(205 ILCS 660/3)
(from Ch. 17, par. 5203)
No person may engage in the business of a sales finance agency in
this State without first obtaining a license as provided in this Act. A
licensee under the Consumer Installment Loan Act may
engage in the business of a sales finance agency without securing a license
under this Act.
A Consumer Installment Loan Act licensee engaged in the business of a sales
finance agency is required to comply with this Act and violations of this Act
may result in penalties, revocation of the licensee's authority to engage in
sales finance agency activity, or revocation or suspension of the Consumer
Installment Loan Act license.
(Source: P.A. 90-437, eff. 1-1-98.)