(a) General effectiveness. Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (b) Applicable consumer laws and other law. A transaction subject to this Article is subject to any applicable rule of law, statute, or regulation which establishes a different rule for consumers, including, without limitation: (1) the Retail Installment Sales Act; (2) the Motor Vehicle Retail Installment Sales Act; (3) Article II of Chapter 3 of the Illinois Vehicle Code; (4) Article IIIB of the Boat Registration and Safety Act; (5) the Pawnbroker Regulation Act of 2023; (6) the Motor Vehicle Leasing Act; (7) the Consumer Installment Loan Act; (8) the Consumer Deposit Security Act of 1987; (9) the Predatory Loan Prevention Act; (10) the Consumer Fraud and Deceptive Business Practices Act; (11) any other statute or regulation that regulates the rates, charges, agreements, and practices for loans, credit sales, or other extensions of credit; and (12) any consumer protection statute or regulation. (c) Other applicable law controls. In case of conflict between this Article and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a rule of law, statute, or regulation described in subsection (b) has only the effect such rule of law, statute, or regulation specifies. (d) Further deference to other applicable law. This Article does not: (1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b); or (2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it. Code; Act; Practices Act; the rates, charges, agreements, and practices for loans, credit sales, or other extensions of credit; and that violates a rule of law, statute, or regulation described in subsection (b); or statute, or regulation to a transaction not otherwise subject to it.
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