section applies to all contracts or agreements entered into after the effective date of this Act. Nothing in this Section is intended to or shall impair the obligations, terms, conditions, or value of contracts between credit card issuers and institutions of higher education that were entered into before the effective date of this Act.
(Source: P.A. 96-261, eff. 1-1-10.)

110 ILCS 26/20

    (110 ILCS 26/20)
    Sec. 20. Gifts and inducements. No institution of higher education shall knowingly allow on its campus credit card marketing activity that involves the offer of gifts, coupons, or other tangible personal property to students pursuing an undergraduate education where the ultimate goal is to induce a student to complete an application for a credit card. All institutions of higher education shall prohibit their students, student groups, alumni associations, or affiliates from providing gifts, coupons, or other tangible personal property to students pursuing an undergraduate education where the ultimate goal is to induce a student to complete an application for a credit card.
(Source: P.A. 96-261, eff. 1-1-10.)

110 ILCS 26/25

    (110 ILCS 26/25)
    Sec. 25. Provision of student information prohibited. Institutions of higher education, including their agents, employees, student groups, alumni organizations, or any affiliates may not provide to a business organization or financial institution for purposes of marketing credit cards the following information about students pursuing an undergraduate education: (i) name, (ii) address, (iii) telephone number, (iv) social security number, (v) e-mail address, or (vi) other personally identifying information. This requirement is waived if the student pursuing an undergraduate education is 21 years of age or older.
(Source: P.A. 96-261, eff. 1-1-10.)

110 ILCS 26/30

    (110 ILCS 26/30)
    Sec. 30. Enforcement; violations. Whenever the Attorney General has reason to believe that any institution of higher education is knowingly using, has used, or is about to use any method, act, or practice in violation of this Act, or knows or should have reason to know that agents, employees, students, student groups, alumni associations, or affiliates used or are about to use any method, act, or practice in violation of this Act, the Attorney General may bring an action in the name of the State against any institution of higher education to restrain and prevent any violation of this Act and seek penalties in amounts up to $1000 per incident.
(Source: P.A. 96-261, eff. 1-1-10.)

110 ILCS 26/35

    (110 ILCS 26/35)
    Sec. 35. Attorney General; investigations; issuance of subpoenas.
    (a) The Attorney General may conduct any investigation deemed necessary regarding possible violations of this Act including, but not limited to, the issuance of subpoenas to:
        (1) require the filing of a statement or report or
    
answer interrogatories in writing as to all information relevant to the alleged violations;
        (2) examine under oath any person who possesses
    
knowledge or information directly related to the alleged violations; and
        (3) examine any record, book, document, account, or
    
paper necessary to investigate the alleged violation.
    (b) Service by the Attorney General of any notice requiring a person to file a statement or report, or of a subpoena upon any person, shall be made:
        (1) personally by delivery of a duly executed copy
    
thereof to the person to be served or, if the person is not a natural person, in the manner provided in the Code of Civil Procedure when a complaint is filed; or
        (2) by mailing by certified mail a duly executed copy
    
thereof to the person to be served at his or her last known abode or principal place of business within this State.
    (c) If any person fails or refuses to file any statement or report, or obey any subpoena issued by the Attorney General, then the Attorney General may file a complaint in the circuit court for the:
        (1) granting of injunctive relief, restraining the
    
sale or advertisement of any merchandise by such persons, or the conduct of any trade or commerce that is involved; and
        (2) granting of such other relief as may be required;
    
until the person files the statement or report, or obeys the subpoena.
(Source: P.A. 96-261, eff. 1-1-10.)

110 ILCS 26/97

    (110 ILCS 26/97)
    Sec. 97. Severability. The provisions of this Act are severable under Section 1.31 of the Statute on Statutes.
(Source: P.A. 96-261, eff. 1-1-10.)

110 ILCS 26/900

    (110 ILCS 26/900)
    Sec. 900. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/905

    (110 ILCS 26/905)
    Sec. 905. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/910

    (110 ILCS 26/910)
    Sec. 910. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/915

    (110 ILCS 26/915)
    Sec. 915. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/920

    (110 ILCS 26/920)
    Sec. 920. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/925

    (110 ILCS 26/925)
    Sec. 925. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/930

    (110 ILCS 26/930)
    Sec. 930. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/935

    (110 ILCS 26/935)
    Sec. 935. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/940

    (110 ILCS 26/940)
    Sec. 940. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/945

    (110 ILCS 26/945)
    Sec. 945. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/950

    (110 ILCS 26/950)
    Sec. 950. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)

110 ILCS 26/955

    (110 ILCS 26/955)
    Sec. 955. (Amendatory provisions; text omitted).
(Source: P.A. 96-261, eff. 1-1-10; text omitted.)