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(205 ILCS 616/30)
Acceptance of deposits.
(A) No terminal that accepts deposits of
funds to an
account may be established or owned in this State except by (a) a bank
the laws of this or any other state or established under the laws of the United
States that (1) is authorized by law to establish a
branch in this State or (2) is permitted by rule of the Commissioner to
establish deposit-taking terminals in this State in order to maintain
parity between national banks and banks
established under the laws of this or any other state, (b) a savings and loan
association or savings bank established under the laws of this or any other
state or established under the laws of the United States, (c) a credit union
established under the laws of this or any other state or established under the
laws of the United States, or (d) a licensee under the Consumer Installment
Act or the Sales Finance Agency Act.
(B) A person other than a financial institution or an affiliate of a
financial institution may establish or own, in whole or in part, a
cash-dispensing terminal at
which an interchange transaction may be performed, provided that the terminal
does not accept deposits of funds to an account, and provided that the person
establishing or owning the terminal must post a telephone number on the terminal for consumers to
call to report problems, along with the Department's telephone number.
The Commissioner or examiners appointed by the Commissioner shall have the
authority to examine any person that has established or owns a terminal in this
State pursuant to this subsection (B) if the Commissioner has received multiple
complaints regarding one or more terminals owned by the person, and in the
event of such an examination, the person shall pay the reasonable costs and
expenses of the examination as determined by the Commissioner. The
Commissioner may impose civil penalties of up to $1,000 against any person
subject to this subsection (B) for
the first failure to comply with this Act and up to $10,000 for the second and
each subsequent failure to comply with this Act. All moneys received by the
Commissioner under this subsection (B) shall be paid into, and all expenses
incurred by the Commissioner under this subsection (B) shall be paid from, the
Bank and Trust Company Fund.
(C) A network operating in this
State shall maintain a directory of the locations of cash-dispensing terminals
at which an interchange transaction may be performed that are established or
this State by its members and shall file the directory with the Commissioner
within 60 days after the effective date of this amendatory Act of 1997 and
thereafter once per calendar year.
(Source: P.A. 100-5, eff. 6-30-17.)