815 ILCS 405/2.15

815 ILCS 405/2.15
in effect
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(815 ILCS 405/2.15) (from Ch. 121 1/2, par. 502.15) Sec. 2.15. "Annual percentage rate" means the nominal annual percentage rate of finance charge determined in accordance with the actuarial method of computation with an accuracy at least to the nearest 1/4 of 1%; or at the option of the seller, by application of the United States rule so that it may be disclosed with an accuracy at least to the nearest 1/4 of 1%. (Source: P.A. 76-1780.)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.ilga.gov/legislation/ilcs/ilcs.aspFetched: 10/17/2026

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