093_HB1976eng

 
HB1976 Engrossed                     LRB093 08927 JLS 09159 b

 1        AN ACT concerning transmitters of money.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Transmitters of Money Act is  amended  by
 5    changing Section 10 as follows:

 6        (205 ILCS 657/10)
 7        Sec.  10.  License  required.  A No person may not engage
 8    in this State in the business of selling or  issuing  payment
 9    instruments,   transmitting   money,   or   exchanging,   for
10    compensation,  payment  instruments  or  money  of the United
11    States government or a foreign government to or from money of
12    another government without first obtaining  a  license  under
13    this  Act.  Separate licenses shall not be required, however,
14    for persons acting as authorized sellers of  licensees  under
15    this Act.
16    (Source: P.A. 88-643, eff. 1-1-95.)