Illinois § 4-101
Full text of Illinois Illinois Compiled Statutes § 4-101, with citation guidance and answers to common questions.
§ 4-101.
Definitions. The following definitions are applicable strictly in the context of this Article: (A) Credit Card. "Credit card" has the meaning set forth in Section 17-0.5 of the Criminal Code of 2012. (B) Financial Institution. "Financial institution" means any bank, credit union, insurance company, mortgage banking company or savings and loan association which operates or has a place of business in this State. (C) Loan. "Loan" includes, but is not limited to, the providing of funds, for consideration, which are sought for: (1) the purpose of purchasing, constructing, improving, repairing, or maintaining a housing accommodation as that term is defined in paragraph (C) of Section 3-101; or (2) any commercial or industrial purposes. (D) Varying Terms. "Varying the terms of a loan" includes, but is not limited to, the following practices: (1) Requiring a greater down payment than is usual for the particular type of a loan involved. (2) Requiring a shorter period of amortization than is usual for the particular type of loan involved. (3) Charging a higher interest rate than is usual for the particular type of loan involved. (4) An under appraisal of real estate or other item of property offered as security. (Source: P.A. 96-1551, eff. 7-1-11; 97-1150, eff. 1-25-13.)
Frequently Asked Questions About Illinois § 4-101
What does Illinois Compiled Statutes § 4-101 cover?
Section 4-101 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 § 4-101?
A common citation format is "Illinois Compiled Statutes § 4-101" (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 § 4-101 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.