(105 ILCS 5/10-23.11)
(from Ch. 122, par. 10-23.11)
To accept payment for student fees and expenses through
the use of credit cards and to negotiate and execute such contracts as may
be necessary to accept such credit card payments.
In this context, "credit card" means any instrument or device, whether
known as a credit card, credit plate, charge plate or any other name,
issued with or without fee by an issuer for the use of the cardholder in
obtaining money, goods, services or anything else of value on credit or in
consideration of an undertaking or guaranty by the issuer of the payment of
a check drawn by the cardholder.
(Source: P.A. 84-388.)