Illinois § 120
Full text of Illinois Illinois Compiled Statutes § 120, with citation guidance and answers to common questions.
§ 120.
Review and analysis. (a) The Commissioner or Director shall review and analyze the default and foreclosure rate data reports submitted under Section 115. (b) The reports and their analyses may be used for the following purposes: (1) In setting the scope of a regularly scheduled examination. (2) In setting the scope of a special examination. (3) In comparing the reported information of a servicer. (c) The Commissioner or the Director may correspond with a servicer to seek clarification of information contained in its report and to gather additional data concerning loans in default or loans in foreclosure. (Source: P.A. 93-561, eff. 1-1-04.)
Frequently Asked Questions About Illinois § 120
What does Illinois Compiled Statutes § 120 cover?
Section 120 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 120?
A common citation format is "Illinois Compiled Statutes § 120" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 120 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.