Full Text of HB3784 98th General Assembly
HB3784sam005 98TH GENERAL ASSEMBLY | Sen. Don Harmon Filed: 5/27/2014
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| 1 | | AMENDMENT TO HOUSE BILL 3784
| 2 | | AMENDMENT NO. ______. Amend House Bill 3784, AS AMENDED, by | 3 | | replacing everything after the enacting clause with the | 4 | | following:
| 5 | | "Section 5. The Currency Exchange Act is amended by | 6 | | changing Sections 1, 3, 3.3, 4.1, 5, 8, 9, 10, 11, 15, and 18 as | 7 | | follows:
| 8 | | (205 ILCS 405/1) (from Ch. 17, par. 4802)
| 9 | | Sec. 1. Definitions; application of Act. | 10 | | (a) For the purposes of this Act:
| 11 | | "Community currency exchange" means
any person, firm, | 12 | | association, partnership, limited liability company, or
| 13 | | corporation, except an
ambulatory currency exchange as | 14 | | hereinafter defined, banks incorporated
under the laws of this | 15 | | State and National Banks organized pursuant to the
laws of the | 16 | | United States, engaged in the business or service of, and
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| 1 | | providing facilities for, cashing checks, drafts, money orders | 2 | | or any other
evidences of money acceptable to such community | 3 | | currency exchange, for a
fee or service charge or other | 4 | | consideration, or engaged in the business of
selling or issuing | 5 | | money orders under his or their or its name, or any
other money | 6 | | orders (other than United States Post Office money orders,
| 7 | | Postal Telegraph Company money orders, or Western Union | 8 | | Telegraph Company
money orders), or engaged in both such | 9 | | businesses, or engaged in performing
any one or more of the | 10 | | foregoing services.
| 11 | | "Controlling person" means an officer, director, or person | 12 | | owning or holding power to vote 10% or more of the outstanding | 13 | | voting securities of a licensee or the power to vote the | 14 | | securities of another controlling person of the licensee. For | 15 | | the purposes of
determining the percentage of a licensee | 16 | | controlled by a controlling person, the person's interest shall | 17 | | be combined with the interest of any other person controlled, | 18 | | directly or indirectly, by that person or by a spouse, parent, | 19 | | or child of that person. | 20 | | "Department" means the Department of Financial and | 21 | | Professional Regulation. | 22 | | "Director" means the Director of the Division of Financial | 23 | | Institutions of the Department of Financial and Professional | 24 | | Regulation. | 25 | | "Division of Financial Institutions" means the Division of | 26 | | Financial Institutions of the Department of Financial and |
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| 1 | | Professional Regulation. | 2 | | "Ambulatory Currency Exchange" means any person, firm, | 3 | | association,
partnership, limited liability company, or | 4 | | corporation, except banks organized under the laws of this
| 5 | | State and National Banks organized pursuant to the laws of the | 6 | | United
States, engaged in one or both of the foregoing | 7 | | businesses, or engaged in
performing any one or more of the | 8 | | foregoing services, solely on the
premises of the employer | 9 | | whose employees are being served.
| 10 | | "Location" when used with reference to an ambulatory | 11 | | currency exchange
means the premises of the employer whose | 12 | | employees are or are to be served
by an ambulatory currency | 13 | | exchange.
| 14 | | "Secretary" means the Secretary of Financial and | 15 | | Professional Regulation or a person authorized by the Secretary | 16 | | or this Act to act in the Secretary's stead. All references in | 17 | | this Act to the Secretary shall be deemed to include the | 18 | | Director, as a person authorized by the Secretary or this Act | 19 | | to assume responsibility for the oversight of the functions of | 20 | | the Department relative to the regulatory supervision of | 21 | | community currency exchanges and ambulatory currency exchanges | 22 | | under this Act.
| 23 | | (b) Nothing in this Act shall be held to apply to any | 24 | | person, firm,
association, partnership, limited liability | 25 | | company, or corporation who is
engaged primarily in the
| 26 | | business of transporting for hire, bullion, currency, |
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| 1 | | securities,
negotiable or non-negotiable documents, jewels or | 2 | | other property of great
monetary value and who in the course of | 3 | | such business and only as an
incident thereto, cashes checks, | 4 | | drafts, money orders or other evidences of
money directly for, | 5 | | or for the employees of and with the funds of and at a
cost only | 6 | | to, the person, firm, association, partnership, limited | 7 | | liability
company, or corporation for
whom he or it is then | 8 | | actually transporting such bullion, currency,
securities, | 9 | | negotiable or non-negotiable documents, jewels, or other
| 10 | | property of great monetary value, pursuant to a written | 11 | | contract for such
transportation and all incidents thereof, nor | 12 | | shall it apply to any person,
firm, association, partnership, | 13 | | limited liability company, or corporation
engaged in the | 14 | | business of
selling tangible personal property at retail who, | 15 | | in the course of such
business and only as an incident thereto, | 16 | | cashes checks, drafts, money
orders or other evidences of | 17 | | money.
| 18 | | (Source: P.A. 97-315, eff. 1-1-12.)
| 19 | | (205 ILCS 405/3) (from Ch. 17, par. 4804)
| 20 | | Sec. 3. Powers of community currency exchanges. No | 21 | | community or
ambulatory currency exchange shall be
permitted to | 22 | | accept money or evidences of money as a deposit to be
returned | 23 | | to the depositor or upon the depositor's order. No
community or | 24 | | ambulatory currency exchange shall be permitted to act as
| 25 | | bailee or agent for persons, firms, partnerships, limited |
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| 1 | | liability
companies, associations or
corporations to hold | 2 | | money or evidences thereof or the proceeds
therefrom for the | 3 | | use and benefit of the owners thereof, and deliver
such money | 4 | | or proceeds of evidence of money upon request and direction
of | 5 | | such owner or owners. Nothing in this Act shall prevent a | 6 | | currency exchange from accepting any check without regard to | 7 | | the date imprinted on the check, subject to Section 4-404 of | 8 | | the Uniform Commercial Code, as long as the check is | 9 | | immediately cashed, deposited, and processed in the ordinary | 10 | | course of business. A community or ambulatory currency exchange | 11 | | is permitted to engage in, and charge a fee for, the following | 12 | | activities, either directly or as a third-party agent: (i) | 13 | | cashing of checks, drafts, money orders, or any other evidences | 14 | | of money acceptable to the currency exchange, (ii) selling or | 15 | | issuing money orders, (iii) obtaining reports, certificates, | 16 | | governmental permits, licenses, and vital statistics and the | 17 | | preparation of necessary applications to obtain the same, (iv) | 18 | | the sale and distribution of bond cards, (v) obtaining, | 19 | | distributing, providing, or selling: State vehicle | 20 | | registration renewals, title transfers and tax remittance | 21 | | forms, city vehicle licenses, and other governmental services, | 22 | | (vi) photocopying and sending and receiving facsimile | 23 | | transmissions, (vii) notary service either by the proprietor of | 24 | | the currency exchange or any currency exchange employee, | 25 | | authorized by the State to act as a notary public, (viii) | 26 | | issuance of travelers checks obtained by the currency exchange |
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| 1 | | from a banking institution under a trust receipt, (ix) | 2 | | accepting for payment utility and other companies' bills, (x) | 3 | | issuance and acceptance of any third-party debit, credit, or | 4 | | stored value card and loading or unloading, (xi) on-premises | 5 | | automated cash dispensing machines, (xii) sale of rolled coin | 6 | | and paper money, (xiii) exchange of foreign currency through a | 7 | | third-party, (xiv) sale of cards, passes, or tokens for public | 8 | | transit, (xv) providing mail box service, (xvi) sale of phone | 9 | | cards and other pre-paid telecommunication services, (xvii) | 10 | | on-premises public telephone, (xviii) sale of U.S. postage, | 11 | | (xix) money transmission through a licensed third-party money | 12 | | transmitter, (xx) sale of candy, gum, other packaged foods, | 13 | | soft drinks, and other products and services by means of | 14 | | on-premises vending machines and self-service automated | 15 | | terminals , and (xxi) transmittal of documents or information | 16 | | upon the request of a consumer, (xxii) advertising upon and | 17 | | about the premises and distribution to consumers of advertising | 18 | | and other materials of any legal product or service that is not | 19 | | misleading to the public, (xxiii) providing consumers with the | 20 | | service of third-party travel reservations and ticketing | 21 | | services, and (xxiv) other products and services as may be | 22 | | approved by the Secretary.
Any community or ambulatory currency | 23 | | exchange may enter into
agreements with any utility and other | 24 | | companies to act as the companies'
agent for the acceptance of | 25 | | payment of utility and other
companies' bills without charge
to | 26 | | the customer and,
acting under such agreement, may receipt for |
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| 1 | | payments in the
names of the utility and other companies. Any | 2 | | community or
ambulatory currency exchange may also receive | 3 | | payment of
utility and other companies' bills for remittance to | 4 | | companies
with which it has no such agency agreement and may | 5 | | charge a fee
for such service but may not, in such cases, issue | 6 | | a receipt for such
payment in the names of the utility and | 7 | | other companies.
However, funds received by currency exchanges | 8 | | for remittance
to utility and other companies with which the | 9 | | currency exchange
has no agency agreement shall be forwarded to | 10 | | the appropriate
utility and other companies by the currency | 11 | | exchange before the
end of the next business day. | 12 | | For the purpose of this Section, "utility and other | 13 | | companies" means any utility company and other company with | 14 | | which the currency exchange may or may not have a contractual | 15 | | agreement and for which the currency exchange accepts payments | 16 | | from consumers for remittance to the utility or other company | 17 | | for the payment of bills.
| 18 | | (Source: P.A. 97-315, eff. 1-1-12.)
| 19 | | (205 ILCS 405/3.3) (from Ch. 17, par. 4807)
| 20 | | Sec. 3.3. Additional public services.
| 21 | | (a) Nothing in this Act shall prevent the Secretary from | 22 | | authorizing
a currency exchange, group of currency exchanges, | 23 | | or association of currency exchanges to render additional | 24 | | services to the public if the services
are consistent with the | 25 | | provisions of this Act, are within its meaning,
are in the best |
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| 1 | | interest of the public, and benefit the general welfare. A | 2 | | currency exchange, group of currency exchanges, or association | 3 | | of currency exchanges must request, in writing, the Secretary's | 4 | | approval of the additional service prior to rendering such | 5 | | additional service to the public. Any approval under this | 6 | | Section shall be deemed an approval for all currency exchanges. | 7 | | Any currency exchange wishing to provide an additional service | 8 | | previously approved by the Secretary must provide written | 9 | | notice, on a form provided by the Department and available on | 10 | | its website, to the Secretary 30 days prior to offering the | 11 | | approved additional service to the public. The Secretary may | 12 | | charge an additional service investigation fee of $500 per | 13 | | application for a new additional service request. The | 14 | | additional service request shall be on a form provided by the | 15 | | Department and available on the Department's website. Within 15 | 16 | | days after receipt by the Department of an additional service | 17 | | request, the Secretary shall examine the additional service | 18 | | request for completeness and notify the requester of any | 19 | | defect. The requester must remedy the defect within 10 days | 20 | | after the mailing of the notification of the defect by the | 21 | | Secretary. Failure to remedy the defect within such time will | 22 | | void the additional service request.
If the Secretary | 23 | | determines that the additional service request is complete, the | 24 | | Secretary shall have 60 business days to approve or deny the | 25 | | additional service request. If the additional service request | 26 | | is denied, the Secretary shall send by United States mail |
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| 1 | | notice of the denial to the requester at the address set forth | 2 | | in the additional service request , together with the reasons | 3 | | therefor stated with particularity that the additional service | 4 | | is not consistent with the provisions of this Act or in the | 5 | | best interest of the public and does not benefit the general | 6 | | welfare . If an additional service request is denied, the | 7 | | requester may, within 10 days after receipt of the denial, make | 8 | | a written request to the Secretary for a hearing on the | 9 | | additional service request denial. The hearing shall be set for | 10 | | a date after the receipt by the Secretary of the request for a | 11 | | hearing, and written notice of the time and place of the | 12 | | hearing shall be mailed to the requester no later than 15 days | 13 | | before the date of the hearing. The hearing shall be scheduled | 14 | | for a date within 56 days after the date of the receipt of the | 15 | | request for a hearing. The requester shall pay the actual cost | 16 | | of making the transcript of the hearing prior to the | 17 | | Secretary's issuing his or her decision following the hearing. | 18 | | If the Secretary denies the request for a new additional | 19 | | service, a currency exchange shall not offer the new additional | 20 | | service until a final administrative order has been entered | 21 | | permitting a currency exchange to offer the service.
The | 22 | | Secretary's
decision may be subject to review as provided in | 23 | | Section 22.01
of this Act.
If the Secretary revokes a | 24 | | previously approved authorization for an additional service | 25 | | request, the Secretary shall provide written notice to all | 26 | | affected currency exchange licensees , together with the |
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| 1 | | reasons therefor stated with particularity, that the | 2 | | additional service is no longer consistent with the provisions | 3 | | of this Act or in the best interest of the public and does not | 4 | | benefit the general welfare . Upon receipt of the revocation | 5 | | notice, a currency exchange licensee, group of currency | 6 | | exchange licensees, or association of currency exchanges shall | 7 | | have 10 days to make a written request to the Secretary for a | 8 | | hearing, and the Department shall have 30 business days to | 9 | | schedule a future hearing. Written notice of the time and place | 10 | | of the hearing shall be mailed to the licensee no later than 10 | 11 | | business days before the date of the hearing. The licensee | 12 | | shall pay the actual cost of making the transcript prior to the | 13 | | Secretary's issuing his or her decision following the hearing.
| 14 | | The Secretary's decision
is subject to review as provided in | 15 | | Section 22.01 of this
Act.
| 16 | | (b) (Blank). | 17 | | (c) If the Secretary revokes authorization for a previously | 18 | | approved additional service, the currency exchange may | 19 | | continue to offer the additional service until a
final | 20 | | administrative order has been entered revoking the licensee's | 21 | | previously approved authorization.
| 22 | | (Source: P.A. 97-315, eff. 1-1-12; 97-1111, eff. 8-27-12.)
| 23 | | (205 ILCS 405/4.1) (from Ch. 17, par. 4809)
| 24 | | Sec. 4.1. Application; investigation; community need. | 25 | | (a) The General Assembly finds and declares that community |
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| 1 | | currency
exchanges provide important and vital services to | 2 | | Illinois citizens, that
the number of community currency | 3 | | exchanges should be limited in accordance
with the needs of the | 4 | | communities they are to serve, and that it is in the
public | 5 | | interest to promote and foster the community currency exchange | 6 | | business
and to insure the financial stability thereof. | 7 | | (b) Upon receipt of an application
for a license for a | 8 | | community
currency exchange, the Secretary shall cause an | 9 | | investigation to determine: | 10 | | (1)
of the need of the community
for the establishment | 11 | | of a community currency exchange at the location
specified | 12 | | in the application ; and | 13 | | (2) the effect that granting the license
will have on | 14 | | the financial stability of other community currency | 15 | | exchanges
that may be serving the community in which the | 16 | | business of the applicant
is proposed to be conducted.
| 17 | | (c) "Community", as used in this Act, means a locality | 18 | | where there may or
can be available to the people thereof the | 19 | | services of a community currency
exchange reasonably | 20 | | accessible to them , but in no case less than a one-half mile | 21 | | radius from the location specified in an application for a | 22 | | license for a community currency exchange . | 23 | | (d) If the issuance of a license to
engage in the community | 24 | | currency exchange business at the location
specified will not | 25 | | promote the needs and the convenience and advantage
of the | 26 | | community in which the business of the applicant is proposed to |
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| 1 | | be
conducted or would have a material and negative effect upon | 2 | | the financial stability of other currency exchanges as | 3 | | described in paragraph (2) of subsection (b) of this Section , | 4 | | then the application shall be denied. Notwithstanding any other | 5 | | provision contained in this Section, the Secretary shall not | 6 | | approve an application to operate a new community currency | 7 | | exchange within a one-half mile radius of any existing licensee | 8 | | located in any municipality with a population exceeding 500,000 | 9 | | or within a one mile radius of any existing licensee located in | 10 | | any municipality
with a population less than 500,000. This | 11 | | provision shall not require the Secretary to deny any | 12 | | application: | 13 | | (1) from the purchaser of the place of business of a | 14 | | licensee that was licensed before the effective date of | 15 | | this amendatory Act of the 98th General Assembly if the | 16 | | purchaser will operate at the specific location occupied by | 17 | | the existing licensee, or within 600 feet of that location; | 18 | | (2) from a licensee requesting to relocate to within | 19 | | 600 feet of the address currently occupied by the licensee; | 20 | | or | 21 | | (3) from an applicant providing written waivers from | 22 | | all existing licensees within the distance limits set forth | 23 | | in this Section. | 24 | | For the purposes of this subsection (d), a community | 25 | | currency exchange business will promote the needs and the | 26 | | convenience and advantage of the community if it will provide a |
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| 1 | | benefit to that community. | 2 | | (e) As a part of the investigation, the Secretary shall, | 3 | | within 10 business days after receipt of an application, notify | 4 | | in writing all currency exchanges as described in paragraph (2) | 5 | | of subsection (b) of this Section of the application and the | 6 | | proposed location. Within 10 business days after the notice, | 7 | | any currency exchange as described in paragraph (2) of | 8 | | subsection (b) of this Section shall notify the Secretary it | 9 | | intends to protest the application. If the currency exchange | 10 | | intends to protest the application, then the currency exchange | 11 | | shall, within 30 days after notifying the Secretary, provide | 12 | | the Secretary with any information requested to substantiate | 13 | | that granting the license would have a material and negative | 14 | | effect upon the financial stability of the existing currency | 15 | | exchange. Once the investigation is complete, the Secretary | 16 | | shall, within 10 business days thereafter, notify any currency | 17 | | exchange as described in paragraph (2) of subsection (b) of | 18 | | this Section of the determination to approve or deny the | 19 | | application. The determination shall sufficiently detail the | 20 | | facts that led to the determination.
| 21 | | (Source: P.A. 97-315, eff. 1-1-12.)
| 22 | | (205 ILCS 405/5) (from Ch. 17, par. 4812)
| 23 | | Sec. 5. Bond; condition; amount.
| 24 | | (a) Before any license shall be issued
to a community
| 25 | | currency exchange the applicant shall file annually with and
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| 1 | | have approved by the Secretary a surety bond, issued by a | 2 | | bonding
company authorized to do business in this State in the | 3 | | principal sum
of $25,000. Such bond shall run to the Secretary | 4 | | and shall
be for the benefit of any creditors of such currency | 5 | | exchange
for any liability incurred by the currency exchange on | 6 | | any
money orders, including any fees and penalties incurred by | 7 | | the remitter should the money order be returned unpaid, issued | 8 | | or sold by the currency exchange in the ordinary course of its | 9 | | business and for
any liability incurred by the currency | 10 | | exchange for any sum or
sums due to any payee or endorsee of | 11 | | any check, draft or money
order left with the currency exchange | 12 | | in the ordinary course of its business for collection, and for
| 13 | | any liability to the public incurred by the currency exchange | 14 | | in the ordinary course of its business in connection
with the | 15 | | rendering of any of the services referred to in
Section 3 of | 16 | | this Act.
| 17 | | To protect the public and allow for the effective | 18 | | underwriting of bonds, the surety bond shall not cover money | 19 | | orders issued and other liabilities incurred by a currency | 20 | | exchange for its own account or that of its controlling | 21 | | persons, including money orders issued or liabilities incurred | 22 | | by the currency exchange to obtain cash for its own operations, | 23 | | to pay for the currency exchange's own bills or liabilities or | 24 | | that of its controlling persons, or to obtain things of value | 25 | | for the currency exchange
or its controlling persons, | 26 | | regardless of whether such things of value are used in the |
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| 1 | | currency exchange's operations or sold by the currency | 2 | | exchange. | 3 | | From time to time the Secretary may determine the amount of | 4 | | liabilities
as described herein and shall require the licensee | 5 | | to file a bond in an
additional sum if the same is determined | 6 | | to be necessary in accordance with
the requirements of this | 7 | | Section. In no case shall the bond be less than
the initial | 8 | | $25,000, nor more than the outstanding liabilities.
| 9 | | (b) In lieu of the surety bond requirements of subsection | 10 | | (a), a community
currency exchange licensee may submit evidence | 11 | | satisfactory to the Secretary
that the community currency | 12 | | exchange licensee is covered by a blanket bond that
covers | 13 | | multiple licensees who are members of a statewide association | 14 | | of
community currency exchanges. Such a blanket bond must be | 15 | | issued by a bonding
company authorized to do business in this | 16 | | State and in a principal aggregate
sum of not less than | 17 | | $3,000,000 as of May 1, 2012, and not less than $4,000,000 as | 18 | | of May 1, 2014.
| 19 | | (c) An ambulatory currency exchange may sell or issue money | 20 | | orders
at any location with regard to which it
is issued a | 21 | | license pursuant to this Act, including existing
licensed | 22 | | locations, without the necessity of a further
application or | 23 | | hearing and without regard to any exceptions
contained in | 24 | | existing licenses, upon the filing with
the Secretary of a | 25 | | surety bond approved by the Secretary and issued by a bonding
| 26 | | company
or insurance company authorized to do business in |
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| 1 | | Illinois,
in the principal sum of $100,000. Such bond may be a | 2 | | blanket
bond covering all locations at which the ambulatory | 3 | | currency
exchange may sell or issue money orders,
and shall run | 4 | | to the Secretary for the
use and benefit of any creditors of | 5 | | such ambulatory currency
exchange for any liability incurred by | 6 | | the ambulatory currency
exchange on any money orders issued or | 7 | | sold by it to the public in the ordinary course of its | 8 | | business .
Such bond shall be renewed annually. If after
the | 9 | | expiration of one year from the date of approval of such
bond | 10 | | by the Secretary, it shall appear that the average amount
of | 11 | | such liability during the year has exceeded $100,000,
the | 12 | | Secretary shall require the licensee to furnish a bond for
the | 13 | | ensuing year, to be approved by the Secretary,
for an | 14 | | additional principal sum of $1,000 for each $1,000 of
such | 15 | | liability or fraction thereof in excess of the original
| 16 | | $100,000, except that the maximum amount of such bond shall not | 17 | | be required to
exceed $250,000.
| 18 | | (Source: P.A. 97-315, eff. 1-1-12.)
| 19 | | (205 ILCS 405/8) (from Ch. 17, par. 4815)
| 20 | | Sec. 8.
A community or an ambulatory currency exchange | 21 | | shall not be
conducted as a department of another business. It | 22 | | must be an entity,
financed and conducted as a separate | 23 | | business unit. This shall not prevent
a community or an | 24 | | ambulatory currency exchange from leasing a part of the
| 25 | | premises of another business for the conduct of this business |
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| 1 | | on the same
premises; provided, that no community currency | 2 | | exchange shall be conducted
on the same premises with a | 3 | | business whose chief source of revenue is
derived from the sale | 4 | | of alcoholic liquor ; and further provided, that all records of | 5 | | the currency exchange shall be kept in a manner that is secure | 6 | | and inaccessible from anyone not authorized by the currency | 7 | | exchange for consumption on the premises;
provided, further, | 8 | | that no community currency exchange hereafter licensed
for the | 9 | | first time shall share any room with any other business, trade | 10 | | or
profession nor shall it occupy any room from which there is | 11 | | direct access
to a room occupied by any other business, trade | 12 | | or profession .
| 13 | | (Source: Laws 1951, p. 562.)
| 14 | | (205 ILCS 405/9) (from Ch. 17, par. 4816)
| 15 | | Sec. 9.
No community or ambulatory currency exchange shall | 16 | | issue
tokens to be used in lieu of money for the purchase of | 17 | | goods or services
from any enterprise , except that currency | 18 | | exchanges may engage in
the distribution of food stamps as | 19 | | authorized by Section 3.2 .
| 20 | | (Source: P.A. 80-439.)
| 21 | | (205 ILCS 405/10) (from Ch. 17, par. 4817)
| 22 | | Sec. 10. Qualifications of applicant; denial of license; | 23 | | review. The
applicant, and its controlling persons officers, | 24 | | directors and
stockholders, if a corporation,
and its managers |
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| 1 | | and members, if a liability company, shall be vouched for
by 2 | 2 | | reputable citizens of this State setting forth
that the | 3 | | individual mentioned is (a) personally known to them to be
| 4 | | trustworthy and reputable, (b) that he has business experience | 5 | | qualifying
him to competently conduct, operate, own or become | 6 | | associated with a
currency exchange, (c) that he has a good | 7 | | business reputation and is worthy
of a license. Thereafter, the | 8 | | Secretary shall, upon approval of the
application filed with | 9 | | him, issue to the applicant, qualifying under this
Act, a | 10 | | license to operate a currency exchange. If it is a license for | 11 | | a
community currency exchange, the same shall be valid only at | 12 | | the place of
business specified in the application. If it is a | 13 | | license for an ambulatory
currency exchange, it shall entitle | 14 | | the applicant to operate only at the
location or locations | 15 | | specified in the application, provided the applicant
shall | 16 | | secure separate and additional licenses for each of such | 17 | | locations.
Such licenses shall remain in full force and effect, | 18 | | until they are
surrendered by the licensee, or revoked, or | 19 | | expire, as herein provided. If
the Secretary shall not so | 20 | | approve, he shall not issue such license or
licenses and shall | 21 | | notify the applicant of such denial, retaining the full
| 22 | | investigation fee to cover the cost of investigating the | 23 | | community
currency exchange applicant. The
Secretary shall | 24 | | approve or deny every application hereunder within 90 days
from | 25 | | the filing of a complete application; except that in respect to | 26 | | an application by an
approved ambulatory currency exchange for |
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| 1 | | a license with regard to a
particular location to be served by | 2 | | it, the same shall be approved or
denied within 20 days from | 3 | | the filing thereof. If the application is
denied, the Secretary | 4 | | shall send by United States mail notice of such denial
to the | 5 | | applicant at the address set forth in the application.
| 6 | | If an application is denied, the applicant may, within 10 | 7 | | days from the
date of the notice of denial, make written | 8 | | request to the Secretary for a
hearing on the application, and | 9 | | the Secretary shall set a time and place for
the hearing. The | 10 | | hearing shall be set for a date after the receipt by the
| 11 | | Secretary of the request for hearing, and written notice of the | 12 | | time and
place of the hearing shall be mailed to the applicant | 13 | | at least 15 days
before the date of the hearing. The applicant | 14 | | shall pay the actual cost of
making the transcript of the | 15 | | hearing prior to the Secretary's issuing his
decision following | 16 | | the hearing. If, following the hearing, the application
is | 17 | | denied, the Secretary shall, within 20 days thereafter prepare | 18 | | and keep
on file in his office a written order of denial | 19 | | thereof, which shall
contain his findings with respect thereto | 20 | | and the reasons supporting the
denial, and shall send by United | 21 | | States Mail a copy thereof to the
applicant at the address set | 22 | | forth in the application, within 5 days after
the filing of | 23 | | such order. A review of any such decision may be had as
| 24 | | provided in Section 22.01 of this Act.
| 25 | | (Source: P.A. 97-315, eff. 1-1-12.)
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| 1 | | (205 ILCS 405/11) (from Ch. 17, par. 4819)
| 2 | | Sec. 11.
Such license, if issued for a community currency | 3 | | exchange, shall
state the name of the licensee and the address | 4 | | at which the business is to
be conducted. Such license, or and | 5 | | its annual renewal, shall be kept conspicuously posted in the | 6 | | place
of business of the licensee and shall not be transferable | 7 | | or assignable. If
issued for an ambulatory currency exchange, | 8 | | it shall so state, and shall
state the name and office address | 9 | | of the licensee, and the name and address
of the location or | 10 | | locations to be served by the licensee, and shall not be
| 11 | | transferable and assignable.
| 12 | | (Source: P.A. 97-315, eff. 1-1-12.)
| 13 | | (205 ILCS 405/15) (from Ch. 17, par. 4824)
| 14 | | Sec. 15.
The Secretary may, after 15 business days notice | 15 | | by registered or certified mail to the licensee at the address | 16 | | set forth in the license , or to such other address or method as | 17 | | previously designated by the licensee, stating the | 18 | | contemplated action and in general the grounds therefore, fine | 19 | | the licensee an amount not exceeding $1,000 per violation or | 20 | | revoke or suspend any license issued if he or she finds that:
| 21 | | (a) the licensee has failed to pay the annual license | 22 | | fee or to
maintain in effect the required bond or bonds or | 23 | | insurance policy or
policies; or
| 24 | | (b) the licensee has failed to comply with any | 25 | | provision of this Act or any order, decision, finding, |
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| 1 | | rule, regulation, or direction of the Secretary lawfully | 2 | | made under the authority of this Act; or | 3 | | (c) the licensee has violated any provision of this Act | 4 | | or any
regulation or direction made by the Secretary under | 5 | | this Act; or
| 6 | | (d) any fact or condition exists which, if it had | 7 | | existed at the
time of the original application for such | 8 | | license, would have warranted
the Secretary in refusing the | 9 | | issuance of the license; or
| 10 | | (e) the licensee has not operated the currency exchange | 11 | | or at the
location licensed, for a period of 60 consecutive | 12 | | days, unless the
licensee was prevented from operating | 13 | | during such period by reason of
events or acts beyond the | 14 | | licensee's control.
| 15 | | The Secretary's authority to fine a licensee or suspend or | 16 | | revoke licenses under this Section is subject to the following: | 17 | | (1) The notice shall state (A) the specific nature and | 18 | | a clear and concise description of the violation, (B) the | 19 | | Sections of this Act or rules that have been violated, (C) | 20 | | the contemplated fine or action, (D) that the licensee may, | 21 | | within 15 business days from the date of the notice, | 22 | | request a hearing pursuant to Section 22.01 of this Act, | 23 | | (E) that the licensee may, within 15 business days after | 24 | | the notice, take corrective action to mitigate any fine or | 25 | | contemplated action, and (F) the specific corrective | 26 | | action to be taken. |
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| 1 | | (2) In the event the licensee requests, in writing to | 2 | | the Secretary and within 15 business days after the notice, | 3 | | a hearing on the fine or contemplated action, the matter | 4 | | shall be heard pursuant to Section 22.01 of this Act, any | 5 | | fines or contemplated action shall be stayed, and no fines | 6 | | shall
accrue during the pendency of the hearing. | 7 | | (3) In the event the licensee takes the corrective | 8 | | action set forth in the notice within the time specified, | 9 | | the licensee shall certify the corrective action in writing | 10 | | to the Secretary, who may then confirm the corrective | 11 | | action by conducting a follow-up investigation within 30 | 12 | | days of the date of the certification and if the Secretary | 13 | | confirms the corrective action is complete, the | 14 | | contemplated fine or action shall be dismissed and the | 15 | | Secretary may assess an examination charge not to exceed | 16 | | $175. Corrective action taken by a licensee shall not serve | 17 | | to mitigate any contemplated fine or action if such | 18 | | violation is an impairment or is substantially similar to a | 19 | | violation committed by the licensee at the specific | 20 | | location within the previous 36 months. | 21 | | Consistent with the provisions of this Act, the Secretary | 22 | | may, after weighing any harm to the public, the seriousness of | 23 | | the offense, and the history of the licensee, fine a licensee | 24 | | an amount graduated up to $1,000 per violation. No later than | 25 | | September 1, 2015, the Department shall adopt rules to | 26 | | determine which offending acts shall be considered a single |
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| 1 | | violation and which offending acts shall be treated as separate | 2 | | violations and shall set corresponding fines for each class of | 3 | | violation, not to exceed $1,000 per violation. | 4 | | No license shall be revoked until the licensee has had | 5 | | notice of a hearing on the proposed revocation and an | 6 | | opportunity to be heard. When any license is revoked in this | 7 | | manner, the Secretary shall, within 20 days, prepare and keep | 8 | | on file in his or her office, a written order or decision of | 9 | | revocation that shall contain his or her findings and the | 10 | | reasons supporting the revocation. The Secretary shall send a | 11 | | copy of the order, finding, or decision of revocation by United | 12 | | States mail to the licensee at the address set forth in the | 13 | | license within 5 days after the filing in his or her office of | 14 | | the order, finding, or decision. A review of any such order, | 15 | | finding, or decision is
available under Section 22.01 of this | 16 | | Act. | 17 | | The Secretary may fine, suspend or revoke only the | 18 | | particular license or licenses for
particular places of | 19 | | business or locations with respect to which grounds
for | 20 | | revocation may occur or exist; except that if he shall find | 21 | | that
such grounds for revocation are of general application to | 22 | | all places of
business or locations, or that such grounds for | 23 | | fines, suspension or revocation
have occurred
or exist with | 24 | | respect to a substantial number of places of business or
| 25 | | locations, he may fine, suspend or revoke all of the licenses | 26 | | issued to such licensee. |
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| 1 | | An order assessing a fine, an order revoking or suspending | 2 | | a license, or an order denying renewal of a license shall take | 3 | | effect on service of the order unless the licensee requests a | 4 | | hearing pursuant to this Section , in writing, within 15 days | 5 | | after the date of service. In the event a hearing is requested, | 6 | | the order shall be stayed until a final administrative order is | 7 | | entered . If the licensee requests a hearing, the Secretary | 8 | | shall schedule a hearing within 30 days after the request for a | 9 | | hearing unless otherwise agreed to by the parties. The hearing | 10 | | shall be held at the time and place designated by the | 11 | | Secretary. | 12 | | The Secretary and any administrative law judge designated | 13 | | by him or her shall have the power to administer oaths and | 14 | | affirmations, subpoena witnesses and compel their attendance, | 15 | | take evidence, and require the production of books, papers, | 16 | | correspondence, and other records or information that he or she | 17 | | considers relevant or material to the inquiry. | 18 | | In case of contumacy or refusal of a witness to obey a | 19 | | subpoena, any circuit court of this State whose jurisdiction | 20 | | encompasses where the hearing is located may issue an order | 21 | | requiring such witness to appear before the Secretary or the | 22 | | hearing officer, to produce documentary evidence, or to give | 23 | | testimony touching the matter in question; and the court may | 24 | | punish any failures to obey such orders of the court as | 25 | | contempt.
| 26 | | A licensee may surrender any license by delivering to the |
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| 1 | | Secretary
written notice that he, they or it thereby surrenders | 2 | | such license, but
such surrender shall not affect such | 3 | | licensee's civil or criminal
liability for acts committed prior | 4 | | to such surrender, or affect the
liability on his, their or its | 5 | | bond or bonds, or his, their or its
policy or policies of | 6 | | insurance, required by this Act, or entitle such
licensee to a | 7 | | return of any part of the annual license fee or fees.
| 8 | | Every license issued hereunder shall remain in force until | 9 | | the same
shall expire, or shall have been surrendered, | 10 | | suspended or revoked in accordance
with this Act, but the | 11 | | Secretary may on his own motion, issue new
licenses to a | 12 | | licensee whose license or licenses shall have been revoked
if | 13 | | no fact or condition then exists which clearly would have | 14 | | warranted
the Secretary in refusing originally the issuance of | 15 | | such license under
this Act.
| 16 | | (Source: P.A. 97-315, eff. 1-1-12.)
| 17 | | (205 ILCS 405/18) (from Ch. 17, par. 4834)
| 18 | | Sec. 18. Proof of address. The applicant for a community | 19 | | currency exchange license shall have
a permanent address as | 20 | | evidenced by a lease of at least 6 six months duration
or other | 21 | | suitable evidence of permanency, and the license issued, | 22 | | pursuant
to the application shall be valid only at that address | 23 | | or any new address
approved by the Secretary. A letter of | 24 | | intent for a lease shall suffice for inclusion with the | 25 | | application, and evidence of an executed lease shall be |
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| 1 | | considered ministerial in nature, to be furnished once the | 2 | | investigation is completed, the approval final, and prior to | 3 | | the issuance of the license.
| 4 | | (Source: P.A. 97-315, eff. 1-1-12.)".
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