Illinois Compiled Statutes 815 ILCS 636/10.15 – Average periodic lease charge
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Terms Used In Illinois Compiled Statutes 815 ILCS 636/10.15
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
The lease charge for the scheduled term of the consumer lease divided by the number of payment periods or, for a single payment lease, divided by the number of months in the term of the lease.