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Sen. Don Harmon
Filed: 4/15/2013
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| 1 | | AMENDMENT TO SENATE BILL 627
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 627 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Currency Exchange Act is amended by |
| 5 | | changing Sections 3, 4, 4.1, 5, 9, 11, 13, 13.1, 15, and 15.1 |
| 6 | | and by adding Sections 4.1b and 9.5 as follows:
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| 7 | | (205 ILCS 405/3) (from Ch. 17, par. 4804)
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| 8 | | Sec. 3. Powers of community currency exchanges. No |
| 9 | | community or
ambulatory currency exchange shall be
permitted to |
| 10 | | accept money or evidences of money as a deposit to be
returned |
| 11 | | to the depositor or upon the depositor's order. No
community or |
| 12 | | ambulatory currency exchange shall be permitted to act as
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| 13 | | bailee or agent for persons, firms, partnerships, limited |
| 14 | | liability
companies, associations or
corporations to hold |
| 15 | | money or evidences thereof or the proceeds
therefrom for the |
| 16 | | use and benefit of the owners thereof, and deliver
such money |
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| 1 | | or proceeds of evidence of money upon request and direction
of |
| 2 | | such owner or owners. A community or ambulatory currency |
| 3 | | exchange is permitted to engage in, and charge a fee for, the |
| 4 | | following activities, either directly or as a third-party |
| 5 | | agent: (i) cashing of checks, drafts, money orders, or any |
| 6 | | other evidences of money acceptable to the currency exchange, |
| 7 | | (ii) selling or issuing money orders, (iii) obtaining reports, |
| 8 | | certificates, governmental permits, licenses, and vital |
| 9 | | statistics and the preparation of necessary applications to |
| 10 | | obtain the same, (iv) the sale and distribution of bond cards, |
| 11 | | (v) obtaining, distributing, providing, or selling: State |
| 12 | | vehicle registration renewals, title transfers and tax |
| 13 | | remittance forms, city vehicle licenses, and other |
| 14 | | governmental services, (vi) photocopying and sending and |
| 15 | | receiving facsimile transmissions, (vii) notary service either |
| 16 | | by the proprietor of the currency exchange or any currency |
| 17 | | exchange employee, authorized by the State to act as a notary |
| 18 | | public, (viii) issuance of travelers checks obtained by the |
| 19 | | currency exchange from a banking institution under a trust |
| 20 | | receipt, (ix) accepting for payment utility and other |
| 21 | | companies' bills, (x) issuance and acceptance of any |
| 22 | | third-party debit, credit, or stored value card and loading or |
| 23 | | unloading, (xi) on-premises automated cash dispensing |
| 24 | | machines, (xii) sale of rolled coin and paper money, (xiii) |
| 25 | | exchange of foreign currency through a third-party, (xiv) sale |
| 26 | | of cards, passes, or tokens for public transit, (xv) providing |
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| 1 | | mail box service, (xvi) preparation and transmittal of consumer |
| 2 | | requests and applications for and the sale of prepaid wireless |
| 3 | | phones, phone cards, and other pre-paid telecommunication |
| 4 | | services, (xvii) on-premises public telephone, (xviii) sale of |
| 5 | | U.S. postage, (xix) money transmission through a licensed |
| 6 | | third-party money transmitter, (xx) sale of candy, gum, other |
| 7 | | packaged foods, soft drinks, and other products and services by |
| 8 | | means of on-premises vending machines, and (xxi) preparation |
| 9 | | and transmittal of consumer requests and applications for the |
| 10 | | delivery, supply, or service of any utility product, service, |
| 11 | | or company lawfully offered in the State of Illinois, (xxii) |
| 12 | | advertising upon and about the premises and distribution to |
| 13 | | consumers of advertising and other materials or any legal |
| 14 | | product or service that is not misleading to the public, and |
| 15 | | (xxiii) any other products or and services that are consistent |
| 16 | | with the provisions of this Act, are within its meaning, are in |
| 17 | | the best interest of the public, and benefit the general |
| 18 | | welfare. For the purposes of this Section, an activity, |
| 19 | | product, or service is consistent with the provisions of this |
| 20 | | Act, within its meaning, in the best interest of the public, |
| 21 | | and benefits the general welfare if it is a lawful activity, |
| 22 | | product, or service, but not if it involves the sale or |
| 23 | | purchase of alcohol, firearms, lottery tickets, pornographic |
| 24 | | materials, medication, or tobacco or if it involves payday |
| 25 | | loans, consumer installment loans, car loans, or video gaming |
| 26 | | as provided in the Video Gaming Act. as may be approved by the |
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| 1 | | Secretary.
Any community or ambulatory currency exchange may |
| 2 | | enter into
agreements with any utility and other companies to |
| 3 | | act as the companies'
agent for the acceptance of payment of |
| 4 | | utility and other
companies' bills without charge
to the |
| 5 | | customer and,
acting under such agreement, may receipt for |
| 6 | | payments in the
names of the utility and other companies. Any |
| 7 | | community or
ambulatory currency exchange may also receive |
| 8 | | payment of
utility and other companies' bills for remittance to |
| 9 | | companies
with which it has no such agency agreement and may |
| 10 | | charge a fee
for such service but may not, in such cases, issue |
| 11 | | a receipt for such
payment in the names of the utility and |
| 12 | | other companies.
However, funds received by currency exchanges |
| 13 | | for remittance
to utility and other companies with which the |
| 14 | | currency exchange
has no agency agreement shall be forwarded to |
| 15 | | the appropriate
utility and other companies by the currency |
| 16 | | exchange before the
end of the next business day. |
| 17 | | For the purpose of this Section, "utility and other |
| 18 | | companies" means any utility company and other company with |
| 19 | | which the currency exchange may or may not have a contractual |
| 20 | | agreement and for which the currency exchange accepts payments |
| 21 | | from consumers for remittance to the utility or other company |
| 22 | | for the payment of bills.
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| 23 | | Nothing in this Section authorizes a licensee to engage in |
| 24 | | any activity regulated by any federal, State, or local |
| 25 | | governmental authority without first obtaining the necessary |
| 26 | | license or permit to engage in that activity. |
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| 1 | | (Source: P.A. 97-315, eff. 1-1-12.)
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| 2 | | (205 ILCS 405/4) (from Ch. 17, par. 4808)
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| 3 | | Sec. 4. License application; contents; fees. Application |
| 4 | | for such
license shall be in writing under oath and in
the form |
| 5 | | prescribed and furnished by the Secretary. Each application |
| 6 | | shall
contain the following:
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| 7 | | (a) The full name and address (both of residence and |
| 8 | | place of business)
of the applicant, and if the applicant |
| 9 | | is a partnership, limited liability
company, or |
| 10 | | association, of
every member thereof, and the name and |
| 11 | | business address if the applicant is
a corporation;
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| 12 | | (b) The county and municipality, with street and |
| 13 | | number, if any, where
the community currency exchange is to |
| 14 | | be conducted, if the application is
for a community |
| 15 | | currency exchange license;
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| 16 | | (c) If the application is for an ambulatory currency |
| 17 | | exchange license,
the name and address of the employer at |
| 18 | | each location to be served by it;
and
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| 19 | | (d) The applicant's occupation or profession; a |
| 20 | | detailed statement of the applicant's
business experience |
| 21 | | for the 10 years immediately preceding the
application; a |
| 22 | | detailed statement of the applicant's finances; the |
| 23 | | applicant's present or previous
connection with any other |
| 24 | | currency exchange; whether the applicant has ever been
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| 25 | | involved in any civil or criminal litigation, and the |
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| 1 | | material facts
pertaining thereto; whether the applicant |
| 2 | | has ever been committed to any penal
institution or |
| 3 | | admitted to an institution for the care and treatment of
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| 4 | | mentally ill persons; and the nature of applicant's |
| 5 | | occupancy of the
premises to be licensed where the |
| 6 | | application is for a community currency
exchange license. |
| 7 | | If the applicant is a partnership, the information
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| 8 | | specified herein shall be required of each partner. If the |
| 9 | | applicant is a
corporation, the said information shall be |
| 10 | | required of each officer,
director and stockholder thereof |
| 11 | | along with disclosure of their ownership
interests.
If the |
| 12 | | applicant is a limited liability company, the information |
| 13 | | required by
this Section shall be provided with respect to |
| 14 | | each member and manager along
with disclosure of their |
| 15 | | ownership interests.
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| 16 | | A community currency exchange license application shall be
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| 17 | | accompanied by a fee of $500, prior to January 1, 2012. After |
| 18 | | January 1, 2012 the fee shall be $750. After January 1, 2014 |
| 19 | | the fee shall be $1,000 for the cost of investigating the |
| 20 | | applicant. If the ownership of a
licensee changes, in whole or |
| 21 | | in part, a new application must be filed pursuant
to this |
| 22 | | Section along with a $500 fee if the licensee's ownership |
| 23 | | interests
have been transferred
or sold to a new person or |
| 24 | | entity or a fee of $300 if the licensee's
ownership interests |
| 25 | | have been transferred or sold to a current holder or
holders of |
| 26 | | the licensee's ownership interests.
When the application for a
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| 1 | | community currency exchange license has been approved by the |
| 2 | | Secretary and
the applicant so advised, an additional sum of
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| 3 | | $400 as an annual license
fee for a period terminating on the |
| 4 | | last day of the current calendar year
shall be paid to the |
| 5 | | Secretary by the applicant; provided, that the license
fee for |
| 6 | | an applicant applying for such a license after July 1st of any |
| 7 | | year
shall be $200 for the balance of such year. Upon receipt
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| 8 | | of a community currency exchange license application, the
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| 9 | | Secretary shall examine the application for completeness and
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| 10 | | notify the applicant in writing of any defect within 20 days |
| 11 | | after
receipt. The applicant must remedy the defect within 10 |
| 12 | | days after the mailing of the notification of the defect by the |
| 13 | | Secretary; provided, however, that in such case an applicant |
| 14 | | may request a reasonable extension of time that shall not be |
| 15 | | unreasonably denied. Failure to timely remedy the defect will |
| 16 | | void the application. Unless material to the investigation, no |
| 17 | | deficiency shall delay the investigation, and, in the event of |
| 18 | | a delay, the applicant shall be notified of the delay. Once the |
| 19 | | Secretary determines that the application is complete, the |
| 20 | | Secretary shall have 90 business days to approve or deny the |
| 21 | | application. If
the application is denied, the Secretary shall |
| 22 | | send by United
States mail notice of the denial to the |
| 23 | | applicant at the
address set forth in the application. If an |
| 24 | | application is
denied, the applicant may, within 10 days after |
| 25 | | the date of the
notice of denial, make a written request to the |
| 26 | | Secretary for a
hearing on the application. The hearing shall |
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| 1 | | be set for a date after the receipt by the Secretary of the |
| 2 | | request for a hearing, and written notice of the time and place |
| 3 | | of the hearing shall be mailed to the applicant no later than |
| 4 | | 15 days before the date of the hearing. The hearing shall be |
| 5 | | scheduled for a date within 56 days after the date of the |
| 6 | | receipt of the request for a hearing. The applicant shall pay |
| 7 | | the actual cost of
making the transcript of the hearing prior |
| 8 | | to the Secretary's
issuing his or her decision. The Secretary's |
| 9 | | decision is subject to review as
provided in Section 9.5 22.01 |
| 10 | | of this Act.
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| 11 | | An application for an ambulatory currency exchange license |
| 12 | | shall be
accompanied by a fee of $100, which fee shall be for |
| 13 | | the cost of
investigating the applicant. An approved applicant |
| 14 | | shall not be required
to pay the initial investigation fee of |
| 15 | | $100 more than once.
When the application for an ambulatory |
| 16 | | currency exchange license has
been approved by the Secretary, |
| 17 | | and such applicant so advised, such
applicant shall pay an |
| 18 | | annual license fee of $25 for each and every
location to be |
| 19 | | served by such applicant; provided that such license fee for
an |
| 20 | | approved applicant applying for such a license after July 1st |
| 21 | | of any
year shall be $12 for the balance of such year for each |
| 22 | | and every location
to be served by such applicant. Such an
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| 23 | | approved applicant for an ambulatory currency exchange |
| 24 | | license, when
applying for a license with respect to a |
| 25 | | particular location, shall file
with the Secretary, at the time |
| 26 | | of filing an application, a letter of
memorandum, which shall |
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| 1 | | be in writing and under oath, signed by the owner
or authorized |
| 2 | | representative of the business whose employees are to be
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| 3 | | served; such letter or memorandum shall contain a statement |
| 4 | | that such
service is desired, and that the person signing the |
| 5 | | same is authorized so
to do. The Secretary shall thereupon |
| 6 | | verify the authenticity of the letter
or memorandum and the |
| 7 | | authority of the person who executed it, to do
so. |
| 8 | | The Department shall have 45 business days to approve or |
| 9 | | deny a currency exchange licensee's request to purchase another |
| 10 | | currency exchange.
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| 11 | | (Source: P.A. 97-315, eff. 1-1-12; 97-1111, eff. 8-27-12.)
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| 12 | | (205 ILCS 405/4.1) (from Ch. 17, par. 4809)
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| 13 | | Sec. 4.1. Application; investigation; community need. |
| 14 | | (a) The General Assembly finds and declares that community |
| 15 | | currency
exchanges provide important and vital services to |
| 16 | | Illinois citizens, that
the number of community currency |
| 17 | | exchanges should be limited in accordance
with the needs of the |
| 18 | | communities they are to serve, and that it is in the
public |
| 19 | | interest to promote and foster the community currency exchange |
| 20 | | business
and to insure the financial stability thereof. |
| 21 | | (b) Upon receipt of an application
for a license for a |
| 22 | | community
currency exchange, the Secretary shall cause an |
| 23 | | investigation to determine: |
| 24 | | (1) of the need of the community
for the establishment |
| 25 | | of a community currency exchange at the location
specified |
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| 1 | | in the application; and |
| 2 | | (2) the effect that granting the license
will have on |
| 3 | | the financial stability of other community currency |
| 4 | | exchanges
that may be serving the community in which the |
| 5 | | business of the applicant
is proposed to be conducted.
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| 6 | | (c) "Community", as used in this Act, means a locality |
| 7 | | where there may or
can be available to the people thereof the |
| 8 | | services of a community currency
exchange reasonably |
| 9 | | accessible to them. |
| 10 | | (d) If the issuance of a license to
engage in the community |
| 11 | | currency exchange business at the location
specified will not |
| 12 | | promote the needs and the convenience and advantage
of the |
| 13 | | community in which the business of the applicant is proposed to |
| 14 | | be
conducted, then the application shall be denied. |
| 15 | | For the purposes of this subsection (d), a community |
| 16 | | currency exchange business will promote the needs and the |
| 17 | | convenience and advantage of the community if it will provide a |
| 18 | | benefit to that community.
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| 19 | | (e) As a part of the investigation, the Secretary shall, |
| 20 | | within 10 business days after receipt of an application, notify |
| 21 | | in writing all currency exchanges described in paragraph (2) of |
| 22 | | subsection (b) of this Section of the application and the |
| 23 | | proposed location. Within 10 business days after the notice, |
| 24 | | any currency exchange as described in paragraph (2) of |
| 25 | | subsection (b) of this Section may notify the Secretary that it |
| 26 | | intends to protest the application. If the currency exchange |
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| 1 | | intends to protest the application, then the currency exchange |
| 2 | | shall, within 30 days after notifying the Secretary, provide |
| 3 | | the Secretary with any information requested to substantiate |
| 4 | | that granting the license would have a material and negative |
| 5 | | effect upon the financial stability of the existing currency |
| 6 | | exchange. Once the investigation is completed, the Secretary |
| 7 | | shall, within 10 business days thereafter, notify any currency |
| 8 | | exchange as described in paragraph (2) of subsection (b) of |
| 9 | | this Section of the determination to approve or deny the |
| 10 | | application. The determination shall sufficiently detail the |
| 11 | | facts that led to the determination. Any currency exchange |
| 12 | | described in paragraph (2) of subsection (b) of this Section |
| 13 | | that has protested an application that the Secretary |
| 14 | | subsequently approves shall have standing to bring this matter |
| 15 | | to hearing under Section 10 of this Act. For the duration of |
| 16 | | the license contest, the granting and issuance of the license |
| 17 | | shall be stayed. |
| 18 | | (Source: P.A. 97-315, eff. 1-1-12.)
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| 19 | | (205 ILCS 405/4.1b new) |
| 20 | | Sec. 4.1b. Proof of address. The applicant for a community |
| 21 | | currency exchange license shall have a permanent address as |
| 22 | | evidenced by a lease of at least 6 months duration or other |
| 23 | | suitable evidence of permanency, and the license issued |
| 24 | | pursuant to the application shall be valid only at that address |
| 25 | | in the application or any new address approved by the |
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| 1 | | Secretary. A letter of intent for a lease shall suffice for |
| 2 | | inclusion with the application and evidence of an executed |
| 3 | | lease shall be considered ministerial in nature to be furnished |
| 4 | | once the investigation is completed, the approval final, and |
| 5 | | prior to the issuance of the license.
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| 6 | | (205 ILCS 405/5) (from Ch. 17, par. 4812)
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| 7 | | Sec. 5. Bond; condition; amount.
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| 8 | | (a) Before any license shall be issued
to a community
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| 9 | | currency exchange the applicant shall file annually with and
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| 10 | | have approved by the Secretary a surety bond, issued by a |
| 11 | | bonding
company authorized to do business in this State in the |
| 12 | | principal sum
of $25,000. Such bond shall run to the Secretary |
| 13 | | and shall
be for the benefit of any creditors of such currency |
| 14 | | exchange
for any liability incurred by the currency exchange on |
| 15 | | any
money orders, including any fees and penalties incurred by |
| 16 | | the remitter should the money order be returned unpaid, issued |
| 17 | | or sold by the currency exchange in the ordinary course of its |
| 18 | | business and for
any liability incurred by the currency |
| 19 | | exchange for any sum or
sums due to any payee or endorsee of |
| 20 | | any check, draft or money
order left with the currency exchange |
| 21 | | in the ordinary course of its business for collection, and for
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| 22 | | any liability to the public incurred by the currency exchange |
| 23 | | in the ordinary course of its business in connection
with the |
| 24 | | rendering of any of the services referred to in
Section 3 of |
| 25 | | this Act.
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| 1 | | To protect the public and allow for the effective |
| 2 | | underwriting of bonds, the surety bond shall not cover money |
| 3 | | orders issued and other liabilities incurred by a currency |
| 4 | | exchange for its own account or that of its controlling |
| 5 | | persons, including money orders issued or liabilities incurred |
| 6 | | by the currency exchange to obtain cash for its own operations, |
| 7 | | to pay for the currency exchange's own bills or liabilities or |
| 8 | | that of its controlling persons, or to obtain things of value |
| 9 | | for the currency exchange or its controlling persons, |
| 10 | | regardless of whether such things of value are used in the |
| 11 | | currency exchange's operations or sold by the currency |
| 12 | | exchange. |
| 13 | | From time to time the Secretary may determine the amount of |
| 14 | | liabilities
as described herein and shall require the licensee |
| 15 | | to file a bond in an
additional sum if the same is determined |
| 16 | | to be necessary in accordance with
the requirements of this |
| 17 | | Section. In no case shall the bond be less than
the initial |
| 18 | | $25,000, nor more than the outstanding liabilities.
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| 19 | | (b) In lieu of the surety bond requirements of subsection |
| 20 | | (a), a community
currency exchange licensee may submit evidence |
| 21 | | satisfactory to the Secretary
that the community currency |
| 22 | | exchange licensee is covered by a blanket bond that
covers |
| 23 | | multiple licensees who are members of a statewide association |
| 24 | | of
community currency exchanges. Such a blanket bond must be |
| 25 | | issued by a bonding
company authorized to do business in this |
| 26 | | State and in a principal aggregate
sum of not less than |
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| 1 | | $3,000,000 as of May 1, 2012, and not less than $4,000,000 as |
| 2 | | of May 1, 2014.
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| 3 | | (c) An ambulatory currency exchange may sell or issue money |
| 4 | | orders
at any location with regard to which it
is issued a |
| 5 | | license pursuant to this Act, including existing
licensed |
| 6 | | locations, without the necessity of a further
application or |
| 7 | | hearing and without regard to any exceptions
contained in |
| 8 | | existing licenses, upon the filing with
the Secretary of a |
| 9 | | surety bond approved by the Secretary and issued by a bonding
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| 10 | | company
or insurance company authorized to do business in |
| 11 | | Illinois,
in the principal sum of $100,000. Such bond may be a |
| 12 | | blanket
bond covering all locations at which the ambulatory |
| 13 | | currency
exchange may sell or issue money orders,
and shall run |
| 14 | | to the Secretary for the
use and benefit of any creditors of |
| 15 | | such ambulatory currency
exchange for any liability incurred by |
| 16 | | the ambulatory currency
exchange on any money orders issued or |
| 17 | | sold by it to the public in the ordinary course of its |
| 18 | | business.
Such bond shall be renewed annually. If after
the |
| 19 | | expiration of one year from the date of approval of such
bond |
| 20 | | by the Secretary, it shall appear that the average amount
of |
| 21 | | such liability during the year has exceeded $100,000,
the |
| 22 | | Secretary shall require the licensee to furnish a bond for
the |
| 23 | | ensuing year, to be approved by the Secretary,
for an |
| 24 | | additional principal sum of $1,000 for each $1,000 of
such |
| 25 | | liability or fraction thereof in excess of the original
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| 26 | | $100,000, except that the maximum amount of such bond shall not |
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| 1 | | be required to
exceed $250,000.
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| 2 | | (Source: P.A. 97-315, eff. 1-1-12.)
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| 3 | | (205 ILCS 405/9) (from Ch. 17, par. 4816)
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| 4 | | Sec. 9.
No community or ambulatory currency exchange shall |
| 5 | | issue
tokens to be used in lieu of money for the purchase of |
| 6 | | goods or services
from any enterprise, except that currency |
| 7 | | exchanges may engage in
the distribution of food stamps as |
| 8 | | authorized by Section 3.2.
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| 9 | | (Source: P.A. 80-439.)
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| 10 | | (205 ILCS 405/9.5 new) |
| 11 | | Sec. 9.5. Hearings; subpoena power. For the purposes of |
| 12 | | this Act, the Secretary, the arbitrator, or any administrative |
| 13 | | law judge shall have the power to require by subpoena the |
| 14 | | attendance and testimony of witnesses and the production of all |
| 15 | | documentary evidence relating to any matter under hearing under |
| 16 | | this Act and shall issue the subpoenas at the request of any |
| 17 | | interested party. The arbitrator or administrative law judge |
| 18 | | may sign subpoenas in the name of the Secretary. |
| 19 | | As decided by the licensee, any hearing pursuant to this |
| 20 | | Act shall either be (1) administered through binding |
| 21 | | arbitration by an arbitrator mutually agreed to by the parties |
| 22 | | or, failing agreement within 30 days, by an arbitrator chosen |
| 23 | | in accordance with the rules of the American Arbitration |
| 24 | | Association, or (2) brought before an administrative law judge, |
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| 1 | | and all final administrative decisions shall be subject to |
| 2 | | judicial review pursuant to the provisions of the |
| 3 | | Administrative Review Law. The cost of the hearing shall be |
| 4 | | paid by the applicant, licensee, or party other than the |
| 5 | | Secretary. The Secretary, arbitrator, or administrative law |
| 6 | | judge shall administer oaths and affirmations to all witnesses |
| 7 | | appearing before them. The arbitrator or administrative law |
| 8 | | judge, upon the conclusion of the hearing, shall certify the |
| 9 | | evidence to the Secretary. The decision by the arbitrator shall |
| 10 | | be binding upon the parties. |
| 11 | | All hearings shall be scheduled within 30 days after the |
| 12 | | request for a hearing, unless otherwise stated in this Act or |
| 13 | | agreed to by the parties. The hearing shall be held at the time |
| 14 | | and place designated by the Secretary. |
| 15 | | Any circuit court of this State within the jurisdiction |
| 16 | | where the hearing is conducted may, in the case of an |
| 17 | | individual's refusal to appear or refusal of a witness to obey |
| 18 | | a subpoena, issue an order requiring the witness to appear |
| 19 | | before the Director or the hearing officer or to produce |
| 20 | | documentary evidence or to give relevant testimony. Any failure |
| 21 | | to obey an order of the court may be punished as contempt of |
| 22 | | court.
|
| 23 | | (205 ILCS 405/11) (from Ch. 17, par. 4819)
|
| 24 | | Sec. 11.
Such license, if issued for a community currency |
| 25 | | exchange, shall
state the name of the licensee and the address |
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| 1 | | at which the business is to
be conducted. Such license, or and |
| 2 | | its annual renewal, shall be kept conspicuously posted in the |
| 3 | | place
of business of the licensee and shall not be transferable |
| 4 | | or assignable. If
issued for an ambulatory currency exchange, |
| 5 | | it shall so state, and shall
state the name and office address |
| 6 | | of the licensee, and the name and address
of the location or |
| 7 | | locations to be served by the licensee, and shall not be
|
| 8 | | transferable and assignable.
|
| 9 | | (Source: P.A. 97-315, eff. 1-1-12.)
|
| 10 | | (205 ILCS 405/13) (from Ch. 17, par. 4821)
|
| 11 | | Sec. 13.
No more than one place of business shall be |
| 12 | | maintained under
the same community currency exchange license, |
| 13 | | but the Secretary may issue
more than one license to the same |
| 14 | | licensee upon compliance with the
provisions of this Act |
| 15 | | governing an original issuance of a license, for
each new |
| 16 | | license.
|
| 17 | | Whenever a community currency exchange or an ambulatory |
| 18 | | currency
exchange shall wish to change its name in its license, |
| 19 | | it shall file an
application for approval thereof with the |
| 20 | | Secretary, and if the change is
approved by the Secretary he |
| 21 | | shall attach to the license, in writing, a
rider stating the |
| 22 | | licensee's new name.
|
| 23 | | If an ambulatory currency exchange has serviced a licensed |
| 24 | | location for
2 years or longer and the employer whose employees |
| 25 | | are served at that location
has moved his place of business, |
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| 1 | | the currency exchange may continue its
service to the employees |
| 2 | | of that employer at the new address of that employer's
place of |
| 3 | | business by filing a notice of the change of address with the |
| 4 | | Secretary
and by relinquishing its license to conduct its |
| 5 | | business at the employer's
old address upon receipt of a |
| 6 | | license to conduct its business at the employer's
new address. |
| 7 | | Nothing in this Act shall preclude or prevent an ambulatory
|
| 8 | | currency exchange from filing an application to conduct its |
| 9 | | business at
the old address of an employer who moved his place |
| 10 | | of business after the
ambulatory currency exchange receives a |
| 11 | | license to conduct its business
at the employer's new address |
| 12 | | through the filing of a notice of its change
of address with |
| 13 | | the Secretary and the relinquishing of its license to conduct
|
| 14 | | its business at the employer's old address.
|
| 15 | | Whenever a currency exchange wishes to make any other |
| 16 | | change in the address
set forth in any of its licenses, it |
| 17 | | shall apply to the Secretary for approval
of such change of |
| 18 | | address.
Every application for approval of a change of address |
| 19 | | shall be treated by
the Secretary in the same manner as is |
| 20 | | otherwise provided in this Act for
the treatment of proposed |
| 21 | | places of business or locations as contained in
new |
| 22 | | applications for licenses; and if any fact or condition then |
| 23 | | exists
with respect to the application for change of address, |
| 24 | | which fact or condition
would otherwise authorize denial of a |
| 25 | | new application for a license because
of the address of the |
| 26 | | proposed location or place of business, then such
application |
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| 1 | | for change of address shall not be approved. Whenever a
|
| 2 | | community currency exchange wishes to sell its physical assets, |
| 3 | | it may do
so, however, if the assets are sold with the |
| 4 | | intention of continuing the
operation of a community currency |
| 5 | | exchange, the purchaser or purchasers
must first make |
| 6 | | application to the Secretary for licensure in accordance
with |
| 7 | | Sections 4 and 10 of this Act. If the Secretary shall not so |
| 8 | | approve,
he shall not issue such license and shall notify the |
| 9 | | applicant or
applicants of such denial. The investigation fee |
| 10 | | for a change of location
is $500.
|
| 11 | | The provisions of Sections 4.1a and Section 10 with |
| 12 | | reference to notice, hearing and review
apply to applications |
| 13 | | filed pursuant to this Section.
|
| 14 | | (Source: P.A. 97-315, eff. 1-1-12.)
|
| 15 | | (205 ILCS 405/13.1) (from Ch. 17, par. 4822)
|
| 16 | | Sec. 13.1. Consolidation of business locations. Whenever 2 |
| 17 | | or more
licensees desire to consolidate their places
of |
| 18 | | business, they shall make application for such consolidation to |
| 19 | | the
Secretary upon a form provided by him or her. This |
| 20 | | application shall state: (a) the
name to be adopted and the |
| 21 | | location at which the business is to be located,
which name and |
| 22 | | location shall be the same as one of the consolidating
|
| 23 | | licensees; (b) that the owners or all partners or all |
| 24 | | stockholders or all
members, as the
case may be, of the |
| 25 | | licensees involved in the contemplated consolidation,
have |
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| 1 | | approved the application; (c) a certification by the secretary, |
| 2 | | if any
of the licensees be corporations, that the contemplated |
| 3 | | consolidation has
been approved by all of the stockholders at a |
| 4 | | properly convened
stockholders meeting; (d) other relevant |
| 5 | | information the Secretary may
require. Simultaneously with the |
| 6 | | approval of the application by the
Secretary, the licensee or |
| 7 | | licensees who will cease doing business shall:
(a) surrender |
| 8 | | their license or licenses to the Secretary; (b) transfer all
of |
| 9 | | their assets and liabilities to the licensee continuing to |
| 10 | | operate by
virtue of the application; (c) apply to the |
| 11 | | Secretary of State, if they be
corporations, for surrender of |
| 12 | | their corporate charter in accordance with
the provisions of |
| 13 | | the Business Corporation Act of 1983.
|
| 14 | | An application for consolidation shall be approved or |
| 15 | | rejected by the
Secretary within 30 days after receipt by him |
| 16 | | of such application and
supporting documents required |
| 17 | | thereunder. The Secretary shall impose a consolidation fee of |
| 18 | | $100 per application.
|
| 19 | | Such consolidation shall not affect suits pending in which |
| 20 | | the
surrendering licensees are parties; nor shall such |
| 21 | | consolidation affect
causes of action nor the rights of persons |
| 22 | | in particular; nor shall suits
brought against such licensees |
| 23 | | in their former names be abated for that
cause.
|
| 24 | | Nothing contained herein shall limit or prohibit any action |
| 25 | | or remedy
available to a licensee or to the Secretary under |
| 26 | | Sections 15, 15.1 to 15.1e
or 15.2 of this Act.
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| 1 | | (Source: P.A. 97-315, eff. 1-1-12.)
|
| 2 | | (205 ILCS 405/15) (from Ch. 17, par. 4824)
|
| 3 | | Sec. 15. Fines; suspension; revocation. The Secretary may |
| 4 | | fine, suspend, or revoke any license issued under this Act if |
| 5 | | he or she finds that: The Secretary may, after 15 days notice |
| 6 | | by registered or certified mail to the licensee at the address |
| 7 | | set forth in the license stating the contemplated action and in |
| 8 | | general the grounds therefore, fine the licensee an amount not |
| 9 | | exceeding $1,000 per violation or revoke or suspend any license |
| 10 | | issued if he or she finds that:
|
| 11 | | (a) the licensee has failed to pay the annual license |
| 12 | | fee or to
maintain in effect the required bond or bonds or |
| 13 | | insurance policy or
policies; or
|
| 14 | | (b) the licensee has failed to comply with any |
| 15 | | provision of this Act or any order, decision, finding, |
| 16 | | rule, regulation, or direction of the Secretary lawfully |
| 17 | | made under the authority of this Act; or |
| 18 | | (c) the licensee has violated any provision of this Act |
| 19 | | or any
regulation or direction made by the Secretary under |
| 20 | | this Act; or
|
| 21 | | (d) any fact or condition exists which, if it had |
| 22 | | existed at the
time of the original application for such |
| 23 | | license, would have warranted
the Secretary in refusing the |
| 24 | | issuance of the license; or
|
| 25 | | (e) the licensee has not operated the currency exchange |
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| 1 | | or at the
location licensed, for a period of 60 consecutive |
| 2 | | days, unless the
licensee was prevented from operating |
| 3 | | during such period by reason of
events or acts beyond the |
| 4 | | licensee's control.
|
| 5 | | The Secretary's authority to fine a licensee or suspend or |
| 6 | | revoke licenses under this Section is subject to the following: |
| 7 | | (1) No less than 15 business days before issuing any |
| 8 | | fine, suspension, or revocation, the Secretary shall send |
| 9 | | to the licensee a notice of contemplated action in writing |
| 10 | | by registered mail at the address set forth in the license |
| 11 | | or to such other address or by method as previously |
| 12 | | designated by the licensee. |
| 13 | | (2) The notice shall state (i) the specific nature and |
| 14 | | a clear and concise description of the violation, (ii) the |
| 15 | | Sections or rules that have been violated, (iii) the |
| 16 | | contemplated fine or action, (iv) that the licensee may, |
| 17 | | within 15 business days from the date of the notice, |
| 18 | | request a hearing under Section 9.5 of this Act, (v) that |
| 19 | | the licensee may, within 15 business days after the notice, |
| 20 | | take corrective action to mitigate any fine or contemplated |
| 21 | | action, and (vi) the specific corrective action to be |
| 22 | | taken. |
| 23 | | (3) In the event the licensee requests, in writing to |
| 24 | | the Secretary and within 15 business days after the notice, |
| 25 | | a hearing on the fine or contemplated action, the matter |
| 26 | | shall be heard pursuant to Section 9.5 of this Act, any |
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| 1 | | fines or contemplated action shall be stayed and no fines |
| 2 | | shall accrue during the pendency of the hearing. |
| 3 | | (4) In the event the licensee takes the corrective |
| 4 | | action set forth in the notice within the time specified, |
| 5 | | the licensee shall certify the corrective action in writing |
| 6 | | to the Secretary, who may then confirm the corrective |
| 7 | | action by conducting a follow-up investigation within 30 |
| 8 | | days of the date of the certification and if the Secretary |
| 9 | | confirms the corrective action is complete, he or she may |
| 10 | | assess an examination charge not to exceed $100, provided, |
| 11 | | however that corrective action taken by a licensee shall |
| 12 | | not serve to mitigate any contemplated fine or action if |
| 13 | | the violation is an impairment or is substantially similar |
| 14 | | to a violation committed by the licensee and at the |
| 15 | | specific location within the previous 36 months. |
| 16 | | Consistent with the provisions of this Act, the Secretary |
| 17 | | may, after weighing any harm to the public, the seriousness of |
| 18 | | the offense, and the history of the licensee, fine a licensee |
| 19 | | up to a maximum of $1,000 per violation. "Violation" means the |
| 20 | | offending act taken as a whole. Each day, incident, or |
| 21 | | occurrence the offending act occurred shall not be construed as |
| 22 | | a separate violation. |
| 23 | | No license shall be revoked until the licensee has had |
| 24 | | notice of a hearing on the proposed revocation and an |
| 25 | | opportunity to be heard. When any license is revoked in this |
| 26 | | manner, the Secretary shall, within 20 days, prepare and keep |
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| 1 | | on file in his or her office, a written order or decision of |
| 2 | | revocation that shall contain his or her findings and the |
| 3 | | reasons supporting the revocation. The Secretary shall send a |
| 4 | | copy of the order, finding, or decision of revocation by United |
| 5 | | States mail to the licensee at the address set forth in the |
| 6 | | license within 5 days after the filing in his or her office of |
| 7 | | the order, finding, or decision. A review of any such order, |
| 8 | | finding, or decision is available under Section 9.5 of this |
| 9 | | Act. |
| 10 | | The Secretary may fine, suspend or revoke only the |
| 11 | | particular license or licenses for
particular places of |
| 12 | | business or locations with respect to which grounds
for |
| 13 | | revocation may occur or exist; except that if he shall find |
| 14 | | that
such grounds for revocation are of general application to |
| 15 | | all places of
business or locations, or that such grounds for |
| 16 | | fines, suspension or revocation
have occurred
or exist with |
| 17 | | respect to a substantial number of places of business or
|
| 18 | | locations, he may fine, suspend or revoke all of the licenses |
| 19 | | issued to such licensee. |
| 20 | | An order assessing a fine, an order revoking or |
| 21 | | suspending a license, or an order denying renewal of a |
| 22 | | license shall take effect on service of the order unless |
| 23 | | the licensee requests a hearing, in writing, within 15 days |
| 24 | | after the date of service. In the event a hearing is |
| 25 | | requested, the order shall be stayed until a final |
| 26 | | administrative order is entered. If the licensee requests a |
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| 1 | | hearing, the Secretary shall schedule a hearing within 30 |
| 2 | | days after the request for a hearing unless otherwise |
| 3 | | agreed to by the parties. The hearing shall be held at the |
| 4 | | time and place designated by the Secretary. |
| 5 | | The Secretary and any administrative law judge |
| 6 | | designated by him or her shall have the power to administer |
| 7 | | oaths and affirmations, subpoena witnesses and compel |
| 8 | | their attendance, take evidence, and require the |
| 9 | | production of books, papers, correspondence, and other |
| 10 | | records or information that he or she considers relevant or |
| 11 | | material to the inquiry. |
| 12 | | In case of contumacy or refusal of a witness to obey a |
| 13 | | subpoena, any circuit court of this State whose |
| 14 | | jurisdiction encompasses where the hearing is located may |
| 15 | | issue an order requiring such witness to appear before the |
| 16 | | Secretary or the hearing officer, to produce documentary |
| 17 | | evidence, or to give testimony touching the matter in |
| 18 | | question; and the court may punish any failures to obey |
| 19 | | such orders of the court as contempt.
|
| 20 | | A licensee may surrender any license by delivering to |
| 21 | | the Secretary
written notice that he, they or it thereby |
| 22 | | surrenders such license, but
such surrender shall not |
| 23 | | affect such licensee's civil or criminal
liability for acts |
| 24 | | committed prior to such surrender, or affect the
liability |
| 25 | | on his, their or its bond or bonds, or his, their or its
|
| 26 | | policy or policies of insurance, required by this Act, or |
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| 1 | | entitle such
licensee to a return of any part of the annual |
| 2 | | license fee or fees.
|
| 3 | | Every license issued hereunder shall remain in force until |
| 4 | | the same
shall expire, or shall have been surrendered, |
| 5 | | suspended or revoked in accordance
with this Act, but the |
| 6 | | Secretary may on his own motion, issue new
licenses to a |
| 7 | | licensee whose license or licenses shall have been revoked
if |
| 8 | | no fact or condition then exists which clearly would have |
| 9 | | warranted
the Secretary in refusing originally the issuance of |
| 10 | | such license under
this Act.
|
| 11 | | (Source: P.A. 97-315, eff. 1-1-12.)
|
| 12 | | (205 ILCS 405/15.1) (from Ch. 17, par. 4825)
|
| 13 | | Sec. 15.1.
If the Secretary determines that any licensee is |
| 14 | | insolvent or is violating this Act, or if the owner, executor, |
| 15 | | or successor in interest of a currency exchange abandons the |
| 16 | | currency exchange, he or she shall, within 5 business days, |
| 17 | | appoint a receiver, who shall, under his
or her direction, for |
| 18 | | the purpose of receivership, take possession of and title to
|
| 19 | | the books, records, and assets of every description of the |
| 20 | | community
currency exchange. The Secretary may require of the |
| 21 | | receiver such security
as he or she deems proper and, upon |
| 22 | | appointment of the receiver, shall have
published, once each |
| 23 | | week for 4 consecutive weeks in a newspaper having a
general |
| 24 | | circulation in the community, a notice calling on all persons |
| 25 | | who
have claims against the community currency exchange, to |
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| 1 | | present them to the
receiver.
|
| 2 | | Within 10 days after the receiver takes possession of the |
| 3 | | property, the
licensee may apply to the Circuit Court of the |
| 4 | | county where the community currency exchange is located to |
| 5 | | enjoin
further proceedings in the premises.
|
| 6 | | The receiver may operate the community currency exchange |
| 7 | | until the
Secretary determines that possession should be |
| 8 | | restored to the licensee or
that the business should be |
| 9 | | liquidated.
|
| 10 | | (Source: P.A. 97-315, eff. 1-1-12.)
|
| 11 | | (205 ILCS 405/3.1 rep.)
|
| 12 | | (205 ILCS 405/3.2 rep.)
|
| 13 | | (205 ILCS 405/3.3 rep.)
|
| 14 | | (205 ILCS 405/22.01 rep.) |
| 15 | | Section 10. The Currency Exchange Act is amended by |
| 16 | | repealing Sections 3.1, 3.2, 3.3, and 22.01.".
|