Illinois Subsequent Receivables. (a) LBAC does not own a substantial interest in the business of a Dealer within the meaning of Illinois Sales Finance Agency Act Rules and Regulations, Section 160.230(l) and (b) with respect to each Subsequent Receivable originated in the State of Illinois, (i) the printed or typed portion of the related Form of Subsequent Receivable complies with the requirements of 815 ILCS 375/3(b) and (ii) LBAC has not, and for so long as such Subsequent Receivable is outstanding shall not, place or cause to be placed on the related Financed Vehicle any collateral protection insurance in violation of 815 ILCS 180/10.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Long Beach Acceptance Corp), Sale and Servicing Agreement (Long Beach Holdings Corp), Pooling and Servicing Agreement (Long Beach Holdings Corp)
