765 ILCS 67/60

(765 ILCS 67/60)

Sec. 60. Prepayment penalties prohibited. The seller may not charge or collect a prepayment penalty or any similar fee or finance charge if the buyer elects to pay the outstanding principal balance of the purchase price under the contract before the scheduled payment date under the contract.

(Source: P.A. 100-416, eff. 1-1-18.)