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815 ILCS 123/15-1-10

    (815 ILCS 123/15-1-10)
    Sec. 15-1-10. Definitions. As used in this Act:
    "Consumer" means any natural person, including consumers acting jointly.
    "Department" means the Department of Financial and Professional Regulation.
    "Lender" means any person or entity, including any affiliate or subsidiary of a lender, that offers or makes a loan, buys a whole or partial interest in a loan, arranges a loan for a third party, or acts as an agent for a third party in making a loan, regardless of whether approval, acceptance, or ratification by the third party is necessary to create a legal obligation for the third party, and includes any other person or entity if the Department determines that the person or entity is engaged in a transaction that is in substance a disguised loan or a subterfuge for the purpose of avoiding this Act.
    "Person" means any natural person.
    "Secretary" means the Secretary of Financial and Professional Regulation or a person authorized by the Secretary.
    "Loan" means money or credit provided to a consumer in exchange for the consumer's agreement to a certain set of terms, including, but not limited to, any finance charges, interest, or other conditions. "Loan" includes closed-end and open-end credit, retail installment sales contracts, motor vehicle retail installment sales contracts, and any transaction conducted via any medium whatsoever, including, but not limited to, paper, facsimile, Internet, or telephone. "Loan" does not include a commercial loan.
(Source: P.A. 101-658, eff. 3-23-21.)