205 ILCS 658/5-7

(205 ILCS 658/5-7)

Sec. 5-7. Maintenance of license.

(a) If a licensee does not continue to meet the qualifications or satisfy the requirements that apply to an applicant for a new money transmission license, the Secretary may suspend or revoke the licensee's license in accordance with the procedures established by this Act or other applicable State law for such suspension or revocation.

(b) An applicant for a money transmission license must demonstrate that it meets or will meet, and a money transmission licensee must at all times meet, the requirements in Article X of this Act.

(Source: P.A. 103-991, eff. 8-9-24.)