Full Text of HB5033 97th General Assembly
HB5033 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 HB5033 Introduced 2/7/2012, by Rep. Angelo Saviano SYNOPSIS AS INTRODUCED: |
|
205 ILCS 405/3.3 | from Ch. 17, par. 4807 |
|
Amends the Currency Exchange Act. Provides that, upon receipt of an application by a currency exchange to provide additional services to the public, the Secretary of Financial and Professional Regulation shall approve or deny the application within 45 days after the filing of a complete application. Provides that, if the application is denied, the applicant may, within 10 days after the date of the notice of denial, request a hearing. Provides that a public hearing must be held before the Secretary may revoke any authorization for a currency exchange to provide additional services to the public.
|
| |
| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
|
| | | HB5033 | | LRB097 18780 PJG 64016 b |
|
| 1 | | AN ACT concerning regulation.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Currency Exchange Act is amended by changing | 5 | | Section 3.3 as follows:
| 6 | | (205 ILCS 405/3.3) (from Ch. 17, par. 4807)
| 7 | | Sec. 3.3. Additional public services.
| 8 | | (a) Nothing in this Act shall prevent the Secretary from | 9 | | authorizing
a currency exchange, group of currency exchanges, | 10 | | or association of currency exchanges to render additional | 11 | | services to the public if the services
are consistent with the | 12 | | provisions of this Act, are within its meaning,
are in the best | 13 | | interest of the public, and benefit the general welfare. A | 14 | | currency exchange, group of currency exchanges, or association | 15 | | of currency exchanges must request, in writing, the Secretary's | 16 | | approval of the additional service prior to rendering such | 17 | | additional service to the public. Any approval under this | 18 | | Section shall be deemed an approval for all currency exchanges. | 19 | | Any currency exchange wishing to provide an additional service | 20 | | as approved by the Secretary must provide notice to the | 21 | | Secretary 30 days prior to offering the approved additional | 22 | | service to the public. The Secretary may charge an additional | 23 | | service investigation fee of $500 per application. Upon receipt |
| | | HB5033 | - 2 - | LRB097 18780 PJG 64016 b |
|
| 1 | | of an application, the Secretary shall examine the application | 2 | | for completeness and notify the applicant of any deficiency | 3 | | within 10 days after receipt. The Secretary shall approve or | 4 | | deny every application within 45 days after the filing of a | 5 | | complete application. If the application is denied, the | 6 | | Secretary shall send by United States mail notice of the denial | 7 | | to the applicant at the address set forth in the application. | 8 | | If an application is denied, the applicant may, within 10 days | 9 | | after the date of the notice of denial, make a written request | 10 | | to the Secretary for a hearing on the application, and the | 11 | | Secretary shall set a time and place for the hearing. The | 12 | | hearing shall be set for a date after the receipt by the | 13 | | Secretary of the request for hearing, and written notice of the | 14 | | time and place of the hearing shall be mailed to the applicant | 15 | | at least 15 days before the date of the hearing. The applicant | 16 | | shall pay the actual cost of making the transcript of the | 17 | | hearing prior to the Secretary's issuing his decision following | 18 | | the hearing. If, following the hearing, the application is | 19 | | denied, the Secretary shall, within 20 days thereafter, prepare | 20 | | and keep on file in his or her office a written order of the | 21 | | denial, which shall contain his or her findings and the reasons | 22 | | supporting the denial, and shall send by United States mail a | 23 | | copy of the written order of denial to the applicant at the | 24 | | address set forth in the application, within 5 days after the | 25 | | filing of the order. The Secretary's decision may be subject to | 26 | | review as provided in Section 22.01 of this Act. The Secretary |
| | | HB5033 | - 3 - | LRB097 18780 PJG 64016 b |
|
| 1 | | may, at his or her discretion, after a public hearing held at | 2 | | least 30 days after the giving of written notice to the | 3 | | affected currency exchange, revoke any authorization under | 4 | | this Section after giving on 60 days' days written notice to | 5 | | the affected currency exchange. If a previously granted | 6 | | application is revoked after a public hearing, the Secretary | 7 | | shall, within 20 days thereafter, prepare and keep on file in | 8 | | his or her office a written order of revocation, which shall | 9 | | contain his or her findings and the reasons supporting the | 10 | | revocation, and shall send by United States mail a copy of the | 11 | | written order of revocation to the applicant at the address set | 12 | | forth in the application, within 5 days after the filing of the | 13 | | order. The Secretary's decision may be subject to review as | 14 | | provided in Section 22.01 of this Act.
| 15 | | (b) (Blank).
| 16 | | (Source: P.A. 97-315, eff. 1-1-12.)
|
|