Chapter 19 - Consumer Finance.

Chapter 19 - Consumer Finance.

Section 5-19-1 - Definitions.
Section 5-19-1.1 - Legislative findings.
Section 5-19-3 - Maximum finance charges; contracting for minimum finance charge; alternate per month computed finance charge.
Section 5-19-4 - Additional charges for default or deferral; prepayment; renewal or refinancing; real property transactions.
Section 5-19-5 - Acceptance of negotiable instruments as evidence of consumer debt.
Section 5-19-6 - Copies of instruments signed by debtors to be furnished to debtors; required statement in contracts, etc.; limitation on disclosure requirements; intent, applicability of limitation.
Section 5-19-7 - Right to refinance amount of certain scheduled payments.
Section 5-19-8 - Assignee of seller subject to claims and defenses of buyer.
Section 5-19-9 - Application of payments when buyer indebted to same seller for two or more consumer credit sales.
Section 5-19-10 - Contract provisions for attorney's fees.
Section 5-19-12 - Buyer's right to cancel home solicitation sale.
Section 5-19-13 - Repossession or acceptance of surrender of goods priced at one thousand dollars or less.
Section 5-19-14 - Rebates or discounts, etc., as inducement for aiding sale to another prohibited.
Section 5-19-15 - Garnishment.
Section 5-19-16 - Refusal by court to enforce unconscionable agreement.
Section 5-19-17 - Inducing obligation on more than one contract in order to obtain higher finance charge prohibited; consolidation of existing precomputed consumer credit transaction contract and subsequent precomputed consumer credit transaction.
Section 5-19-18 - Installment payment of debt of one thousand dollars or less.
Section 5-19-19 - Liabilities of creditor making excess finance charge; failure to obtain license; damages for deliberate violation or reckless disregard; written notice of violations; oral statements not admissible; fiduciary duty not created.
Section 5-19-20 - Insurance.
Section 5-19-21 - Administrator authorized to make rules and regulations; filing notice of intended action with Legislative Reference Service; transactions entered into after May 20, 1996.
Section 5-19-22 - License to engage in business of making consumer loans or taking assignments of consumer credit contracts - Required; exceptions; application; investigation; standards for issuance; hearing; licensing under Small Loan Act; fees; participation in Nationwide Mortgage Licensing System and Registry.
Section 5-19-23 - License to engage in business of making consumer loans or taking assignments of consumer credit contracts - Revocation or suspension.
Section 5-19-24 - Examinations and investigations of licensees by administrator.
Section 5-19-25 - Cease and desist orders by administrator; penalties for violation of this chapter; right to counsel at hearing; judicial review.
Section 5-19-26 - Appeals to circuit court from order of administrator; appeals from decision of circuit court.
Section 5-19-29 - Injunctions.
Section 5-19-30 - Penalty for violations.
Section 5-19-31 - Nonapplicability of chapter to certain transactions; certain laws not repealed or amended.
Section 5-19-32 - Service contracts.
Section 5-19-33 - Account maintenance fee.

We have updated our Terms of Service, Privacy Policy, and Disclosures. By continuing to browse this site, you agree to our Terms of Service, Privacy Policy, and Disclosures.

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.

Bookish