(205 ILCS 660/17) (from Ch. 17, par. 5235)
Sec. 17.
Application of Act.
(a) This Act does not apply to any credit union, bank, banking
association, trust company, savings bank, or savings and loan
association authorized to do
business under the laws of this State or of the United States.
(b) This Act does not apply to a person or entity that, in connection
with a securitization, private placement, or similar type of investment
transaction, lends against or purchases from an Illinois licensed sales finance
agency retail installment contracts, retail charge agreements, or the
outstanding balances or any portion of the outstanding balances under those
contracts or agreements, provided that the licensed sales finance agency
retains the servicing of the agreements or contracts and maintains the records
for those agreements and contracts.
(c) This Act does not apply to a special purpose vehicle.
(Source: P.A. 89-400, eff. 8-20-95.)
|