Ill. Admin. Code tit. 38, § 150.20 - Officer
a) If the
collection agency is an association or a sole proprietorship, the owner of the
agency or any person exercising managerial control shall be considered an
officer.
b) If the collection
agency is a partnership, any partner who has at least 10% ownership interest or
any partner who exercises managerial control shall be considered an
officer.
c) If the collection
agency is a corporation, any officer of the corporation or director or any
person who has at least 10% direct or indirect ownership interest in such
corporation or who exercises managerial control shall be considered an
officer.
d) If the collection
agency is a limited liability company, any manager of the limited liability
company or any person who has at least 10% direct or indirect ownership
interest in such limited liability company shall be considered an
officer.
Notes
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