(225 ILCS 425/2.03)
(from Ch. 111, par. 2005)
(Section scheduled to be repealed on January 1, 2016)
Sec. 2.03.
This Act does not apply to persons whose collection activities are confined to and are directly related to the operation of a business other than that of a collection agency, and specifically does not include the following:
1. Banks, including trust departments, affiliates,
| and subsidiaries thereof, fiduciaries, and financing and lending institutions (except those who own or operate collection agencies); | |
2. Abstract companies doing an escrow business;
3. Real estate brokers when acting in the pursuit of |
|
4. Public officers and judicial officers acting |
|
5. Licensed attorneys at law;
6. Insurance companies;
7. Credit unions, including affiliates and |
|
8. Loan and finance companies;
9. Retail stores collecting their own accounts;
10. Unit Owner's Associations established under the |
| Condominium Property Act, and their duly authorized agents, when collecting assessments from unit owners; and | |
11. Any person or business under contract with a |
| creditor to notify the creditor's debtors of a debt using only the creditor's name. | |
(Source: P.A. 95‑437, eff. 1‑1‑08.) |
(225 ILCS 425/3)
(from Ch. 111, par. 2006)
(Section scheduled to be repealed on January 1, 2016)
Sec. 3.
A person, association, partnership, corporation, or other legal entity acts as a collection agency when he or it:
(a) Engages in the business of collection for others
| of any account, bill or other indebtedness; | |
(b) Receives, by assignment or otherwise, accounts, |
| bills, or other indebtedness from any person owning or controlling 20% or more of the business receiving the assignment, with the purpose of collecting monies due on such account, bill or other indebtedness; | |
(c) Sells or attempts to sell, or gives away or |
| attempts to give away to any other person, other than one registered under this Act, any system of collection, letters, demand forms, or other printed matter where the name of any person, other than that of the creditor, appears in such a manner as to indicate, directly or indirectly, that a request or demand is being made by any person other than the creditor for the payment of the sum or sums due or asserted to be due; | |
(d) Buys accounts, bills or other indebtedness and |
| engages in collecting the same; or | |
(e) Uses a fictitious name in collecting its own |
| accounts, bills, or debts with the intention of conveying to the debtor that a third party has been employed to make such collection. | |
(Source: P.A. 94‑414, eff. 12‑31‑05; 95‑437, eff. 1‑1‑08.) |