Ill. Admin. Code tit. 35 § 663.670

Current through Register Vol. 49, No. 2, January 10, 2025
Section 663.670 - Covenant Against Contingent Fees

The loan recipient shall warrant that no person or agency has been employed or retained to solicit or secure a PWSLP loan upon an agreement or understanding for a commission, percentage, brokerage, or contingent fee. For breach or violation of this warranty, the Agency shall have the right to annul the loan in accordance with Section 663.520 or to deduct from the loan, or otherwise recover, the full amount of the commission, percentage, brokerage, or contingent fee.

Ill. Admin. Code tit. 35, § 663.670

Added at 48 Ill. Reg. 2088, effective 1/26/2024