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(625 ILCS 5/3-904.5)
Remittance agent prelicensing education program courses.
(a) An applicant for a license as a remittance agent shall
complete a minimum of 8 hours of prelicensing education program
courses under this Section prior to submitting an application
to the Secretary of State.
(b) To meet the requirements of this Section, at least one
person who is associated with the remittance agent as an owner,
principal, corporate officer, director, or member or partner of
a limited liability company or limited liability partnership
shall complete the education program courses.
(c) The prelicensing education program courses shall be
provided by public or private entities with an expertise in the
area as approved by the Secretary of State. The Secretary of
State must approve course curricula and instruction, in
consultation with the Department of Transportation and any
private entity with expertise in the area in the Secretary's
(d) Each person who successfully completes an approved
prelicensing education program under this Section shall be
issued a certificate by the education program provider. The
current certificate of completion, or a copy of the current
certificate, shall be posted conspicuously in the principal
office of the licensee.
(e) The provisions of this Section apply to all remittance
agents including, but not limited to, persons, corporations,
and partnerships, except for the following:
(1) motor vehicle rental companies having a national
(2) national motor vehicle auction companies;
(3) wholesale dealer-only auction companies;
(4) used vehicle dealerships owned by a franchise
motor vehicle dealer; and
(5) banks, credit unions, and savings and loan
(Source: P.A. 101-505, eff. 1-1-20