{"data":{"id":"us-il/205-ilcs-660-17","jurisdiction":"us-il","citation":"205 ILCS 660/17","heading":"Application of Act.","body":"(a) This Act does not apply to any credit union, bank, banking association, trust company, savings bank, or savings and loan association authorized to do business under the laws of this State, any other state, or of the United States.\n(b) This Act does not apply to a person or entity that, in connection with a securitization, private placement, or similar type of investment transaction, lends against or purchases from an Illinois licensed sales finance agency retail installment contracts, retail charge agreements, or the outstanding balances or any portion of the outstanding balances under those contracts or agreements, provided that the licensed sales finance agency retains the servicing of the agreements or contracts and maintains the records for those agreements and contracts.\n(c) This Act does not apply to a special purpose vehicle. In this subsection, \"special purpose vehicle\" means an entity that, in connection with a securitization, private placement, or similar type of investment transaction, is administered by a State or national bank under a management agreement for the purpose of purchasing, making loans against, or in pools of, receivables, general intangibles, and other financial assets including retail installment contracts, retail charge agreements, or the outstanding balances or any portion of the outstanding balances under those contracts or agreements.","path":["CHAPTER 205 FINANCIAL REGULATION","Sales Finance Agency Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=1202\u0026ChapterID=20\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:29Z","sha256":"0e033c7304e795c6cc12e2f2c549e5b8936f74795266a9fa04a2dd7347ae791a","source_id":"us-il","stale":false,"prev":"us-il/205-ilcs-660-16.5","next":"us-il/205-ilcs-660-18"},"notice":"GroundRules: Original legal text. Not legal advice."}