Section 1019.20  Denial of Application for Remittance Agent's License

a)         Pursuant to IVC Section 3-906, the Department shall deny an application for remittance agent's licenses under the circumstances outlined in IVC Section 3-906.  If a person's application is denied, he/she shall be sent his/her application and a notice of the denial by certified mail within 30 days after the date the application was submitted.  The notice shall contain the reason for the denial and inform the applicant of his opportunity to request an administrative hearing to contest the denial pursuant to 92 Ill. Adm. Code 1001.

b)         Renewal of a remittance agent's license shall be denied if upon investigation it is discovered that the remittance agent is not financially sound and/or of good business integrity or is otherwise ineligible for a license as provided in IVC Section 3-906.  Auditors from the Department of Accounting Revenue within the Office of the Secretary of State shall conduct yearly inspections which includes but are not limited to examination of the temporary permits and the bond amounts.  The auditors shall also be authorized by the Department to inspect the remittance agent's business records and to report any irregularities (e.g., failure to keep records as required by IVC Section 3-910) to the Department.  Any further investigation shall be conducted by the Department of Police within the Office of the Secretary of State.

c)         The Department shall consider written complaints (i.e., from family, friends, neighbors, business associates, customers, other agencies, and the auditors from the Department of Accounting Revenue or Department of Police) in denying a remittance agent's license.  Upon receipt of a complaint, the Secretary of State police shall investigate the matter.  If, upon this investigation, it is discovered that a basis for denial exists pursuant to IVC Section 3-906, the remittance agent's current license shall be suspended or revoked as provided in Section 1019.30 if he/she is currently licensed as a remittance agent.

(Source:  Amended at 43 Ill. Reg. 6231, effective May 9, 2019)