Exemption for Loan Broker Agreements or Contracts from the Business Brokers Act of 1995

Section 140 Section 140.810 Exemption for Loan Broker Agreements or Contracts from the Business Brokers Act of 1995 A loan broker agreement or contract, made pursuant to and in compliance with the Illinois Loan Brokers Act of 1995 [815 ILCS 175] between a client and a registered loan broker, which contains a promise by, or obligation of, a loan broker to procure or assist in procuring a loan for business financing or the purchase of a business for the client, is exempt from this Act.