Illinois § 15-85
Full text of Illinois Illinois Compiled Statutes § 15-85, with citation guidance and answers to common questions.
§ 15-85.
Fraudulent and prohibited acts. (a) A loan broker shall not, in connection with a contract for the services of a loan broker, either directly or indirectly, do any of the following: (1) Employ any device, scheme or article to defraud. (2) Make any untrue statements of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of circumstances under which they are made, not misleading. (3) Engage in any act, practice or course of business that operates or would operate as a fraud or deceit upon any person. (b) A loan broker shall not either directly or indirectly do any of the following: (1) act as a loan broker without registration under this Act unless exempt under the Act; (2) fail to file with the Secretary of State any application, report, document, or answer required to be filed under the provisions of this Act or any rule made by the Secretary of State pursuant to this Act, or fail to comply with the terms of any order issued pursuant to this Act or any rules made by the Secretary of State; (3) fail to keep or maintain any records as required under the provisions of this Act or any rule made by the Secretary of State pursuant to this Act. (Source: P.A. 92-308, eff. 1-1-02.)
Frequently Asked Questions About Illinois § 15-85
What does Illinois Compiled Statutes § 15-85 cover?
Section 15-85 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 § 15-85?
A common citation format is "Illinois Compiled Statutes § 15-85" (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 § 15-85 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.