Illinois General Assembly - Illinois Compiled Statutes

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740 ILCS 170/1

(740 ILCS 170/1) (from Ch. 48, par. 39.1)

Sec. 1.

No assignment of wages earned or to be earned is valid unless

(1) Made in a written instrument (a) signed by the wage-earner in person
and (b) bearing the date of its execution, the social security number of
the wage-earner, the name of the employer of the wage-earner at the time of
its execution, the amount of the money loaned or the price of the articles
sold or other consideration given, the rate of interest or time-price
differential, if any, to be paid, and the date when such payments are due;

(2) Given to secure an existing debt of the wage-earner or one
contracted by the wage-earner simultaneously with its execution;

(3) An exact copy thereof is furnished to the wage-earner at the time
the assignment is executed;

(4) The words "Wage Assignment" are printed or written in bold face
letters of not less than 1/4 inch in height at the head of the wage
assignment and also one inch above or below the line where the wage-earner
signs that assignment;

(5) Written as a separate instrument complete in itself and not a part
of any conditional sales contract or any other instrument.

The requirement of the social security number of the wage-earner imposed
by this Act applies only as to wage assignments made after January 1, 1966.

(Source: Laws 1967, p. 2049.)