Section 1210.10  Definitions

The following definitions shall apply to this Part:

"Act" means the Collection Agency Act [225 ILCS 425].

"Agency" means a collection agency as defined in Section 2.02 of the Act.

"Board" means the Collection Agency Licensing and Disciplinary Board.

"Branch Office" means another location with the same name and ownership as the main collection agency license.

"Creditor" means individual, sole proprietorship, partnership or corporation that engages or retains the agency to collect debts due the individual, sole proprietorship, partnership or corporation.

"Department" means the Department of Financial and Professional Regulation.

"Director" means Director of the Division of Professional Regulation with the authority delegated by the Secretary.

"Division" means the Department of Financial and Professional Regulation-Division of Professional Regulation.

"Managerial or Administrative Control" means having authority to conduct the affairs of the agency and direct others in the conduct of the affairs or business of the agency.

"Secretary" means the Secretary of the Department of Financial and Professional Regulation.

"Trust Account" means the special account that all licensed collection agencies shall maintain in accordance with Section 8c of the Act.

(Source:  Amended at 35 Ill. Reg. 12872, effective July 20, 2011)