Illinois Compiled Statutes
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205 ILCS 405/16
(205 ILCS 405/16)
(from Ch. 17, par. 4832)
Annual report; investigation; costs.
(a) Each licensee shall
annually, on or before the 1st day of
March, file a report with the Secretary for the
calendar year period
from January 1st through December 31st, giving such relevant information
as the Secretary may reasonably require concerning, and for the purpose
of examining, the business and operations during the preceding fiscal
year period of each licensed currency exchange conducted by such
licensee within the State. Such report shall be made under oath and
shall be in the form prescribed by the Secretary. The Secretary may at
any time, and shall at least once in each year, investigate the currency
exchange business of any licensee and of every person, partnership,
association, limited liability company, and corporation who or which shall
be engaged in the
business of operating a currency exchange. For that purpose, the
Secretary shall have free access to the offices and places of business
and to such records of all such persons, firms, partnerships,
associations, limited liability companies and members thereof, and
corporations and to the officers and directors thereof
that shall relate to such currency exchange business.
The investigation may be conducted in conjunction with representatives of
other State agencies or agencies of another state or of the United States as
determined by the Secretary.
The Secretary may
at any time inspect the locations
served by an ambulatory currency exchange, for the purpose of
determining whether such currency exchange is complying with the
provisions of this Act at each location served. The Secretary may require
by subpoena the attendance of and examine under oath all persons whose
testimony he may require relative to such business, and in such cases
the Secretary, or any qualified representative of the Secretary whom the
Secretary may designate, may administer oaths to all such persons called
as witnesses, and the Secretary, or any such qualified representative of
the Secretary, may conduct such examinations, and there shall be paid to
the Secretary for each such examination a fee of $250 for each day
thereof for each qualified representative designated and required to
conduct the examination; provided, however, that in the case of an
ambulatory currency exchange, such fee shall be $150 for each day or part
(b) Confidentiality. All information collected by the Department in the course of an examination or investigation of an ambulatory or community currency exchange or applicant, including, by not limited to, any complaint against an ambulatory or community currency exchange filed with the Department, and information collected to investigate any such complaint shall be maintained for the confidential use of the Department and shall not be disclosed. The Department may not disclose such information to anyone other than law enforcement officials, other regulatory agencies that have an appropriate regulatory interest as determined by the Secretary, or to a party presenting a lawful subpoena to the Department. Information and documents disclosed to a federal, State, county, or local law enforcement agency shall not be disclosed by the agency for any purpose to any other agency or person. A formal complaint filed against a licensee by the Department or any order issued by the Department against a licensee shall be a public record, except as otherwise prohibited by law.
(Source: P.A. 97-315, eff. 1-1-12.)