Illinois Compiled Statutes
815 ILCS 205/5 (2026)
No person or corporation shall directly or indirectly accept or receive, in money, goods, discounts or thing in action, or in any other way, any greater sum or greater value for the loan, forbearance or discount of any money, goods or thing in action, than is expressly authorized by this Act or other laws of this State
✓ current as of May 2026
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(815 ILCS 205/5)
(from Ch. 17, par. 6412)
Sec. 5.
No person or corporation shall directly or indirectly accept or
receive, in money, goods, discounts or thing in action, or in any other
way, any greater sum or greater value for the loan, forbearance or discount
of any money, goods or thing in action, than is expressly authorized by
this Act or other laws of this State.
(Source: P.A. 82-660.)
Notes of Decisions
Cited in 2
cases, 2006–2006 · leading case: Pra III, LLC v. Hund, 846 N.E.2d 965 (Ill. App. Ct. 2006).
Pra III, LLC v. Hund, 846 N.E.2d 965 (Ill. App. Ct. 2006). “Hund relies on section 5 of the Interest Act (815 ILCS 205/5 (West 2002)) for her position that no entity may collect interest without express statutory authorization.”
Pra III, LLC v. Hund (Ill. App. Ct. 2006). “Hund relies on section 5 of the Interest Act (815 ILCS 205/5 (West 2002)) for her position that no entity may collect interest without express statutory authorization.”
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