| ||||
| Public Act 097-1111 | ||||
| ||||
| ||||
AN ACT concerning regulation.
| ||||
Be it enacted by the People of the State of Illinois,
| ||||
represented in the General Assembly:
| ||||
Section 5. The Currency Exchange Act is amended by changing | ||||
Sections 3.3 and 4 as follows:
| ||||
(205 ILCS 405/3.3) (from Ch. 17, par. 4807)
| ||||
Sec. 3.3. Additional public services.
| ||||
(a) Nothing in this Act shall prevent the Secretary from | ||||
authorizing
a currency exchange, group of currency exchanges, | ||||
or association of currency exchanges to render additional | ||||
services to the public if the services
are consistent with the | ||||
provisions of this Act, are within its meaning,
are in the best | ||||
interest of the public, and benefit the general welfare. A | ||||
currency exchange, group of currency exchanges, or association | ||||
of currency exchanges must request, in writing, the Secretary's | ||||
approval of the additional service prior to rendering such | ||||
additional service to the public. Any approval under this | ||||
Section shall be deemed an approval for all currency exchanges. | ||||
Any currency exchange wishing to provide an additional service | ||||
previously as approved by the Secretary must provide written | ||||
notice, on a form provided by the Department and available on | ||||
its website, to the Secretary 30 days prior to offering the | ||||
approved additional service to the public. The Secretary may | ||||
charge an additional service investigation fee of $500 per | ||
application for a new additional service request. The | ||
additional service request shall be on a form provided by the | ||
Department and available on the Department's website. Within 15 | ||
days after receipt by the Department of an additional service | ||
request, the Secretary shall examine the additional service | ||
request for completeness and notify the requester of any | ||
defect. The requester must remedy the defect within 10 days | ||
after the mailing of the notification of the defect by the | ||
Secretary. Failure to remedy the defect within such time will | ||
void the additional service request.
If the Secretary | ||
determines that the additional service request is complete, the | ||
Secretary shall have 60 business days to approve or deny the | ||
additional service request. If the additional service request | ||
is denied, the Secretary shall send by United States mail | ||
notice of the denial to the requester at the address set forth | ||
in the additional service request. If an additional service | ||
request is denied, the requester may, within 10 days after | ||
receipt of the denial, make a written request to the Secretary | ||
for a hearing on the additional service request denial. The | ||
hearing shall be set for a date after the receipt by the | ||
Secretary of the request for a hearing, and written notice of | ||
the time and place of the hearing shall be mailed to the | ||
requester no later than 15 days before the date of the hearing. | ||
The hearing shall be scheduled for a date within 56 days after | ||
the date of the receipt of the request for a hearing. The | ||
requester shall pay the actual cost of making the transcript of | ||
the hearing prior to the Secretary's issuing his or her | ||
decision following the hearing. If the Secretary denies the | ||
request for a new additional service, a currency exchange shall | ||
not offer the new additional service until a final | ||
administrative order has been entered permitting a currency | ||
exchange to offer the service.
The Secretary's
decision may be | ||
subject to review as provided in Section 22.01
of this Act.
If | ||
the Secretary revokes a previously approved authorization for | ||
an additional service request, the Secretary shall provide | ||
written notice to all affected currency exchange licensees. | ||
Upon receipt of the revocation notice, a currency exchange | ||
licensee, group of currency exchange licensees, or association | ||
of currency exchanges shall have 10 days to make a written | ||
request to the Secretary for a hearing, and the Department | ||
shall have 30 business days to schedule a future hearing. | ||
Written notice of the time and place of the hearing shall be | ||
mailed to the licensee no later than 10 business days before | ||
the date of the hearing. The licensee shall pay the actual cost | ||
of making the transcript prior to the Secretary's issuing his | ||
or her decision following the hearing.
The Secretary's decision
| ||
is subject to review as provided in Section 22.01 of this
Act. | ||
The Secretary may, at his or her discretion, revoke any | ||
authorization under this Section on 60 days written notice to | ||
the currency exchange.
| ||
(b) (Blank). | ||
(c) If the Secretary revokes authorization for a previously | ||
approved additional service, the currency exchange may | ||
continue to offer the additional service until a
final | ||
administrative order has been entered revoking the licensee's | ||
previously approved authorization.
| ||
(Source: P.A. 97-315, eff. 1-1-12.)
| ||
(205 ILCS 405/4) (from Ch. 17, par. 4808)
| ||
Sec. 4. License application; contents; fees. Application | ||
for such
license shall be in writing under oath and in
the form | ||
prescribed and furnished by the Secretary. Each application | ||
shall
contain the following:
| ||
(a) The full name and address (both of residence and | ||
place of business)
of the applicant, and if the applicant | ||
is a partnership, limited liability
company, or | ||
association, of
every member thereof, and the name and | ||
business address if the applicant is
a corporation;
| ||
(b) The county and municipality, with street and | ||
number, if any, where
the community currency exchange is to | ||
be conducted, if the application is
for a community | ||
currency exchange license;
| ||
(c) If the application is for an ambulatory currency | ||
exchange license,
the name and address of the employer at | ||
each location to be served by it;
and
| ||
(d) The applicant's occupation or profession; a | ||
detailed statement of the applicant's
his business | ||
experience for the 10 years immediately preceding the his
| ||
application; a detailed statement of the applicant's his | ||
finances; the applicant's his present or previous
| ||
connection with any other currency exchange; whether the | ||
applicant he has ever been
involved in any civil or | ||
criminal litigation, and the material facts
pertaining | ||
thereto; whether the applicant he has ever been committed | ||
to any penal
institution or admitted to an institution for | ||
the care and treatment of
mentally ill persons; and the | ||
nature of applicant's occupancy of the
premises to be | ||
licensed where the application is for a community currency
| ||
exchange license. If the applicant is a partnership, the | ||
information
specified herein shall be required of each | ||
partner. If the applicant is a
corporation, the said | ||
information shall be required of each officer,
director and | ||
stockholder thereof along with disclosure of their | ||
ownership
interests.
If the applicant is a limited | ||
liability company, the information required by
this | ||
Section shall be provided with respect to each member and | ||
manager along
with disclosure of their ownership | ||
interests.
| ||
A community currency exchange license application shall be
| ||
accompanied by a fee of $500, prior to January 1, 2012. After | ||
January 1, 2012 the fee shall be $750. After January 1, 2014 | ||
the fee shall be $1,000. for the cost of investigating the | ||
applicant. If the ownership of a
licensee changes, in whole or | ||
in part, a new application must be filed pursuant
to this | ||
Section along with a $500 fee if the licensee's ownership | ||
interests
have been transferred
or sold to a new person or | ||
entity or a fee of $300 if the licensee's
ownership interests | ||
have been transferred or sold to a current holder or
holders of | ||
the licensee's ownership interests.
When the application for a
| ||
community currency exchange license has been approved by the | ||
Secretary and
the applicant so advised, an additional sum of
| ||
$400 as an annual license
fee for a period terminating on the | ||
last day of the current calendar year
shall be paid to the | ||
Secretary by the applicant; provided, that the license
fee for | ||
an applicant applying for such a license after July 1st of any | ||
year
shall be $200 for the balance of such year. Upon receipt
| ||
of a community currency exchange license application, the
| ||
Secretary shall examine the application for completeness and
| ||
notify the applicant in writing of any defect within 20 days | ||
after
receipt. The applicant must remedy the defect within 10 | ||
days after the mailing of the notification of the defect by the | ||
Secretary. Failure to timely remedy the defect will void the | ||
application. Once the Secretary determines that the | ||
application is complete, the Secretary shall have 90 business | ||
days to approve or deny the application.
If
the application is | ||
denied, the Secretary shall send by United
States mail notice | ||
of the denial to the applicant at the
address set forth in the | ||
application. If an application is
denied, the applicant may, | ||
within 10 days after the date of the
notice of denial, make a | ||
written request to the Secretary for a
hearing on the | ||
application. The hearing shall be set for a date after the | ||
receipt by the Secretary of the request for a hearing, and | ||
written notice of the time and place of the hearing shall be | ||
mailed to the applicant no later than 15 days before the date | ||
of the hearing. The hearing shall be scheduled for a date | ||
within 56 days after the date of the receipt of the request for | ||
a hearing. The applicant shall pay the actual cost of
making | ||
the transcript of the hearing prior to the Secretary's
issuing | ||
his or her decision. The Secretary's decision is subject to | ||
review as
provided in Section 22.01 of this Act.
| ||
An application for an ambulatory currency exchange license | ||
shall be
accompanied by a fee of $100, which fee shall be for | ||
the cost of
investigating the applicant. An approved applicant | ||
shall not be required
to pay the initial investigation fee of | ||
$100 more than once.
When the application for an ambulatory | ||
currency exchange license has
been approved by the Secretary, | ||
and such applicant so advised, such
applicant shall pay an | ||
annual license fee of $25 for each and every
location to be | ||
served by such applicant; provided that such license fee for
an | ||
approved applicant applying for such a license after July 1st | ||
of any
year shall be $12 for the balance of such year for each | ||
and every location
to be served by such applicant. Such an
| ||
approved applicant for an ambulatory currency exchange | ||
license, when
applying for a license with respect to a | ||
particular location, shall file
with the Secretary, at the time | ||
of filing an application, a letter of
memorandum, which shall | ||
be in writing and under oath, signed by the owner
or authorized | ||
representative of the business whose employees are to be
| ||
served; such letter or memorandum shall contain a statement | ||
that such
service is desired, and that the person signing the | ||
same is authorized so
to do. The Secretary shall thereupon | ||
verify the authenticity of the letter
or memorandum and the | ||
authority of the person who executed it, to do
so. | ||
The Department shall have 45 business days to approve or | ||
deny a currency exchange licensee's request to purchase another | ||
currency exchange.
| ||
(Source: P.A. 97-315, eff. 1-1-12.)
| ||
Section 99. Effective date. This Act takes effect upon | ||
becoming law.
| ||