Illinois § 17.5
Full text of Illinois Illinois Compiled Statutes § 17.5, with citation guidance and answers to common questions.
§ 17.5.
Consumer reporting service. (a) For the purpose of this Section, "certified database" means the consumer reporting service database established pursuant to the Payday Loan Reform Act. "Title-secured loan" means a loan in which, at commencement, a consumer provides to the licensee, as security for the loan, physical possession of the consumer's title to a motor vehicle. (b) Licensees shall enter information regarding each loan into the certified database and shall follow the Department's related rules. (c) For every title-secured loan made, the licensee shall input information as provided in 38 Ill. Adm. Code 110.420. (d) The certified database provider shall indemnify the licensee against all claims and actions arising from illegal or willful or wanton acts on the part of the certified database provider. The certified database provider may charge a fee not to exceed $1 for each loan entered into the certified database. The database provider shall not charge any additional fees or charges to the licensee. (Source: P.A. 101-658, eff. 3-23-21.)
Frequently Asked Questions About Illinois § 17.5
What does Illinois Compiled Statutes § 17.5 cover?
Section 17.5 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 § 17.5?
A common citation format is "Illinois Compiled Statutes § 17.5" (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 § 17.5 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.