(205 ILCS 740/2.03) (was 225 ILCS 425/2.03) Sec. 2.03. Exemptions. This Act does not apply to the following: 1. Banks, including trust departments, affiliates, |
| and subsidiaries thereof, and fiduciaries (except those who own or operate collection agencies);
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2. Abstract companies doing an escrow business;
3. Real estate brokers when acting in the pursuit of
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4. Public officers and judicial officers acting under
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5. Licensed attorneys at law;
6. Insurance companies;
7. Credit unions, including affiliates and
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| subsidiaries thereof (except those who own or operate collection agencies);
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8. Persons licensed pursuant to the Residential
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| Mortgage License Act of 1987 when engaged in activity authorized under that Act;
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9. Retail sellers collecting on retail installment
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| contracts or retail charge agreements originated by the retail seller;
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10. Unit Owner's Associations established under the
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| Condominium Property Act, and their duly authorized agents, when collecting assessments from unit owners;
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11. Any person under contract with a creditor to
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| notify the creditor's debtors of a debt using only the creditor's name;
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12. Persons licensed pursuant to the Sales Finance
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| Agency Act when engaged in collection of accounts purchased or loans they made pursuant to that Act;
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13. Persons licensed pursuant to the Student Loan
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| Servicing Act when engaged in activity authorized under that Act;
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14. Persons licensed pursuant to the Consumer
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| Installment Loan Act when engaged in collection of loans that they originated under that Act;
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15. Persons engaged in the business of originating
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| loans of money pursuant to the Interest Act when engaged in collecting loans that they originated under that Act;
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16. Motor vehicle retail sellers collecting motor
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| vehicle retail installment contracts originated by the motor vehicle retail seller;
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17. Any person licensed pursuant to the Consumer
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| Legal Funding Act when engaged in activity authorized by that Act;
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18. Any person licensed pursuant to the Pawnbroker
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| Regulation Act of 2023 when engaged in activity authorized by that Act; and
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19. Any person identified by the Department by rule.
(Source: P.A. 104-149, eff. 1-1-26.)
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