815 ILCS 130/ Revolving Charge Billing Act.

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815 ILCS 130/0.01

(815 ILCS 130/0.01) (from Ch. 17, par. 5100)

Sec. 0.01.

Short title.

This Act may be cited as the

Revolving Charge Billing Act.

(Source: P.A. 86-1324.)

815 ILCS 130/1

(815 ILCS 130/1) (from Ch. 17, par. 5101)

Sec. 1.

Any bill, memorandum or other statement of account sent to a retail
customer who has made a purchase under a revolving charge account where the
consideration may be paid either in gross or in a series of monthly
installments must set out side by side and with equal prominence both the
amount of the total balance owing on the account as well as the amount of
the monthly payment due on the account, the annual percentage rate of the
total finance charge, interest charge and other charges; and the date by
which, or the period (if any) within which, payment must be made in order
to avoid additional interest charges or other charges.

(Source: P.A. 76-1776.)

815 ILCS 130/2

(815 ILCS 130/2) (from Ch. 17, par. 5102)

Sec. 2.

If a bill, memorandum or other statement of account does not comply
with Section 1, no interest, service charge, carrying charge or any
amount other than the cash price, or balance thereof, for the goods or
services giving rise to the account may be charged to or collected from the
customer.

(Source: Laws 1967, p. 2173.)