(205 ILCS 635/Art. II heading) ARTICLE II LICENSING PROCEDURE (205 ILCS 635/2-1) (from Ch. 17, par. 2322-1) Sec. 2-1. Licensee name. (a) No person, partnership, association, corporation, limited liability company, or other entity engaged in the business regulated by this Act shall operate such business under a name other than the real names of […]
(205 ILCS 635/Art. III heading) ARTICLE III OPERATIONS, CAPITALIZATION, INSURANCE (205 ILCS 635/3-1) (from Ch. 17, par. 2323-1) Sec. 3-1. Bonds of licensees. (a) Every licensee, with respect to any person appointed or elected to any position requiring the receipt of payment, management, or use of money belonging to a residential mortgage licensee engaged […]
(205 ILCS 635/Art. IV heading) ARTICLE IV SUPERVISION (205 ILCS 635/4-1) (from Ch. 17, par. 2324-1) Sec. 4-1. Commissioner of Banks and Real Estate; functions, powers, and duties. The functions, powers, and duties of the Commissioner of Banks and Real Estate shall include the following: (a) to issue or refuse to issue any license […]
(205 ILCS 635/Art. V heading) ARTICLE V LENDING PROCEDURES (205 ILCS 635/5-1) (from Ch. 17, par. 2325-1) Sec. 5-1. The Commissioner may promulgate rules with respect to brokering and lending procedures of residential mortgage licensees as necessary to accomplish the purposes of this Act. (Source: P.A. 85-735.) (205 ILCS 635/5-5) Sec. 5-5. (Repealed). […]
(205 ILCS 635/Art. VI heading) ARTICLE VI. ENFORCEMENT POWERS (205 ILCS 635/6-1) (from Ch. 17, par. 2326-1) Sec. 6-1. Powers not exclusive. The powers granted by this Article shall be in addition to all others granted to the Commissioner by this Act. The powers granted by this Article shall not preclude the Commissioner from […]
(205 ILCS 635/Art. VII heading) ARTICLE VII. MORTGAGE LOAN ORIGINATOR LICENSE REQUIRED (Source: P.A. 96-112, eff. 7-31-09.) (205 ILCS 635/7-1) Sec. 7-1. (Repealed). (Source: P.A. 96-112, eff. 7-31-09. Repealed by P.A. 100-1153, eff. 12-19-18.) (205 ILCS 635/7-1A) Sec. 7-1A. Mortgage loan originator license. (a) It is unlawful for any individual to act or […]
