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1 | | Commercial Code, that the recipient does not intend to use for |
2 | | personal, family, or household purposes. "Closed-end |
3 | | financing" includes financing with an established principal |
4 | | amount and duration. |
5 | | "Commercial financing database" means a reporting database |
6 | | certified by the Department as effective in receiving a report |
7 | | of commercial financing made under this Act. |
8 | | "Commercial financing database provider" means an entity |
9 | | that provides a reporting database certified by the Department |
10 | | under this Act. |
11 | | "Commercial financing" means open-end financing, |
12 | | closed-end financing, sales-based financing, factoring |
13 | | transaction, or other form of financing, the proceeds of which |
14 | | the recipient does not intend to use primarily for personal, |
15 | | family, or household purposes. For purposes of determining |
16 | | whether a financing is a commercial financing, the provider |
17 | | may rely on any statement of intended purposes by the |
18 | | recipient. The statement may be a separate statement signed by |
19 | | the recipient; may be contained in the financing application, |
20 | | financing agreement, or other document signed or consented to |
21 | | by the recipient; or may be provided orally by the recipient so |
22 | | long as it is documented in the recipient's application file |
23 | | by the provider. Electronic signatures and consents are valid |
24 | | for purposes of the foregoing sentence. The provider shall not |
25 | | be required to ascertain that the proceeds of a commercial |
26 | | financing are used in accordance with the recipient's |
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1 | | statement of intended purposes. |
2 | | "Department" means the Department of Financial and |
3 | | Professional Regulation. |
4 | | "Division of Financial Institutions" or "Division" means |
5 | | the Division of Financial Institutions of the Department of |
6 | | Financial and Professional Regulation. |
7 | | "Factoring transaction" means an accounts receivable |
8 | | purchase transaction that includes an agreement to purchase, |
9 | | transfer, or sell a legally enforceable claim for payment held |
10 | | by a recipient for goods the recipient has supplied or |
11 | | services the recipient has rendered that have been ordered but |
12 | | for which payment has not yet been made. |
13 | | "Finance charge" means the cost of financing as a dollar |
14 | | amount. "Finance charge" includes any charge payable directly |
15 | | or indirectly by the recipient and imposed directly or |
16 | | indirectly by the provider as an incident to or a condition of |
17 | | the extension of financing. "Finance charge" includes any |
18 | | charges as determined by the Secretary. For the purposes of an |
19 | | open-end financing, "finance charge" means the maximum amount |
20 | | of credit available to the recipient, in each case, that is |
21 | | drawn and held for the duration of the term or draw period. For |
22 | | the purposes of a factoring transaction, "finance charge" |
23 | | includes the discount taken on the face value of the accounts |
24 | | receivable. In addition, the finance charge shall include any |
25 | | charges determined by the Secretary. |
26 | | "Open-end financing" means an agreement for one or more |
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1 | | extensions of open-end credit, secured or unsecured, that the |
2 | | recipient does not intend to use the proceeds of primarily for |
3 | | personal, family, or household purposes. "Open-end financing" |
4 | | includes credit extended by a provider under a plan in which: |
5 | | (i) the provider reasonably contemplates repeated |
6 | | transactions; (ii) the provider may impose a finance charge |
7 | | from time to time on an outstanding unpaid balance; and (iii) |
8 | | the amount of credit that may be extended to the recipient |
9 | | during the term of the plan is generally made available to the |
10 | | extent that any outstanding balance is repaid. |
11 | | "Person" means an individual, entity, corporation, |
12 | | partnership, limited liability company, joint venture, |
13 | | association, joint stock company, trust, or unincorporated |
14 | | organization, including, but not limited to, a sole |
15 | | proprietorship. |
16 | | "Provider" means a person who extends a specific offer of |
17 | | commercial financing to a recipient. "Provider", unless |
18 | | otherwise exempt, includes a person who solicits and presents |
19 | | specific offers of commercial financing on behalf of a third |
20 | | party. The mere extension of a specific offer or provision of |
21 | | disclosures for a commercial financing, is not sufficient to |
22 | | conclude that a provider is originating, making, funding, or |
23 | | providing commercial financing. "Provider" does not include: |
24 | | (1) a bank, trust company, or industrial loan company, |
25 | | or any subsidiary or affiliate thereof, doing business |
26 | | under the authority of, or in accordance with, a license, |
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1 | | certificate or charter issued by the United States, this |
2 | | State, or any other state, district, territory, or |
3 | | commonwealth of the United States that is authorized to |
4 | | transact business in this State; |
5 | | (2) a federally chartered savings and loan |
6 | | association, federal savings bank, or federal credit |
7 | | union, or any subsidiary or affiliate thereof, that is |
8 | | authorized to transact business in this State; |
9 | | (3) a savings and loan association, savings bank, or |
10 | | credit union, or any subsidiary or affiliate thereof, |
11 | | organized under the laws of this State or any other state |
12 | | that is authorized to transact business in this State; |
13 | | (4) a lender regulated under the federal Farm Credit |
14 | | Act; and |
15 | | (5) a person acting as a technology services provider |
16 | | to an entity described by sub-paragraphs (1), (2), or (3) |
17 | | for use as part of that entity's commercial financing |
18 | | program, provided the person has no interest, or |
19 | | arrangement, or agreement to purchase any interest in the |
20 | | commercial financing extended by the entity in connection |
21 | | with the program. |
22 | | "Recipient" means a person who applies for commercial |
23 | | financing and is made a specific offer of commercial financing |
24 | | by a provider. "Recipient" includes an authorized |
25 | | representative of a person who applies for commercial |
26 | | financing and is made a specific offer of commercial financing |
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1 | | by a provider. "Recipient" does not include a person acting as |
2 | | a broker is not a recipient in a transaction they broker. |
3 | | "Sales-based financing" means a transaction that is repaid |
4 | | by the recipient to the provider, over time, as a percentage of |
5 | | sales or revenue, in which the payment amount may increase or |
6 | | decrease according to the volume of sales made or revenue |
7 | | received by the recipient or a transaction that includes a |
8 | | true-up mechanism where the financing is repaid as a fixed |
9 | | payment but provides for a reconciliation process that adjusts |
10 | | the payment to an amount that is a percentage of sales or |
11 | | revenue. |
12 | | "Secretary" means the Secretary of Financial and |
13 | | Professional Regulation or a person authorized by the |
14 | | Secretary to perform the Secretary's responsibilities under |
15 | | this Act. |
16 | | "Specific offer" means the specific terms of commercial |
17 | | financing, including price or amount, that is quoted to a |
18 | | recipient based on information obtained from or about the |
19 | | recipient that, if accepted by a recipient, shall be binding |
20 | | on the provider, as applicable, subject to any specific |
21 | | requirements stated in the specific terms. |
22 | | Section 10. Applicability. |
23 | | (a) Except as otherwise provided in this Section, this Act |
24 | | applies to any person that offers or provides commercial |
25 | | financing in Illinois or is otherwise a provider. |
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1 | | (b) The provisions of this Act apply to any person that |
2 | | seeks to evade its applicability by any device, subterfuge, or |
3 | | pretense whatsoever. |
4 | | (c) The provisions of this Act apply to any person that |
5 | | aids or facilitates a violation of this Act. |
6 | | (d) The provisions of this Act do not apply to: |
7 | | (1) a bank, trust company, or industrial loan company |
8 | | doing business under the authority of, or in accordance |
9 | | with, a license, certificate or charter issued by the |
10 | | United States, this State, or any other state, district, |
11 | | territory, or commonwealth of the United States that is |
12 | | authorized to transact business in this State; |
13 | | (2) a federally chartered savings and loan |
14 | | association, federal savings bank, or federal credit union |
15 | | that is authorized to transact business in this State; |
16 | | (3) a savings and loan association, savings bank, or |
17 | | credit union organized under the laws of this State or any |
18 | | other state that is authorized to transact business in |
19 | | this State; |
20 | | (4) a lender regulated under the federal Farm Credit |
21 | | Act; and |
22 | | (5) a person acting in the person's capacity as a |
23 | | technology services provider to an entity described by |
24 | | sub-paragraphs (1), (2), or (3) for use as part of that |
25 | | entity's commercial financing program, provided the person |
26 | | has no interest, or arrangement, or agreement to purchase |
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1 | | any interest in the commercial financing extended by the |
2 | | entity in connection with the program. |
3 | | Section 15. Division of Financial Institutions. This Act |
4 | | shall be administered by the Division on behalf of the |
5 | | Secretary. |
6 | | Section 20. Licensure requirement. No person shall engage |
7 | | in the conduct regulated by this Act without licensure under |
8 | | this Act. Any Person who provides commercial financing without |
9 | | the license required by this Act is guilty of a Class 4 felony. |
10 | | The Secretary shall be empowered to investigate any person |
11 | | they believe may require licensure under this Act including, |
12 | | but not limited to, compelling production of testimony, books, |
13 | | records, or any other information necessary for the Secretary |
14 | | to determine whether the Person requires licensure. |
15 | | Section 25. Licensee name. No person providing commercial |
16 | | financing may operate the business under a name other than the |
17 | | real names of the entity and individuals conducting the |
18 | | business. The business may operate under an assumed corporate |
19 | | name under the Business Corporation Act of 1983, an assumed |
20 | | limited liability company name under the Limited Liability |
21 | | Company Act, or an assumed business name under the Assumed |
22 | | Business Name Act with written authorization from the |
23 | | Secretary. Each licensee shall update its name with the |
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1 | | Department within 10 days after the change of name. |
2 | | Section 30. Application process; investigation; fees. |
3 | | (a) The Secretary may issue a license to a person after the |
4 | | person completes all of the following: |
5 | | (1) the filing of an application for license with the |
6 | | Secretary or a multistate licensing system as approved by |
7 | | the Secretary; |
8 | | (2) the filing with the Secretary or a multistate |
9 | | licensing system as approved by the Secretary of a listing |
10 | | of judgments entered against, and bankruptcy petitions by, |
11 | | the applicant for the preceding 10 years; |
12 | | (3) the payment, in certified funds, of investigation |
13 | | and application fees, the total of which shall be in an |
14 | | amount equal to $2,500; and |
15 | | (4) the filing of an audited balance sheet, including |
16 | | all footnotes prepared by a certified public accountant in |
17 | | accordance with generally accepted accounting principles |
18 | | and generally accepted auditing standards; notwithstanding |
19 | | the requirements of this paragraph, an applicant that is a |
20 | | subsidiary may submit audited consolidated financial |
21 | | statements of its parent, intermediary parent, or ultimate |
22 | | parent as long as the consolidated statements are |
23 | | supported by consolidating statements that include the |
24 | | applicant's financial statement; if the consolidating |
25 | | statements are unaudited, the applicant's chief financial |
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1 | | officer shall attest to the applicant's financial |
2 | | statements disclosed in the consolidating statements. |
3 | | (b) The Secretary may, for good cause shown, waive or |
4 | | modify the requirements of subsection (a). |
5 | | (c) Upon receipt of the license, a licensee is authorized |
6 | | to engage in conduct regulated by this Act. The license shall |
7 | | remain in full force and effect until it expires, is |
8 | | surrendered by the licensee, or is revoked or suspended as |
9 | | provided in this Act. |
10 | | (d) The Secretary may impose conditions on a license if |
11 | | the Secretary determines that those conditions are necessary |
12 | | or appropriate. These conditions shall be imposed in writing |
13 | | and shall continue in effect for the period prescribed by the |
14 | | Secretary. |
15 | | Section 35. Application form. |
16 | | (a) Application for a license shall be made in accordance |
17 | | with this Act, and in accordance with requirements of the |
18 | | multistate licensing system, if required by the Secretary. The |
19 | | application shall be in writing, under oath, and on a form |
20 | | obtained from and prescribed by the Secretary. The Secretary |
21 | | may change or update the form to carry out the purposes of this |
22 | | Act. The Secretary may require part or all of the application |
23 | | to be submitted electronically, with attestation, to the |
24 | | multistate licensing system. |
25 | | (b) The application shall contain the name and complete |
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1 | | business and residential address or addresses of the |
2 | | applicant. The application shall also include a description of |
3 | | the activities of the applicant in detail and for the periods |
4 | | as the Secretary may require, including all of the following: |
5 | | (1) an affirmation that the applicant and its members, |
6 | | directors, or principals, as may be appropriate, are at |
7 | | least 18 years of age; |
8 | | (2) information as to the name, complete business |
9 | | address, complete residential address, character, fitness, |
10 | | financial and business responsibility, background, |
11 | | experience, and criminal record of any: |
12 | | (i) person, including an ultimate equitable owner, |
13 | | that directly or indirectly owns or controls 10% or |
14 | | more of any class of stock of the applicant; |
15 | | (ii) person, including an ultimate equitable owner |
16 | | that is not a depository institution, as defined in |
17 | | the Savings Bank Act, that lends, provides, or |
18 | | infuses, directly or indirectly, in any way, funds to |
19 | | or into an applicant in an amount equal to or more than |
20 | | 10% of the applicant's net worth; |
21 | | (iii) person, including an ultimate equitable |
22 | | owner that controls, directly or indirectly, the |
23 | | election of 25% or more of the members of the board of |
24 | | directors of an applicant; |
25 | | (iv) person, including an ultimate equitable owner |
26 | | that the Secretary finds influences the management of |
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1 | | the applicant; |
2 | | (v) director or directors of an applicant; and |
3 | | (vi) principal officers of an applicant; and |
4 | | (3) other information as required by the Secretary to |
5 | | assess whether the applicant and its owners, officers, and |
6 | | directors have the financial responsibility, financial |
7 | | condition, business experience, character, and general |
8 | | fitness to justify the confidence of the public and that |
9 | | the applicant and its owners, officers, and directors are |
10 | | fit, willing, and able to carry on the proposed business |
11 | | in a lawful and fair manner. |
12 | | Section 40. Additional license application information. |
13 | | (a) In order to fulfill the purposes of this Act, the |
14 | | Secretary may establish relationships or contracts with a |
15 | | multistate licensing system or other persons to collect and |
16 | | maintain records and process fees related to licensees or |
17 | | other persons subject to this Act. |
18 | | (b) In connection with an application for licensing, the |
19 | | applicant, owners, officers, and directors of an applicant may |
20 | | be required, at a minimum, to furnish to the Secretary or |
21 | | multistate licensing system information concerning the |
22 | | applicant's, owners', officers' and directors' identity, |
23 | | including personal history and experience in a form prescribed |
24 | | by the Secretary or multistate licensing system, including, |
25 | | but not limited to: |
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1 | | (1) a complete and accurate copy of an independent |
2 | | credit report obtained from a consumer reporting agency |
3 | | described in Section 603(p) of the Fair Credit Reporting |
4 | | Act (15 U.S.C. 1681a(p)); and |
5 | | (2) information related to any administrative, civil, |
6 | | or criminal findings by any governmental jurisdiction. |
7 | | (c) For the purposes of this Section, and to reduce the |
8 | | points of contact that the Secretary may have to maintain, the |
9 | | Secretary may use a multistate licensing system as a |
10 | | channeling agent for requesting and distributing information |
11 | | to and from any source. |
12 | | (d) Each application shall be accompanied by averments as |
13 | | determined by the Secretary to fulfill the purposes of this |
14 | | Act. |
15 | | (e) Each applicant shall furnish to the Secretary or |
16 | | multistate licensing system an updated business address within |
17 | | 10 days after any change of business address. |
18 | | Section 45. Refusal to issue or renew license. The |
19 | | Secretary may refuse to issue or renew a license if: |
20 | | (1) the Secretary determines that the applicant has |
21 | | not complied with a provision of this Act, its |
22 | | implementing rules, or other laws that apply to the |
23 | | applicant; |
24 | | (2) the Secretary determines that there is substantial |
25 | | continuity between the applicant and any violator of this |
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1 | | Act, its implementing rules, or other laws that apply to |
2 | | the applicant or related violator; or |
3 | | (3) the Secretary determines that the applicant or its |
4 | | owners, officers, or directors do not have the financial |
5 | | responsibility, financial condition, business experience, |
6 | | character, and general fitness of to justify the |
7 | | confidence of the public and that the license applicant |
8 | | and its owners, officers, and directors are fit, willing, |
9 | | and able to carry on the proposed business in a lawful and |
10 | | fair manner. |
11 | | Section 50. License issuance and renewal. |
12 | | (a) Licensees shall apply to renew their license every |
13 | | calendar year. Licensees may submit properly completed renewal |
14 | | application forms and filing fees 60 days before the license |
15 | | expiration date and the same shall be received by the |
16 | | Secretary at least 30 days before the license expiration date. |
17 | | (b) Each licensee shall timely renew its license. Absent a |
18 | | written extension from the Department, a license shall expire |
19 | | on December 31 if a licensee fails to timely submit a properly |
20 | | completed renewal application form and fees. |
21 | | (c) No activity regulated by this Act shall be conducted |
22 | | by a licensee whose license has expired. The Secretary may, |
23 | | within the Secretary's discretion, reinstate an expired |
24 | | license upon payment of the renewal fee, payment of a |
25 | | reactivation fee equal to 5 times the renewal fee, submission |
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1 | | of a completed renewal application, and an affidavit of good |
2 | | cause for late renewal. |
3 | | Section 55. Fees. |
4 | | (a) The persons regulated by this Act shall bear the |
5 | | expenses of administering this Act, including investigations |
6 | | and examinations provided for in this Act. The Secretary may |
7 | | establish fees by rule or modify fees in at least the following |
8 | | categories: |
9 | | (1) application and renewal fees; |
10 | | (2) examination and investigation fees; |
11 | | (3) change fees; |
12 | | (4) contingent fees; and |
13 | | (5) other fees as may be required to administer this |
14 | | Act. |
15 | | (b) The Secretary may modify any fees established by this |
16 | | Act by rule one year after the effective date of this Act. |
17 | | Section 60. Functions; powers; duties. The functions, |
18 | | powers, and duties of the Secretary include, but are not |
19 | | limited to, the following: |
20 | | (1) to issue or refuse to issue any license or |
21 | | renewal; |
22 | | (2) to revoke or suspend for cause any license issued |
23 | | under this Act; |
24 | | (3) to keep records of all licenses issued under this |
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1 | | Act; |
2 | | (4) to receive, consider, investigate, and act upon |
3 | | complaints made by any person in connection with any |
4 | | licensee in this State or unlicensed commercial financing |
5 | | activity of any person; |
6 | | (5) to prescribe the forms of and receive: |
7 | | (A) applications for licenses and renewals; and |
8 | | (B) all reports and all books and records required |
9 | | to be made by any licensee under this Act, including |
10 | | annual audited financial statements if required by the |
11 | | Secretary and annual reports of commercial financing |
12 | | activity; |
13 | | (6) to adopt rules necessary and proper for the |
14 | | administration of this Act, to protect consumers, and |
15 | | promote fair competition or otherwise authorized by this |
16 | | Act; |
17 | | (7) to subpoena documents and witnesses and compel |
18 | | their attendance and production, to administer oaths, and |
19 | | to require the production of any books, papers, or other |
20 | | materials relevant to any inquiry authorized by this Act |
21 | | or its implementing rules; |
22 | | (8) to issue orders against any person if the |
23 | | Secretary has reasonable cause to believe that an unsafe, |
24 | | unsound, or unlawful practice has occurred, is occurring, |
25 | | or is about to occur; if any person is violating, or is |
26 | | about to violate any law, rule, or written agreement with |
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1 | | the Secretary; or for the purpose of administering the |
2 | | provisions of this Act and any rule adopted in accordance |
3 | | with this Act; |
4 | | (9) to address any inquiries to any licensee, or the |
5 | | owners, officers, or directors thereof, in relation to its |
6 | | activities and conditions, or any other matter connected |
7 | | with its affairs, and any licensee or person so addressed |
8 | | shall promptly reply in writing to those inquiries. The |
9 | | Secretary may also require reports from any licensee at |
10 | | any time the Secretary deems desirable; |
11 | | (10) to examine the books and records of every |
12 | | licensee under this Act or any person requiring a license |
13 | | or who the Secretary reasonably believes may require a |
14 | | license; |
15 | | (11) to enforce provisions of this Act and its |
16 | | implementing rules; |
17 | | (12) to levy fees including, but not limited to, |
18 | | assessments, examination fees, and licensing fees, civil |
19 | | penalties, and charges for services performed in |
20 | | administering this Act. The aggregate of all fees |
21 | | collected by the Secretary under this Act shall be paid |
22 | | promptly after receipt into the Financial Institution |
23 | | Fund. The amounts deposited into the Financial Institution |
24 | | Fund shall be used for the ordinary and contingent |
25 | | expenses of the Department. Nothing in this Act prevents |
26 | | paying expenses including salaries, retirement, social |
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1 | | security, and State-paid insurance of State employees, or |
2 | | any other expenses incurred under this Act by |
3 | | appropriation from the General Revenue Fund or any other |
4 | | fund; |
5 | | (13) to issue refunds to licensees of any overpayment |
6 | | for good cause shown; |
7 | | (14) to appoint examiners, supervisors, experts, and |
8 | | special assistants as needed to effectively and |
9 | | efficiently administer this Act; |
10 | | (15) to conduct hearings for the purpose of |
11 | | suspensions, denials, or revocations of licenses, fining, |
12 | | or other discipline of licensees or unlicensed persons or |
13 | | entities; |
14 | | (16) to exercise visitorial power over a licensee; |
15 | | (17) to enter into cooperative agreements with state |
16 | | regulatory authorities of other states to provide for |
17 | | examination of corporate offices or branches of those |
18 | | states, participate in joint examinations with other |
19 | | regulators, and to accept reports of the examinations; |
20 | | (18) to assign an examiner or examiners to monitor the |
21 | | affairs of a licensee with whatever frequency the |
22 | | Secretary determines appropriate and to charge the |
23 | | licensee for reasonable and necessary expenses of the |
24 | | Secretary if in the opinion of the Secretary an emergency |
25 | | exists or appears likely to occur; |
26 | | (19) to impose civil penalties of up to $200 per day |
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1 | | against a licensee for failing to respond to a regulatory |
2 | | request or reporting requirement; and |
3 | | (20) to enter into agreements in connection with a |
4 | | multistate licensing system. |
5 | | Section 65. Examination; prohibited activities. |
6 | | (a) The Secretary shall examine the business affairs of a |
7 | | licensee under this Act as often as the Secretary deems |
8 | | necessary and proper. The Secretary may adopt rules with |
9 | | respect to the frequency and manner of examination. The |
10 | | Secretary shall appoint a suitable person to perform the |
11 | | examination. The Secretary and the Secretary's appointees may |
12 | | examine the entire books, records, documents, and operations |
13 | | of each licensee and its subsidiary, affiliate, or agent, and |
14 | | may examine any of the licensee's or its subsidiaries', |
15 | | owners, affiliates', or agents' officers, directors, |
16 | | employees, and agents under oath. |
17 | | (b) Affiliates of a licensee shall be subject to |
18 | | examination by the Secretary on the same terms as the |
19 | | licensee, but only when reports from or examination of a |
20 | | licensee provides for documented evidence of unlawful activity |
21 | | between a licensee and affiliate benefiting, affecting, or |
22 | | deriving from the activities regulated by this Act. |
23 | | (c) The expenses of any examination of the licensee or its |
24 | | affiliates shall be borne by the licensee and assessed by the |
25 | | Secretary as may be established by rule. |
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1 | | (d) All confidential supervisory information, including |
2 | | the examination report and the work papers of the report, |
3 | | shall belong to the Secretary's office and may not be |
4 | | disclosed to anyone other than the licensee, law enforcement |
5 | | officials, or other regulatory agencies that have an |
6 | | appropriate regulatory interest as determined by the Secretary |
7 | | or to a party presenting a lawful subpoena to the Department. |
8 | | The Secretary may, through the Attorney General, immediately |
9 | | appeal to the court of jurisdiction the disclosure of the |
10 | | confidential supervisory information and seek a stay of the |
11 | | subpoena pending the outcome of the appeal. Reports required |
12 | | of licensees by the Secretary under this Act and results of |
13 | | examinations performed by the Secretary under this Act shall |
14 | | be the property of only the Secretary, but may be shared with |
15 | | the licensee. Any person demanded to produce the Department's |
16 | | confidential supervisory information, whether by subpoena, |
17 | | order, or other judicial or administrative process, shall |
18 | | withhold production of the confidential supervisory |
19 | | information and shall notify the Secretary of the demand. The |
20 | | Secretary is authorized to intervene for the purpose of |
21 | | enforcing the limitations of this Section or seeking the |
22 | | withdrawal or termination of the attempt to compel production |
23 | | of the confidential supervisory information. The Secretary may |
24 | | impose any conditions and limitations on the disclosure of |
25 | | confidential supervisory information that are necessary to |
26 | | protect the confidentiality of that information. The Secretary |
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1 | | may condition a decision to disclose confidential supervisory |
2 | | information on entry of a protective order by the court or |
3 | | administrative tribunal presiding in the particular case or on |
4 | | a written agreement of confidentiality. If a protective order |
5 | | or agreement has already been entered between parties other |
6 | | than the Secretary, then the Secretary may nevertheless |
7 | | condition approval for release of confidential supervisory |
8 | | information upon the inclusion of additional or amended |
9 | | provisions in the protective order. The Secretary may |
10 | | authorize a party who obtained the records for use in one case |
11 | | to provide them to another party in another case, subject to |
12 | | any conditions that the Secretary may impose on either or both |
13 | | parties. The requester shall promptly notify other parties to |
14 | | a case of the release of confidential supervisory information |
15 | | obtained and, upon entry of a protective order, shall provide |
16 | | copies of confidential supervisory information to the other |
17 | | parties. |
18 | | Section 70. Subpoena power of the Secretary. |
19 | | (a) The Secretary may issue and serve subpoenas and |
20 | | subpoenas duces tecum to compel the attendance of witnesses |
21 | | and the production of all books, accounts, records, and other |
22 | | documents and materials relevant to an examination or |
23 | | investigation. The Secretary, or the Secretary's duly |
24 | | authorized representative, may administer oaths and |
25 | | affirmations to any person. |
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1 | | (b) If a person does not comply with the Secretary's |
2 | | subpoena or subpoena duces tecum, the Secretary may, through |
3 | | the Attorney General, petition the circuit court of the county |
4 | | in which the subpoenaed person resides or has its principal |
5 | | place of business for an order requiring the subpoenaed person |
6 | | to testify and to comply with the subpoena duces tecum. The |
7 | | court may grant injunctive relief restraining the person from |
8 | | engaging in activity regulated by this Act. The court may |
9 | | grant other relief, including, but not limited to, the |
10 | | restraint, by injunction or appointment of a receiver, of any |
11 | | transfer, pledge, assignment, or other disposition of the |
12 | | person's assets, concealment, destruction, or other |
13 | | disposition of books, accounts, records, or other documents |
14 | | and materials, as the court deems appropriate, until the |
15 | | person has fully complied with the subpoena or subpoena duces |
16 | | tecum and the Secretary has completed an investigation or |
17 | | examination. |
18 | | (c) If it appears to the Secretary that the compliance |
19 | | with a subpoena or subpoena duces tecum issued or caused to be |
20 | | issued by the Secretary under this Section is essential to an |
21 | | investigation or examination, the Secretary, in addition to |
22 | | the other remedies provided for in this Act, may, through the |
23 | | Attorney General, apply for relief to the circuit court of the |
24 | | county in which the subpoenaed person resides or has its |
25 | | principal place of business. The court shall thereupon direct |
26 | | the issuance of an order against the subpoenaed person |
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1 | | requiring sufficient bond conditioned on compliance with the |
2 | | subpoena or subpoena duces tecum. The court shall cause to be |
3 | | endorsed on the order a suitable amount of bond or payment |
4 | | pursuant to which the person named be freed, having a due |
5 | | regard to the nature of the case. |
6 | | (d) In addition, the Secretary may, through the Attorney |
7 | | General, seek a writ of attachment or an equivalent order from |
8 | | the circuit court having jurisdiction over the person who has |
9 | | refused to obey a subpoena, who has refused to give testimony, |
10 | | or who has refused to produce the matters described in the |
11 | | subpoena duces tecum. |
12 | | Section 75. Reports required. |
13 | | (a) Every licensee shall produce to the Department reports |
14 | | the Secretary requests within 90 days after the Secretary's |
15 | | request unless exigent circumstances require production in a |
16 | | shorter timeframe. |
17 | | (b) Every provider shall produce to the Department a |
18 | | report of its commercial financing activity upon the request |
19 | | of the Secretary. Every provider shall produce its report to |
20 | | the Department within 90 days after the Secretary's request. |
21 | | The Department may require reports under this subsection |
22 | | before a provider shall become licensed under this Act. |
23 | | Section 76. Sales-based financing disclosure requirements. |
24 | | A provider subject to this Act shall provide the following |
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1 | | disclosures to a recipient, in a manner prescribed by the |
2 | | Secretary, if any, at the time of extending a specific offer of |
3 | | sales-based financing: |
4 | | (1) The total amount of the commercial financing, and, |
5 | | if different from the financing amount, the disbursement |
6 | | amount after any amount deducted or withheld at |
7 | | disbursement. |
8 | | (2) The finance charge. |
9 | | (3) The estimated annual percentage rate, using the |
10 | | words annual percentage rate or the abbreviation |
11 | | "Estimated APR", expressed as a yearly rate, inclusive of |
12 | | any fees and finance charges, based on the estimated term |
13 | | of repayment and the projected periodic payment amounts. |
14 | | The estimated term of repayment and the projected periodic |
15 | | payment amounts shall be calculated based on the |
16 | | projection of the recipient's sales, which may be referred |
17 | | to as the projected sales volume. The projected sales |
18 | | volume may be calculated using the historical method or |
19 | | the underwriting method. The provider shall provide notice |
20 | | to the Secretary on which method the provider intends to |
21 | | use across all instances of sales-based financing offered |
22 | | in calculating the estimated annual percentage rate under |
23 | | this Section, according to the following: |
24 | | (A) A provider using the historical method shall |
25 | | use an average historical volume of sales or revenue |
26 | | by which the financing's payment amounts are based and |
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1 | | the estimated annual percentage rate is calculated. |
2 | | The provider shall fix the historical time period used |
3 | | to calculate the average historical volume and use the |
4 | | period for all disclosure purposes for all sales-based |
5 | | financing products offered. The fixed historical time |
6 | | period shall either be the preceding time period from |
7 | | the specific offer or, alternatively, the provider may |
8 | | use average sales for the same number of months with |
9 | | the highest sales volume within the previous 12 |
10 | | months. The fixed historical time period shall be no |
11 | | less than one month and shall not exceed 12 months. |
12 | | (B) A provider using the underwriting method shall |
13 | | determine the estimated annual percentage rate, the |
14 | | estimated term, and the projected payments, using a |
15 | | projected sales volume that the provider elects for |
16 | | each disclosure, if they participate in a review |
17 | | process prescribed by the Secretary. A provider shall, |
18 | | on an annual basis, report data to the Secretary of |
19 | | estimated annual percentage rates disclosed to the |
20 | | recipient and actual retrospective annual percentage |
21 | | rates of completed transactions. The report shall |
22 | | contain the information as the Department may adopt by |
23 | | rule as necessary or appropriate for the purpose of |
24 | | making a determination of whether the deviation |
25 | | between the estimated annual percentage rate and |
26 | | actual retrospective annual percentage rates of |
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1 | | completed transactions was reasonable. The Secretary |
2 | | shall establish the method of reporting and may, upon |
3 | | a finding that the use of projected sales volume by the |
4 | | provider has resulted in an unacceptable deviation |
5 | | between estimated and actual annual percentage rate, |
6 | | require the provider to use the historical method. The |
7 | | Secretary may consider unusual and extraordinary |
8 | | circumstances impacting the provider's deviation |
9 | | between estimated and actual annual percentage rate in |
10 | | the determination of the finding. |
11 | | (4) The total repayment amount, which is the |
12 | | disbursement amount plus the finance charge. |
13 | | (5) The estimated term, which is the period of time |
14 | | required for the periodic payments, based on the projected |
15 | | sales volume, to equal the total amount required to be |
16 | | repaid. |
17 | | (6) The payment amounts, based on the projected sales |
18 | | volume: |
19 | | (A) for payment amounts that are fixed, the |
20 | | payment amounts and frequency, such as, daily, weekly, |
21 | | monthly, and, if the payment frequency is other than |
22 | | monthly, the amount of the average projected payments |
23 | | per month; or |
24 | | (B) for payment amounts that are variable, a |
25 | | payment schedule or a description of the method used |
26 | | to calculate the amounts and frequency of payments and |
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1 | | the amount of the average projected payments per |
2 | | month. |
3 | | (7) A description of all other potential fees and |
4 | | charges not included in the finance charge, including, but |
5 | | not limited to, draw fees, late payment fees, and returned |
6 | | payment fees. |
7 | | (8) If the recipient elects to pay off or refinance |
8 | | the commercial financing before full repayment, the |
9 | | provider shall disclose: |
10 | | (A) whether the recipient would be required to pay |
11 | | any finance charges other than interest accrued since |
12 | | their last payment; if so, disclosure of the |
13 | | percentage of any unpaid portion of the finance charge |
14 | | and maximum dollar amount the recipient could be |
15 | | required to pay; and |
16 | | (B) whether the recipient would be required to pay |
17 | | any additional fees not already included in the |
18 | | finance charge. |
19 | | (9) A description of collateral requirements or |
20 | | security interests, if any. |
21 | | Section 77. Closed-end commercial financing disclosure |
22 | | requirements. A provider subject to this Act shall provide the |
23 | | following disclosures to a recipient, in a manner prescribed |
24 | | by the Secretary, if any, at the time of extending a specific |
25 | | offer for closed-end financing: |
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1 | | (1) The total amount of the commercial financing, and, |
2 | | if different from the financing amount, the disbursement |
3 | | amount after any amount deducted or withheld at |
4 | | disbursement. |
5 | | (2) The finance charge. |
6 | | (3) The annual percentage rate, using only the words |
7 | | annual percentage rate or the abbreviation "APR", |
8 | | expressed as a yearly rate, inclusive of any fees and |
9 | | finance charges that cannot be avoided by a recipient. |
10 | | (4) The total repayment amount, which is the |
11 | | disbursement amount plus the finance charge. |
12 | | (5) The term of the financing. |
13 | | (6) The payment amounts: |
14 | | (A) for payment amounts that are fixed, the |
15 | | payment amounts and frequency, such as daily, weekly, |
16 | | monthly, and, if the term is longer than one month, the |
17 | | average monthly payment amount; or |
18 | | (B) for payment amounts that are variable, a full |
19 | | payment schedule or a description of the method used |
20 | | to calculate the amounts and frequency of payments, |
21 | | and, if the term is longer than one month, the |
22 | | estimated average monthly payment amount. |
23 | | (7) A description of all other potential fees and |
24 | | charges that can be avoided by the recipient, including, |
25 | | but not limited to, late payment fees and returned payment |
26 | | fees. |
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1 | | (8) If the recipient elects to pay off or refinance |
2 | | the commercial financing before full repayment, the |
3 | | provider shall disclose: |
4 | | (A) whether the recipient would be required to pay |
5 | | any finance charges other than interest accrued since |
6 | | their last payment; if so, disclosure of the |
7 | | percentage of any unpaid portion of the finance charge |
8 | | and maximum dollar amount the recipient could be |
9 | | required to pay; and |
10 | | (B) whether the recipient would be required to pay |
11 | | any additional fees not already included in the |
12 | | finance charge. |
13 | | (9) A description of collateral requirements or |
14 | | security interests, if any. |
15 | | Section 78. Open-end commercial financing disclosure |
16 | | requirements. A provider subject to this Act shall provide the |
17 | | following disclosures to a recipient, in a manner prescribed |
18 | | by the Secretary, if any, at the time of extending a specific |
19 | | offer for open-end financing: |
20 | | (1) The maximum amount of credit available to the |
21 | | recipient, such as the credit line amount, and the amount |
22 | | scheduled to be drawn by the recipient at the time the |
23 | | offer is extended, if any, less any amount deducted or |
24 | | withheld at disbursement. |
25 | | (2) The finance charge. |
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1 | | (3) The annual percentage rate, using only the words |
2 | | annual percentage rate or the abbreviation "APR", |
3 | | expressed as a nominal yearly rate, inclusive of any fees |
4 | | and finance charges that cannot be avoided by a recipient, |
5 | | and based on the maximum amount of credit available to the |
6 | | recipient and the term resulting from making the minimum |
7 | | required payments term as disclosed. |
8 | | (4) The total repayment amount, which is the draw |
9 | | amount, less any fees deducted or withheld at |
10 | | disbursement, plus the finance charge. The total repayment |
11 | | amount shall assume a draw amount equal to the maximum |
12 | | amount of credit available to the recipient if drawn and |
13 | | held for the duration of the term or draw period. |
14 | | (5) The term of the plan, if applicable, or the period |
15 | | over which a draw is amortized. |
16 | | (6) The payment frequency and amounts, based on the |
17 | | assumptions used in the calculation of the annual |
18 | | percentage rate, including a description of payment amount |
19 | | requirements such as a minimum payment amount, and if the |
20 | | payment frequency is other than monthly, the amount of the |
21 | | average projected payments per month. For payment amounts |
22 | | that are variable, the provider should include a payment |
23 | | schedule or a description of the method used to calculate |
24 | | the amounts and frequency of payments and the estimated |
25 | | average monthly payment amount. |
26 | | (7) A description of all other potential fees and |
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1 | | charges that can be avoided by the recipient, including, |
2 | | but not limited to, draw fees, late payment fees, and |
3 | | returned payment fees. |
4 | | (8) Were the recipient to elect to pay off or |
5 | | refinance the commercial financing before full repayment, |
6 | | the provider shall disclose: |
7 | | (A) whether the recipient would be required to pay |
8 | | any finance charges other than interest accrued since |
9 | | their last payment; if so, disclosure of the |
10 | | percentage of any unpaid portion of the finance charge |
11 | | and maximum dollar amount the recipient could be |
12 | | required to pay; and |
13 | | (B) whether the recipient would be required to pay |
14 | | any additional fees not already included in the |
15 | | finance charge. |
16 | | (9) A description of collateral requirements or |
17 | | security interests, if any. |
18 | | Section 79. Factoring transaction disclosure requirements. |
19 | | A provider subject to this Act shall provide the following |
20 | | disclosures to a recipient, in a manner prescribed by the |
21 | | Secretary, if any, at the time of extending a specific offer |
22 | | for a factoring transaction: |
23 | | (1) The amount of the receivables purchase price paid |
24 | | to the recipient, and, if different from the purchase |
25 | | price, the disbursement amount after any amount deducted |
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1 | | or withheld at disbursement. |
2 | | (2) The finance charge. |
3 | | (3) The estimated annual percentage rate, using that |
4 | | term. To calculate the estimated annual percentage rate, |
5 | | the purchase amount is considered the financing amount, |
6 | | the purchase amount minus the finance charge is considered |
7 | | the payment amount, and the term is established by the |
8 | | payment due date of the receivables. As an alternate |
9 | | method of establishing the term, the provider may estimate |
10 | | the term for a factoring transaction as the average |
11 | | payment period based on its historical data over a period |
12 | | not to exceed the previous 12 months, concerning payment |
13 | | invoices paid by the party or parties owing the accounts |
14 | | receivable in question. |
15 | | (4) The total payment amount, which is the purchase |
16 | | amount plus the finance charge. |
17 | | (5) A description of all other potential fees and |
18 | | charges that can be avoided by the recipient. |
19 | | (6) A description of the receivables purchased and any |
20 | | additional collateral requirements or security interests. |
21 | | Section 80. Other forms of financing disclosure |
22 | | requirements. The Secretary may require disclosure by a |
23 | | provider extending a specific offer of commercial financing |
24 | | which is not an open-end financing, closed-end financing, |
25 | | sales-based financing, or factoring transaction but otherwise |
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1 | | meets the definition of commercial financing. Subject to rules |
2 | | adopted by the Secretary, a provider subject to this Act shall |
3 | | provide the following disclosures to a recipient, in a manner |
4 | | prescribed by the Secretary, if any, at the time of extending a |
5 | | specific offer of other forms of financing: |
6 | | (1) The total amount of the commercial financing, and, |
7 | | if different from the financing amount, the disbursement |
8 | | amount after any fees deducted or withheld at |
9 | | disbursement. |
10 | | (2) The finance charge. |
11 | | (3) The annual percentage rate, using only the words |
12 | | annual percentage rate or the abbreviation "APR", |
13 | | expressed as a yearly rate, inclusive of any fees and |
14 | | finance charges. |
15 | | (4) The total repayment amount which is the |
16 | | disbursement amount plus the finance charge. |
17 | | (5) The term of the financing. |
18 | | (6) The payment amounts: |
19 | | (A) for payment amounts that are fixed, the |
20 | | payment amounts and frequency, such as daily, weekly, |
21 | | monthly, and the average monthly payment amount; or |
22 | | (B) for payment amounts that are variable, a |
23 | | payment schedule or a description of the method used |
24 | | to calculate the amounts and frequency of payments, |
25 | | and the estimated average monthly payment amount. |
26 | | (7) A description of all other potential fees and |
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1 | | charges that can be avoided by the recipient, including, |
2 | | but not limited to, late payment fees and returned payment |
3 | | fees. |
4 | | (8) If the recipient elects to pay off or refinance |
5 | | the commercial financing before full repayment, the |
6 | | provider shall disclose: |
7 | | (A) whether the recipient would be required to pay |
8 | | any finance charges other than interest accrued since |
9 | | their last payment; if so, disclosure of the |
10 | | percentage of any unpaid portion of the finance charge |
11 | | and maximum dollar amount the recipient could be |
12 | | required to pay; and |
13 | | (B) whether the recipient would be required to pay |
14 | | any additional fees not already included in the |
15 | | finance charge. |
16 | | (9) A description of collateral requirements or |
17 | | security interests, if any. |
18 | | Section 81. Disclosure requirements for renewal financing. |
19 | | If, as a condition of obtaining the commercial financing, the |
20 | | provider requires the recipient to pay off the balance of an |
21 | | existing commercial financing from the same provider, the |
22 | | provider shall disclose: |
23 | | (1) The amount of the new commercial financing that is |
24 | | used to pay off the portion of the existing commercial |
25 | | financing that consists of prepayment charges required to |
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1 | | be paid and any unpaid interest expense that was not |
2 | | forgiven at the time of renewal. For financing for which |
3 | | the total repayment amount is calculated as a fixed |
4 | | amount, the prepayment charge is equal to the original |
5 | | finance charge multiplied by the amount of the renewal |
6 | | used to pay off existing financing as a percentage of the |
7 | | total repayment amount, minus any portion of the total |
8 | | repayment amount forgiven by the provider at the time of |
9 | | prepayment. If the amount is more than zero, the amount |
10 | | shall be the answer to the following question: "Does the |
11 | | renewal financing include any amount that is used to pay |
12 | | unpaid finance charges or fees, also known as double |
13 | | dipping? Yes, {enter amount}. If the amount is zero, the |
14 | | answer would be no." |
15 | | (2) If the disbursement amount will be reduced to pay |
16 | | down any unpaid portion of the outstanding balance, the |
17 | | actual dollar amount by which the disbursement amount will |
18 | | be reduced. |
19 | | Section 82. Additional information. Nothing in this Act |
20 | | shall prevent a provider from providing or disclosing |
21 | | additional information on a commercial financing being offered |
22 | | to a recipient, provided however, that the additional |
23 | | information shall not be disclosed as part of the disclosure |
24 | | required by this Act. If other metrics of financing cost are |
25 | | disclosed or used in the application process of a commercial |
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1 | | financing, these metrics shall not be presented as a "rate" if |
2 | | they are not the annual interest rate or the annual percentage |
3 | | rate. The term "interest", when used to describe a percentage |
4 | | rate, shall only be used to describe annualized percentage |
5 | | rates, such as the annual interest rate. When a provider |
6 | | states a rate of finance charge or a financing amount to a |
7 | | recipient during an application process for commercial |
8 | | financing, the provider shall also state the rate as an |
9 | | "annual percentage rate", using that term or the abbreviation |
10 | | "APR". |
11 | | Section 83. Violation of disclosure requirements. If the |
12 | | Secretary finds that a provider who is required to obtain a |
13 | | license according to this Act has violated any disclosure |
14 | | requirements outlined in Sections 76 through 82, that shall be |
15 | | considered a violation of this Act separate from any other |
16 | | violation that may result from operating without a license as |
17 | | outlined in Section 20. |
18 | | Section 84. Suspension; revocation of licenses; civil |
19 | | penalties and other discipline. |
20 | | (a) The Secretary may enter an order imposing one or more |
21 | | of the following penalties: |
22 | | (1) revocation of license; |
23 | | (2) suspension of a license subject to reinstatement |
24 | | upon satisfying all reasonable conditions the Secretary |
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1 | | may specify; |
2 | | (3) placement of the licensee or applicant on |
3 | | probation for a period of time and subject to all |
4 | | reasonable conditions as the Secretary may specify; |
5 | | (4) issuance of a reprimand; |
6 | | (5) imposition of civil monetary penalties as follows: |
7 | | (A) a civil penalty not to exceed $10,000 for each |
8 | | separate offense, but civil penalties may not to |
9 | | exceed $50,000 for all violations arising from the use |
10 | | of the same transaction documents or materials, |
11 | | including for financing offers that are not |
12 | | consummated; and |
13 | | (B) if a person violates this Act after receiving |
14 | | written notice of a prior violation, a civil penalty |
15 | | may be imposed not to exceed $10,000 for each count of |
16 | | separate offense, but the civil penalties are not to |
17 | | exceed $100,000 for all violations arising from the |
18 | | use of the same transaction documents or materials, |
19 | | including for financing offers that are not |
20 | | consummated; |
21 | | (6) restitution, refunds, or any other relief |
22 | | necessary to protect consumers; and |
23 | | (7) denial of a license. |
24 | | (b) Grounds for penalties include: |
25 | | (1) if a person has violated or aided another to |
26 | | violate, any provisions of this Act, any rule adopted by |
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1 | | the Secretary, or any other law, rule, or regulation of |
2 | | this State, any other state, or the United States; |
3 | | (2) if a fact or condition exists that, if it had |
4 | | existed at the time of the original application for the |
5 | | license, would have warranted the Secretary in refusing |
6 | | issue the original license; |
7 | | (3) that a licensee that is not an individual has |
8 | | acted or failed to act in a way that would be cause for |
9 | | suspending or revoking a license to an individual; |
10 | | (4) that a person engaged in unsafe, unsound, unfair, |
11 | | deceptive, or abusive business practices related to the |
12 | | activity covered by this Act; |
13 | | (5) that a person has been adjudicated guilty of a |
14 | | crime against the law of this State, any other state, or of |
15 | | the United States involving moral turpitude, abusive, |
16 | | deceptive, fraudulent, or dishonest dealing; |
17 | | (6) that a final judgment has been entered against a |
18 | | person in a civil action upon grounds of abusive conduct, |
19 | | conversion, fraud, misrepresentation, or deceit; |
20 | | (7) that a person made a material misstatement in its |
21 | | application for licensure or any other communication to |
22 | | the Secretary; |
23 | | (8) that a person has demonstrated, by course of |
24 | | conduct, negligence or incompetence in performing any act |
25 | | for which it is required to hold a license under this Act; |
26 | | (9) that a person has failed to advise the Secretary |
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1 | | in writing of any changes to the information submitted on |
2 | | their most recent application for license within 30 days |
3 | | after the change; |
4 | | (10) that a licensee failed to submit to periodic |
5 | | examination by the Secretary as required by this Act or |
6 | | failed to maintain, preserve, and keep available for |
7 | | examination all books, accounts, or other documents |
8 | | required by the provisions of this Act and rules of the |
9 | | Secretary; |
10 | | (11) that a person failed to account or deliver to any |
11 | | person any property, such as any money, fund, deposit, |
12 | | check, draft, or other document or thing of value, that |
13 | | has come into its hands and that is not its property or |
14 | | that it is not in law or equity entitled to retain, under |
15 | | the circumstances and at the time which has been agreed |
16 | | upon or is required by law or, in the absence of a fixed |
17 | | time, upon demand of the person for the accounting and |
18 | | delivery; |
19 | | (12) that a person failed to disburse funds in |
20 | | accordance with agreements or law; |
21 | | (13) that a person had a license, or the equivalent, |
22 | | to practice any profession, occupation, other industry or |
23 | | activity requiring licensure revoked, suspended, |
24 | | disciplined, or otherwise acted against, including the |
25 | | denial of licensure by a licensing authority of this State |
26 | | or another state, territory, or country for fraud, |
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1 | | dishonest dealing, misrepresentations, incompetence, |
2 | | conversion, any act of moral turpitude or any other |
3 | | grounds that would constitute grounds for discipline under |
4 | | this Act; |
5 | | (14) that a person licensed under this Act failed to |
6 | | timely notify the Department that the person has been |
7 | | disciplined, including denial of licensure, by a licensing |
8 | | authority of this State or another state. Timely |
9 | | notification shall be notification to the Department |
10 | | within 10 days after entry of discipline; |
11 | | (15) that a person engaged in activities regulated by |
12 | | this Act without a current, active license unless |
13 | | specifically exempted by this Act; |
14 | | (16) that a person failed to timely pay any fee, |
15 | | charge, or civil penalty assessed under this Act; and |
16 | | (17) that a person refused, obstructed, evaded, or |
17 | | unreasonably delayed an investigation, information |
18 | | request, or examination authorized under this Act, or |
19 | | refused, obstructed, evaded, or unreasonably delayed |
20 | | compliance with the Secretary's subpoena or subpoena duces |
21 | | tecum. |
22 | | (c) No license shall be suspended or revoked, except as |
23 | | provided in this Section, nor shall any licensee be assessed a |
24 | | civil penalty without notice of his or her right to a hearing. |
25 | | (d) The Secretary may suspend any license for a period not |
26 | | exceeding 180 days pending investigation for good cause shown |
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1 | | that an emergency exists. |
2 | | (e) No revocation, suspension, or surrender of any license |
3 | | shall impair or affect the obligation of any preexisting |
4 | | lawful contract between the licensee and any person. The |
5 | | Secretary's approval of a licensee's application to surrender |
6 | | its license shall not affect the licensee's civil or criminal |
7 | | liability for acts committed prior to surrender. Surrender of |
8 | | a license does not entitle the licensee to a return of any part |
9 | | of the license fee. |
10 | | (f) Every license issued under this Act shall remain in |
11 | | force and effect until the license expires, is surrendered, is |
12 | | revoked, or is suspended in accordance with the provisions of |
13 | | this Act. The Secretary shall have authority to reinstate a |
14 | | suspended license or to issue a new license to a licensee whose |
15 | | license has been revoked or surrendered if no fact or |
16 | | condition then exists which would have warranted the Secretary |
17 | | in refusing originally to issue that license under this Act. |
18 | | (g) Whenever the Secretary imposes discipline authorized |
19 | | by this Section, the Secretary shall execute a written order |
20 | | to that effect. The Secretary shall serve a copy of the order |
21 | | upon the person. The Secretary shall serve the person with |
22 | | notice of the order, including a statement of the reasons for |
23 | | the order personally or by certified mail. Service by |
24 | | certified mail shall be deemed completed when the notice is |
25 | | deposited in the U.S. Mail. |
26 | | (h) An order assessing a civil penalty, an order revoking |
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1 | | or suspending a license, or an order denying renewal of a |
2 | | license shall take effect upon service of the order unless the |
3 | | licensee serves the Department with a written request for a |
4 | | hearing in the manner required by the order within 10 days |
5 | | after the date of service of the order. If a person requests a |
6 | | hearing, the order shall be stayed from its date of service |
7 | | until the Department enters a final administrative order. |
8 | | Hearings shall be conducted as follows: |
9 | | (1) If the licensee requests a hearing, then the |
10 | | Secretary shall schedule a hearing within 90 days after |
11 | | the request for a hearing unless otherwise agreed to by |
12 | | the parties. |
13 | | (2) The hearing shall be held at the time and place |
14 | | designated by the Secretary. The Secretary and any |
15 | | administrative law judge designated by the Secretary shall |
16 | | have the power to administer oaths and affirmations, |
17 | | subpoena witnesses and compel their attendance, take |
18 | | evidence, and require the production of books, papers, |
19 | | correspondence, and other records or information that they |
20 | | consider relevant or material to the inquiry. |
21 | | (i) The costs of administrative hearings conducted under |
22 | | this Section shall be paid by the licensee or other person |
23 | | subject to the hearing. |
24 | | (j) A licensee and other persons subject to this Act shall |
25 | | be subject to the disciplinary actions specified in this Act |
26 | | for any violations conducted by any officer, director, |
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1 | | shareholder, joint venture, partner, owner, including, but not |
2 | | limited to, ultimate equitable owner. |
3 | | Section 85. Investigation of complaints. The Secretary may |
4 | | investigate any complaints and inquiries made concerning this |
5 | | Act and any licensees or persons the Secretary believes may |
6 | | require a license under this Act. Each licensee or person the |
7 | | Secretary believes may require a license under this Act shall |
8 | | open the licensee's or person's books, records, documents, and |
9 | | offices wherever situated to the Secretary as needed to |
10 | | facilitate the investigations. |
11 | | Section 90. Additional investigation and examination |
12 | | authority. In addition to any authority allowed under this |
13 | | Act, the Secretary may conduct investigations and examinations |
14 | | as follows: |
15 | | (1) For purposes of initial licensing, license |
16 | | renewal, license suspension, license conditioning, license |
17 | | probation, license revocation or termination, or general |
18 | | or specific inquiry or investigation to determine |
19 | | compliance with this Act, the Secretary may access, |
20 | | receive, and use any books, accounts, records, files, |
21 | | documents, information, or evidence, including, but not |
22 | | limited to, the following: |
23 | | (A) criminal, civil, licensure, and administrative |
24 | | history information, including nonconviction data as |
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1 | | specified in the Criminal Code of 2012; (B) personal |
2 | | history and experience information, including |
3 | | independent credit reports obtained from a consumer |
4 | | reporting agency described in Section 603(p) of the |
5 | | federal Fair Credit Reporting Act; and (C) any other |
6 | | documents, information, or evidence the Secretary |
7 | | deems relevant to the inquiry or investigation, |
8 | | regardless of the location, possession, control, or |
9 | | custody of the documents, information, or evidence. |
10 | | (2) For the purposes of investigating violations or |
11 | | complaints arising under this Act or for the purposes of |
12 | | examination, the Secretary may review, investigate, or |
13 | | examine any licensee, individual, or person subject to |
14 | | this Act as often as necessary in order to carry out the |
15 | | purposes of this Act. The Secretary may direct, subpoena, |
16 | | or order the attendance of, and examine under oath all |
17 | | persons and order any person to produce records, files, |
18 | | and any other documents the Secretary deems relevant to an |
19 | | inquiry. |
20 | | (3) Each person subject to this Act shall make |
21 | | available to the Secretary upon request the books and |
22 | | records relating to the operations of the person subject |
23 | | to this Act. The Secretary shall have access to those |
24 | | books and records and may interview the owners, officers, |
25 | | principals, employees, independent contractors, agents, |
26 | | vendors, and customers of any licensee or person subject |
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1 | | to this Act. |
2 | | (4) Each person subject to this Act shall make or |
3 | | compile reports or prepare other information as directed |
4 | | by the Secretary to carry out the purposes of this |
5 | | Section, including, but not limited to: |
6 | | (A) accounting compilations; |
7 | | (B) information lists and data concerning |
8 | | transactions in a format prescribed by the Secretary; |
9 | | or |
10 | | (C) other information deemed necessary to carry |
11 | | out the purposes of this Section. |
12 | | (5) In making any examination or investigation |
13 | | authorized by this Act, the Secretary may control access |
14 | | to any documents and records of the licensee or person |
15 | | under examination or investigation. The Secretary may take |
16 | | possession of the documents and records or otherwise take |
17 | | constructive control of the documents. During the period |
18 | | of control, no person shall remove or alter any of the |
19 | | documents or records, except pursuant to a court order or |
20 | | with the consent of the Secretary. Unless the Secretary |
21 | | has reasonable grounds to believe the documents or records |
22 | | of the licensee have been or are at risk of being altered |
23 | | or destroyed for purposes of concealing a violation of |
24 | | this Act, the licensee or owner of the documents and |
25 | | records shall have access to the documents or records as |
26 | | necessary to conduct its ordinary business affairs. |
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1 | | (6) In order to carry out the purposes of this |
2 | | Section, the Secretary may: |
3 | | (A) retain attorneys, accountants, or other |
4 | | professionals and specialists as examiners, auditors, |
5 | | or investigators to conduct or assist in the conduct |
6 | | of examinations or investigations; |
7 | | (B) enter into agreements or relationships with |
8 | | other government officials or regulatory associations |
9 | | to protect consumers, improve efficiencies, and reduce |
10 | | regulatory burden by sharing resources, standardized |
11 | | or uniform methods or procedures, and documents, |
12 | | records, information, or evidence obtained under this |
13 | | Section; |
14 | | (C) use, hire, contract, or employ publicly or |
15 | | privately available analytical systems, methods, or |
16 | | software to examine or investigate the licensee, |
17 | | individual, or person subject to this Act; |
18 | | (D) accept and rely on examination or |
19 | | investigation reports made by other government |
20 | | officials, within or outside this State; or |
21 | | (E) accept audit reports made by an independent |
22 | | certified public accountant for the person subject to |
23 | | this Act and may incorporate the audit report in the |
24 | | report of the examination, report of investigation, or |
25 | | other writing of the Secretary. |
26 | | (7) The authority of this Section shall remain in |
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1 | | effect, whether the person subject to this Act acts or |
2 | | claims to act under any licensing or registration law of |
3 | | this State or claims to act without the authority. |
4 | | (8) No licensee or person subject to investigation or |
5 | | examination under this Section may knowingly withhold, |
6 | | alter, abstract, remove, mutilate, destroy, hide, or |
7 | | conceal any books, records, computer records, or other |
8 | | information or take actions designed to delay or |
9 | | complicate review of records. |
10 | | Section 95. Confidentiality. To promote more effective |
11 | | regulation, protect consumers, and reduce regulatory burden |
12 | | through inter-regulatory sharing of confidential supervisory |
13 | | information: |
14 | | (1) The privacy or confidentiality of any information |
15 | | or material provided to a multistate licensing system, |
16 | | including all privileges arising under federal or state |
17 | | court rules and law, shall continue to apply to the |
18 | | information or material after the information or material |
19 | | has been disclosed to the multistate licensing system. |
20 | | Information and material may be shared with a multistate |
21 | | licensing system, federal and state regulatory officials |
22 | | with relevant oversight authority, and law enforcement |
23 | | without the loss of privilege or the loss of |
24 | | confidentiality protections. |
25 | | (2) The Secretary is authorized to enter into |
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1 | | agreements or sharing arrangements with other governmental |
2 | | agencies, the Conference of State Bank Supervisors, and |
3 | | other associations representing governmental agencies. |
4 | | (3) Information or material that is privileged or |
5 | | confidential under this Act as determined by the Secretary |
6 | | is not subject to the following: |
7 | | (A) disclosure under any State law governing the |
8 | | disclosure to the public of information held by an |
9 | | officer or an agency of the State; or |
10 | | (B) subpoena, discovery, or admission into |
11 | | evidence, in any private civil action or |
12 | | administrative process except as authorized by the |
13 | | Secretary. |
14 | | (4) Any other law relating to the disclosure of |
15 | | confidential supervisory information that is inconsistent |
16 | | with this Act shall be superseded by the requirements of |
17 | | this Section to the extent the other law provides less |
18 | | confidentiality or a weaker privilege for information that |
19 | | is privileged or confidential under this Act. |
20 | | (5) Confidential or privileged information received |
21 | | from a multistate licensing system, another licensing |
22 | | body, federal and state regulatory officials, or law |
23 | | enforcement shall be protected to the same extent as the |
24 | | Secretary's confidential and privileged information is |
25 | | protected under this Act. The Secretary may also protect |
26 | | from disclosure confidential or privileged information |
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1 | | that would be exempt from disclosure to the extent it is |
2 | | held directly by the multistate licensing system, another |
3 | | licensing body, federal and state regulatory officials, or |
4 | | law enforcement. |
5 | | Section 100. Appeal and review. |
6 | | (a) The Secretary may, in accordance with the Illinois |
7 | | Administrative Procedure Act, adopt rules to provide for |
8 | | review within the Department of their decisions affecting the |
9 | | rights of persons under this Act. The review shall provide |
10 | | for, at a minimum: |
11 | | (1) appointment of a hearing officer; |
12 | | (2) appropriate procedural rules, specific deadlines |
13 | | for filings, and standards of evidence and of proof; and |
14 | | (3) provisions for apportioning costs among parties to |
15 | | the appeal. |
16 | | (b) All final agency determinations of appeals to |
17 | | decisions of the Secretary may be reviewed in accordance with |
18 | | and under the provisions of the Administrative Review Law. |
19 | | Appeals from all final orders and judgments entered by a court |
20 | | in review of any final administrative decision of the |
21 | | Secretary or of any final agency review of a decision of the |
22 | | Secretary may be taken as in other civil cases. |
23 | | Section 105. Licensure fees. |
24 | | (a) The fee for initial licensure is $2,500. The fee is |
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1 | | nonrefundable. |
2 | | (b) The fee for annual application renewal is $2,500. The |
3 | | fee is nonrefundable. |
4 | | (c) The Department shall impose a contingent fee |
5 | | sufficient to cover its operating expenses in administering |
6 | | this Act not otherwise covered by all other revenue collected |
7 | | under this Act. Each licensee shall pay to the Division its pro |
8 | | rata share, based on number or volume of transactions or |
9 | | revenue, of the cost for administration of this Act that |
10 | | exceeds other fees listed in this Section, as estimated by the |
11 | | Division, for the current year and any deficit actually |
12 | | incurred in the administration of this Act in prior years. |
13 | | Section 110. Cease and desist order. |
14 | | (a) The Secretary may issue a cease and desist order to any |
15 | | licensee or person doing business without the required |
16 | | license, when in the opinion of the Secretary the licensee or |
17 | | other person has violated, is violating, or is about to |
18 | | violate any provision of this Act or any rule adopted by the |
19 | | Department under this Act or any requirement imposed in |
20 | | writing by the Department as a condition of granting any |
21 | | authorization permitted by this Act. The cease and desist |
22 | | order authorized by this Section may be issued prior to a |
23 | | hearing. |
24 | | (b) The Secretary shall serve notice of the cease and |
25 | | desist order, either personally or by certified mail. Service |
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1 | | by certified mail shall be deemed completed when the notice is |
2 | | deposited in the U.S. Mail. The Secretary's notice shall |
3 | | include a statement of the reasons for the action. |
4 | | (c) Within 10 days after service of the cease and desist |
5 | | order, the person subject to the cease and desist order may |
6 | | request a hearing in writing. The Secretary shall schedule a |
7 | | preliminary hearing within 60 days after the request for a |
8 | | hearing unless the parties agree to a later date. |
9 | | (d) If it is determined that the Secretary had the |
10 | | authority to issue the cease and desist order, the Secretary |
11 | | may issue the orders as may be reasonably necessary to |
12 | | correct, eliminate, deter, or remedy the conduct described in |
13 | | the order and resulting harms. |
14 | | (e) The powers vested in the Secretary by this Section are |
15 | | additional to all other powers and remedies vested in the |
16 | | Secretary by any law. Nothing in this Section shall be |
17 | | construed as requiring that the Secretary shall employ the |
18 | | power conferred in this Section instead of or as a condition |
19 | | precedent to the exercise of any other power or remedy vested |
20 | | in the Secretary. |
21 | | Section 115. Injunctions. The Secretary may maintain an |
22 | | action in the name of the people of the State of Illinois and |
23 | | may apply for an injunction in the circuit court to enjoin a |
24 | | person from violating this Act or its implementing rules |
25 | | through the Attorney General. |
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1 | | Section 120. Exemptions. This Act does not apply to, and |
2 | | does not place any additional requirements or obligations |
3 | | upon, any of the following: |
4 | | (1) any person or entity is not a provider; |
5 | | (2) a commercial financing transaction secured by real |
6 | | property; |
7 | | (3) a lease as defined in Section 2-A-103 of the |
8 | | Uniform Commercial Code, not including finance leases as |
9 | | defined in paragraph (g) of subsection (1) of Section |
10 | | 2A-103 of the Uniform Commercial Code; or |
11 | | (4) any person or Provider who makes no more than 5 |
12 | | commercial financing transactions in this State in a |
13 | | 12-month period; |
14 | | (5) a single, discrete commercial financing |
15 | | transaction in an amount over $2,500,000; or |
16 | | (6) a commercial financing transaction in which the |
17 | | recipient is a vehicle dealer subject to Section 5-101 or |
18 | | 5-102 of the Illinois Vehicle Code, an affiliate of a |
19 | | dealer, a rental vehicle company as defined in Section 10 |
20 | | of the Renter's Financial Responsibility and Protection |
21 | | Act, or an affiliate of a company under a commercial |
22 | | financing agreement or commercial open-end credit plan of |
23 | | at least $50,000, including any commercial loan made under |
24 | | a commercial financing transaction. |
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1 | | Section 125. Complaint disclosure. All commercial |
2 | | financing shall include a clear and conspicuous notice on how |
3 | | to file a complaint with the Department. |
4 | | Section 130. Rules. The Secretary may adopt rules to enact |
5 | | and enforce this Act, including, but not limited to: |
6 | | (1) rules defining the terms used in this Act and as |
7 | | may be necessary and appropriate to interpret and |
8 | | implement the provisions of this Act; |
9 | | (2) rules for the enforcement and administration of |
10 | | this Act; |
11 | | (3) rules for the protection of consumers and |
12 | | recipients in this State; |
13 | | (4) rules defining improper or fraudulent business |
14 | | practices in connection with commercial financing; |
15 | | (5) rules charging and collecting fees necessary to |
16 | | cover the costs of administering this Act, including, but |
17 | | not limited to registration, investigation, and |
18 | | examination fees; and |
19 | | (6) rules to implement Section 155. |
20 | | Section 135. Violations. |
21 | | (a) Nothing in this Act shall be construed to restrict the |
22 | | exercise of powers or the performance of the duties that the |
23 | | Attorney General is authorized to exercise or perform by law. |
24 | | (b) Any violation of this Act constitutes an unlawful |
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1 | | practice in violation of the Consumer Fraud and Deceptive |
2 | | Business Practices Act. The Attorney General may enforce a |
3 | | violation of this Act as an unlawful practice under the |
4 | | Consumer Fraud and Deceptive Business Practices Act. |
5 | | Section 140. Beginning of licensure. No person shall be |
6 | | required to apply for or obtain a license under this Act before |
7 | | the date established by the Department by rule. The date shall |
8 | | not be before January 1, 2025. |
9 | | Section 145. Beginning of disclosure requirements. No |
10 | | person shall be required to comply with the disclosure |
11 | | requirements set forth in Section 155 before the date |
12 | | established by the Department by rule. The date shall not be |
13 | | before January 1, 2025. |
14 | | Section 155. Commercial financing database. |
15 | | (a) A commercial financing database program is established |
16 | | within the Department. The program shall be administered in |
17 | | accordance with this Section. None of the duties, obligations, |
18 | | contingencies, or consequences of or from the program shall be |
19 | | imposed until 6 months after the Department certifies a |
20 | | commercial financing database under subsection (b). The |
21 | | program shall apply to all commercial financings that are |
22 | | governed by this Act and that are made or taken on or after the |
23 | | inception of the program. |
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1 | | (b) The Department shall certify that a commercial |
2 | | financing database is a commercially reasonable method of |
3 | | reporting. Upon certifying that a commercial financing |
4 | | database is a commercially reasonable method of reporting, the |
5 | | Department shall: |
6 | | (1) provide reasonable notice to all licensees |
7 | | identifying the commercially reasonable method of |
8 | | reporting that is available; and |
9 | | (2) immediately upon certification, require each |
10 | | licensee to use a commercially reasonable method of |
11 | | reporting as a means of complying with subsection (d) of |
12 | | this Section. |
13 | | (c) The database created under this program shall be |
14 | | maintained and administered by the Department. The database |
15 | | shall be designed to allow providers to submit information to |
16 | | the database online. The database shall not be designed to |
17 | | allow providers to retrieve information from the database, |
18 | | except as otherwise provided in this Act. |
19 | | (d) Within 30 days after providing funds to a recipient, |
20 | | the provider shall submit to the commercial financing database |
21 | | the information delineated in this subsection, if applicable |
22 | | to the financing. If at the time funds are provided to a |
23 | | recipient, certain information delineated in this subsection |
24 | | is not known, the provider shall submit the information to the |
25 | | commercial financing database within 30 days after the |
26 | | information becoming ascertainable: |
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1 | | (1) FEIN for the recipient; |
2 | | (2) zip code of the recipient; |
3 | | (3) origination date of the commercial financing; |
4 | | (4) description of collateral, if any, securing |
5 | | commercial financing; |
6 | | (5) term, if any, of the commercial financing at the |
7 | | time of origination; |
8 | | (6) in the case of commercial financing without a |
9 | | specific term at the time of origination, the actual term |
10 | | of the commercial financing when known; |
11 | | (7) financing amount, if applicable; |
12 | | (8) maximum amount of credit made available to |
13 | | recipient, if applicable; |
14 | | (9) the amount of the receivables purchase price paid |
15 | | to the recipient and, if different from the purchase |
16 | | price, the amount disbursed to the recipient after any |
17 | | amount deducted or withheld at disbursement, if |
18 | | applicable; |
19 | | (10) the amount scheduled to be drawn by the recipient |
20 | | at the time the offer is extended, if applicable; |
21 | | (11) all fees charged to the recipient at or before |
22 | | the origination date of the commercial financing; |
23 | | (12) all fees, charges, and interest scheduled to be |
24 | | charged over the term of the commercial financing, if |
25 | | applicable; |
26 | | (13) all fees, charges, and interest scheduled to be |
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1 | | charged during any month in which the recipient has a |
2 | | balance on an open-end commercial financing, if |
3 | | applicable; and |
4 | | (14) the APR or Estimated APR, if required by the |
5 | | Department; and |
6 | | (15) all other information requested by the |
7 | | Department. |
8 | | (e) All personally identifiable information and |
9 | | information identifying the identity of a recipient obtained |
10 | | by way of the commercial financing database is strictly |
11 | | confidential and shall be exempt from disclosure under the |
12 | | Freedom of Information Act and any other law or regulation |
13 | | pertaining to the disclosure of information or documents. The |
14 | | Department may, by rule, identify any additional categories of |
15 | | information the disclosure of which would be contrary to the |
16 | | public interest. Any request for production of information |
17 | | from the commercial financing database, whether by subpoena, |
18 | | notice, or any other source, shall be referred to the |
19 | | Department. Any recipient may authorize in writing the release |
20 | | of database information. The Department may use the |
21 | | information in the database without the consent of the |
22 | | recipient or the licensee: |
23 | | (1) for the purposes of administering and enforcing |
24 | | the program; |
25 | | (2) to prepare industry-level reports; |
26 | | (3) to provide information to the appropriate law |
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1 | | enforcement agency or the applicable administrative or |
2 | | regulatory agency with a legitimate interest in the |
3 | | information as determined by the Secretary; |
4 | | (4) as required to comply with applicable law; or |
5 | | (5) in any other manner that the Secretary deems is |
6 | | not contrary to the public interest. |
7 | | (f) A licensee who submits information to a certified |
8 | | database provider in accordance with this Section shall not be |
9 | | liable to any person for any subsequent release or disclosure |
10 | | of that information by the certified database provider, the |
11 | | Department, or any other person acquiring possession of the |
12 | | information, regardless of whether the subsequent release or |
13 | | disclosure was lawful, authorized, or intentional. |
14 | | (g) In certifying a commercially reasonable method of |
15 | | reporting, the Department shall ensure that the commercial |
16 | | financing database: |
17 | | (1) provides real-time access through an Internet |
18 | | connection; |
19 | | (2) is accessible to the Department and to licensees |
20 | | in order to ensure compliance with this Act and in order to |
21 | | provide any other information that the Department deems |
22 | | necessary; |
23 | | (3) requires licensees to input whatever information |
24 | | is required by the Department; |
25 | | (4) maintains a real-time copy of the required |
26 | | reporting information that is available to the Department |
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| | 10300SB2234sam002 | - 59 - | LRB103 28770 RTM 70664 a |
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|
1 | | at all times and is the property of the Department; and |
2 | | (5) contains safeguards to ensure that all information |
3 | | contained in the database regarding consumers is kept |
4 | | strictly confidential. |
5 | | (h) The certified commercial financing database may charge |
6 | | a fee to a licensee not to exceed $1 for each financing entered |
7 | | into the database. The certified commercial financing database |
8 | | shall not charge any additional fees or charges. |
9 | | (i) The certified commercial financing database provider |
10 | | shall produce an annual report for the Department using the |
11 | | data submitted by licensees to the database. The Department |
12 | | may publish this report to the public. |
13 | | Section 160. Severability. The provisions of this Act are |
14 | | severable under Section 1.31 of the Statute on Statutes. |
15 | | Section 900. The Freedom of Information Act is amended by |
16 | | changing Section 7.5 as follows: |
17 | | (5 ILCS 140/7.5) |
18 | | (Text of Section before amendment by P.A. 103-472 ) |
19 | | Sec. 7.5. Statutory exemptions. To the extent provided for |
20 | | by the statutes referenced below, the following shall be |
21 | | exempt from inspection and copying: |
22 | | (a) All information determined to be confidential |
23 | | under Section 4002 of the Technology Advancement and |
|
| | 10300SB2234sam002 | - 60 - | LRB103 28770 RTM 70664 a |
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|
1 | | Development Act. |
2 | | (b) Library circulation and order records identifying |
3 | | library users with specific materials under the Library |
4 | | Records Confidentiality Act. |
5 | | (c) Applications, related documents, and medical |
6 | | records received by the Experimental Organ Transplantation |
7 | | Procedures Board and any and all documents or other |
8 | | records prepared by the Experimental Organ Transplantation |
9 | | Procedures Board or its staff relating to applications it |
10 | | has received. |
11 | | (d) Information and records held by the Department of |
12 | | Public Health and its authorized representatives relating |
13 | | to known or suspected cases of sexually transmissible |
14 | | disease or any information the disclosure of which is |
15 | | restricted under the Illinois Sexually Transmissible |
16 | | Disease Control Act. |
17 | | (e) Information the disclosure of which is exempted |
18 | | under Section 30 of the Radon Industry Licensing Act. |
19 | | (f) Firm performance evaluations under Section 55 of |
20 | | the Architectural, Engineering, and Land Surveying |
21 | | Qualifications Based Selection Act. |
22 | | (g) Information the disclosure of which is restricted |
23 | | and exempted under Section 50 of the Illinois Prepaid |
24 | | Tuition Act. |
25 | | (h) Information the disclosure of which is exempted |
26 | | under the State Officials and Employees Ethics Act, and |
|
| | 10300SB2234sam002 | - 61 - | LRB103 28770 RTM 70664 a |
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|
1 | | records of any lawfully created State or local inspector |
2 | | general's office that would be exempt if created or |
3 | | obtained by an Executive Inspector General's office under |
4 | | that Act. |
5 | | (i) Information contained in a local emergency energy |
6 | | plan submitted to a municipality in accordance with a |
7 | | local emergency energy plan ordinance that is adopted |
8 | | under Section 11-21.5-5 of the Illinois Municipal Code. |
9 | | (j) Information and data concerning the distribution |
10 | | of surcharge moneys collected and remitted by carriers |
11 | | under the Emergency Telephone System Act. |
12 | | (k) Law enforcement officer identification information |
13 | | or driver identification information compiled by a law |
14 | | enforcement agency or the Department of Transportation |
15 | | under Section 11-212 of the Illinois Vehicle Code. |
16 | | (l) Records and information provided to a residential |
17 | | health care facility resident sexual assault and death |
18 | | review team or the Executive Council under the Abuse |
19 | | Prevention Review Team Act. |
20 | | (m) Information provided to the predatory lending |
21 | | database created pursuant to Article 3 of the Residential |
22 | | Real Property Disclosure Act, except to the extent |
23 | | authorized under that Article. |
24 | | (n) Defense budgets and petitions for certification of |
25 | | compensation and expenses for court appointed trial |
26 | | counsel as provided under Sections 10 and 15 of the |
|
| | 10300SB2234sam002 | - 62 - | LRB103 28770 RTM 70664 a |
|
|
1 | | Capital Crimes Litigation Act (repealed) . This subsection |
2 | | (n) shall apply until the conclusion of the trial of the |
3 | | case, even if the prosecution chooses not to pursue the |
4 | | death penalty prior to trial or sentencing. |
5 | | (o) Information that is prohibited from being |
6 | | disclosed under Section 4 of the Illinois Health and |
7 | | Hazardous Substances Registry Act. |
8 | | (p) Security portions of system safety program plans, |
9 | | investigation reports, surveys, schedules, lists, data, or |
10 | | information compiled, collected, or prepared by or for the |
11 | | Department of Transportation under Sections 2705-300 and |
12 | | 2705-616 of the Department of Transportation Law of the |
13 | | Civil Administrative Code of Illinois, the Regional |
14 | | Transportation Authority under Section 2.11 of the |
15 | | Regional Transportation Authority Act, or the St. Clair |
16 | | County Transit District under the Bi-State Transit Safety |
17 | | Act (repealed) . |
18 | | (q) Information prohibited from being disclosed by the |
19 | | Personnel Record Review Act. |
20 | | (r) Information prohibited from being disclosed by the |
21 | | Illinois School Student Records Act. |
22 | | (s) Information the disclosure of which is restricted |
23 | | under Section 5-108 of the Public Utilities Act. |
24 | | (t) (Blank). |
25 | | (u) Records and information provided to an independent |
26 | | team of experts under the Developmental Disability and |
|
| | 10300SB2234sam002 | - 63 - | LRB103 28770 RTM 70664 a |
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1 | | Mental Health Safety Act (also known as Brian's Law). |
2 | | (v) Names and information of people who have applied |
3 | | for or received Firearm Owner's Identification Cards under |
4 | | the Firearm Owners Identification Card Act or applied for |
5 | | or received a concealed carry license under the Firearm |
6 | | Concealed Carry Act, unless otherwise authorized by the |
7 | | Firearm Concealed Carry Act; and databases under the |
8 | | Firearm Concealed Carry Act, records of the Concealed |
9 | | Carry Licensing Review Board under the Firearm Concealed |
10 | | Carry Act, and law enforcement agency objections under the |
11 | | Firearm Concealed Carry Act. |
12 | | (v-5) Records of the Firearm Owner's Identification |
13 | | Card Review Board that are exempted from disclosure under |
14 | | Section 10 of the Firearm Owners Identification Card Act. |
15 | | (w) Personally identifiable information which is |
16 | | exempted from disclosure under subsection (g) of Section |
17 | | 19.1 of the Toll Highway Act. |
18 | | (x) Information which is exempted from disclosure |
19 | | under Section 5-1014.3 of the Counties Code or Section |
20 | | 8-11-21 of the Illinois Municipal Code. |
21 | | (y) Confidential information under the Adult |
22 | | Protective Services Act and its predecessor enabling |
23 | | statute, the Elder Abuse and Neglect Act, including |
24 | | information about the identity and administrative finding |
25 | | against any caregiver of a verified and substantiated |
26 | | decision of abuse, neglect, or financial exploitation of |
|
| | 10300SB2234sam002 | - 64 - | LRB103 28770 RTM 70664 a |
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|
1 | | an eligible adult maintained in the Registry established |
2 | | under Section 7.5 of the Adult Protective Services Act. |
3 | | (z) Records and information provided to a fatality |
4 | | review team or the Illinois Fatality Review Team Advisory |
5 | | Council under Section 15 of the Adult Protective Services |
6 | | Act. |
7 | | (aa) Information which is exempted from disclosure |
8 | | under Section 2.37 of the Wildlife Code. |
9 | | (bb) Information which is or was prohibited from |
10 | | disclosure by the Juvenile Court Act of 1987. |
11 | | (cc) Recordings made under the Law Enforcement |
12 | | Officer-Worn Body Camera Act, except to the extent |
13 | | authorized under that Act. |
14 | | (dd) Information that is prohibited from being |
15 | | disclosed under Section 45 of the Condominium and Common |
16 | | Interest Community Ombudsperson Act. |
17 | | (ee) Information that is exempted from disclosure |
18 | | under Section 30.1 of the Pharmacy Practice Act. |
19 | | (ff) Information that is exempted from disclosure |
20 | | under the Revised Uniform Unclaimed Property Act. |
21 | | (gg) Information that is prohibited from being |
22 | | disclosed under Section 7-603.5 of the Illinois Vehicle |
23 | | Code. |
24 | | (hh) Records that are exempt from disclosure under |
25 | | Section 1A-16.7 of the Election Code. |
26 | | (ii) Information which is exempted from disclosure |
|
| | 10300SB2234sam002 | - 65 - | LRB103 28770 RTM 70664 a |
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|
1 | | under Section 2505-800 of the Department of Revenue Law of |
2 | | the Civil Administrative Code of Illinois. |
3 | | (jj) Information and reports that are required to be |
4 | | submitted to the Department of Labor by registering day |
5 | | and temporary labor service agencies but are exempt from |
6 | | disclosure under subsection (a-1) of Section 45 of the Day |
7 | | and Temporary Labor Services Act. |
8 | | (kk) Information prohibited from disclosure under the |
9 | | Seizure and Forfeiture Reporting Act. |
10 | | (ll) Information the disclosure of which is restricted |
11 | | and exempted under Section 5-30.8 of the Illinois Public |
12 | | Aid Code. |
13 | | (mm) Records that are exempt from disclosure under |
14 | | Section 4.2 of the Crime Victims Compensation Act. |
15 | | (nn) Information that is exempt from disclosure under |
16 | | Section 70 of the Higher Education Student Assistance Act. |
17 | | (oo) Communications, notes, records, and reports |
18 | | arising out of a peer support counseling session |
19 | | prohibited from disclosure under the First Responders |
20 | | Suicide Prevention Act. |
21 | | (pp) Names and all identifying information relating to |
22 | | an employee of an emergency services provider or law |
23 | | enforcement agency under the First Responders Suicide |
24 | | Prevention Act. |
25 | | (qq) Information and records held by the Department of |
26 | | Public Health and its authorized representatives collected |
|
| | 10300SB2234sam002 | - 66 - | LRB103 28770 RTM 70664 a |
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1 | | under the Reproductive Health Act. |
2 | | (rr) Information that is exempt from disclosure under |
3 | | the Cannabis Regulation and Tax Act. |
4 | | (ss) Data reported by an employer to the Department of |
5 | | Human Rights pursuant to Section 2-108 of the Illinois |
6 | | Human Rights Act. |
7 | | (tt) Recordings made under the Children's Advocacy |
8 | | Center Act, except to the extent authorized under that |
9 | | Act. |
10 | | (uu) Information that is exempt from disclosure under |
11 | | Section 50 of the Sexual Assault Evidence Submission Act. |
12 | | (vv) Information that is exempt from disclosure under |
13 | | subsections (f) and (j) of Section 5-36 of the Illinois |
14 | | Public Aid Code. |
15 | | (ww) Information that is exempt from disclosure under |
16 | | Section 16.8 of the State Treasurer Act. |
17 | | (xx) Information that is exempt from disclosure or |
18 | | information that shall not be made public under the |
19 | | Illinois Insurance Code. |
20 | | (yy) Information prohibited from being disclosed under |
21 | | the Illinois Educational Labor Relations Act. |
22 | | (zz) Information prohibited from being disclosed under |
23 | | the Illinois Public Labor Relations Act. |
24 | | (aaa) Information prohibited from being disclosed |
25 | | under Section 1-167 of the Illinois Pension Code. |
26 | | (bbb) Information that is prohibited from disclosure |
|
| | 10300SB2234sam002 | - 67 - | LRB103 28770 RTM 70664 a |
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1 | | by the Illinois Police Training Act and the Illinois State |
2 | | Police Act. |
3 | | (ccc) Records exempt from disclosure under Section |
4 | | 2605-304 of the Illinois State Police Law of the Civil |
5 | | Administrative Code of Illinois. |
6 | | (ddd) Information prohibited from being disclosed |
7 | | under Section 35 of the Address Confidentiality for |
8 | | Victims of Domestic Violence, Sexual Assault, Human |
9 | | Trafficking, or Stalking Act. |
10 | | (eee) Information prohibited from being disclosed |
11 | | under subsection (b) of Section 75 of the Domestic |
12 | | Violence Fatality Review Act. |
13 | | (fff) Images from cameras under the Expressway Camera |
14 | | Act. This subsection (fff) is inoperative on and after |
15 | | July 1, 2025. |
16 | | (ggg) Information prohibited from disclosure under |
17 | | paragraph (3) of subsection (a) of Section 14 of the Nurse |
18 | | Agency Licensing Act. |
19 | | (hhh) Information submitted to the Illinois State |
20 | | Police in an affidavit or application for an assault |
21 | | weapon endorsement, assault weapon attachment endorsement, |
22 | | .50 caliber rifle endorsement, or .50 caliber cartridge |
23 | | endorsement under the Firearm Owners Identification Card |
24 | | Act. |
25 | | (iii) Data exempt from disclosure under Section 50 of |
26 | | the School Safety Drill Act. |
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| | 10300SB2234sam002 | - 68 - | LRB103 28770 RTM 70664 a |
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1 | | (jjj) (hhh) Information exempt from disclosure under |
2 | | Section 30 of the Insurance Data Security Law. |
3 | | (kkk) (iii) Confidential business information |
4 | | prohibited from disclosure under Section 45 of the Paint |
5 | | Stewardship Act. |
6 | | (lll) (Reserved). |
7 | | (mmm) (iii) Information prohibited from being |
8 | | disclosed under subsection (e) of Section 1-129 of the |
9 | | Illinois Power Agency Act. |
10 | | (nnn) Information exempt from disclosure under Section |
11 | | 155 of the Consumer Protections for Small Business Act. |
12 | | (Source: P.A. 102-36, eff. 6-25-21; 102-237, eff. 1-1-22; |
13 | | 102-292, eff. 1-1-22; 102-520, eff. 8-20-21; 102-559, eff. |
14 | | 8-20-21; 102-813, eff. 5-13-22; 102-946, eff. 7-1-22; |
15 | | 102-1042, eff. 6-3-22; 102-1116, eff. 1-10-23; 103-8, eff. |
16 | | 6-7-23; 103-34, eff. 6-9-23; 103-142, eff. 1-1-24; 103-372, |
17 | | eff. 1-1-24; 103-508, eff. 8-4-23; 103-580, eff. 12-8-23; |
18 | | revised 1-2-24.) |
19 | | (Text of Section after amendment by P.A. 103-472 ) |
20 | | Sec. 7.5. Statutory exemptions. To the extent provided for |
21 | | by the statutes referenced below, the following shall be |
22 | | exempt from inspection and copying: |
23 | | (a) All information determined to be confidential |
24 | | under Section 4002 of the Technology Advancement and |
25 | | Development Act. |
|
| | 10300SB2234sam002 | - 69 - | LRB103 28770 RTM 70664 a |
|
|
1 | | (b) Library circulation and order records identifying |
2 | | library users with specific materials under the Library |
3 | | Records Confidentiality Act. |
4 | | (c) Applications, related documents, and medical |
5 | | records received by the Experimental Organ Transplantation |
6 | | Procedures Board and any and all documents or other |
7 | | records prepared by the Experimental Organ Transplantation |
8 | | Procedures Board or its staff relating to applications it |
9 | | has received. |
10 | | (d) Information and records held by the Department of |
11 | | Public Health and its authorized representatives relating |
12 | | to known or suspected cases of sexually transmissible |
13 | | disease or any information the disclosure of which is |
14 | | restricted under the Illinois Sexually Transmissible |
15 | | Disease Control Act. |
16 | | (e) Information the disclosure of which is exempted |
17 | | under Section 30 of the Radon Industry Licensing Act. |
18 | | (f) Firm performance evaluations under Section 55 of |
19 | | the Architectural, Engineering, and Land Surveying |
20 | | Qualifications Based Selection Act. |
21 | | (g) Information the disclosure of which is restricted |
22 | | and exempted under Section 50 of the Illinois Prepaid |
23 | | Tuition Act. |
24 | | (h) Information the disclosure of which is exempted |
25 | | under the State Officials and Employees Ethics Act, and |
26 | | records of any lawfully created State or local inspector |
|
| | 10300SB2234sam002 | - 70 - | LRB103 28770 RTM 70664 a |
|
|
1 | | general's office that would be exempt if created or |
2 | | obtained by an Executive Inspector General's office under |
3 | | that Act. |
4 | | (i) Information contained in a local emergency energy |
5 | | plan submitted to a municipality in accordance with a |
6 | | local emergency energy plan ordinance that is adopted |
7 | | under Section 11-21.5-5 of the Illinois Municipal Code. |
8 | | (j) Information and data concerning the distribution |
9 | | of surcharge moneys collected and remitted by carriers |
10 | | under the Emergency Telephone System Act. |
11 | | (k) Law enforcement officer identification information |
12 | | or driver identification information compiled by a law |
13 | | enforcement agency or the Department of Transportation |
14 | | under Section 11-212 of the Illinois Vehicle Code. |
15 | | (l) Records and information provided to a residential |
16 | | health care facility resident sexual assault and death |
17 | | review team or the Executive Council under the Abuse |
18 | | Prevention Review Team Act. |
19 | | (m) Information provided to the predatory lending |
20 | | database created pursuant to Article 3 of the Residential |
21 | | Real Property Disclosure Act, except to the extent |
22 | | authorized under that Article. |
23 | | (n) Defense budgets and petitions for certification of |
24 | | compensation and expenses for court appointed trial |
25 | | counsel as provided under Sections 10 and 15 of the |
26 | | Capital Crimes Litigation Act (repealed) . This subsection |
|
| | 10300SB2234sam002 | - 71 - | LRB103 28770 RTM 70664 a |
|
|
1 | | (n) shall apply until the conclusion of the trial of the |
2 | | case, even if the prosecution chooses not to pursue the |
3 | | death penalty prior to trial or sentencing. |
4 | | (o) Information that is prohibited from being |
5 | | disclosed under Section 4 of the Illinois Health and |
6 | | Hazardous Substances Registry Act. |
7 | | (p) Security portions of system safety program plans, |
8 | | investigation reports, surveys, schedules, lists, data, or |
9 | | information compiled, collected, or prepared by or for the |
10 | | Department of Transportation under Sections 2705-300 and |
11 | | 2705-616 of the Department of Transportation Law of the |
12 | | Civil Administrative Code of Illinois, the Regional |
13 | | Transportation Authority under Section 2.11 of the |
14 | | Regional Transportation Authority Act, or the St. Clair |
15 | | County Transit District under the Bi-State Transit Safety |
16 | | Act (repealed) . |
17 | | (q) Information prohibited from being disclosed by the |
18 | | Personnel Record Review Act. |
19 | | (r) Information prohibited from being disclosed by the |
20 | | Illinois School Student Records Act. |
21 | | (s) Information the disclosure of which is restricted |
22 | | under Section 5-108 of the Public Utilities Act. |
23 | | (t) (Blank). |
24 | | (u) Records and information provided to an independent |
25 | | team of experts under the Developmental Disability and |
26 | | Mental Health Safety Act (also known as Brian's Law). |
|
| | 10300SB2234sam002 | - 72 - | LRB103 28770 RTM 70664 a |
|
|
1 | | (v) Names and information of people who have applied |
2 | | for or received Firearm Owner's Identification Cards under |
3 | | the Firearm Owners Identification Card Act or applied for |
4 | | or received a concealed carry license under the Firearm |
5 | | Concealed Carry Act, unless otherwise authorized by the |
6 | | Firearm Concealed Carry Act; and databases under the |
7 | | Firearm Concealed Carry Act, records of the Concealed |
8 | | Carry Licensing Review Board under the Firearm Concealed |
9 | | Carry Act, and law enforcement agency objections under the |
10 | | Firearm Concealed Carry Act. |
11 | | (v-5) Records of the Firearm Owner's Identification |
12 | | Card Review Board that are exempted from disclosure under |
13 | | Section 10 of the Firearm Owners Identification Card Act. |
14 | | (w) Personally identifiable information which is |
15 | | exempted from disclosure under subsection (g) of Section |
16 | | 19.1 of the Toll Highway Act. |
17 | | (x) Information which is exempted from disclosure |
18 | | under Section 5-1014.3 of the Counties Code or Section |
19 | | 8-11-21 of the Illinois Municipal Code. |
20 | | (y) Confidential information under the Adult |
21 | | Protective Services Act and its predecessor enabling |
22 | | statute, the Elder Abuse and Neglect Act, including |
23 | | information about the identity and administrative finding |
24 | | against any caregiver of a verified and substantiated |
25 | | decision of abuse, neglect, or financial exploitation of |
26 | | an eligible adult maintained in the Registry established |
|
| | 10300SB2234sam002 | - 73 - | LRB103 28770 RTM 70664 a |
|
|
1 | | under Section 7.5 of the Adult Protective Services Act. |
2 | | (z) Records and information provided to a fatality |
3 | | review team or the Illinois Fatality Review Team Advisory |
4 | | Council under Section 15 of the Adult Protective Services |
5 | | Act. |
6 | | (aa) Information which is exempted from disclosure |
7 | | under Section 2.37 of the Wildlife Code. |
8 | | (bb) Information which is or was prohibited from |
9 | | disclosure by the Juvenile Court Act of 1987. |
10 | | (cc) Recordings made under the Law Enforcement |
11 | | Officer-Worn Body Camera Act, except to the extent |
12 | | authorized under that Act. |
13 | | (dd) Information that is prohibited from being |
14 | | disclosed under Section 45 of the Condominium and Common |
15 | | Interest Community Ombudsperson Act. |
16 | | (ee) Information that is exempted from disclosure |
17 | | under Section 30.1 of the Pharmacy Practice Act. |
18 | | (ff) Information that is exempted from disclosure |
19 | | under the Revised Uniform Unclaimed Property Act. |
20 | | (gg) Information that is prohibited from being |
21 | | disclosed under Section 7-603.5 of the Illinois Vehicle |
22 | | Code. |
23 | | (hh) Records that are exempt from disclosure under |
24 | | Section 1A-16.7 of the Election Code. |
25 | | (ii) Information which is exempted from disclosure |
26 | | under Section 2505-800 of the Department of Revenue Law of |
|
| | 10300SB2234sam002 | - 74 - | LRB103 28770 RTM 70664 a |
|
|
1 | | the Civil Administrative Code of Illinois. |
2 | | (jj) Information and reports that are required to be |
3 | | submitted to the Department of Labor by registering day |
4 | | and temporary labor service agencies but are exempt from |
5 | | disclosure under subsection (a-1) of Section 45 of the Day |
6 | | and Temporary Labor Services Act. |
7 | | (kk) Information prohibited from disclosure under the |
8 | | Seizure and Forfeiture Reporting Act. |
9 | | (ll) Information the disclosure of which is restricted |
10 | | and exempted under Section 5-30.8 of the Illinois Public |
11 | | Aid Code. |
12 | | (mm) Records that are exempt from disclosure under |
13 | | Section 4.2 of the Crime Victims Compensation Act. |
14 | | (nn) Information that is exempt from disclosure under |
15 | | Section 70 of the Higher Education Student Assistance Act. |
16 | | (oo) Communications, notes, records, and reports |
17 | | arising out of a peer support counseling session |
18 | | prohibited from disclosure under the First Responders |
19 | | Suicide Prevention Act. |
20 | | (pp) Names and all identifying information relating to |
21 | | an employee of an emergency services provider or law |
22 | | enforcement agency under the First Responders Suicide |
23 | | Prevention Act. |
24 | | (qq) Information and records held by the Department of |
25 | | Public Health and its authorized representatives collected |
26 | | under the Reproductive Health Act. |
|
| | 10300SB2234sam002 | - 75 - | LRB103 28770 RTM 70664 a |
|
|
1 | | (rr) Information that is exempt from disclosure under |
2 | | the Cannabis Regulation and Tax Act. |
3 | | (ss) Data reported by an employer to the Department of |
4 | | Human Rights pursuant to Section 2-108 of the Illinois |
5 | | Human Rights Act. |
6 | | (tt) Recordings made under the Children's Advocacy |
7 | | Center Act, except to the extent authorized under that |
8 | | Act. |
9 | | (uu) Information that is exempt from disclosure under |
10 | | Section 50 of the Sexual Assault Evidence Submission Act. |
11 | | (vv) Information that is exempt from disclosure under |
12 | | subsections (f) and (j) of Section 5-36 of the Illinois |
13 | | Public Aid Code. |
14 | | (ww) Information that is exempt from disclosure under |
15 | | Section 16.8 of the State Treasurer Act. |
16 | | (xx) Information that is exempt from disclosure or |
17 | | information that shall not be made public under the |
18 | | Illinois Insurance Code. |
19 | | (yy) Information prohibited from being disclosed under |
20 | | the Illinois Educational Labor Relations Act. |
21 | | (zz) Information prohibited from being disclosed under |
22 | | the Illinois Public Labor Relations Act. |
23 | | (aaa) Information prohibited from being disclosed |
24 | | under Section 1-167 of the Illinois Pension Code. |
25 | | (bbb) Information that is prohibited from disclosure |
26 | | by the Illinois Police Training Act and the Illinois State |
|
| | 10300SB2234sam002 | - 76 - | LRB103 28770 RTM 70664 a |
|
|
1 | | Police Act. |
2 | | (ccc) Records exempt from disclosure under Section |
3 | | 2605-304 of the Illinois State Police Law of the Civil |
4 | | Administrative Code of Illinois. |
5 | | (ddd) Information prohibited from being disclosed |
6 | | under Section 35 of the Address Confidentiality for |
7 | | Victims of Domestic Violence, Sexual Assault, Human |
8 | | Trafficking, or Stalking Act. |
9 | | (eee) Information prohibited from being disclosed |
10 | | under subsection (b) of Section 75 of the Domestic |
11 | | Violence Fatality Review Act. |
12 | | (fff) Images from cameras under the Expressway Camera |
13 | | Act. This subsection (fff) is inoperative on and after |
14 | | July 1, 2025. |
15 | | (ggg) Information prohibited from disclosure under |
16 | | paragraph (3) of subsection (a) of Section 14 of the Nurse |
17 | | Agency Licensing Act. |
18 | | (hhh) Information submitted to the Illinois State |
19 | | Police in an affidavit or application for an assault |
20 | | weapon endorsement, assault weapon attachment endorsement, |
21 | | .50 caliber rifle endorsement, or .50 caliber cartridge |
22 | | endorsement under the Firearm Owners Identification Card |
23 | | Act. |
24 | | (iii) Data exempt from disclosure under Section 50 of |
25 | | the School Safety Drill Act. |
26 | | (jjj) (hhh) Information exempt from disclosure under |
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1 | | Section 30 of the Insurance Data Security Law. |
2 | | (kkk) (iii) Confidential business information |
3 | | prohibited from disclosure under Section 45 of the Paint |
4 | | Stewardship Act. |
5 | | (lll) (iii) Data exempt from disclosure under Section |
6 | | 2-3.196 of the School Code. |
7 | | (mmm) (iii) Information prohibited from being |
8 | | disclosed under subsection (e) of Section 1-129 of the |
9 | | Illinois Power Agency Act. |
10 | | (nnn) Information exempt from disclosure under Section |
11 | | 155 of the Consumer Protections for Small Business Act. |
12 | | (Source: P.A. 102-36, eff. 6-25-21; 102-237, eff. 1-1-22; |
13 | | 102-292, eff. 1-1-22; 102-520, eff. 8-20-21; 102-559, eff. |
14 | | 8-20-21; 102-813, eff. 5-13-22; 102-946, eff. 7-1-22; |
15 | | 102-1042, eff. 6-3-22; 102-1116, eff. 1-10-23; 103-8, eff. |
16 | | 6-7-23; 103-34, eff. 6-9-23; 103-142, eff. 1-1-24; 103-372, |
17 | | eff. 1-1-24; 103-472, eff. 8-1-24; 103-508, eff. 8-4-23; |
18 | | 103-580, eff. 12-8-23; revised 1-2-24.) |
19 | | Section 905. The Consumer Fraud and Deceptive Business |
20 | | Practices Act is amended by adding Section 2EEEE as follows: |
21 | | (815 ILCS 505/2EEEE new) |
22 | | Sec. 2EEEE. Violations of the Consumer Protections for |
23 | | Small Business Act. Any person who violates the Consumer |
24 | | Protections for Small Business Act commits an unlawful |
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1 | | practice within the meaning of this Act. |
2 | | Section 995. No acceleration or delay. Where this Act |
3 | | makes changes in a statute that is represented in this Act by |
4 | | text that is not yet or no longer in effect (for example, a |
5 | | Section represented by multiple versions), the use of that |
6 | | text does not accelerate or delay the taking effect of (i) the |
7 | | changes made by this Act or (ii) provisions derived from any |
8 | | other Public Act. |
9 | | Section 999. Effective date. This Act takes effect upon |
10 | | becoming law.". |