# 38 Ill. Adm. Code 110.2: Section 110.2 Rate Cap Disclosure Notices

> Illinois · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_2

## Section

- **Citation:** 38 Ill. Adm. Code 110.2
- **Heading:** Section 110.2 Rate Cap Disclosure Notices
- **Jurisdiction:** Illinois
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Illinois Administrative Code / Title 38 FINANCIAL INSTITUTIONS / CHAPTER I: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION / Part 110 CONSUMER INSTALLMENT LOAN ACT / Section 110.2 Rate Cap Disclosure Notices

## Text

Section 110.2  Rate Cap Disclosure Notices
All loan contracts or agreements must include a separate
disclosure signed by the consumer that states:  "A lender shall not
contract for or receive charges exceeding a 36% annual percentage rate on the
unpaid balance of the amount financed for a loan, as calculated under the Illinois
Predatory Loan Prevention Act (PLPA APR).  Any loan with a PLPA APR over 36% is
null and void, such that no person or entity shall have any right to collect,
attempt to collect, receive, or retain any principal, fee, interest, or charges
related to the loan.  The annual percentage rate disclosed in any loan contract
may be lower than the PLPA APR."  This disclosure shall be clear and
conspicuous and shall be substantially similar to the form in Appendix C.  A
lender shall provide all disclosures required by this section in English and in
the same language as the loan agreement.

## Nearby sections

- [38 Ill. Adm. Code 110.1 Section 110.1  Definitions](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_1.md)
- [38 Ill. Adm. Code 110.2 Section 110.2  Rate Cap Disclosure Notices](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_2.md)
- [38 Ill. Adm. Code 110.5 Section 110.5  Applicability](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_5.md)
- [38 Ill. Adm. Code 110.10 Section 110.10  Record Keeping](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_10.md)
- [38 Ill. Adm. Code 110.15 Section 110.15  Application for License; Controlling Person](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_15.md)
- [38 Ill. Adm. Code 110.16 Section 110.16  Positive Net Worth](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_16.md)
- [38 Ill. Adm. Code 110.20 Section 110.20  Loan Register](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_20.md)
- [38 Ill. Adm. Code 110.30 Section 110.30  Individual Account Records](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_30.md)
- [38 Ill. Adm. Code 110.40 Section 110.40  File of Original Papers](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_40.md)
- [38 Ill. Adm. Code 110.50 Section 110.50  Cash Book](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_50.md)
- [38 Ill. Adm. Code 110.60 Section 110.60  Alphabetical Record of Co-Makers, Obligors or Guarantors](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_60.md)
- [38 Ill. Adm. Code 110.65 Section 110.65  Permanent File](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_65.md)
- [38 Ill. Adm. Code 110.70 Section 110.70  Payments](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_70.md)
- [38 Ill. Adm. Code 110.80 Section 110.80  Interest-Bearing Loans](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_80.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_2. Check the current official text before relying on it. Not legal advice.