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(205 ILCS 657/37)
Sec. 37.
Display of disclosure notice.
(a) Each authorized seller shall conspicuously display a
disclosure
notice supplied by the licensee; each licensee that transmits money directly
shall also conspicuously display a disclosure notice.
(b) The disclosure notice shall contain the following information:
(1) In the case of an authorized seller only, the |
| name of the authorized seller's licensee issuing the disclosure notice.
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(2) A toll-free telephone number for the Department
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| of Financial Institutions which will provide customer support for suspected violations of this Act.
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(3) A statement that the authorization may be revoked
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| at any time by the licensee.
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(c) A licensee shall notify the Department within 30 days when an
authorized
seller is no longer an authorized seller for the licensee. An authorized seller
who has been terminated shall remove the disclosure notice from the premises
within 10 business days after such termination. A terminated
authorized seller who wilfully and knowingly refuses to remove the disclosure
notice within 10 business days of termination
commits a Class B misdemeanor.
(d) If a customer of a former authorized seller detrimentally relies on a
disclosure notice that was not removed, the former authorized seller shall be
civilly liable if the customer proves:
(1) that the
entity possessed the disclosure notice beyond 10 business days from the
termination of
authorization by the licensee, (2) that the entity held itself out as an
authorized seller,
without informing the customer that the seller was no longer authorized by the
licensee,
(3) that the customer justifiably relied upon the conspicuously displayed
disclosure notice
formerly provided by the licensee, and (4) that the
entity engaged in the business of transmitting money after its termination as
an authorized seller.
(e) As used in this Section, "civil liability" means liability for actual
loss,
reasonable attorney's fees, and costs.
(Source: P.A. 93-535, eff. 1-1-04.)
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