Synopsis of Bill as introduced:
Amends the Currency Exchange Act, the Sales Finance Agency Act,
and the Consumer Installment Loan Act. Provides that license fees
under those Acts must not only be paid, but also received by the
Department of Financial Institutions by the date specified for
payment. Provides that licensees under the Consumer Installment Loan
Act must maintain a bond in the amount of $25,000 rather than $1,000.
Authorizes the Department to fine licensees under the Sales Finance
Agency Act. Provides that if ownership of a currency exchange
changes, a new investigation fee or licensee fee must be paid.
Authorizes the Department to conduct investigations under the Currency
Exchange Act with other state and federal agencies.
FISCAL NOTE (Department of Financial Institutions)
SB 862 would have a minimal fiscal impact on the Department.
Last action on Bill: PUBLIC ACT.............................. 92-0398
Last action date: AUG-16-2001
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status