Statutes, codes, and regulations
Illinois Compiled Statutes
BUSINESS AND EMPLOYMENTChapter 815 - BUSINESS TRANSACTIONSSubchapter - CONTRACTS
Act 636 - MOTOR VEHICLE LEASING ACT
Section 815 ILCS 636/10.10 - Average periodic depreciation

815 ILCS 636/10.10

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Current through Public Act 103-1052
Section 815 ILCS 636/10.10 - Average periodic depreciation

The difference between the adjusted capitalized cost and the residual value divided by the number of payment periods in the consumer lease, or, for a single payment lease, divided by the number of months in the term of the lease.

815 ILCS 636/10.10

P.A. 89-625, eff. 1/1/1997.