205 ILCS 658/9-1

(205 ILCS 658/9-1)

Sec. 9-1. Timely transmission.

(a) Every licensee shall forward all money received for transmission in accordance with the terms of the agreement between the licensee and the sender, which shall be no more than 3 business days after the receipt of the money to be transmitted, unless the licensee has a reasonable belief or a reasonable basis to believe that the sender may be a victim of fraud or that a crime or violation of law, rule, or regulation has occurred, is occurring, or may occur.

(b) If a licensee fails to forward money received for transmission in accordance with this Section, the licensee must respond to inquiries by the sender with the reason for the failure unless providing a response would violate a State or federal law, rule, or regulation.

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