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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.

225 ILCS 425/7

    (225 ILCS 425/7) (from Ch. 111, par. 2010)
    (Text of Section before amendment by P.A. 102-975)
    (Section scheduled to be repealed on January 1, 2026)
    Sec. 7. Qualifications for license. In order to be qualified to obtain a license or a renewal license under this Act, a collection agency's officers shall:
        (a) be of good moral character and of the age of 18
    
years or more;
        (b) (blank); and
        (c) have an acceptable credit rating, have no
    
unsatisfied judgments; and not have been officers and owners of 10% or more interest of a former licensee under this Act whose license was suspended or revoked without subsequent restoration.
(Source: P.A. 99-227, eff. 8-3-15; 100-132, eff. 8-18-17.)
 
    (Text of Section after amendment by P.A. 102-975)
    (Section scheduled to be repealed on January 1, 2026)
    Sec. 7. Qualifications for license. In order to be qualified to obtain a license or a renewal license under this Act, a collection agency's owners or officers shall:
        (a) have the financial responsibility, financial
    
condition, business experience, character, and general fitness such as to merit the confidence and trust of the public that an applicant, licensee, or regulated person is fit, willing, and able to carry on his or her proposed business in a lawful and fair manner;
        (a-5) be 18 years of age or more;
        (b) (blank); and
        (c) have an acceptable credit rating, have no
    
unsatisfied judgments; and not have been officers and owners of 10% or more interest of a former licensee under this Act whose license was suspended or revoked without subsequent restoration.
(Source: P.A. 102-975, eff. 1-1-23.)