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Current as of January 01, 2022 | Updated by FindLaw Staff
§ 2.03. Exemptions. This Act does not apply to persons whose collection activities are confined to and are directly related to the operation of a business other than that of a collection agency, and specifically does not include the following:
1. Banks, including trust departments, affiliates, and subsidiaries thereof, fiduciaries, and financing and lending institutions (except those who own or operate collection agencies);
2. Abstract companies doing an escrow business;
3. Real estate brokers when acting in the pursuit of their profession;
4. Public officers and judicial officers acting under order of a court;
5. Licensed attorneys at law;
6. Insurance companies;
7. Credit unions, including affiliates and subsidiaries thereof (except those who own or operate collection agencies);
8. Loan and finance companies, including entities licensed pursuant to the Residential Mortgage License Act of 1987;
9. Retail stores collecting their own accounts;
10. Unit Owner's Associations established under the Condominium Property Act, 1 and their duly authorized agents, when collecting assessments from unit owners; and
11. Any person or business under contract with a creditor to notify the creditor's debtors of a debt using only the creditor's name.
Cite this article: FindLaw.com - Illinois Statutes Chapter 225. Professions,Occupations and Business Operations § 425/2.03. Exemptions - last updated January 01, 2022 | https://codes.findlaw.com/il/chapter-225-professionsoccupations-and-business-operations/il-st-sect-225-425-2-03/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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