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To learn more about Hennessy & Roach services,
reach us at:
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Chicago, IL 60603
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CHAPTER 815
BUSINESS TRANSACTIONS
Unsolicited Credit Card Act of 1977.
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(815 ILCS 150/1) (from Ch. 17,
par. 6201)
Sec. 1. This Act may be cited as
the Unsolicited Credit Card Act of 1977.
(Source: P.A. 86-1475.)
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(815 ILCS 150/2) (from Ch. 17,
par. 6202)
Sec. 2. As used in this Act, the
following words have the meaning ascribed to them in this Section:
"Financial institution" means
any bank, insurance company, credit union, savings and loan association,
investment trust or other depository of money or medium of savings
or collective investment.
"Credit card" means any
instrument or device, whether known as a credit card, credit
plate, charge plate or any other name, issued with or without
fee by an issuer for the use of the cardholder in obtaining money,
goods, services or anything else of value on credit or in consideration
of an undertaking or guaranty by the issuer of the payment of
a check drawn by the cardholder. Automated cards, issued by financial
institutions to and for the use of only the customers of such
financial institutions, to be used in conjunction with or without
computer facilities to allow such customers to make deposits
and withdrawals to or from checking or savings accounts, cash
checks, pay loan installments and utility bills or transfer funds
between various accounts shall not be considered credit cards
for the purposes of this Act provided they do not permit cash
loan advances or by agreement permit overdraft checking services.
(Source: P.A. 81-1509.)
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(815 ILCS 150/3) (from Ch. 17,
par. 6203)
Sec. 3. No financial institution
or other person or corporation doing business in this State
shall issue any person a credit card, regardless of whether
such credit card is to be used for personal, family, household,
agricultural, business or commercial purposes, except (1) in
response to a request or application therefor; or (2) as a renewal of, or in substitution for,
an accepted credit card whether such card is issued by the
same or a successor card issuer.
(Source: P.A. 80-531.)
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(815 ILCS 150/4) (from Ch. 17,
par. 6204)
Sec. 4. Any person, corporation
or financial institution who violates
the provisions of this Act shall be guilty of a business offense,
and may be fined an amount not to exceed $500.
(Source: P.A. 80-531.)
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(815 ILCS 150/5) (from Ch. 17,
par. 6205)
Sec. 5. Nothing in this Act shall
in any way alter or diminish the liabilities of credit card
issuers as heretofore existent under the laws of the United
States or
the State of Illinois.
(Source: P.A. 80-531.)
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