{"data":{"id":"us-il/205-ilcs-660-2","jurisdiction":"us-il","citation":"205 ILCS 660/2","heading":"Definitions.","body":"In this Act, unless the context otherwise requires:\n\"Department\" means the Department of Financial and Professional Regulation.\n\"Holder\" of a retail installment contract or a retail charge agreement means the retail seller of the goods or services under the contract or charge agreement, or if the outstanding balances thereunder are purchased by or transferred as security to a sales finance agency or other assignee, the sales finance agency or other assignee.\n\"Motor Vehicle Retail Installment Sales Act\" and \"Retail Installment Sales Act\" refer to the Acts having those titles enacted by the 75th General Assembly.\n\"Person\" means an individual, corporation, partnership, limited liability company, joint venture, or any other form of business association.\n\"Retail installment contract\" and \"retail charge agreement\" have the meanings ascribed to them in the Motor Vehicle Retail Installment Sales Act and the Retail Installment Sales Act.\n\"Sales finance agency\" means a person, irrespective of the person's state of domicile or place of business, engaged in this State, in whole or in part, in the business of purchasing or making loans secured by retail installment contracts, retail charge agreements, or the outstanding balances under such contracts or agreements entered into in this State.\n\"Secretary\" means the Secretary of Financial and Professional Regulation or the Secretary's designee. The Director of the Division of Financial Institutions of the Department of Financial and Professional Regulation is a designee of the Secretary under this Act.\n\"Net worth\" means total assets minus total liabilities.","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":"7a9a4ac72937192ede0f1600a14a5e3de567866808b37431e7dcf88a231372db","source_id":"us-il","stale":false,"prev":"us-il/205-ilcs-660-1","next":"us-il/205-ilcs-660-3"},"notice":"GroundRules: Original legal text. Not legal advice."}