Illinois 2023-2024 Regular Session

Illinois House Bill HB3693 Compare Versions

Only one version of the bill is available at this time.

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1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3693 Introduced , by Rep. Camille Y. Lilly SYNOPSIS AS INTRODUCED: See Index Amends the Illinois Credit Union Act, the Transmitters of Money Act, the Sales Finance Agency Act, the Debt Management Service Act, the Consumer Installment Loan Act, the Debt Settlement Consumer Protection Act, and the Payday Loan Reform Act. Requires applicants for a license or renewal of a license to operate a credit union, operate as a transmitter of money, engage in the business of a sales finance agency, engage in a debt management service, make consumer installment loans, operate as a debt settlement provider, or operate as a lender of payday loans to provide an email address of record to the Department of Financial and Professional Regulation. In provisions concerning service of certain notices and orders, allows service by email to the email address of record. Provides that service to an email address of record is deemed complete when sent. Provides that service by certified mail shall be deemed completed when the notice is deposited in the United States mail. Defines the term "email address of record". Makes other changes. LRB103 28809 BMS 55194 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3693 Introduced , by Rep. Camille Y. Lilly SYNOPSIS AS INTRODUCED: See Index See Index Amends the Illinois Credit Union Act, the Transmitters of Money Act, the Sales Finance Agency Act, the Debt Management Service Act, the Consumer Installment Loan Act, the Debt Settlement Consumer Protection Act, and the Payday Loan Reform Act. Requires applicants for a license or renewal of a license to operate a credit union, operate as a transmitter of money, engage in the business of a sales finance agency, engage in a debt management service, make consumer installment loans, operate as a debt settlement provider, or operate as a lender of payday loans to provide an email address of record to the Department of Financial and Professional Regulation. In provisions concerning service of certain notices and orders, allows service by email to the email address of record. Provides that service to an email address of record is deemed complete when sent. Provides that service by certified mail shall be deemed completed when the notice is deposited in the United States mail. Defines the term "email address of record". Makes other changes. LRB103 28809 BMS 55194 b LRB103 28809 BMS 55194 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3693 Introduced , by Rep. Camille Y. Lilly SYNOPSIS AS INTRODUCED:
3	3	See Index See Index
4	4	See Index
5	5	Amends the Illinois Credit Union Act, the Transmitters of Money Act, the Sales Finance Agency Act, the Debt Management Service Act, the Consumer Installment Loan Act, the Debt Settlement Consumer Protection Act, and the Payday Loan Reform Act. Requires applicants for a license or renewal of a license to operate a credit union, operate as a transmitter of money, engage in the business of a sales finance agency, engage in a debt management service, make consumer installment loans, operate as a debt settlement provider, or operate as a lender of payday loans to provide an email address of record to the Department of Financial and Professional Regulation. In provisions concerning service of certain notices and orders, allows service by email to the email address of record. Provides that service to an email address of record is deemed complete when sent. Provides that service by certified mail shall be deemed completed when the notice is deposited in the United States mail. Defines the term "email address of record". Makes other changes.
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8	8	A BILL FOR
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11	11	1 AN ACT concerning regulation.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Illinois Credit Union Act is amended by
15	15	5 changing Sections 1.1, 2, 8, 21, and 61 as follows:
16	16	6 (205 ILCS 305/1.1) (from Ch. 17, par. 4402)
17	17	7 Sec. 1.1. Definitions.
18	18	8 Credit Union - The term "credit union" means a
19	19	9 cooperative, non-profit association, incorporated under this
20	20	10 Act, under the laws of the United States of America or under
21	21	11 the laws of another state, for the purposes of encouraging
22	22	12 thrift among its members, creating a source of credit at a
23	23	13 reasonable rate of interest, and providing an opportunity for
24	24	14 its members to use and control their own money in order to
25	25	15 improve their economic and social conditions. The membership
26	26	16 of a credit union shall consist of a group or groups each
27	27	17 having a common bond as set forth in this Act.
28	28	18 Common Bond - The term "common bond" refers to groups of
29	29	19 people who meet one of the following qualifications:
30	30	20 (1) Persons belonging to a specific association, group
31	31	21 or organization, such as a church, labor union, club or
32	32	22 society and members of their immediate families which
33	33	23 shall include any relative by blood or marriage or foster
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3693 Introduced , by Rep. Camille Y. Lilly SYNOPSIS AS INTRODUCED:
38	38	See Index See Index
39	39	See Index
40	40	Amends the Illinois Credit Union Act, the Transmitters of Money Act, the Sales Finance Agency Act, the Debt Management Service Act, the Consumer Installment Loan Act, the Debt Settlement Consumer Protection Act, and the Payday Loan Reform Act. Requires applicants for a license or renewal of a license to operate a credit union, operate as a transmitter of money, engage in the business of a sales finance agency, engage in a debt management service, make consumer installment loans, operate as a debt settlement provider, or operate as a lender of payday loans to provide an email address of record to the Department of Financial and Professional Regulation. In provisions concerning service of certain notices and orders, allows service by email to the email address of record. Provides that service to an email address of record is deemed complete when sent. Provides that service by certified mail shall be deemed completed when the notice is deposited in the United States mail. Defines the term "email address of record". Makes other changes.
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43	43	A BILL FOR
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68	68	1 and adopted children.
69	69	2 (2) Persons who reside in a reasonably compact and
70	70	3 well defined neighborhood or community, and members of
71	71	4 their immediate families which shall include any relative
72	72	5 by blood or marriage or foster and adopted children.
73	73	6 (3) Persons who have a common employer or who are
74	74	7 members of an organized labor union or an organized
75	75	8 occupational or professional group within a defined
76	76	9 geographical area, and members of their immediate families
77	77	10 which shall include any relative by blood or marriage or
78	78	11 foster and adopted children.
79	79	12 Shares - The term "shares" or "share accounts" means any
80	80	13 form of shares issued by a credit union and established by a
81	81	14 member in accordance with standards specified by a credit
82	82	15 union, including but not limited to common shares, share draft
83	83	16 accounts, classes of shares, share certificates, special
84	84	17 purpose share accounts, shares issued in trust, custodial
85	85	18 accounts, and individual retirement accounts or other plans
86	86	19 established pursuant to Section 401(d) or (f) or Section
87	87	20 408(a) of the Internal Revenue Code, as now or hereafter
88	88	21 amended, or similar provisions of any tax laws of the United
89	89	22 States that may hereafter exist.
90	90	23 Credit Union Organization - The term "credit union
91	91	24 organization" means any organization established to serve the
92	92	25 needs of credit unions, the business of which relates to the
93	93	26 daily operations of credit unions.
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104	104	1 Department - The term "Department" means the Illinois
105	105	2 Department of Financial and Professional Regulation.
106	106	3 Email address of record The term "email address of
107	107	4 record" means an accurate and current email address designated
108	108	5 by a credit union and recorded by the Division of Financial
109	109	6 Institutions in the credit union's file maintained by the
110	110	7 Division of Financial Institutions.
111	111	8 Secretary - The term "Secretary" means the Secretary of
112	112	9 Financial and Professional Regulation or a person authorized
113	113	10 by the Secretary or this Act to act in the Secretary's stead.
114	114	11 Division of Financial Institutions - The term "Division of
115	115	12 Financial Institutions" means the Division of Financial
116	116	13 Institutions of the Department of Financial and Professional
117	117	14 Regulation.
118	118	15 Director - The term "Director of Financial Institutions"
119	119	16 means the Director of the Division of Financial Institutions
120	120	17 of the Department of Financial and Professional Regulation.
121	121	18 Office - The term "office" means the Division of Financial
122	122	19 Institutions of the Department of Financial and Professional
123	123	20 Regulation.
124	124	21 NCUA - The term "NCUA" means the National Credit Union
125	125	22 Administration, an agency of the United States Government
126	126	23 charged with the supervision of credit unions chartered under
127	127	24 the laws of the United States of America.
128	128	25 Central Credit Union - The term "central credit union"
129	129	26 means a credit union incorporated primarily to receive shares
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140	140	1 from and make loans to credit unions and directors, officers,
141	141	2 committee members and employees of credit unions. A central
142	142	3 credit union may also accept as members persons who were
143	143	4 members of credit unions which were liquidated and persons
144	144	5 from occupational groups not otherwise served by another
145	145	6 credit union.
146	146	7 Corporate Credit Union - The term "corporate credit union"
147	147	8 means a credit union which is a cooperative, non-profit
148	148	9 association, the membership of which is limited primarily to
149	149	10 other credit unions.
150	150	11 Insolvent - "Insolvent" means the condition that results
151	151	12 when the total of all liabilities and shares exceeds net
152	152	13 assets of the credit union.
153	153	14 Danger of insolvency - For purposes of Section 61, a
154	154	15 credit union is in "danger of insolvency" if its net worth to
155	155	16 asset ratio falls below 2%. In calculating the danger of
156	156	17 insolvency ratio, secondary capital shall be excluded. For
157	157	18 purposes of Section 61, a credit union is also in "danger of
158	158	19 insolvency" if the Department is unable to ascertain, upon
159	159	20 examination, the true financial condition of the credit union.
160	160	21 Net Worth - "Net worth" means the retained earnings
161	161	22 balance of the credit union, as determined under generally
162	162	23 accepted accounting principles, and forms of secondary capital
163	163	24 approved by the Secretary and the Director pursuant to
164	164	25 rulemaking.
165	165	26 Charitable Donation Account - The term "charitable
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176	176	1 donation account" means an account owned by a credit union
177	177	2 that is held in a segregated custodial account or special
178	178	3 purpose entity and specifically identified as a charitable
179	179	4 donation account whereby, no less frequently than every 5
180	180	5 years and upon termination of the account, at least 51% of the
181	181	6 total return on assets in the account is distributed to one or
182	182	7 more charitable organizations or non-profit entities.
183	183	8 (Source: P.A. 97-133, eff. 1-1-12; 98-784, eff. 7-24-14.)
184	184	9 (205 ILCS 305/2) (from Ch. 17, par. 4403)
185	185	10 Sec. 2. Organization procedure.
186	186	11 (1) Any 9 or more persons of legal age, the majority of
187	187	12 whom shall be residents of the State of Illinois, who have a
188	188	13 common bond referred to in Section 1.1 may organize a credit
189	189	14 union or a central credit union by complying with this
190	190	15 Section.
191	191	16 (2) The subscribers shall execute in duplicate Articles of
192	192	17 Incorporation and agree to the terms thereof, which Articles
193	193	18 shall state:
194	194	19 (a) The name, which shall include the words "credit
195	195	20 union" and which shall not be the same as that of any other
196	196	21 existing credit union in this state, and the location
197	197	22 where the proposed credit union is to have its principal
198	198	23 place of business;
199	199	24 (b) The common bond of the members of the credit
200	200	25 union;
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211	211	1 (c) The par value of the shares of the credit union,
212	212	2 which must be at least $1;
213	213	3 (d) The names, addresses and Social Security numbers
214	214	4 of the subscribers to the Articles of Incorporation, and
215	215	5 the number and the value of shares subscribed to by each;
216	216	6 (e) That the credit union may exercise such incidental
217	217	7 powers as are necessary or requisite to enable it to carry
218	218	8 on effectively the purposes for which it is incorporated,
219	219	9 and those powers which are inherent in the credit union as
220	220	10 a legal entity;
221	221	11 (f) That the existence of the credit union shall be
222	222	12 perpetual.
223	223	13 (3) The subscribers shall prepare and adopt bylaws for the
224	224	14 general government of the credit union, consistent with this
225	225	15 Act, and execute same in duplicate.
226	226	16 (4) The subscribers shall forward the articles of
227	227	17 incorporation and the bylaws to the Secretary in duplicate,
228	228	18 along with the required charter fee. If they conform to the
229	229	19 law, and such rules and regulations as the Secretary and the
230	230	20 Director may prescribe, if the Secretary determines that a
231	231	21 common bond exists, and that it is economically advisable to
232	232	22 organize the credit union, he or she shall within 60 days issue
233	233	23 a certificate of approval attached to the articles of
234	234	24 incorporation and return a copy of the bylaws and the articles
235	235	25 of incorporation to the applicants or their representative,
236	236	26 which shall be preserved in the permanent files of the credit
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247	247	1 union. The subscribers shall file the certificate of approval,
248	248	2 with the articles of incorporation attached, in the office of
249	249	3 the recorder (or, if there is no recorder, in the office of the
250	250	4 county clerk) of the county in which the credit union is to
251	251	5 locate its principal place of business. The recorder or the
252	252	6 county clerk, as the case may be, shall accept and record the
253	253	7 documents if they are accompanied by the proper fee. When the
254	254	8 documents are so recorded, the credit union is incorporated
255	255	9 under this Act.
256	256	10 (5) The subscribers for a credit union charter shall not
257	257	11 transact any business until the certificate of approval has
258	258	12 been received.
259	259	13 (6) At the time of executing the articles of
260	260	14 incorporation, the subscribers shall provide an email address
261	261	15 of record.
262	262	16 (Source: P.A. 100-361, eff. 8-25-17.)
263	263	17 (205 ILCS 305/8) (from Ch. 17, par. 4409)
264	264	18 Sec. 8. Secretary's powers and duties. Credit unions are
265	265	19 regulated by the Department. The Secretary in executing the
266	266	20 powers and discharging the duties vested by law in the
267	267	21 Department has the following powers and duties:
268	268	22 (1) To exercise the rights, powers, and duties set
269	269	23 forth in this Act or any related Act. The Director shall
270	270	24 oversee the functions of the Division and report to the
271	271	25 Secretary, with respect to the Director's exercise of any
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282	282	1 of the rights, powers, and duties vested by law in the
283	283	2 Secretary under this Act. All references in this Act to
284	284	3 the Secretary shall be deemed to include the Director, as
285	285	4 a person authorized by the Secretary or this Act to assume
286	286	5 responsibility for the oversight of the functions of the
287	287	6 Department relating to the regulatory supervision of
288	288	7 credit unions under this Act.
289	289	8 (2) To prescribe rules and regulations for the
290	290	9 administration of this Act. The provisions of the Illinois
291	291	10 Administrative Procedure Act are hereby expressly adopted
292	292	11 and incorporated herein as though a part of this Act, and
293	293	12 shall apply to all administrative rules and procedures of
294	294	13 the Department under this Act.
295	295	14 (3) To direct and supervise all the administrative and
296	296	15 technical activities of the Department including the
297	297	16 employment of a Credit Union Supervisor who shall have
298	298	17 knowledge in the theory and practice of, or experience in,
299	299	18 the operations or supervision of financial institutions,
300	300	19 preferably credit unions, and such other persons as are
301	301	20 necessary to carry out his functions. The Secretary shall
302	302	21 ensure that all examiners appointed or assigned to examine
303	303	22 the affairs of State-chartered credit unions possess the
304	304	23 necessary training and continuing education to effectively
305	305	24 execute their jobs.
306	306	25 (4) To issue cease and desist orders when in the
307	307	26 opinion of the Secretary, a credit union is engaged or has
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318	318	1 engaged, or the Secretary has reasonable cause to believe
319	319	2 the credit union is about to engage, in an unsafe or
320	320	3 unsound practice, or is violating or has violated or the
321	321	4 Secretary has reasonable cause to believe is about to
322	322	5 violate a law, rule, or regulation or any condition
323	323	6 imposed in writing by the Department.
324	324	7 (5) To suspend from office and to prohibit from
325	325	8 further participation in any manner in the conduct of the
326	326	9 affairs of any credit union any director, officer, or
327	327	10 committee member who has committed any violation of a law,
328	328	11 rule, or regulation or of a cease and desist order or who
329	329	12 has engaged or participated in any unsafe or unsound
330	330	13 practice in connection with the credit union or who has
331	331	14 committed or engaged in any act, omission, or practice
332	332	15 which constitutes a breach of his fiduciary duty as such
333	333	16 director, officer, or committee member, when the Secretary
334	334	17 has determined that such action or actions have resulted
335	335	18 or will result in substantial financial loss or other
336	336	19 damage that seriously prejudices the interests of the
337	337	20 members.
338	338	21 (6) To assess a civil penalty against a credit union
339	339	22 provided that:
340	340	23 (A) the Secretary reasonably determines, based on
341	341	24 objective facts and an accurate assessment of
342	342	25 applicable legal standards, that the credit union has:
343	343	26 (i) committed a violation of this Act, any
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354	354	1 rule adopted in accordance with this Act, or any
355	355	2 order of the Secretary issued pursuant to his or
356	356	3 her authority under this Act; or
357	357	4 (ii) engaged or participated in any unsafe or
358	358	5 unsound practice;
359	359	6 (B) before a civil penalty is assessed under this
360	360	7 item (6), the Secretary must make the further
361	361	8 reasonable determination, based on objective facts and
362	362	9 an accurate assessment of applicable legal standards,
363	363	10 that the credit union's action constituting a
364	364	11 violation under subparagraph (i) of paragraph (A) of
365	365	12 this item (6) or an unsafe and unsound practice under
366	366	13 subparagraph (ii) of paragraph (A) of this item (6):
367	367	14 (i) directly resulted in a substantial and
368	368	15 material financial loss or created a reasonable
369	369	16 probability that a substantial and material
370	370	17 financial loss will directly result; or
371	371	18 (ii) constituted willful misconduct or a
372	372	19 material breach of fiduciary duty of any director,
373	373	20 officer, or committee member of the credit union;
374	374	21 Material financial loss, as referenced in this
375	375	22 paragraph (B), shall be assessed in light of
376	376	23 surrounding circumstances and the relative size and
377	377	24 nature of the financial loss or probable financial
378	378	25 loss. Certain benchmarks shall be used in determining
379	379	26 whether financial loss is material, such as a
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390	390	1 percentage of total assets or total gross income for
391	391	2 the immediately preceding 12-month period. Absent
392	392	3 compelling and extraordinary circumstances, no civil
393	393	4 penalty shall be assessed, unless the financial loss
394	394	5 or probable financial loss is equal to or greater than
395	395	6 either 1% of the credit union's total assets for the
396	396	7 immediately preceding 12-month period, or 1% of the
397	397	8 credit union's total gross income for the immediately
398	398	9 preceding 12-month period, whichever is less;
399	399	10 (C) before a civil penalty is assessed under this
400	400	11 item (6), the credit union must be expressly advised
401	401	12 in writing of the:
402	402	13 (i) specific violation that could subject it
403	403	14 to a penalty under this item (6); and
404	404	15 (ii) specific remedial action to be taken
405	405	16 within a specific and reasonable time frame to
406	406	17 avoid imposition of the penalty;
407	407	18 (D) civil Civil penalties assessed under this item
408	408	19 (6) shall be remedial, not punitive, and reasonably
409	409	20 tailored to ensure future compliance by the credit
410	410	21 union with the provisions of this Act and any rules
411	411	22 adopted pursuant to this Act;
412	412	23 (E) a credit union's failure to take timely
413	413	24 remedial action with respect to the specific violation
414	414	25 may result in the issuance of an order assessing a
415	415	26 civil penalty up to the following maximum amount,
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426	426	1 based upon the total assets of the credit union:
427	427	2 (i) Credit unions with assets of less than $10
428	428	3 million................................................$1,000
429	429	4 (ii) Credit unions with assets of at least $10
430	430	5 million and less than $50 million......................$2,500
431	431	6 (iii) Credit unions with assets of at least
432	432	7 $50 million and less than $100 million.................$5,000
433	433	8 (iv) Credit unions with assets of at least
434	434	9 $100 million and less than $500 million...............$10,000
435	435	10 (v) Credit unions with assets of at least $500
436	436	11 million and less than $1 billion......................$25,000
437	437	12 (vi) Credit unions with assets of $1 billion
438	438	13 and greater.....................................$50,000; and
439	439	14 (F) an order assessing a civil penalty under this
440	440	15 item (6) shall be served by certified mail or email to
441	441	16 the email address of record and take effect upon
442	442	17 service of the order, unless the credit union makes a
443	443	18 written request for a hearing under 38 Ill. IL. Adm.
444	444	19 Code 190.20 of the Department's rules for credit
445	445	20 unions within 90 days after issuance of the order; in
446	446	21 that event, the order shall be stayed until a final
447	447	22 administrative order is entered. Service by certified
448	448	23 mail shall be deemed completed when the notice is
449	449	24 deposited in the United States mail. Service to the
450	450	25 email address of record shall be deemed completed when
451	451	26 sent.
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462	462	1 This item (6) shall not apply to violations separately
463	463	2 addressed in rules as authorized under item (7) of this
464	464	3 Section.
465	465	4 (7) Except for the fees established in this Act, to
466	466	5 prescribe, by rule and regulation, fees and penalties for
467	467	6 preparing, approving, and filing reports and other
468	468	7 documents; furnishing transcripts; holding hearings;
469	469	8 investigating applications for permission to organize,
470	470	9 merge, or convert; failure to maintain accurate books and
471	471	10 records to enable the Department to conduct an
472	472	11 examination; and taking supervisory actions.
473	473	12 (8) To destroy, in his discretion, any or all books
474	474	13 and records of any credit union in his possession or under
475	475	14 his control after the expiration of three years from the
476	476	15 date of cancellation of the charter of such credit unions.
477	477	16 (9) To make investigations and to conduct research and
478	478	17 studies and to publish some of the problems of persons in
479	479	18 obtaining credit at reasonable rates of interest and of
480	480	19 the methods and benefits of cooperative saving and lending
481	481	20 for such persons.
482	482	21 (10) To authorize, foster, or establish experimental,
483	483	22 developmental, demonstration, or pilot projects by public
484	484	23 or private organizations including credit unions which:
485	485	24 (a) promote more effective operation of credit
486	486	25 unions so as to provide members an opportunity to use
487	487	26 and control their own money to improve their economic
488	488
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498	498	1 and social conditions; or
499	499	2 (b) are in the best interests of credit unions,
500	500	3 their members and the people of the State of Illinois.
501	501	4 (11) To cooperate in studies, training, or other
502	502	5 administrative activities with, but not limited to, the
503	503	6 NCUA, other state credit union regulatory agencies and
504	504	7 industry trade associations in order to promote more
505	505	8 effective and efficient supervision of Illinois chartered
506	506	9 credit unions.
507	507	10 (12) Notwithstanding the provisions of this Section,
508	508	11 the Secretary shall not:
509	509	12 (1) issue an order against a credit union
510	510	13 organized under this Act for unsafe or unsound banking
511	511	14 practices solely because the entity provides or has
512	512	15 provided financial services to a cannabis-related
513	513	16 legitimate business;
514	514	17 (2) prohibit, penalize, or otherwise discourage a
515	515	18 credit union from providing financial services to a
516	516	19 cannabis-related legitimate business solely because
517	517	20 the entity provides or has provided financial services
518	518	21 to a cannabis-related legitimate business;
519	519	22 (3) recommend, incentivize, or encourage a credit
520	520	23 union not to offer financial services to an account
521	521	24 holder or to downgrade or cancel the financial
522	522	25 services offered to an account holder solely because:
523	523	26 (A) the account holder is a manufacturer or
524	524
525	525
526	526
527	527
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530	530
531	531
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534	534	1 producer, or is the owner, operator, or employee
535	535	2 of a cannabis-related legitimate business;
536	536	3 (B) the account holder later becomes an owner
537	537	4 or operator of a cannabis-related legitimate
538	538	5 business; or
539	539	6 (C) the credit union was not aware that the
540	540	7 account holder is the owner or operator of a
541	541	8 cannabis-related legitimate business; and
542	542	9 (4) take any adverse or corrective supervisory
543	543	10 action on a loan made to an owner or operator of:
544	544	11 (A) a cannabis-related legitimate business
545	545	12 solely because the owner or operator owns or
546	546	13 operates a cannabis-related legitimate business;
547	547	14 or
548	548	15 (B) real estate or equipment that is leased to
549	549	16 a cannabis-related legitimate business solely
550	550	17 because the owner or operator of the real estate
551	551	18 or equipment leased the equipment or real estate
552	552	19 to a cannabis-related legitimate business.
553	553	20 (Source: P.A. 101-27, eff. 6-25-19; 102-858, eff. 5-13-22;
554	554	21 revised 8-19-22.)
555	555	22 (205 ILCS 305/21) (from Ch. 17, par. 4422)
556	556	23 Sec. 21. Record of board and committee members. Within 30
557	557	24 days after election or appointment, the names and addresses of
558	558	25 the members of the board of directors, committees and all
559	559
560	560
561	561
562	562
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565	565
566	566
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569	569	1 officers of the credit union shall be filed with the
570	570	2 Department on forms provided by the Department. The form shall
571	571	3 also include the email address of record of the credit union.
572	572	4 (Source: P.A. 97-133, eff. 1-1-12.)
573	573	5 (205 ILCS 305/61) (from Ch. 17, par. 4462)
574	574	6 Sec. 61. Suspension.
575	575	7 (1) If the Secretary determines that any credit union is
576	576	8 bankrupt, insolvent, impaired or that it has violated this
577	577	9 Act, or is operating in an unsafe or unsound manner, he shall
578	578	10 issue an order temporarily suspending the credit union's
579	579	11 operations for not more than 60 days. The board of directors
580	580	12 shall be given notice by registered or certified mail, or by
581	581	13 email to the email address of record, of such suspension,
582	582	14 which notice shall include the reasons for such suspension and
583	583	15 a list of specific violations of the Act. Service by certified
584	584	16 mail shall be deemed completed when the notice is deposited in
585	585	17 the United States mail. Service to the email address of record
586	586	18 shall be deemed completed when sent. The Secretary shall also
587	587	19 notify the members of the credit union board of advisors of any
588	588	20 suspension. The Director may assess to the credit union a
589	589	21 penalty, not to exceed the regulatory fee as set forth in this
590	590	22 Act, to offset costs incurred in determining the condition of
591	591	23 the credit union's books and records.
592	592	24 (2) Upon receipt of such suspension notice, the credit
593	593	25 union shall cease all operations, except those authorized by
594	594
595	595
596	596
597	597
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604	604	1 the Secretary, or the Secretary may appoint a manager-trustee
605	605	2 to operate the credit union during the suspension period. The
606	606	3 board of directors shall, within 10 days of the receipt of the
607	607	4 suspension notice, file with the Secretary a reply to the
608	608	5 suspension notice by submitting a corrective plan of action or
609	609	6 a request for formal hearing on said action pursuant to the
610	610	7 Department's rules and regulations.
611	611	8 (3) Upon receipt from the suspended credit union of
612	612	9 evidence that the conditions causing the order of suspension
613	613	10 have been corrected, and after determining that the proposed
614	614	11 corrective plan of action submitted is factual, the Secretary
615	615	12 shall revoke the suspension notice, permit the credit union to
616	616	13 resume normal operations, and notify the board of credit union
617	617	14 advisors of such action.
618	618	15 (4) If the Secretary determines that the proposed
619	619	16 corrective plan of action will not correct such conditions, he
620	620	17 may take possession and control of the credit union. The
621	621	18 Secretary may permit the credit union to operate under his
622	622	19 direction and control and may appoint a manager-trustee to
623	623	20 manage its affairs until such time as the condition requiring
624	624	21 such action has been remedied, or in the case of insolvency or
625	625	22 danger of insolvency where an emergency requiring expeditious
626	626	23 action exists, the Secretary may involuntarily merge the
627	627	24 credit union without the vote of the suspended credit union's
628	628	25 board of directors or members (hereafter involuntary merger)
629	629	26 subject to rules promulgated by the Secretary. No credit union
630	630
631	631
632	632
633	633
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640	640	1 shall be required to serve as a surviving credit union in any
641	641	2 involuntary merger. Upon the request of the Secretary, a
642	642	3 credit union by a vote of a majority of its board of directors
643	643	4 may elect to serve as a surviving credit union in an
644	644	5 involuntary merger. If the Secretary determines that the
645	645	6 suspended credit union should be liquidated, he may appoint a
646	646	7 liquidating agent and require of that person such bond and
647	647	8 security as he considers proper.
648	648	9 (5) Upon receipt of a request for a formal hearing, the
649	649	10 Secretary shall conduct proceedings pursuant to rules and
650	650	11 regulations of the Department. The credit union may request
651	651	12 the appropriate court to stay execution of such action.
652	652	13 Involuntary liquidation or involuntary merger may not be
653	653	14 ordered prior to the conclusion of suspension procedures
654	654	15 outlined in this Section.
655	655	16 (6) If, within the suspension period, the credit union
656	656	17 fails to answer the suspension notice or fails to request a
657	657	18 formal hearing, or both, the Secretary may then (i)
658	658	19 involuntarily merge the credit union if the credit union is
659	659	20 insolvent or in danger of insolvency and an emergency
660	660	21 requiring expeditious action exists or (ii) revoke the credit
661	661	22 union's charter, appoint a liquidating agent and liquidate the
662	662	23 credit union.
663	663	24 (Source: P.A. 97-133, eff. 1-1-12.)
664	664	25 Section 10. The Transmitters of Money Act is amended by
665	665
666	666
667	667
668	668
669	669
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671	671
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674	674	HB3693 - 19 - LRB103 28809 BMS 55194 b
675	675	1 changing Sections 5, 25, 40, 80, 90, and 100 as follows:
676	676	2 (205 ILCS 657/5)
677	677	3 Sec. 5. Definitions. As used in this Act, unless the
678	678	4 context otherwise requires, the words and phrases defined in
679	679	5 this Section have the meanings set forth in this Section.
680	680	6 "Authorized seller" means a person not an employee of a
681	681	7 licensee who engages in the business regulated by this Act on
682	682	8 behalf of a licensee under a contract between that person and
683	683	9 the licensee.
684	684	10 "Bill payment service" means the business of transmitting
685	685	11 money on behalf of an Illinois resident for the purpose of
686	686	12 paying the resident's bills.
687	687	13 "Controlling person" means a person owning or holding the
688	688	14 power to vote 25% or more of the outstanding voting securities
689	689	15 of a licensee or the power to vote the securities of another
690	690	16 controlling person of the licensee. For purposes of
691	691	17 determining the percentage of a licensee controlled by a
692	692	18 controlling person, the person's interest shall be combined
693	693	19 with the interest of any other person controlled, directly or
694	694	20 indirectly, by that person or by a spouse, parent, or child of
695	695	21 that person.
696	696	22 "Department" means the Department of Financial and
697	697	23 Professional Regulation Institutions.
698	698	24 "Director" means the Director of Financial Institutions.
699	699	25 "Division of Financial Institutions" means the Division of
700	700
701	701
702	702
703	703
704	704
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709	709	HB3693 - 20 - LRB103 28809 BMS 55194 b
710	710	1 Financial Institutions of the Department of Financial and
711	711	2 Professional Regulation.
712	712	3 "Email address of record" means the designated email
713	713	4 address recorded by the Division of Financial Institutions in
714	714	5 the applicant's applicant file or the licensee's license file,
715	715	6 as maintained by the Division of Financial Institutions'
716	716	7 licensure unit.
717	717	8 "Licensee" means a person licensed under this Act.
718	718	9 "Location" means a place of business at which activity
719	719	10 regulated by this Act occurs.
720	720	11 "Material litigation" means any litigation that, according
721	721	12 to generally accepted accounting principles, is deemed
722	722	13 significant to a licensee's financial health and would be
723	723	14 required to be referenced in a licensee's annual audited
724	724	15 financial statements, reports to shareholders, or similar
725	725	16 documents.
726	726	17 "Money" means a medium of exchange that is authorized or
727	727	18 adopted by a domestic or foreign government as a part of its
728	728	19 currency and that is customarily used and accepted as a medium
729	729	20 of exchange in the country of issuance.
730	730	21 "Money transmitter" means a person who is located in or
731	731	22 doing business in this State and who directly or through
732	732	23 authorized sellers does any of the following in this State:
733	733	24 (1) Sells or issues payment instruments.
734	734	25 (2) Engages in the business of receiving money for
735	735	26 transmission or transmitting money.
736	736
737	737
738	738
739	739
740	740
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742	742
743	743
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746	746	1 (3) Engages in the business of exchanging, for
747	747	2 compensation, money of the United States Government or a
748	748	3 foreign government to or from money of another government.
749	749	4 "Outstanding payment instrument" means, unless otherwise
750	750	5 treated by or accounted for under generally accepted
751	751	6 accounting principles on the books of the licensee, a payment
752	752	7 instrument issued by the licensee that has been sold in the
753	753	8 United States directly by the licensee or has been sold in the
754	754	9 United States by an authorized seller of the licensee and
755	755	10 reported to the licensee as having been sold, but has not been
756	756	11 paid by or for the licensee.
757	757	12 "Payment instrument" means a check, draft, money order,
758	758	13 traveler's check, stored value card, or other instrument or
759	759	14 memorandum, written order or written receipt for the
760	760	15 transmission or payment of money sold or issued to one or more
761	761	16 persons whether or not that instrument or order is negotiable.
762	762	17 Payment instrument does not include an instrument that is
763	763	18 redeemable by the issuer in merchandise or service, a credit
764	764	19 card voucher, or a letter of credit. A written order for the
765	765	20 transmission or payment of money that results in the issuance
766	766	21 of a check, draft, money order, traveler's check, or other
767	767	22 instrument or memorandum is not a payment instrument.
768	768	23 "Person" means an individual, partnership, association,
769	769	24 joint stock association, corporation, or any other form of
770	770	25 business organization.
771	771	26 "Stored value card" means any magnetic stripe card or
772	772
773	773
774	774
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782	782	1 other electronic payment instrument given in exchange for
783	783	2 money and other similar consideration, including but not
784	784	3 limited to checks, debit payments, money orders, drafts,
785	785	4 credit payments, and traveler's checks, where the card or
786	786	5 other electronic payment instrument represents a dollar value
787	787	6 that the consumer can either use or give to another
788	788	7 individual.
789	789	8 "Transmitting money" means the transmission of money by
790	790	9 any means, including transmissions to or from locations within
791	791	10 the United States or to and from locations outside of the
792	792	11 United States by payment instrument, facsimile or electronic
793	793	12 transfer, or otherwise, and includes bill payment services.
794	794	13 (Source: P.A. 92-400, eff. 1-1-02; 93-535, eff. 1-1-04.)
795	795	14 (205 ILCS 657/25)
796	796	15 Sec. 25. Application for license.
797	797	16 (a) An application for a license must be in writing, under
798	798	17 oath, and in the form the Director prescribes. At the time of
799	799	18 application, each applicant shall provide an email address of
800	800	19 record. The application must contain or be accompanied by all
801	801	20 of the following:
802	802	21 (1) The name of the applicant and the address of the
803	803	22 principal place of business of the applicant and the
804	804	23 address of all locations and proposed locations of the
805	805	24 applicant in this State.
806	806	25 (2) The form of business organization of the
807	807
808	808
809	809
810	810
811	811
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817	817	1 applicant, including:
818	818	2 (A) a copy of its articles of incorporation and
819	819	3 amendments thereto and a copy of its bylaws, certified
820	820	4 by its secretary, if the applicant is a corporation;
821	821	5 (B) a copy of its partnership agreement, certified
822	822	6 by a partner, if the applicant is a partnership; or
823	823	7 (C) a copy of the documents that control its
824	824	8 organizational structure, certified by a managing
825	825	9 official, if the applicant is organized in some other
826	826	10 form.
827	827	11 (3) The name, business and home address, and a
828	828	12 chronological summary of the business experience, material
829	829	13 litigation history, and felony convictions over the
830	830	14 preceding 10 years of:
831	831	15 (A) the proprietor, if the applicant is an
832	832	16 individual;
833	833	17 (B) every partner, if the applicant is a
834	834	18 partnership;
835	835	19 (C) each officer, director, and controlling
836	836	20 person, if the applicant is a corporation; and
837	837	21 (D) each person in a position to exercise control
838	838	22 over, or direction of, the business of the applicant,
839	839	23 regardless of the form of organization of the
840	840	24 applicant.
841	841	25 (4) Financial statements, not more than one year old,
842	842	26 prepared in accordance with generally accepted accounting
843	843
844	844
845	845
846	846
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849	849
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853	853	1 principles and audited by a licensed public accountant or
854	854	2 certified public accountant showing the financial
855	855	3 condition of the applicant and an unaudited balance sheet
856	856	4 and statement of operation as of the most recent quarterly
857	857	5 report before the date of the application, certified by
858	858	6 the applicant or an officer or partner thereof. If the
859	859	7 applicant is a wholly owned subsidiary or is eligible to
860	860	8 file consolidated federal income tax returns with its
861	861	9 parent, however, unaudited financial statements for the
862	862	10 preceding year along with the unaudited financial
863	863	11 statements for the most recent quarter may be submitted if
864	864	12 accompanied by the audited financial statements of the
865	865	13 parent company for the preceding year along with the
866	866	14 unaudited financial statement for the most recent quarter.
867	867	15 (5) Filings of the applicant with the Securities and
868	868	16 Exchange Commission or similar foreign governmental entity
869	869	17 (English translation), if any.
870	870	18 (6) A list of all other states in which the applicant
871	871	19 is licensed as a money transmitter and whether the license
872	872	20 of the applicant for those purposes has ever been
873	873	21 withdrawn, refused, canceled, or suspended in any other
874	874	22 state, with full details.
875	875	23 (7) A list of all money transmitter locations and
876	876	24 proposed locations in this State.
877	877	25 (8) A sample of the contract for authorized sellers.
878	878	26 (9) A sample form of the proposed payment instruments
879	879
880	880
881	881
882	882
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889	889	1 to be used in this State.
890	890	2 (10) The name and business address of the clearing
891	891	3 banks through which the applicant intends to conduct any
892	892	4 business regulated under this Act.
893	893	5 (11) A surety bond as required by Section 30 of this
894	894	6 Act.
895	895	7 (12) The applicable fees as required by Section 45 of
896	896	8 this Act.
897	897	9 (13) A written consent to service of process as
898	898	10 provided by Section 100 of this Act.
899	899	11 (14) A written statement that the applicant is in full
900	900	12 compliance with and agrees to continue to fully comply
901	901	13 with all state and federal statutes and regulations
902	902	14 relating to money laundering.
903	903	15 (15) All additional information the Director considers
904	904	16 necessary in order to determine whether or not to issue
905	905	17 the applicant a license under this Act.
906	906	18 (a-5) The proprietor, partner, officer, director, and
907	907	19 controlling person of the applicant shall submit their
908	908	20 fingerprints to the Illinois State Police in an electronic
909	909	21 format that complies with the form and manner for requesting
910	910	22 and furnishing criminal history record information as
911	911	23 prescribed by the Illinois State Police. These fingerprints
912	912	24 shall be retained and checked against the Illinois State
913	913	25 Police and Federal Bureau of Investigation criminal history
914	914	26 record databases now and hereafter filed, including latent
915	915
916	916
917	917
918	918
919	919
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921	921
922	922
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925	925	1 fingerprint searches. The Illinois State Police shall charge
926	926	2 applicants a fee for conducting the criminal history records
927	927	3 check, which shall be deposited into the State Police Services
928	928	4 Fund and shall not exceed the actual cost of the records check.
929	929	5 The Illinois State Police shall furnish records of Illinois
930	930	6 convictions to the Department pursuant to positive
931	931	7 identification and shall forward the national criminal history
932	932	8 record information to the Department. The Department may
933	933	9 require applicants to pay a separate fingerprinting fee,
934	934	10 either to the Department or to a Department-designated or
935	935	11 Department-approved vendor. The Department, in its discretion,
936	936	12 may allow a proprietor, partner, officer, director, or
937	937	13 controlling person of an applicant who does not have
938	938	14 reasonable access to a designated vendor to provide his or her
939	939	15 fingerprints in an alternative manner. The Department, in its
940	940	16 discretion, may also use other procedures in performing or
941	941	17 obtaining criminal background checks of applicants. Instead of
942	942	18 submitting his or her fingerprints, an individual may submit
943	943	19 proof that is satisfactory to the Department that an
944	944	20 equivalent security clearance has been conducted. The
945	945	21 Department may adopt any rules necessary to implement this
946	946	22 subsection.
947	947	23 (b) The Director may, for good cause shown, waive, in
948	948	24 part, any of the requirements of this Section.
949	949	25 (Source: P.A. 102-538, eff. 8-20-21.)
950	950
951	951
952	952
953	953
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956	956
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960	960	1 (205 ILCS 657/40)
961	961	2 Sec. 40. Renewals of license. As a condition for renewal
962	962	3 of a license, a licensee must submit to the Director, and the
963	963	4 Director must receive, on or before December 1 of each year, an
964	964	5 application for renewal made in writing and under oath on a
965	965	6 form prescribed by the Director. At the time of renewal, each
966	966	7 licensee shall provide an email address of record. A licensee
967	967	8 whose application for renewal is not received by the
968	968	9 Department on or before December 31 shall not have its license
969	969	10 renewed and shall be required to submit to the Director an
970	970	11 application for a new license in accordance with Section 25.
971	971	12 Upon a showing of good cause, the Director may extend the
972	972	13 deadline for the filing of an application for renewal. The
973	973	14 application for renewal of a license shall contain or be
974	974	15 accompanied by all of the following:
975	975	16 (1) The name of the licensee and the address of the
976	976	17 principal place of business of the licensee.
977	977	18 (2) A list of all locations where the licensee is
978	978	19 conducting business under its license and a list of all
979	979	20 authorized sellers through whom the licensee is conducting
980	980	21 business under its license, including the name and
981	981	22 business address of each authorized seller.
982	982	23 (3) Audited financial statements covering the past
983	983	24 year of operations, prepared in accordance with generally
984	984	25 accepted accounting principles, showing the financial
985	985	26 condition of the licensee. The licensee shall submit the
986	986
987	987
988	988
989	989
990	990
991	991	HB3693 - 27 - LRB103 28809 BMS 55194 b
992	992
993	993
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995	995	HB3693 - 28 - LRB103 28809 BMS 55194 b
996	996	1 audited financial statement after the application for
997	997	2 renewal has been approved. The audited financial statement
998	998	3 must be received by the Department no later than 120 days
999	999	4 after the end of the licensee's fiscal year. If the
1000	1000	5 licensee is a wholly owned subsidiary or is eligible to
1001	1001	6 file consolidated federal income tax returns with its
1002	1002	7 parent, the licensee may submit unaudited financial
1003	1003	8 statements if accompanied by the audited financial
1004	1004	9 statements of the parent company for its most recently
1005	1005	10 ended year.
1006	1006	11 (4) A statement of the dollar amount and number of
1007	1007	12 money transmissions and payment instruments sold, issued,
1008	1008	13 exchanged, or transmitted in this State by the licensee
1009	1009	14 and its authorized sellers for the past year.
1010	1010	15 (5) A statement of the dollar amount of uncompleted
1011	1011	16 money transmissions and payment instruments outstanding or
1012	1012	17 in transit, in this State, as of the most recent quarter
1013	1013	18 available.
1014	1014	19 (6) The annual license renewal fees and any penalty
1015	1015	20 fees as provided by Section 45 of this Act.
1016	1016	21 (7) Evidence sufficient to prove to the satisfaction
1017	1017	22 of the Director that the licensee has complied with all
1018	1018	23 requirements under Section 20 relating to its net worth,
1019	1019	24 under Section 30 relating to its surety bond or other
1020	1020	25 security, and under Section 50 relating to permissible
1021	1021	26 investments.
1022	1022
1023	1023
1024	1024
1025	1025
1026	1026
1027	1027	HB3693 - 28 - LRB103 28809 BMS 55194 b
1028	1028
1029	1029
1030	1030	HB3693- 29 -LRB103 28809 BMS 55194 b HB3693 - 29 - LRB103 28809 BMS 55194 b
1031	1031	HB3693 - 29 - LRB103 28809 BMS 55194 b
1032	1032	1 (8) A statement of a change in information provided by
1033	1033	2 the licensee in its application for a license or its
1034	1034	3 previous applications for renewal including, but not
1035	1035	4 limited to, new directors, officers, authorized sellers,
1036	1036	5 or clearing banks and material changes in the operation of
1037	1037	6 the licensee's business.
1038	1038	7 (Source: P.A. 92-400, eff. 1-1-02.)
1039	1039	8 (205 ILCS 657/80)
1040	1040	9 Sec. 80. Revocation or suspension of licenses.
1041	1041	10 (a) The Director may suspend or revoke a license if the
1042	1042	11 Director finds any of the following:
1043	1043	12 (1) The licensee has knowingly made a material
1044	1044	13 misstatement or suppressed or withheld information on an
1045	1045	14 application for a license or a document required to be
1046	1046	15 filed with the Director.
1047	1047	16 (2) A fact or condition exists that, if it had existed
1048	1048	17 or had been known at the time the licensee applied for its
1049	1049	18 license, would have been grounds for denying the
1050	1050	19 application.
1051	1051	20 (3) The licensee is insolvent.
1052	1052	21 (4) The licensee has knowingly violated a material
1053	1053	22 provision of this Act or rules adopted under this Act or an
1054	1054	23 order of the Director.
1055	1055	24 (5) The licensee refuses to permit the Director to
1056	1056	25 make an examination at reasonable times as authorized by
1057	1057
1058	1058
1059	1059
1060	1060
1061	1061
1062	1062	HB3693 - 29 - LRB103 28809 BMS 55194 b
1063	1063
1064	1064
1065	1065	HB3693- 30 -LRB103 28809 BMS 55194 b HB3693 - 30 - LRB103 28809 BMS 55194 b
1066	1066	HB3693 - 30 - LRB103 28809 BMS 55194 b
1067	1067	1 this Act.
1068	1068	2 (6) The licensee knowingly fails to make a report
1069	1069	3 required by this Act.
1070	1070	4 (7) The licensee fails to pay a judgment entered in
1071	1071	5 favor of a claimant, plaintiff, or creditor in an action
1072	1072	6 arising out of the licensee's business regulated under
1073	1073	7 this Act within 30 days after the judgment becomes final
1074	1074	8 or within 30 days after expiration or termination of a
1075	1075	9 stay of execution.
1076	1076	10 (8) The licensee has been convicted under the laws of
1077	1077	11 this State, another state, or the United States of a
1078	1078	12 felony or of a crime involving a breach of trust or
1079	1079	13 dishonesty.
1080	1080	14 (9) The licensee has failed to suspend or terminate
1081	1081	15 its authorized seller's authority to act on its behalf
1082	1082	16 when the licensee knew its authorized seller was violating
1083	1083	17 or had violated a material provision of this Act or rules
1084	1084	18 adopted under this Act or an order of the Director.
1085	1085	19 (b) In every case in which a license is suspended or
1086	1086	20 revoked or an application for a license or renewal of a license
1087	1087	21 is denied, the Director shall serve notice of his action,
1088	1088	22 including a statement of the reasons for his action, either
1089	1089	23 personally, to the email address of record, or by certified
1090	1090	24 mail, return receipt requested. Service by certified mail
1091	1091	25 shall be deemed completed if the notice is deposited in the
1092	1092	26 United States mail post office, postage paid, addressed to the
1093	1093
1094	1094
1095	1095
1096	1096
1097	1097
1098	1098	HB3693 - 30 - LRB103 28809 BMS 55194 b
1099	1099
1100	1100
1101	1101	HB3693- 31 -LRB103 28809 BMS 55194 b HB3693 - 31 - LRB103 28809 BMS 55194 b
1102	1102	HB3693 - 31 - LRB103 28809 BMS 55194 b
1103	1103	1 last known address specified in the application for a license.
1104	1104	2 Service to the email address of record shall be deemed
1105	1105	3 completed when sent.
1106	1106	4 (c) In the case of denial of an application for a license
1107	1107	5 or renewal of a license, the applicant or licensee may request
1108	1108	6 in writing, within 30 days after the date of service, a
1109	1109	7 hearing. In the case of a denial of an application for renewal
1110	1110	8 of a license, the expiring license shall be deemed to continue
1111	1111	9 in force until 30 days after the service of the notice of
1112	1112	10 denial or, if a hearing is requested during that period, until
1113	1113	11 a final order is entered pursuant to a hearing.
1114	1114	12 (d) The order of suspension or revocation of a license
1115	1115	13 shall take effect upon service of the order. The holder of any
1116	1116	14 suspended or revoked license may request in writing, within 30
1117	1117	15 days after the date of service, a hearing. In the event a
1118	1118	16 hearing is requested, the order shall remain temporary until a
1119	1119	17 final order is entered pursuant to the hearing.
1120	1120	18 (e) The hearing shall be held at the time and place
1121	1121	19 designated by the Director in either the City of Springfield
1122	1122	20 or the City of Chicago. The Director and any administrative
1123	1123	21 law judge designated by him shall have the power to administer
1124	1124	22 oaths and affirmations, subpoena witnesses and compel their
1125	1125	23 attendance, take evidence, authorize the taking of
1126	1126	24 depositions, and require the production of books, papers,
1127	1127	25 correspondence, and other records or information that he
1128	1128	26 considers relevant or material to the inquiry.
1129	1129
1130	1130
1131	1131
1132	1132
1133	1133
1134	1134	HB3693 - 31 - LRB103 28809 BMS 55194 b
1135	1135
1136	1136
1137	1137	HB3693- 32 -LRB103 28809 BMS 55194 b HB3693 - 32 - LRB103 28809 BMS 55194 b
1138	1138	HB3693 - 32 - LRB103 28809 BMS 55194 b
1139	1139	1 (f) The Director may issue an order of suspension or
1140	1140	2 revocation of a license that takes effect upon service of the
1141	1141	3 order and remains in effect regardless of a request for a
1142	1142	4 hearing when the Director finds that the public welfare will
1143	1143	5 be endangered if the licensee is permitted to continue to
1144	1144	6 operate the business regulated by this Act.
1145	1145	7 (g) The decision of the Director to deny any application
1146	1146	8 for a license or renewal of a license or to suspend or revoke a
1147	1147	9 license is subject to judicial review under the Administrative
1148	1148	10 Review Law.
1149	1149	11 (h) The costs for administrative hearing shall be set by
1150	1150	12 rule.
1151	1151	13 (i) Appeals from all final orders and judgments entered by
1152	1152	14 the circuit court under this Section in review of a decision of
1153	1153	15 the Director may be taken as in other civil actions by any
1154	1154	16 party to the proceeding.
1155	1155	17 (Source: P.A. 88-643, eff. 1-1-95.)
1156	1156	18 (205 ILCS 657/90)
1157	1157	19 Sec. 90. Enforcement.
1158	1158	20 (a) If it appears to the Director that a person has
1159	1159	21 committed or is about to commit a violation of this Act, a rule
1160	1160	22 promulgated under this Act, or an order of the Director, the
1161	1161	23 Director may apply to the circuit court for an order enjoining
1162	1162	24 the person from violating or continuing to violate this Act,
1163	1163	25 the rule, or order and for injunctive or other relief that the
1164	1164
1165	1165
1166	1166
1167	1167
1168	1168
1169	1169	HB3693 - 32 - LRB103 28809 BMS 55194 b
1170	1170
1171	1171
1172	1172	HB3693- 33 -LRB103 28809 BMS 55194 b HB3693 - 33 - LRB103 28809 BMS 55194 b
1173	1173	HB3693 - 33 - LRB103 28809 BMS 55194 b
1174	1174	1 nature of the case may require and may, in addition, request
1175	1175	2 the court to assess a civil penalty up to $1,000 along with
1176	1176	3 costs and attorney fees.
1177	1177	4 (b) If the Director finds, after an investigation that he
1178	1178	5 considers appropriate, that a licensee or other person is
1179	1179	6 engaged in practices contrary to this Act or to the rules
1180	1180	7 promulgated under this Act, the Director may issue an order
1181	1181	8 directing the licensee or person to cease and desist the
1182	1182	9 violation. The Director may, in addition to or without the
1183	1183	10 issuance of a cease and desist order, assess an administrative
1184	1184	11 penalty up to $1,000 against a licensee for each violation of
1185	1185	12 this Act or the rules promulgated under this Act. The issuance
1186	1186	13 of an order under this Section shall not be a prerequisite to
1187	1187	14 the taking of any action by the Director under this or any
1188	1188	15 other Section of this Act. The Director shall serve notice of
1189	1189	16 his action, including a statement of the reasons for his
1190	1190	17 actions, either personally, to the email address of record, or
1191	1191	18 by certified mail, return receipt requested. Service by
1192	1192	19 certified mail shall be deemed completed if the notice is
1193	1193	20 deposited in the United States mail post office, postage paid,
1194	1194	21 addressed to the last known address for a license. Service to
1195	1195	22 the email address of record shall be deemed completed when
1196	1196	23 sent.
1197	1197	24 (c) In the case of the issuance of a cease and desist order
1198	1198	25 or assessment order, a hearing may be requested in writing
1199	1199	26 within 30 days after the date of service. The hearing shall be
1200	1200
1201	1201
1202	1202
1203	1203
1204	1204
1205	1205	HB3693 - 33 - LRB103 28809 BMS 55194 b
1206	1206
1207	1207
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1209	1209	HB3693 - 34 - LRB103 28809 BMS 55194 b
1210	1210	1 held at the time and place designated by the Director in either
1211	1211	2 the City of Springfield or the City of Chicago. The Director
1212	1212	3 and any administrative law judge designated by him shall have
1213	1213	4 the power to administer oaths and affirmations, subpoena
1214	1214	5 witnesses and compel their attendance, take evidence,
1215	1215	6 authorize the taking of depositions, and require the
1216	1216	7 production of books, papers, correspondence, and other records
1217	1217	8 or information that he considers relevant or material to the
1218	1218	9 inquiry.
1219	1219	10 (d) After the Director's final determination under a
1220	1220	11 hearing under this Section, a party to the proceedings whose
1221	1221	12 interests are affected by the Director's final determination
1222	1222	13 shall be entitled to judicial review of that final
1223	1223	14 determination under the Administrative Review Law.
1224	1224	15 (e) The costs for administrative hearings shall be set by
1225	1225	16 rule.
1226	1226	17 (f) Except as otherwise provided in this Act, a violation
1227	1227	18 of this Act shall subject the party violating it to a fine of
1228	1228	19 $1,000 for each offense.
1229	1229	20 (g) Each transaction in violation of this Act or the rules
1230	1230	21 promulgated under this Act and each day that a violation
1231	1231	22 continues shall be a separate offense.
1232	1232	23 (h) A person who engages in conduct requiring a license
1233	1233	24 under this Act and fails to obtain a license from the Director
1234	1234	25 or knowingly makes a false statement, misrepresentation, or
1235	1235	26 false certification in an application, financial statement,
1236	1236
1237	1237
1238	1238
1239	1239
1240	1240
1241	1241	HB3693 - 34 - LRB103 28809 BMS 55194 b
1242	1242
1243	1243
1244	1244	HB3693- 35 -LRB103 28809 BMS 55194 b HB3693 - 35 - LRB103 28809 BMS 55194 b
1245	1245	HB3693 - 35 - LRB103 28809 BMS 55194 b
1246	1246	1 account record, report, or other document filed or required to
1247	1247	2 be maintained or filed under this Act or who knowingly makes a
1248	1248	3 false entry or omits a material entry in a document is guilty
1249	1249	4 of a Class 3 felony.
1250	1250	5 (i) The Director is authorized to compromise, settle, and
1251	1251	6 collect civil penalties and administrative penalties, as set
1252	1252	7 by rule, with any person for violations of this Act or of any
1253	1253	8 rule or order issued or promulgated under this Act. Any person
1254	1254	9 who, without the required license, engages in conduct
1255	1255	10 requiring a license under this Act shall be liable to the
1256	1256	11 Department in an amount equal to the greater of (i) $5,000 or
1257	1257	12 (ii) an amount of money accepted for transmission plus an
1258	1258	13 amount equal to 3 times the amount accepted for transmission.
1259	1259	14 The Department shall cause any funds so recovered to be
1260	1260	15 deposited in the TOMA Consumer Protection Fund.
1261	1261	16 (j) The Director may enter into consent orders at any time
1262	1262	17 with a person to resolve a matter arising under this Act. A
1263	1263	18 consent order must be signed by the person to whom it is issued
1264	1264	19 and must indicate agreement to the terms contained in it. A
1265	1265	20 consent order need not constitute an admission by a person
1266	1266	21 that this Act or a rule or order issued or promulgated under
1267	1267	22 this Act has been violated, nor need it constitute a finding by
1268	1268	23 the Director that the person has violated this Act or a rule or
1269	1269	24 order promulgated under this Act.
1270	1270	25 (k) Notwithstanding the issuance of a consent order, the
1271	1271	26 Director may seek civil or criminal penalties or compromise
1272	1272
1273	1273
1274	1274
1275	1275
1276	1276
1277	1277	HB3693 - 35 - LRB103 28809 BMS 55194 b
1278	1278
1279	1279
1280	1280	HB3693- 36 -LRB103 28809 BMS 55194 b HB3693 - 36 - LRB103 28809 BMS 55194 b
1281	1281	HB3693 - 36 - LRB103 28809 BMS 55194 b
1282	1282	1 civil penalties concerning matter encompassed by the consent
1283	1283	2 order unless the consent order by its terms expressly
1284	1284	3 precludes the Director from doing so.
1285	1285	4 (l) Appeals from all final orders and judgments entered by
1286	1286	5 the circuit court under this Section in review of a decision of
1287	1287	6 the Director may be taken as in other civil actions by any
1288	1288	7 party to the proceeding.
1289	1289	8 (Source: P.A. 100-201, eff. 8-18-17.)
1290	1290	9 (205 ILCS 657/100)
1291	1291	10 Sec. 100. Consent to service of process.
1292	1292	11 (a) A licensee, before doing business in this State, shall
1293	1293	12 appoint the Director its true and lawful attorney-in-fact upon
1294	1294	13 whom all lawful process in any action or legal proceeding
1295	1295	14 against it may be served and shall agree that any lawful
1296	1296	15 process against it that may be served upon its attorney shall
1297	1297	16 be of the same force and validity as if served on itself. The
1298	1298	17 consent to the service of process shall be in the form
1299	1299	18 prescribed by the Director, shall be irrevocable, and shall
1300	1300	19 provide that actions or proceedings arising out of or founded
1301	1301	20 upon the conduct of the licensee's business may be commenced
1302	1302	21 against the licensee in any court of competent jurisdiction
1303	1303	22 and proper venue within this State by the service of process or
1304	1304	23 other notice of the institution of proceedings on the
1305	1305	24 Director.
1306	1306	25 (b) Service of process or other notice, accompanied by the
1307	1307
1308	1308
1309	1309
1310	1310
1311	1311
1312	1312	HB3693 - 36 - LRB103 28809 BMS 55194 b
1313	1313
1314	1314
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1316	1316	HB3693 - 37 - LRB103 28809 BMS 55194 b
1317	1317	1 fee provided in Section 45, shall be by duplicate copies, one
1318	1318	2 of which shall be filed with the Director and the other
1319	1319	3 forwarded by the Director within 5 business days by certified
1320	1320	4 mail with a return receipt to the licensee against whom the
1321	1321	5 process or other notice is directed at its latest address on
1322	1322	6 file with the Department or to the email address of record.
1323	1323	7 Service by certified mail shall be deemed completed when the
1324	1324	8 notice is deposited in the United States mail. Service to the
1325	1325	9 email address of record shall be deemed completed when sent.
1326	1326	10 (c) No judgment shall be entered against a licensee
1327	1327	11 pursuant to service upon the Director until at least 30 days
1328	1328	12 have elapsed after process or notice has been served on the
1329	1329	13 Director.
1330	1330	14 (Source: P.A. 88-643, eff. 1-1-95.)
1331	1331	15 Section 15. The Sales Finance Agency Act is amended by
1332	1332	16 changing Sections 2, 6, 10, and 16.5 as follows:
1333	1333	17 (205 ILCS 660/2) (from Ch. 17, par. 5202)
1334	1334	18 Sec. 2. Definitions. In this Act, unless the context
1335	1335	19 otherwise requires:
1336	1336	20 "Sales finance agency" means a person, irrespective of his
1337	1337	21 or her state of domicile or place of business, engaged in this
1338	1338	22 State, in whole or in part, in the business of purchasing, or
1339	1339	23 making loans secured by, retail installment contracts, retail
1340	1340	24 charge agreements or the outstanding balances under such
1341	1341
1342	1342
1343	1343
1344	1344
1345	1345
1346	1346	HB3693 - 37 - LRB103 28809 BMS 55194 b
1347	1347
1348	1348
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1350	1350	HB3693 - 38 - LRB103 28809 BMS 55194 b
1351	1351	1 contracts or agreements entered into in this State.
1352	1352	2 "Holder" of a retail installment contract or a retail
1353	1353	3 charge agreement means the retail seller of the goods or
1354	1354	4 services under the contract or charge agreement, or if the
1355	1355	5 outstanding balances thereunder are purchased by or
1356	1356	6 transferred as security to a sales finance agency or other
1357	1357	7 assignee, the sales finance agency or other assignee.
1358	1358	8 "Person" means an individual, corporation, partnership,
1359	1359	9 limited liability company, joint venture, or any other form of
1360	1360	10 business association.
1361	1361	11 "Department" means the Department of Financial and
1362	1362	12 Professional Regulation Institutions.
1363	1363	13 "Director" means the Director of Financial Institutions.
1364	1364	14 "Division of Financial Institutions" means the Division of
1365	1365	15 Financial Institutions of the Department of Financial and
1366	1366	16 Professional Regulation.
1367	1367	17 "Email address of record" means the designated email
1368	1368	18 address recorded by the Division of Financial Institutions in
1369	1369	19 the applicant's applicant file or the licensee's license file,
1370	1370	20 as maintained by the Division of Financial Institutions'
1371	1371	21 licensure unit.
1372	1372	22 "Motor Vehicle Retail Installment Sales Act" and "Retail
1373	1373	23 Installment Sales Act" refer to the Acts having those titles
1374	1374	24 enacted by the 75th General Assembly.
1375	1375	25 "Retail installment contract" and "retail charge
1376	1376	26 agreement" have the meanings ascribed to them in the Motor
1377	1377
1378	1378
1379	1379
1380	1380
1381	1381
1382	1382	HB3693 - 38 - LRB103 28809 BMS 55194 b
1383	1383
1384	1384
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1386	1386	HB3693 - 39 - LRB103 28809 BMS 55194 b
1387	1387	1 Vehicle Retail Installment Sales Act and the Retail
1388	1388	2 Installment Sales Act.
1389	1389	3 "Special purpose vehicle" means an entity that, in
1390	1390	4 connection with a securitization, private placement, or
1391	1391	5 similar type of investment transaction, is administered by a
1392	1392	6 State or national bank under a management agreement for the
1393	1393	7 purpose of purchasing, making loans against, or in pools of,
1394	1394	8 receivables, general intangibles, and other financial assets
1395	1395	9 including retail installment contracts, retail charge
1396	1396	10 agreements, or the outstanding balances or any portion of the
1397	1397	11 outstanding balances under those contracts or agreements.
1398	1398	12 "Net Worth" means total assets minus total liabilities.
1399	1399	13 (Source: P.A. 89-400, eff. 8-20-95; 90-437, eff. 1-1-98.)
1400	1400	14 (205 ILCS 660/6) (from Ch. 17, par. 5206)
1401	1401	15 Sec. 6. A license fee of $300 for the applicant's
1402	1402	16 principal place of business and $100 for each additional place
1403	1403	17 of business for which a license is sought must be submitted
1404	1404	18 with an application for license made before July 1 of any year.
1405	1405	19 If application for a license is made on July 1 or thereafter, a
1406	1406	20 license fee of $150 for the principal place of business and of
1407	1407	21 $50 for each additional place of business must accompany the
1408	1408	22 application. Each license remains in force until surrendered,
1409	1409	23 suspended, or revoked. If the application for license is
1410	1410	24 denied, the original license fee shall be retained by the
1411	1411	25 State in reimbursement of its costs of investigating that
1412	1412
1413	1413
1414	1414
1415	1415
1416	1416
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1418	1418
1419	1419
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1421	1421	HB3693 - 40 - LRB103 28809 BMS 55194 b
1422	1422	1 application.
1423	1423	2 Before the license is granted, the applicant shall prove
1424	1424	3 in form satisfactory to the Director, that the applicant has a
1425	1425	4 positive net worth of a minimum of $30,000. At the time of
1426	1426	5 application, each applicant shall provide an email address of
1427	1427	6 record.
1428	1428	7 A licensee must pay to the Department, and the Department
1429	1429	8 must receive, by December 1 of each year, the renewal license
1430	1430	9 application on forms prescribed by the Director and $300 for
1431	1431	10 the license for his principal place of business and $100 for
1432	1432	11 each additional license held as a renewal license fee for the
1433	1433	12 succeeding calendar year.
1434	1434	13 (Source: P.A. 92-398, eff. 1-1-02.)
1435	1435	14 (205 ILCS 660/10) (from Ch. 17, par. 5223)
1436	1436	15 Sec. 10. Denial, revocation, fine, or suspension of
1437	1437	16 license.
1438	1438	17 (a) The Director may revoke or suspend a license or fine a
1439	1439	18 licensee if the licensee violates any provisions of this Act.
1440	1440	19 (b) In every case in which a license is revoked or
1441	1441	20 suspended, a licensee is fined, or an application for a
1442	1442	21 license or renewal of a license is denied, the Director shall
1443	1443	22 serve notice of his or her action, including a statement of the
1444	1444	23 reasons for the action either personally, to the email address
1445	1445	24 of record, or by certified mail, return receipt requested.
1446	1446	25 Service by certified mail shall be deemed completed when the
1447	1447
1448	1448
1449	1449
1450	1450
1451	1451
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1453	1453
1454	1454
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1456	1456	HB3693 - 41 - LRB103 28809 BMS 55194 b
1457	1457	1 notice is deposited in the United States U.S. mail. Service to
1458	1458	2 the email address of record shall be deemed completed when
1459	1459	3 sent.
1460	1460	4 (c) An order revoking or suspending a license or an order
1461	1461	5 denying renewal of a license shall take effect upon service of
1462	1462	6 the order, unless the licensee requests, in writing, within 10
1463	1463	7 days after the date of service, a hearing. In the event a
1464	1464	8 hearing is requested, the order shall be stayed until a final
1465	1465	9 administrative order is entered.
1466	1466	10 (d) If the licensee requests a hearing, the Director shall
1467	1467	11 schedule a hearing within 30 days after the request for a
1468	1468	12 hearing unless otherwise agreed to by the parties.
1469	1469	13 (e) The hearing shall be held at the time and place
1470	1470	14 designated by the Director. The Director and any
1471	1471	15 administrative law judge designated by him or her shall have
1472	1472	16 the power to administer oaths and affirmations, subpoena
1473	1473	17 witnesses and compel their attendance, take evidence, and
1474	1474	18 require the production of books, papers, correspondence, and
1475	1475	19 other records or information that he or she considers relevant
1476	1476	20 or material to the inquiry.
1477	1477	21 (f) The costs for the administrative hearing shall be set
1478	1478	22 by rule.
1479	1479	23 (g) The Director shall have the authority to prescribe
1480	1480	24 rules for the administration of this Section.
1481	1481	25 (Source: P.A. 92-398, eff. 1-1-02.)
1482	1482
1483	1483
1484	1484
1485	1485
1486	1486
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1488	1488
1489	1489
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1491	1491	HB3693 - 42 - LRB103 28809 BMS 55194 b
1492	1492	1 (205 ILCS 660/16.5)
1493	1493	2 Sec. 16.5. Cease and desist orders.
1494	1494	3 (a) The Director may issue a cease and desist order to a
1495	1495	4 sales finance agency or other person doing business without
1496	1496	5 the required license when, in the opinion of the director, the
1497	1497	6 licensee or other person is violating or is about to violate
1498	1498	7 any provision of this Act or any law, rule, or requirement
1499	1499	8 imposed in writing by the Department.
1500	1500	9 (b) The Director may issue a cease and desist order prior
1501	1501	10 to a hearing.
1502	1502	11 (c) The Director shall serve notice of his or her action,
1503	1503	12 designated as a cease and desist order made pursuant to this
1504	1504	13 Section, including a statement of the reasons for the action,
1505	1505	14 either personally, to the email address of record, or by
1506	1506	15 certified mail, return receipt requested. Service by certified
1507	1507	16 mail shall be deemed completed when the notice is deposited in
1508	1508	17 the United States U.S. mail. Service to the email address of
1509	1509	18 record shall be deemed completed when sent.
1510	1510	19 (d) Within 15 days of service of the cease and desist
1511	1511	20 order, the sales finance agency or other person may request,
1512	1512	21 in writing, a hearing.
1513	1513	22 (e) The Director shall schedule a hearing within 30 days
1514	1514	23 after the request for a hearing unless otherwise agreed to by
1515	1515	24 the parties.
1516	1516	25 (f) The Director shall have the authority to prescribe
1517	1517	26 rules for the administration of this Section.
1518	1518
1519	1519
1520	1520
1521	1521
1522	1522
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1524	1524
1525	1525
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1528	1528	1 (g) If it is determined that the Director had the
1529	1529	2 authority to issue the cease and desist order, he or she may
1530	1530	3 issue such orders as may be reasonably necessary to correct,
1531	1531	4 eliminate, or remedy such conduct.
1532	1532	5 (h) The powers vested in the Director by this Section are
1533	1533	6 additional to any and all other powers and remedies vested in
1534	1534	7 the Director by law, and nothing in this Section shall be
1535	1535	8 construed as requiring that the Director shall employ the
1536	1536	9 powers conferred in this Section instead of or as a condition
1537	1537	10 precedent to the exercise of any other power or remedy vested
1538	1538	11 in the Director.
1539	1539	12 (i) The cost for the administrative hearing shall be set
1540	1540	13 by rule.
1541	1541	14 (Source: P.A. 90-437, eff. 1-1-98.)
1542	1542	15 Section 20. The Debt Management Service Act is amended by
1543	1543	16 changing Sections 2, 4, 10, and 20 as follows:
1544	1544	17 (205 ILCS 665/2) (from Ch. 17, par. 5302)
1545	1545	18 Sec. 2. Definitions. As used in this Act:
1546	1546	19 "Credit counselor" means an individual, corporation, or
1547	1547	20 other entity that is not a debt management service that
1548	1548	21 provides (1) guidance, educational programs, or advice for the
1549	1549	22 purpose of addressing budgeting, personal finance, financial
1550	1550	23 literacy, saving and spending practices, or the sound use of
1551	1551	24 consumer credit; or (2) assistance or offers to assist
1552	1552
1553	1553
1554	1554
1555	1555
1556	1556
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1558	1558
1559	1559
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1561	1561	HB3693 - 44 - LRB103 28809 BMS 55194 b
1562	1562	1 individuals and families with financial problems by providing
1563	1563	2 counseling; or (3) a combination of the activities described
1564	1564	3 in items (1) and (2) of this definition.
1565	1565	4 "Debt management service" means the planning and
1566	1566	5 management of the financial affairs of a debtor for a fee and
1567	1567	6 the receiving of money from the debtor for the purpose of
1568	1568	7 distributing it to the debtor's creditors in payment or
1569	1569	8 partial payment of the debtor's obligations or soliciting
1570	1570	9 financial contributions from creditors. The business of debt
1571	1571	10 management is conducted in this State if the debt management
1572	1572	11 business, its employees, or its agents are located in this
1573	1573	12 State or if the debt management business solicits or contracts
1574	1574	13 with debtors located in this State. "Debt management service"
1575	1575	14 does not include "debt settlement service" as defined in the
1576	1576	15 Debt Settlement Consumer Protection Act.
1577	1577	16 This term shall not include the following when engaged in
1578	1578	17 the regular course of their respective businesses and
1579	1579	18 professions:
1580	1580	19 (a) Attorneys at law licensed, or otherwise authorized
1581	1581	20 to practice, in Illinois who are engaged in the practice
1582	1582	21 of law.
1583	1583	22 (b) Banks, operating subsidiaries of banks, affiliates
1584	1584	23 of banks, fiduciaries, credit unions, savings and loan
1585	1585	24 associations, and savings banks as duly authorized and
1586	1586	25 admitted to transact business in the State of Illinois and
1587	1587	26 performing credit and financial adjusting service in the
1588	1588
1589	1589
1590	1590
1591	1591
1592	1592
1593	1593	HB3693 - 44 - LRB103 28809 BMS 55194 b
1594	1594
1595	1595
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1597	1597	HB3693 - 45 - LRB103 28809 BMS 55194 b
1598	1598	1 regular course of their principal business.
1599	1599	2 (c) Title insurers, title agents, independent
1600	1600	3 escrowees, and abstract companies, while doing an escrow
1601	1601	4 business.
1602	1602	5 (d) Judicial officers or others acting pursuant to
1603	1603	6 court order.
1604	1604	7 (e) Employers for their employees, except that no
1605	1605	8 employer shall retain the services of an outside debt
1606	1606	9 management service to perform this service unless the debt
1607	1607	10 management service is licensed pursuant to this Act.
1608	1608	11 (f) Bill payment services, as defined in the
1609	1609	12 Transmitters of Money Act.
1610	1610	13 (g) Credit counselors, only when providing services
1611	1611	14 described in the definition of credit counselor in this
1612	1612	15 Section.
1613	1613	16 "Debtor" means the person or persons for whom the debt
1614	1614	17 management service is performed.
1615	1615	18 "Department" means the Department of Financial and
1616	1616	19 Professional Regulation.
1617	1617	20 "Director" means the Director of Financial Institutions.
1618	1618	21 "Division of Financial Institutions" means the Division of
1619	1619	22 Financial Institutions of the Department of Financial and
1620	1620	23 Professional Regulation.
1621	1621	24 "Email address of record" means the designated email
1622	1622	25 address recorded by the Division of Financial Institutions in
1623	1623	26 the applicant's applicant file or the licensee's license file,
1624	1624
1625	1625
1626	1626
1627	1627
1628	1628
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1630	1630
1631	1631
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1634	1634	1 as maintained by the Division of Financial Institutions'
1635	1635	2 licensure unit.
1636	1636	3 "Person" means an individual, firm, partnership,
1637	1637	4 association, limited liability company, corporation, or
1638	1638	5 not-for-profit corporation.
1639	1639	6 "Licensee" means a person licensed under this Act.
1640	1640	7 "Secretary" means the Secretary of Financial and
1641	1641	8 Professional Regulation or a person authorized by the
1642	1642	9 Secretary to act in the Secretary's stead.
1643	1643	10 (Source: P.A. 100-201, eff. 8-18-17.)
1644	1644	11 (205 ILCS 665/4) (from Ch. 17, par. 5304)
1645	1645	12 Sec. 4. Application for license. Application for a license
1646	1646	13 to engage in the debt management service business in this
1647	1647	14 State shall be made to the Secretary and shall be in writing,
1648	1648	15 under oath, and in the form prescribed by the Secretary. Each
1649	1649	16 applicant shall provide an email address of record.
1650	1650	17 Each applicant, at the time of making such application,
1651	1651	18 shall pay to the Secretary the sum of $30.00 as a fee for
1652	1652	19 investigation of the applicant, and the additional sum of
1653	1653	20 $100.00 as a license fee.
1654	1654	21 Every applicant shall submit to the Secretary, at the time
1655	1655	22 of the application for a license, a bond to be approved by the
1656	1656	23 Secretary in which the applicant shall be the obligor, in the
1657	1657	24 sum of $25,000 or such additional amount as required by the
1658	1658	25 Secretary based on the amount of disbursements made by the
1659	1659
1660	1660
1661	1661
1662	1662
1663	1663
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1665	1665
1666	1666
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1669	1669	1 licensee in the previous year, and in which an insurance
1670	1670	2 company, which is duly authorized by the State of Illinois, to
1671	1671	3 transact the business of fidelity and surety insurance shall
1672	1672	4 be a surety.
1673	1673	5 The bond shall run to the Secretary for the use of the
1674	1674	6 Department or of any person or persons who may have a cause of
1675	1675	7 action against the obligor in said bond arising out of any
1676	1676	8 violation of this Act or rules by a license. Such bond shall be
1677	1677	9 conditioned that the obligor will faithfully conform to and
1678	1678	10 abide by the provisions of this Act and of all rules,
1679	1679	11 regulations and directions lawfully made by the Secretary and
1680	1680	12 will pay to the Secretary or to any person or persons any and
1681	1681	13 all money that may become due or owing to the State or to such
1682	1682	14 person or persons, from said obligor under and by virtue of the
1683	1683	15 provisions of this Act.
1684	1684	16 (Source: P.A. 96-1420, eff. 8-3-10.)
1685	1685	17 (205 ILCS 665/10) (from Ch. 17, par. 5310)
1686	1686	18 Sec. 10. Revocation, suspension, or refusal to renew
1687	1687	19 license.
1688	1688	20 (a) The Secretary may revoke or suspend or refuse to renew
1689	1689	21 any license if he finds that:
1690	1690	22 (1) any licensee has failed to pay the annual license
1691	1691	23 fee, or to maintain in effect the bond required under the
1692	1692	24 provisions of this Act;
1693	1693	25 (2) the licensee has violated any provisions of this
1694	1694
1695	1695
1696	1696
1697	1697
1698	1698
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1700	1700
1701	1701
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1704	1704	1 Act or any rule, lawfully made by the Secretary within the
1705	1705	2 authority of this Act;
1706	1706	3 (3) any fact or condition exists which, if it had
1707	1707	4 existed at the time of the original application for a
1708	1708	5 license, would have warranted the Secretary in refusing
1709	1709	6 its issuance; or
1710	1710	7 (4) any applicant has made any false statement or
1711	1711	8 representation to the Secretary in applying for a license
1712	1712	9 hereunder.
1713	1713	10 (b) In every case in which a license is suspended or
1714	1714	11 revoked or an application for a license or renewal of a license
1715	1715	12 is denied, the Secretary shall serve notice of his action,
1716	1716	13 including a statement of the reasons for his actions, either
1717	1717	14 personally, to the email address of record, or by certified
1718	1718	15 mail, return receipt requested. Service by mail shall be
1719	1719	16 deemed completed if the notice is deposited in the United
1720	1720	17 States mail U.S. Mail. Service to the email address of record
1721	1721	18 shall be deemed completed when sent.
1722	1722	19 (c) In the case of a denial of an application or renewal of
1723	1723	20 a license, the applicant or licensee may request in writing,
1724	1724	21 within 30 days after the date of service, a hearing. In the
1725	1725	22 case of a denial of a renewal of a license, the license shall
1726	1726	23 be deemed to continue in force until 30 days after the service
1727	1727	24 of the notice of denial, or if a hearing is requested during
1728	1728	25 that period, until a final administrative order is entered.
1729	1729	26 (d) An order of revocation or suspension of a license
1730	1730
1731	1731
1732	1732
1733	1733
1734	1734
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1736	1736
1737	1737
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1740	1740	1 shall take effect upon service of the order unless the
1741	1741	2 licensee requests, in writing, within 10 days after the date
1742	1742	3 of service, a hearing. In the event a hearing is requested, the
1743	1743	4 order shall be stayed until a final administrative order is
1744	1744	5 entered.
1745	1745	6 (e) If the licensee requests a hearing, the Secretary
1746	1746	7 shall schedule either a status date or a hearing within 30 days
1747	1747	8 after the request for a hearing unless otherwise agreed to by
1748	1748	9 the parties.
1749	1749	10 (f) The hearing shall be held at the time and place
1750	1750	11 designated by the Secretary. The Secretary and any
1751	1751	12 administrative law judge designated by him have the power to
1752	1752	13 administer oaths and affirmations, subpoena witnesses and
1753	1753	14 compel their attendance, take evidence, and require the
1754	1754	15 production of books, papers, correspondence, and other records
1755	1755	16 or information that he considers relevant or material to the
1756	1756	17 injury.
1757	1757	18 (g) The costs for the administrative hearing shall be set
1758	1758	19 by rule and shall be borne by the respondent.
1759	1759	20 (Source: P.A. 96-1420, eff. 8-3-10.)
1760	1760	21 (205 ILCS 665/20) (from Ch. 17, par. 5323)
1761	1761	22 Sec. 20. Cease and desist orders.
1762	1762	23 (a) The Secretary may issue a cease and desist order to any
1763	1763	24 licensee, or other person doing business without the required
1764	1764	25 license, when in the opinion of the Secretary, the licensee,
1765	1765
1766	1766
1767	1767
1768	1768
1769	1769
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1771	1771
1772	1772
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1774	1774	HB3693 - 50 - LRB103 28809 BMS 55194 b
1775	1775	1 or other person, is violating or is about to violate any
1776	1776	2 provision of the Act or any rule or condition imposed in
1777	1777	3 writing by the Department.
1778	1778	4 (b) The Secretary may issue a cease and desist order prior
1779	1779	5 to a hearing.
1780	1780	6 (c) The Secretary shall serve notice of his action,
1781	1781	7 including a statement of the reasons for his action either
1782	1782	8 personally, to the email address of record, or by certified
1783	1783	9 mail, return receipt requested. Service by mail shall be
1784	1784	10 deemed completed if the notice is deposited in the U.S. Mail.
1785	1785	11 Service to the email address of record shall be deemed
1786	1786	12 completed when sent.
1787	1787	13 (d) Within 10 days after service of the cease and desist
1788	1788	14 order, the licensee or other person may request, in writing, a
1789	1789	15 hearing.
1790	1790	16 (e) The Secretary shall schedule either a status date or a
1791	1791	17 hearing within 30 days after the request for a hearing unless
1792	1792	18 otherwise agreed to by the parties.
1793	1793	19 (g) If it is determined that the Secretary had the
1794	1794	20 authority to issue the cease and desist order, he may issue
1795	1795	21 such orders as may be reasonably necessary to correct,
1796	1796	22 eliminate, or remedy such conduct.
1797	1797	23 (h) The powers vested in the Secretary by this Section are
1798	1798	24 additional to any and all other powers and remedies vested in
1799	1799	25 the Secretary by law, and nothing in this Section shall be
1800	1800	26 construed as requiring that the Secretary shall employ the
1801	1801
1802	1802
1803	1803
1804	1804
1805	1805
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1807	1807
1808	1808
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1810	1810	HB3693 - 51 - LRB103 28809 BMS 55194 b
1811	1811	1 power conferred in this Section instead of or as a condition
1812	1812	2 precedent to the exercise of any other power or remedy vested
1813	1813	3 in the Secretary.
1814	1814	4 (i) The cost for the administrative hearing shall be set
1815	1815	5 by rule and shall be borne by the respondent.
1816	1816	6 (Source: P.A. 96-1420, eff. 8-3-10.)
1817	1817	7 Section 25. The Consumer Installment Loan Act is amended
1818	1818	8 by changing Sections 2, 3, 8, 9, and 20.5 and by adding Section
1819	1819	9 0.5 as follows:
1820	1820	10 (205 ILCS 670/0.5 new)
1821	1821	11 Sec. 0.5. Definitions. As used in this Act:
1822	1822	12 "Department" means the Department of Financial and
1823	1823	13 Professional Regulation.
1824	1824	14 "Director" means the Director of the Division of Financial
1825	1825	15 Institutions.
1826	1826	16 "Division of Financial Institutions" means the Division of
1827	1827	17 Financial Institutions of the Department of Financial and
1828	1828	18 Professional Regulation.
1829	1829	19 "Email address of record" means the designated email
1830	1830	20 address recorded by the Division of Financial Institutions in
1831	1831	21 the applicant's applicant file or the licensee's license file,
1832	1832	22 as maintained by the Division of Financial Institutions'
1833	1833	23 licensure unit.
1834	1834	24 "Secretary" means the Secretary of Financial and
1835	1835
1836	1836
1837	1837
1838	1838
1839	1839
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1841	1841
1842	1842
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1844	1844	HB3693 - 52 - LRB103 28809 BMS 55194 b
1845	1845	1 Professional Regulation or a person authorized by the
1846	1846	2 Secretary to act in the Secretary's stead.
1847	1847	3 (205 ILCS 670/2) (from Ch. 17, par. 5402)
1848	1848	4 Sec. 2. Application; fees; positive net worth. Application
1849	1849	5 for such license shall be in writing, and in the form
1850	1850	6 prescribed by the Director. Such applicant at the time of
1851	1851	7 making such application shall pay to the Director the sum of
1852	1852	8 $300 as an application fee and the additional sum of $450 as an
1853	1853	9 annual license fee, for a period terminating on the last day of
1854	1854	10 the current calendar year; provided that if the application is
1855	1855	11 filed after June 30th in any year, such license fee shall be
1856	1856	12 1/2 of the annual license fee for such year. At the time of
1857	1857	13 application, each applicant shall provide an email address of
1858	1858	14 record.
1859	1859	15 Before the license is granted, every applicant shall prove
1860	1860	16 in form satisfactory to the Director that the applicant has
1861	1861	17 and will maintain a positive net worth of a minimum of $30,000.
1862	1862	18 Every applicant and licensee shall maintain a surety bond in
1863	1863	19 the principal sum of $25,000 issued by a bonding company
1864	1864	20 authorized to do business in this State and which shall be
1865	1865	21 approved by the Director. Such bond shall run to the Director
1866	1866	22 and shall be for the benefit of any consumer who incurs damages
1867	1867	23 as a result of any violation of the Act or rules by a licensee.
1868	1868	24 If the Director finds at any time that a bond is of
1869	1869	25 insufficient size, is insecure, exhausted, or otherwise
1870	1870
1871	1871
1872	1872
1873	1873
1874	1874
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1876	1876
1877	1877
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1879	1879	HB3693 - 53 - LRB103 28809 BMS 55194 b
1880	1880	1 doubtful, an additional bond in such amount as determined by
1881	1881	2 the Director shall be filed by the licensee within 30 days
1882	1882	3 after written demand therefor by the Director. "Net worth"
1883	1883	4 means total assets minus total liabilities.
1884	1884	5 (Source: P.A. 92-398, eff. 1-1-02; 93-32, eff. 7-1-03.)
1885	1885	6 (205 ILCS 670/3) (from Ch. 17, par. 5403)
1886	1886	7 Sec. 3. Appointment of attorney-in-fact for service of
1887	1887	8 process. Every licensee shall appoint, in writing, the
1888	1888	9 Director of Financial Institutions (hereinafter called
1889	1889	10 Director) and his successors in office or any official who
1890	1890	11 shall hereafter be charged with the administration of this
1891	1891	12 Act, as attorney-in-fact upon whom all lawful process against
1892	1892	13 such licensee may be served with the same legal force and
1893	1893	14 validity as if served on such licensee. A copy of such written
1894	1894	15 appointment, duly certified, shall be filed in the office of
1895	1895	16 the Director; and a copy thereof certified by him shall be
1896	1896	17 sufficient evidence. This appointment shall remain in effect
1897	1897	18 while any liability remains outstanding in this State against
1898	1898	19 the licensee. When summons is served upon the Director as
1899	1899	20 attorney-in-fact for such licensee, the Director shall
1900	1900	21 immediately notify the licensee by certified registered mail,
1901	1901	22 return receipt requested, or by email to the email address of
1902	1902	23 record, enclosing the summons and specifying the hour and day
1903	1903	24 of service. Service by certified mail shall be deemed
1904	1904	25 completed when the notice is deposited in the United States
1905	1905
1906	1906
1907	1907
1908	1908
1909	1909
1910	1910	HB3693 - 53 - LRB103 28809 BMS 55194 b
1911	1911
1912	1912
1913	1913	HB3693- 54 -LRB103 28809 BMS 55194 b HB3693 - 54 - LRB103 28809 BMS 55194 b
1914	1914	HB3693 - 54 - LRB103 28809 BMS 55194 b
1915	1915	1 mail. Service to the email address of record shall be deemed
1916	1916	2 completed when sent.
1917	1917	3 (Source: Laws 1963, p. 3526.)
1918	1918	4 (205 ILCS 670/8) (from Ch. 17, par. 5408)
1919	1919	5 Sec. 8. Annual license fee; expenses fee - Expenses.
1920	1920	6 Before the 1st day of each December, a licensee must pay to the
1921	1921	7 Director, and the Department must receive, the annual license
1922	1922	8 fee required by Section 2 for the next succeeding calendar
1923	1923	9 year. The license shall expire on the first of January unless
1924	1924	10 the license fee has been paid prior thereto. At the time of
1925	1925	11 renewal, each licensee shall provide an email address of
1926	1926	12 record.
1927	1927	13 In addition to such license fee, the reasonable expense of
1928	1928	14 any examination, investigation or custody by the Director
1929	1929	15 under any provisions of this Act shall be borne by the
1930	1930	16 licensee.
1931	1931	17 If a licensee fails to renew his or her license by the 31st
1932	1932	18 day of December, it shall automatically expire and the
1933	1933	19 licensee is not entitled to a hearing; however, the Director,
1934	1934	20 in his or her discretion, may reinstate an expired license
1935	1935	21 upon payment of the annual renewal fee and proof of good cause
1936	1936	22 for failure to renew.
1937	1937	23 (Source: P.A. 100-958, eff. 8-19-18.)
1938	1938	24 (205 ILCS 670/9) (from Ch. 17, par. 5409)
1939	1939
1940	1940
1941	1941
1942	1942
1943	1943
1944	1944	HB3693 - 54 - LRB103 28809 BMS 55194 b
1945	1945
1946	1946
1947	1947	HB3693- 55 -LRB103 28809 BMS 55194 b HB3693 - 55 - LRB103 28809 BMS 55194 b
1948	1948	HB3693 - 55 - LRB103 28809 BMS 55194 b
1949	1949	1 Sec. 9. Fines; suspension or revocation , Suspension or
1950	1950	2 Revocation of license.
1951	1951	3 (a) The Director may, after 10 days notice by certified
1952	1952	4 registered mail to the licensee at the address set forth in the
1953	1953	5 license, or by email to the email address of record, stating
1954	1954	6 the contemplated action and in general the grounds therefor,
1955	1955	7 fine such licensee an amount not exceeding $10,000 per
1956	1956	8 violation, or revoke or suspend any license issued hereunder
1957	1957	9 if he or she finds that:
1958	1958	10 (1) The licensee has failed to comply with any
1959	1959	11 provision of this Act or any order, decision, finding,
1960	1960	12 rule, regulation or direction of the Director lawfully
1961	1961	13 made pursuant to the authority of this Act; or
1962	1962	14 (2) Any fact or condition exists which, if it had
1963	1963	15 existed at the time of the original application for the
1964	1964	16 license, clearly would have warranted the Director in
1965	1965	17 refusing to issue the license.
1966	1966	18 Service by certified mail shall be deemed completed when
1967	1967	19 the notice is deposited in the United States mail. Service to
1968	1968	20 the email address of record shall be deemed completed when
1969	1969	21 sent.
1970	1970	22 (b) The Director may fine, suspend, or revoke only the
1971	1971	23 particular license with respect to which grounds for the fine,
1972	1972	24 revocation or suspension occur or exist, but if the Director
1973	1973	25 shall find that grounds for revocation are of general
1974	1974	26 application to all offices or to more than one office of the
1975	1975
1976	1976
1977	1977
1978	1978
1979	1979
1980	1980	HB3693 - 55 - LRB103 28809 BMS 55194 b
1981	1981
1982	1982
1983	1983	HB3693- 56 -LRB103 28809 BMS 55194 b HB3693 - 56 - LRB103 28809 BMS 55194 b
1984	1984	HB3693 - 56 - LRB103 28809 BMS 55194 b
1985	1985	1 licensee, the Director shall fine, suspend, or revoke every
1986	1986	2 license to which such grounds apply.
1987	1987	3 (c) (Blank).
1988	1988	4 (d) No revocation, suspension, or surrender of any license
1989	1989	5 shall impair or affect the obligation of any pre-existing
1990	1990	6 lawful contract between the licensee and any obligor.
1991	1991	7 (e) The Director may issue a new license to a licensee
1992	1992	8 whose license has been revoked when facts or conditions which
1993	1993	9 clearly would have warranted the Director in refusing
1994	1994	10 originally to issue the license no longer exist.
1995	1995	11 (f) (Blank).
1996	1996	12 (g) In every case in which a license is suspended or
1997	1997	13 revoked or an application for a license or renewal of a license
1998	1998	14 is denied, the Director shall serve the licensee with notice
1999	1999	15 of his or her action, including a statement of the reasons for
2000	2000	16 his or her actions, either personally, to the email address of
2001	2001	17 record, or by certified mail, return receipt requested.
2002	2002	18 Service by certified mail shall be deemed completed when the
2003	2003	19 notice is deposited in the United States mail U.S. Mail.
2004	2004	20 Service to the email address of record shall be deemed
2005	2005	21 completed when sent.
2006	2006	22 (h) An order assessing a fine, an order revoking or
2007	2007	23 suspending a license or, an order denying renewal of a license
2008	2008	24 shall take effect upon service of the order unless the
2009	2009	25 licensee requests, in writing, within 10 days after the date
2010	2010	26 of service, a hearing. In the event a hearing is requested, the
2011	2011
2012	2012
2013	2013
2014	2014
2015	2015
2016	2016	HB3693 - 56 - LRB103 28809 BMS 55194 b
2017	2017
2018	2018
2019	2019	HB3693- 57 -LRB103 28809 BMS 55194 b HB3693 - 57 - LRB103 28809 BMS 55194 b
2020	2020	HB3693 - 57 - LRB103 28809 BMS 55194 b
2021	2021	1 order shall be stayed until a final administrative order is
2022	2022	2 entered.
2023	2023	3 (i) If the licensee requests a hearing, the Director shall
2024	2024	4 schedule a hearing within 30 days after the request for a
2025	2025	5 hearing unless otherwise agreed to by the parties.
2026	2026	6 (j) The hearing shall be held at the time and place
2027	2027	7 designated by the Director. The Director and any
2028	2028	8 administrative law judge designated by him or her shall have
2029	2029	9 the power to administer oaths and affirmations, subpoena
2030	2030	10 witnesses and compel their attendance, take evidence, and
2031	2031	11 require the production of books, papers, correspondence, and
2032	2032	12 other records or information that he or she considers relevant
2033	2033	13 or material to the inquiry.
2034	2034	14 (k) The costs for the administrative hearing shall be set
2035	2035	15 by rule.
2036	2036	16 (l) The Director shall have the authority to prescribe
2037	2037	17 rules for the administration of this Section.
2038	2038	18 (m) The Department shall establish by rule and publish a
2039	2039	19 schedule of fines that are reasonably tailored to ensure
2040	2040	20 compliance with the provisions of this Act and which include
2041	2041	21 remedial measures intended to improve licensee compliance.
2042	2042	22 Such rules shall set forth the standards and procedures to be
2043	2043	23 used in imposing any such fines and remedies.
2044	2044	24 (Source: P.A. 98-209, eff. 1-1-14.)
2045	2045	25 (205 ILCS 670/20.5)
2046	2046
2047	2047
2048	2048
2049	2049
2050	2050
2051	2051	HB3693 - 57 - LRB103 28809 BMS 55194 b
2052	2052
2053	2053
2054	2054	HB3693- 58 -LRB103 28809 BMS 55194 b HB3693 - 58 - LRB103 28809 BMS 55194 b
2055	2055	HB3693 - 58 - LRB103 28809 BMS 55194 b
2056	2056	1 Sec. 20.5. Cease and desist.
2057	2057	2 (a) The Director may issue a cease and desist order to any
2058	2058	3 licensee, or other person doing business without the required
2059	2059	4 license, when in the opinion of the Director, the licensee, or
2060	2060	5 other person, is violating or is about to violate any
2061	2061	6 provision of this Act or any rule or requirement imposed in
2062	2062	7 writing by the Department as a condition of granting any
2063	2063	8 authorization permitted by this Act.
2064	2064	9 (b) The Director may issue a cease and desist order prior
2065	2065	10 to a hearing.
2066	2066	11 (c) The Director shall serve notice of his or her action,
2067	2067	12 designated as a cease and desist order made pursuant to this
2068	2068	13 Section, including a statement of the reasons for the action,
2069	2069	14 either personally, to the email address of record, or by
2070	2070	15 certified mail, return receipt requested. Service by certified
2071	2071	16 mail shall be deemed completed when the notice is deposited in
2072	2072	17 the United States U.S. mail. Service to the email address of
2073	2073	18 record shall be deemed completed when sent.
2074	2074	19 (d) Within 15 days of service of the cease and desist
2075	2075	20 order, the licensee or other person may request, in writing, a
2076	2076	21 hearing.
2077	2077	22 (e) The Director shall schedule a hearing within 30 days
2078	2078	23 after the request for a hearing unless otherwise agreed to by
2079	2079	24 the parties.
2080	2080	25 (f) The Director shall have the authority to prescribe
2081	2081	26 rules for the administration of this Section.
2082	2082
2083	2083
2084	2084
2085	2085
2086	2086
2087	2087	HB3693 - 58 - LRB103 28809 BMS 55194 b
2088	2088
2089	2089
2090	2090	HB3693- 59 -LRB103 28809 BMS 55194 b HB3693 - 59 - LRB103 28809 BMS 55194 b
2091	2091	HB3693 - 59 - LRB103 28809 BMS 55194 b
2092	2092	1 (g) If it is determined that the Director had the
2093	2093	2 authority to issue the cease and desist order, he or she may
2094	2094	3 issue such orders as may be reasonably necessary to correct,
2095	2095	4 eliminate, or remedy such conduct.
2096	2096	5 (h) The powers vested in the Director by this Section are
2097	2097	6 additional to any and all other powers and remedies vested in
2098	2098	7 the Director by law, and nothing in this Section shall be
2099	2099	8 construed as requiring that the Director shall employ the
2100	2100	9 power conferred in this Section instead of or as a condition
2101	2101	10 precedent to the exercise of any other power or remedy vested
2102	2102	11 in the Director.
2103	2103	12 (i) The cost for the administrative hearing shall be set
2104	2104	13 by rule.
2105	2105	14 (Source: P.A. 90-437, eff. 1-1-98.)
2106	2106	15 Section 30. The Debt Settlement Consumer Protection Act is
2107	2107	16 amended by changing Sections 10, 20, 50, 80, and 95 as follows:
2108	2108	17 (225 ILCS 429/10)
2109	2109	18 Sec. 10. Definitions. As used in this Act:
2110	2110	19 "Consumer" means any person who purchases or contracts for
2111	2111	20 the purchase of debt settlement services or a student loan
2112	2112	21 borrower.
2113	2113	22 "Consumer settlement account" means any account or other
2114	2114	23 means or device in which payments, deposits, or other
2115	2115	24 transfers from a consumer are arranged, held, or transferred
2116	2116
2117	2117
2118	2118
2119	2119
2120	2120
2121	2121	HB3693 - 59 - LRB103 28809 BMS 55194 b
2122	2122
2123	2123
2124	2124	HB3693- 60 -LRB103 28809 BMS 55194 b HB3693 - 60 - LRB103 28809 BMS 55194 b
2125	2125	HB3693 - 60 - LRB103 28809 BMS 55194 b
2126	2126	1 by or to a debt settlement provider for the accumulation of the
2127	2127	2 consumer's funds in anticipation of proffering an adjustment
2128	2128	3 or settlement of a debt or obligation of the consumer to a
2129	2129	4 creditor on behalf of the consumer.
2130	2130	5 "Debt settlement provider" means: (1) any person or entity
2131	2131	6 engaging in, or holding itself out as engaging in, the
2132	2132	7 business of providing debt settlement service in exchange for
2133	2133	8 any fee or compensation; (2) any person who solicits for or
2134	2134	9 acts on behalf of any person or entity engaging in, or holding
2135	2135	10 itself out as engaging in, the business of providing debt
2136	2136	11 settlement service in exchange for any fee or compensation;
2137	2137	12 (3) any person or entity engaging in, or holding itself out as
2138	2138	13 engaging in the business of student loan debt relief services
2139	2139	14 in exchange for any fee or compensation assessed against or
2140	2140	15 charged to a consumer; or (4) any person who solicits for or
2141	2141	16 acts on behalf of such person or entity engaging in or holding
2142	2142	17 itself out as engaging in, the business of student loan debt
2143	2143	18 relief services in exchange for any fee or compensation
2144	2144	19 assessed against or charged to a consumer. "Debt settlement
2145	2145	20 provider" does not include:
2146	2146	21 (1) attorneys licensed, or otherwise authorized, to
2147	2147	22 practice in Illinois who are engaged in the practice of
2148	2148	23 law;
2149	2149	24 (2) escrow agents, accountants, broker dealers in
2150	2150	25 securities, or investment advisors in securities, when
2151	2151	26 acting in the ordinary practice of their professions and
2152	2152
2153	2153
2154	2154
2155	2155
2156	2156
2157	2157	HB3693 - 60 - LRB103 28809 BMS 55194 b
2158	2158
2159	2159
2160	2160	HB3693- 61 -LRB103 28809 BMS 55194 b HB3693 - 61 - LRB103 28809 BMS 55194 b
2161	2161	HB3693 - 61 - LRB103 28809 BMS 55194 b
2162	2162	1 through the entity used in the ordinary practice of their
2163	2163	2 profession;
2164	2164	3 (3) any bank, agent of a bank, operating subsidiary of
2165	2165	4 a bank, affiliate of a bank, trust company, savings and
2166	2166	5 loan association, savings bank, credit union, crop credit
2167	2167	6 association, development credit corporation, industrial
2168	2168	7 development corporation, title insurance company, title
2169	2169	8 insurance agent, independent escrowee or insurance company
2170	2170	9 operating or organized under the laws of a state or the
2171	2171	10 United States, or any other person authorized to make
2172	2172	11 loans under State law while acting in the ordinary
2173	2173	12 practice of that business;
2174	2174	13 (4) any person who performs credit services for his or
2175	2175	14 her employer while receiving a regular salary or wage when
2176	2176	15 the employer is not engaged in the business of offering or
2177	2177	16 providing debt settlement service;
2178	2178	17 (5) a collection agency licensed pursuant to the
2179	2179	18 Collection Agency Act that is collecting a debt on its own
2180	2180	19 behalf or on behalf of a third party;
2181	2181	20 (6) an organization that is described in Section
2182	2182	21 501(c)(3) and subject to Section 501(q) of Title 26 of the
2183	2183	22 United States Code and exempt from tax under Section
2184	2184	23 501(a) of Title 26 of the United States Code and governed
2185	2185	24 by the Debt Management Service Act;
2186	2186	25 (7) public officers while acting in their official
2187	2187	26 capacities and persons acting under court order;
2188	2188
2189	2189
2190	2190
2191	2191
2192	2192
2193	2193	HB3693 - 61 - LRB103 28809 BMS 55194 b
2194	2194
2195	2195
2196	2196	HB3693- 62 -LRB103 28809 BMS 55194 b HB3693 - 62 - LRB103 28809 BMS 55194 b
2197	2197	HB3693 - 62 - LRB103 28809 BMS 55194 b
2198	2198	1 (8) any person while performing services incidental to
2199	2199	2 the dissolution, winding up, or liquidating of a
2200	2200	3 partnership, corporation, or other business enterprise;
2201	2201	4 (9) persons licensed under the Real Estate License Act
2202	2202	5 of 2000 when acting in the ordinary practice of their
2203	2203	6 profession and not holding themselves out as debt
2204	2204	7 settlement providers; or
2205	2205	8 (10) any institution of higher education as defined in
2206	2206	9 the Higher Education Act of 1965, 20 U.S.C. 1001.
2207	2207	10 "Debt settlement service" means:
2208	2208	11 (1) offering to provide advice or service, or acting
2209	2209	12 as an intermediary between or on behalf of a consumer and
2210	2210	13 one or more of a consumer's creditors, where the primary
2211	2211	14 purpose of the advice, service, or action is to obtain a
2212	2212	15 settlement, adjustment, or satisfaction of the consumer's
2213	2213	16 unsecured debt to a creditor in an amount less than the
2214	2214	17 full amount of the principal amount of the debt or in an
2215	2215	18 amount less than the current outstanding balance of the
2216	2216	19 debt;
2217	2217	20 (2) offering to provide services related to or
2218	2218	21 providing services advising, encouraging, assisting, or
2219	2219	22 counseling a consumer to accumulate funds for the primary
2220	2220	23 purpose of proposing or obtaining or seeking to obtain a
2221	2221	24 settlement, adjustment, or satisfaction of the consumer's
2222	2222	25 unsecured debt to a creditor in an amount less than the
2223	2223	26 full amount of the principal amount of the debt or in an
2224	2224
2225	2225
2226	2226
2227	2227
2228	2228
2229	2229	HB3693 - 62 - LRB103 28809 BMS 55194 b
2230	2230
2231	2231
2232	2232	HB3693- 63 -LRB103 28809 BMS 55194 b HB3693 - 63 - LRB103 28809 BMS 55194 b
2233	2233	HB3693 - 63 - LRB103 28809 BMS 55194 b
2234	2234	1 amount less than the current outstanding balance of the
2235	2235	2 debt; or
2236	2236	3 (3) student loan debt relief.
2237	2237	4 "Debt settlement service" does not include (A) the
2238	2238	5 services of attorneys licensed, or otherwise authorized, to
2239	2239	6 practice in Illinois who are engaged in the practice of law,
2240	2240	7 (B) debt management service as defined in the Debt Management
2241	2241	8 Service Act, (C) the services of a student loan servicer, as
2242	2242	9 defined in the Student Loan Servicing Rights Act, or (D) the
2243	2243	10 services of any other originator, guarantor, or servicer of
2244	2244	11 federal education loans or private education loans.
2245	2245	12 "Department" means the Department of Financial and
2246	2246	13 Professional Regulation.
2247	2247	14 "Director" means the Director of the Division of Financial
2248	2248	15 Institutions.
2249	2249	16 "Division of Financial Institutions" means the Division of
2250	2250	17 Financial Institutions of the Department of Financial and
2251	2251	18 Professional Regulation.
2252	2252	19 "Email address of record" means the designated email
2253	2253	20 address recorded by the Division of Financial Institutions in
2254	2254	21 the applicant's applicant file or the licensee's license file,
2255	2255	22 as maintained by the Division of Financial Institutions'
2256	2256	23 licensure unit.
2257	2257	24 "Enrollment or set up fee" means any fee, obligation, or
2258	2258	25 compensation paid or to be paid by the consumer to a debt
2259	2259	26 settlement provider in consideration of or in connection with
2260	2260
2261	2261
2262	2262
2263	2263
2264	2264
2265	2265	HB3693 - 63 - LRB103 28809 BMS 55194 b
2266	2266
2267	2267
2268	2268	HB3693- 64 -LRB103 28809 BMS 55194 b HB3693 - 64 - LRB103 28809 BMS 55194 b
2269	2269	HB3693 - 64 - LRB103 28809 BMS 55194 b
2270	2270	1 establishing a contract or other agreement with a consumer
2271	2271	2 related to the provision of debt settlement service.
2272	2272	3 "Federal education loan" means any loan made, guaranteed,
2273	2273	4 or insured under Title IV of the federal Higher Education Act
2274	2274	5 of 1965.
2275	2275	6 "Maintenance fee" means any fee, obligation, or
2276	2276	7 compensation paid or to be paid by the consumer on a periodic
2277	2277	8 basis to a debt settlement provider in consideration of
2278	2278	9 maintaining the relationship and services to be provided by a
2279	2279	10 debt settlement provider in accordance with a contract with a
2280	2280	11 consumer related to the provision of debt settlement service.
2281	2281	12 "Principal amount of the debt" means the total amount or
2282	2282	13 outstanding balance owed by a consumer to one or more
2283	2283	14 creditors for a debt that is included in a contract for debt
2284	2284	15 settlement service at the time when the consumer enters into a
2285	2285	16 contract for debt settlement service.
2286	2286	17 "Savings" means the difference between the principal
2287	2287	18 amount of the debt and the amount paid by the debt settlement
2288	2288	19 provider to the creditor or negotiated by the debt settlement
2289	2289	20 provider and paid by the consumer to the creditor pursuant to a
2290	2290	21 settlement negotiated by the debt settlement provider on
2291	2291	22 behalf of the consumer as full and complete satisfaction of
2292	2292	23 the creditor's claim with regard to that debt.
2293	2293	24 "Secretary" means the Secretary of Financial and
2294	2294	25 Professional Regulation or a person authorized by the
2295	2295	26 Secretary to act in the Secretary's stead.
2296	2296
2297	2297
2298	2298
2299	2299
2300	2300
2301	2301	HB3693 - 64 - LRB103 28809 BMS 55194 b
2302	2302
2303	2303
2304	2304	HB3693- 65 -LRB103 28809 BMS 55194 b HB3693 - 65 - LRB103 28809 BMS 55194 b
2305	2305	HB3693 - 65 - LRB103 28809 BMS 55194 b
2306	2306	1 "Settlement fee" means any fee, obligation, or
2307	2307	2 compensation paid or to be paid by the consumer to a debt
2308	2308	3 settlement provider in consideration of or in connection with
2309	2309	4 a completed agreement or other arrangement on the part of a
2310	2310	5 creditor to accept less than the principal amount of the debt
2311	2311	6 as satisfaction of the creditor's claim against the consumer.
2312	2312	7 "Student loan borrower" means a person who has received or
2313	2313	8 agreed to pay a student loan for his or her own educational
2314	2314	9 expenses; a parent, grandparent, or other family member who
2315	2315	10 has received or agreed to pay a student loan for a family
2316	2316	11 member receiving the education; or any co-signer who has
2317	2317	12 agreed to share responsibility for repaying a student loan
2318	2318	13 with the person receiving the education.
2319	2319	14 "Student loan debt relief" means, in exchange for any fee
2320	2320	15 or compensation assessed against or charged to a student loan
2321	2321	16 borrower, offering to provide advice or service, or acting as
2322	2322	17 an intermediary between or on behalf of a consumer and the
2323	2323	18 United States Department of Education or any other originator
2324	2324	19 or guarantor of federal education loans or one or more of the
2325	2325	20 servicers of a student loan borrower's federal education loan,
2326	2326	21 where the primary purpose of the advice, service, or action is
2327	2327	22 to (1) negotiate, arrange, or obtain a settlement, adjustment,
2328	2328	23 discharge, or satisfaction of the student loan borrower's
2329	2329	24 federal education loan debt in an amount less than the full
2330	2330	25 amount of the principal amount of the debt, a reduction or
2331	2331	26 alteration to the interest rate, a reduction or alteration in
2332	2332
2333	2333
2334	2334
2335	2335
2336	2336
2337	2337	HB3693 - 65 - LRB103 28809 BMS 55194 b
2338	2338
2339	2339
2340	2340	HB3693- 66 -LRB103 28809 BMS 55194 b HB3693 - 66 - LRB103 28809 BMS 55194 b
2341	2341	HB3693 - 66 - LRB103 28809 BMS 55194 b
2342	2342	1 the amount of monthly payment or fees owed, or in an amount
2343	2343	2 less than the current outstanding balance of the debt, (2)
2344	2344	3 enroll the student loan borrower in a repayment plan,
2345	2345	4 forbearance, or deferment of his or her federal education loan
2346	2346	5 debt, (3) apply for consolidation or consolidate the student
2347	2347	6 loan borrower's federal education loans, or (4) offer to
2348	2348	7 provide any other services related to altering the terms of a
2349	2349	8 student loan borrower's federal education loan debt,
2350	2350	9 including, but not limited to, a reduction in the amount of
2351	2351	10 interest, the principal balance, or the amount of monthly
2352	2352	11 payment or fees owed.
2353	2353	12 (Source: P.A. 102-298, eff. 8-6-21.)
2354	2354	13 (225 ILCS 429/20)
2355	2355	14 Sec. 20. Application for license. An application for a
2356	2356	15 license to operate as a debt settlement provider in this State
2357	2357	16 shall be made to the Secretary and shall be in writing, under
2358	2358	17 oath, and in the form prescribed by the Secretary. Each
2359	2359	18 applicant shall provide an email address of record.
2360	2360	19 Each applicant, at the time of making such application,
2361	2361	20 shall pay to the Secretary the required fee as set by rule.
2362	2362	21 Every applicant shall submit to the Secretary, at the time
2363	2363	22 of the application for a license, a bond to be approved by the
2364	2364	23 Secretary in which the applicant shall be the obligor, in the
2365	2365	24 sum of $100,000 or an additional amount as required by the
2366	2366	25 Secretary, and in which an insurance company, which is duly
2367	2367
2368	2368
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2377	2377	1 authorized by the State of Illinois to transact the business
2378	2378	2 of fidelity and surety insurance, shall be a surety.
2379	2379	3 The bond shall run to the Secretary for the use of the
2380	2380	4 Department or of any person or persons who may have a cause of
2381	2381	5 action against the obligor in said bond arising out of any
2382	2382	6 violation of this Act or rules by a debt settlement provider.
2383	2383	7 Such bond shall be conditioned that the obligor must
2384	2384	8 faithfully conform to and abide by the provisions of this Act
2385	2385	9 and of all rules, regulations, and directions lawfully made by
2386	2386	10 the Secretary and pay to the Secretary or to any person or
2387	2387	11 persons any and all money that may become due or owing to the
2388	2388	12 State or to such person or persons, from the obligor under and
2389	2389	13 by virtue of the provisions of this Act.
2390	2390	14 (Source: P.A. 96-1420, eff. 8-3-10.)
2391	2391	15 (225 ILCS 429/50)
2392	2392	16 Sec. 50. Revocation or suspension of license.
2393	2393	17 (a) The Secretary may revoke or suspend any license if he
2394	2394	18 or she finds that:
2395	2395	19 (1) any debt settlement provider has failed to pay the
2396	2396	20 annual license fee or to maintain in effect the bond
2397	2397	21 required under the provisions of this Act;
2398	2398	22 (2) the debt settlement provider has violated any
2399	2399	23 provisions of this Act or any rule lawfully made by the
2400	2400	24 Secretary under the authority of this Act;
2401	2401	25 (3) any fact or condition exists that, if it had
2402	2402
2403	2403
2404	2404
2405	2405
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2412	2412	1 existed at the time of the original application for a
2413	2413	2 license, would have warranted the Secretary in refusing
2414	2414	3 its issuance; or
2415	2415	4 (4) any applicant has made any false statement or
2416	2416	5 representation to the Secretary in applying for a license
2417	2417	6 under this Act.
2418	2418	7 (b) In every case in which a license is suspended or
2419	2419	8 revoked or an application for a license or renewal of a license
2420	2420	9 is denied, the Secretary shall serve notice of his or her
2421	2421	10 action, including a statement of the reasons for his or her
2422	2422	11 actions, either personally, to the email address of record, or
2423	2423	12 by certified mail, return receipt requested. Service by mail
2424	2424	13 shall be deemed completed if the notice is deposited in the
2425	2425	14 United States mail U.S. Mail. Service to the email address of
2426	2426	15 record shall be deemed completed when sent.
2427	2427	16 (c) In the case of a denial of an application or renewal of
2428	2428	17 a license, the applicant or debt settlement provider may
2429	2429	18 request, in writing, a hearing within 30 days after the date of
2430	2430	19 service. In the case of a denial of a renewal of a license, the
2431	2431	20 license shall be deemed to continue in force until 30 days
2432	2432	21 after the service of the notice of denial, or if a hearing is
2433	2433	22 requested during that period, until a final administrative
2434	2434	23 order is entered.
2435	2435	24 (d) An order of revocation or suspension of a license
2436	2436	25 shall take effect upon service of the order unless the debt
2437	2437	26 settlement provider requests, in writing, a hearing within 10
2438	2438
2439	2439
2440	2440
2441	2441
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2444	2444
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2448	2448	1 days after the date of service. In the event a hearing is
2449	2449	2 requested, the order shall be stayed until a final
2450	2450	3 administrative order is entered.
2451	2451	4 (e) If the debt settlement provider requests a hearing,
2452	2452	5 then the Secretary shall schedule the hearing within 30 days
2453	2453	6 after the request for a hearing unless otherwise agreed to by
2454	2454	7 the parties.
2455	2455	8 (f) The hearing shall be held at the time and place
2456	2456	9 designated by the Secretary. The Secretary and any
2457	2457	10 administrative law judge designated by the Secretary have the
2458	2458	11 power to administer oaths and affirmations, subpoena witnesses
2459	2459	12 and compel their attendance, take evidence, and require the
2460	2460	13 production of books, papers, correspondence, and other records
2461	2461	14 or information that the Secretary considers relevant or
2462	2462	15 material to the injury.
2463	2463	16 (g) The costs for the administrative hearing shall be set
2464	2464	17 by rule.
2465	2465	18 (Source: P.A. 96-1420, eff. 8-3-10.)
2466	2466	19 (225 ILCS 429/80)
2467	2467	20 Sec. 80. Penalties.
2468	2468	21 (a) Any person who operates as a debt settlement provider
2469	2469	22 without a license shall be guilty of a Class 4 felony.
2470	2470	23 (b) Any contract of debt settlement service as defined in
2471	2471	24 this Act made by an unlicensed person shall be null and void
2472	2472	25 and of no legal effect.
2473	2473
2474	2474
2475	2475
2476	2476
2477	2477
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2479	2479
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2483	2483	1 (c) The Secretary may, after 10 days notice by certified
2484	2484	2 registered mail to the debt settlement service provider at the
2485	2485	3 address on the license or unlicensed entity engaging in the
2486	2486	4 debt settlement service business, or by email to the email
2487	2487	5 address of record, stating the contemplated action and in
2488	2488	6 general the grounds therefore, fine such debt settlement
2489	2489	7 service provider or unlicensed entity an amount not exceeding
2490	2490	8 $10,000 per violation, and revoke or suspend any license
2491	2491	9 issued hereunder if he or she finds that:
2492	2492	10 (1) The debt settlement service provider has failed to
2493	2493	11 comply with any provision of this Act or any order,
2494	2494	12 decision, finding, rule, regulation or direction of the
2495	2495	13 Secretary lawfully made pursuant to the authority of this
2496	2496	14 Act; or
2497	2497	15 (2) Any fact or condition exists which, if it had
2498	2498	16 existed at the time of the original application for the
2499	2499	17 license, clearly would have warranted the Secretary in
2500	2500	18 refusing to issue the license.
2501	2501	19 Service by certified mail shall be deemed completed when
2502	2502	20 the notice is deposited in the United States mail. Service to
2503	2503	21 the email address of record shall be deemed completed when
2504	2504	22 sent.
2505	2505	23 (Source: P.A. 96-1420, eff. 8-3-10.)
2506	2506	24 (225 ILCS 429/95)
2507	2507	25 Sec. 95. Cease and desist orders.
2508	2508
2509	2509
2510	2510
2511	2511
2512	2512
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2514	2514
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2518	2518	1 (a) The Secretary may issue a cease and desist order to any
2519	2519	2 debt settlement provider or other person doing business
2520	2520	3 without the required license when, in the opinion of the
2521	2521	4 Secretary, the debt settlement provider or other person is
2522	2522	5 violating or is about to violate any provision of the Act or
2523	2523	6 any rule or condition imposed in writing by the Department.
2524	2524	7 (b) The Secretary may issue a cease and desist order prior
2525	2525	8 to a hearing.
2526	2526	9 (c) The Secretary shall serve notice of his or her action,
2527	2527	10 including a statement of the reasons for his or her action
2528	2528	11 either personally, to the email address of record, or by
2529	2529	12 certified mail, return receipt requested. Service by mail
2530	2530	13 shall be deemed completed if the notice is deposited in the
2531	2531	14 United States mail U.S. Mail. Service to the email address of
2532	2532	15 record shall be deemed completed when sent.
2533	2533	16 (d) Within 10 days after service of the cease and desist
2534	2534	17 order, the licensee or other person may request, in writing, a
2535	2535	18 hearing.
2536	2536	19 (e) The Secretary shall schedule a hearing within 30 days
2537	2537	20 after the request for a hearing unless otherwise agreed to by
2538	2538	21 the parties.
2539	2539	22 (f) If it is determined that the Secretary had the
2540	2540	23 authority to issue the cease and desist order, then he or she
2541	2541	24 may issue such orders as may be reasonably necessary to
2542	2542	25 correct, eliminate, or remedy that conduct.
2543	2543	26 (g) The powers vested in the Secretary by this Section are
2544	2544
2545	2545
2546	2546
2547	2547
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2550	2550
2551	2551
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2554	2554	1 additional to any and all other powers and remedies vested in
2555	2555	2 the Secretary by law, and nothing in this Section shall be
2556	2556	3 construed as requiring that the Secretary shall employ the
2557	2557	4 power conferred in this Section instead of or as a condition
2558	2558	5 precedent to the exercise of any other power or remedy vested
2559	2559	6 in the Secretary.
2560	2560	7 (h) The cost for the administrative hearing shall be set
2561	2561	8 by rule.
2562	2562	9 (Source: P.A. 96-1420, eff. 8-3-10.)
2563	2563	10 Section 35. The Payday Loan Reform Act is amended by
2564	2564	11 changing Sections 1-10, 3-5, and 4-10 as follows:
2565	2565	12 (815 ILCS 122/1-10)
2566	2566	13 Sec. 1-10. Definitions. As used in this Act:
2567	2567	14 "Check" means a "negotiable instrument", as defined in
2568	2568	15 Article 3 of the Uniform Commercial Code, that is drawn on a
2569	2569	16 financial institution.
2570	2570	17 "Commercially reasonable method of verification" or
2571	2571	18 "certified database" means a consumer reporting service
2572	2572	19 database certified by the Department as effective in verifying
2573	2573	20 that a proposed loan agreement is permissible under this Act,
2574	2574	21 or, in the absence of the Department's certification, any
2575	2575	22 reasonably reliable written verification by the consumer
2576	2576	23 concerning (i) whether the consumer has any outstanding payday
2577	2577	24 loans, (ii) the principal amount of those outstanding payday
2578	2578
2579	2579
2580	2580
2581	2581
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2584	2584
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2588	2588	1 loans, and (iii) whether any payday loans have been paid in
2589	2589	2 full by the consumer in the preceding 7 days.
2590	2590	3 "Consumer" means any natural person who, singly or jointly
2591	2591	4 with another consumer, enters into a loan.
2592	2592	5 "Consumer reporting service" means an entity that provides
2593	2593	6 a database certified by the Department.
2594	2594	7 "Department" means the Department of Financial and
2595	2595	8 Professional Regulation.
2596	2596	9 "Director" means the Director of the Division of Financial
2597	2597	10 Institutions.
2598	2598	11 "Division of Financial Institutions" means the Division of
2599	2599	12 Financial Institutions of the Department of Financial and
2600	2600	13 Professional Regulation.
2601	2601	14 "Email address of record" means the designated email
2602	2602	15 address recorded by the Division of Financial Institutions in
2603	2603	16 the applicant's applicant file or the licensee's license file,
2604	2604	17 as maintained by the Division of Financial Institutions'
2605	2605	18 licensure unit.
2606	2606	19 "Secretary" means the Secretary of Financial and
2607	2607	20 Professional Regulation or a person authorized by the
2608	2608	21 Secretary to act in the Secretary's stead.
2609	2609	22 "Gross monthly income" means monthly income as
2610	2610	23 demonstrated by official documentation of the income,
2611	2611	24 including, but not limited to, a pay stub or a receipt
2612	2612	25 reflecting payment of government benefits, for the period 30
2613	2613	26 days prior to the date on which the loan is made.
2614	2614
2615	2615
2616	2616
2617	2617
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2620	2620
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2624	2624	1 "Lender" and "licensee" mean any person or entity,
2625	2625	2 including any affiliate or subsidiary of a lender or licensee,
2626	2626	3 that offers or makes a payday loan, buys a whole or partial
2627	2627	4 interest in a payday loan, arranges a payday loan for a third
2628	2628	5 party, or acts as an agent for a third party in making a payday
2629	2629	6 loan, regardless of whether approval, acceptance, or
2630	2630	7 ratification by the third party is necessary to create a legal
2631	2631	8 obligation for the third party, and includes any other person
2632	2632	9 or entity if the Department determines that the person or
2633	2633	10 entity is engaged in a transaction that is in substance a
2634	2634	11 disguised payday loan or a subterfuge for the purpose of
2635	2635	12 avoiding this Act.
2636	2636	13 "Loan agreement" means a written agreement between a
2637	2637	14 lender and consumer to make a loan to the consumer, regardless
2638	2638	15 of whether any loan proceeds are actually paid to the consumer
2639	2639	16 on the date on which the loan agreement is made.
2640	2640	17 "Member of the military" means a person serving in the
2641	2641	18 armed forces of the United States, the Illinois National
2642	2642	19 Guard, or any reserve component of the armed forces of the
2643	2643	20 United States. "Member of the military" includes those persons
2644	2644	21 engaged in (i) active duty, (ii) training or education under
2645	2645	22 the supervision of the United States preliminary to induction
2646	2646	23 into military service, or (iii) a period of active duty with
2647	2647	24 the State of Illinois under Title 10 or Title 32 of the United
2648	2648	25 States Code pursuant to order of the President or the Governor
2649	2649	26 of the State of Illinois.
2650	2650
2651	2651
2652	2652
2653	2653
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2656	2656
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2660	2660	1 "Outstanding balance" means the total amount owed by the
2661	2661	2 consumer on a loan to a lender, including all principal,
2662	2662	3 finance charges, fees, and charges of every kind.
2663	2663	4 "Payday loan" or "loan" means a loan with a term that does
2664	2664	5 not exceed 120 days, including any transaction conducted via
2665	2665	6 any medium whatsoever, including, but not limited to, paper,
2666	2666	7 facsimile, Internet, or telephone, in which:
2667	2667	8 (1) A lender accepts one or more checks dated on the
2668	2668	9 date written and agrees to hold them for a period of days
2669	2669	10 before deposit or presentment, or accepts one or more
2670	2670	11 checks dated subsequent to the date written and agrees to
2671	2671	12 hold them for deposit; or
2672	2672	13 (2) A lender accepts one or more authorizations to
2673	2673	14 debit a consumer's bank account; or
2674	2674	15 (3) A lender accepts an interest in a consumer's
2675	2675	16 wages, including, but not limited to, a wage assignment.
2676	2676	17 "Principal amount" means the amount received by the
2677	2677	18 consumer from the lender due and owing on a loan, excluding any
2678	2678	19 finance charges, interest, fees, or other loan-related
2679	2679	20 charges.
2680	2680	21 "Rollover" means to refinance, renew, amend, or extend a
2681	2681	22 loan beyond its original term.
2682	2682	23 (Source: P.A. 101-658, eff. 3-23-21.)
2683	2683	24 (815 ILCS 122/3-5)
2684	2684	25 Sec. 3-5. Licensure.
2685	2685
2686	2686
2687	2687
2688	2688
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2691	2691
2692	2692
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2695	2695	1 (a) A license to make a payday loan shall state the
2696	2696	2 address, including city and state, at which the business is to
2697	2697	3 be conducted and shall state fully the name of the licensee.
2698	2698	4 The license shall be conspicuously posted in the place of
2699	2699	5 business of the licensee and shall not be transferable or
2700	2700	6 assignable.
2701	2701	7 (b) An application for a license shall be in writing and in
2702	2702	8 a form prescribed by the Secretary. Each applicant shall
2703	2703	9 provide an email address of record. The Secretary may not
2704	2704	10 issue a payday loan license unless and until the following
2705	2705	11 findings are made:
2706	2706	12 (1) that the financial responsibility, experience,
2707	2707	13 character, and general fitness of the applicant are such
2708	2708	14 as to command the confidence of the public and to warrant
2709	2709	15 the belief that the business will be operated lawfully and
2710	2710	16 fairly and within the provisions and purposes of this Act;
2711	2711	17 and
2712	2712	18 (2) that the applicant has submitted such other
2713	2713	19 information as the Secretary may deem necessary.
2714	2714	20 (c) A license shall be issued for no longer than one year,
2715	2715	21 and no renewal of a license may be provided if a licensee has
2716	2716	22 substantially violated this Act and has not cured the
2717	2717	23 violation to the satisfaction of the Department.
2718	2718	24 (d) A licensee shall appoint, in writing, the Secretary as
2719	2719	25 attorney-in-fact upon whom all lawful process against the
2720	2720	26 licensee may be served with the same legal force and validity
2721	2721
2722	2722
2723	2723
2724	2724
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2727	2727
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2731	2731	1 as if served on the licensee. A copy of the written
2732	2732	2 appointment, duly certified, shall be filed in the office of
2733	2733	3 the Secretary, and a copy thereof certified by the Secretary
2734	2734	4 shall be sufficient evidence to subject a licensee to
2735	2735	5 jurisdiction in a court of law. This appointment shall remain
2736	2736	6 in effect while any liability remains outstanding in this
2737	2737	7 State against the licensee. When summons is served upon the
2738	2738	8 Secretary as attorney-in-fact for a licensee, the Secretary
2739	2739	9 shall immediately notify the licensee by certified registered
2740	2740	10 mail, return receipt requested, or to the email address of
2741	2741	11 record, enclosing the summons and specifying the hour and day
2742	2742	12 of service. Service by certified mail shall be deemed
2743	2743	13 completed when the notice is deposited in the United States
2744	2744	14 mail. Service to the email address of record shall be deemed
2745	2745	15 completed when sent.
2746	2746	16 (e) A licensee must pay an annual fee of $1,000. In
2747	2747	17 addition to the license fee, the reasonable expense of any
2748	2748	18 examination or hearing by the Secretary under any provisions
2749	2749	19 of this Act shall be borne by the licensee. If a licensee fails
2750	2750	20 to renew its license by December 1, its license shall
2751	2751	21 automatically expire; however, the Secretary, in his or her
2752	2752	22 discretion, may reinstate an expired license upon:
2753	2753	23 (1) payment of the annual fee within 30 days of the
2754	2754	24 date of expiration; and
2755	2755	25 (2) proof of good cause for failure to renew.
2756	2756	26 (f) Not more than one place of business shall be
2757	2757
2758	2758
2759	2759
2760	2760
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2763	2763
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2767	2767	1 maintained under the same license, but the Secretary may issue
2768	2768	2 more than one license to the same licensee upon compliance
2769	2769	3 with all the provisions of this Act governing issuance of a
2770	2770	4 single license. The location, except those locations already
2771	2771	5 in existence as of June 1, 2005, may not be within one mile of
2772	2772	6 a horse race track subject to the Illinois Horse Racing Act of
2773	2773	7 1975, within one mile of a facility at which gambling is
2774	2774	8 conducted under the Illinois Gambling Act, within one mile of
2775	2775	9 the location at which a riverboat subject to the Illinois
2776	2776	10 Gambling Act docks, or within one mile of any State of Illinois
2777	2777	11 or United States military base or naval installation.
2778	2778	12 (g) No licensee shall conduct the business of making loans
2779	2779	13 under this Act within any office, suite, room, or place of
2780	2780	14 business in which (1) any loans are offered or made under the
2781	2781	15 Consumer Installment Loan Act other than title secured loans
2782	2782	16 as defined in subsection (a) of Section 15 of the Consumer
2783	2783	17 Installment Loan Act and governed by Title 38, Section 110.330
2784	2784	18 of the Illinois Administrative Code or (2) any other business
2785	2785	19 is solicited or engaged in unless the other business is
2786	2786	20 licensed by the Department or, in the opinion of the
2787	2787	21 Secretary, the other business would not be contrary to the
2788	2788	22 best interests of consumers and is authorized by the Secretary
2789	2789	23 in writing.
2790	2790	24 (g-5) Notwithstanding subsection (g) of this Section, a
2791	2791	25 licensee may obtain a license under the Consumer Installment
2792	2792	26 Loan Act (CILA) for the exclusive purpose and use of making
2793	2793
2794	2794
2795	2795
2796	2796
2797	2797
2798	2798	HB3693 - 78 - LRB103 28809 BMS 55194 b
2799	2799
2800	2800
2801	2801	HB3693- 79 -LRB103 28809 BMS 55194 b HB3693 - 79 - LRB103 28809 BMS 55194 b
2802	2802	HB3693 - 79 - LRB103 28809 BMS 55194 b
2803	2803	1 title secured loans, as defined in subsection (a) of Section
2804	2804	2 15 of CILA and governed by Title 38, Section 110.300 of the
2805	2805	3 Illinois Administrative Code. A licensee may continue to
2806	2806	4 service Consumer Installment Loan Act loans that were
2807	2807	5 outstanding as of the effective date of this amendatory Act of
2808	2808	6 the 96th General Assembly.
2809	2809	7 (h) The Secretary shall maintain a list of licensees that
2810	2810	8 shall be available to interested consumers and lenders and the
2811	2811	9 public. The Secretary shall maintain a toll-free number
2812	2812	10 whereby consumers may obtain information about licensees. The
2813	2813	11 Secretary shall also establish a complaint process under which
2814	2814	12 an aggrieved consumer may file a complaint against a licensee
2815	2815	13 or non-licensee who violates any provision of this Act.
2816	2816	14 (Source: P.A. 100-958, eff. 8-19-18; 101-31, eff. 6-28-19.)
2817	2817	15 (815 ILCS 122/4-10)
2818	2818	16 Sec. 4-10. Enforcement and remedies.
2819	2819	17 (a) The remedies provided in this Act are cumulative and
2820	2820	18 apply to persons or entities subject to this Act.
2821	2821	19 (b) Any material violation of this Act, including the
2822	2822	20 commission of an act prohibited under Section 4-5, constitutes
2823	2823	21 a violation of the Consumer Fraud and Deceptive Business
2824	2824	22 Practices Act.
2825	2825	23 (c) If any provision of the written agreement described in
2826	2826	24 subsection (b) of Section 2-20 violates this Act, then that
2827	2827	25 provision is unenforceable against the consumer.
2828	2828
2829	2829
2830	2830
2831	2831
2832	2832
2833	2833	HB3693 - 79 - LRB103 28809 BMS 55194 b
2834	2834
2835	2835
2836	2836	HB3693- 80 -LRB103 28809 BMS 55194 b HB3693 - 80 - LRB103 28809 BMS 55194 b
2837	2837	HB3693 - 80 - LRB103 28809 BMS 55194 b
2838	2838	1 (d) Subject to the Illinois Administrative Procedure Act,
2839	2839	2 the Secretary may hold hearings, make findings of fact,
2840	2840	3 conclusions of law, issue cease and desist orders, have the
2841	2841	4 power to issue fines of up to $10,000 per violation, refer the
2842	2842	5 matter to the appropriate law enforcement agency for
2843	2843	6 prosecution under this Act, and suspend or revoke a license
2844	2844	7 granted under this Act. All proceedings shall be open to the
2845	2845	8 public.
2846	2846	9 (e) The Secretary may issue a cease and desist order to any
2847	2847	10 licensee or other person doing business without the required
2848	2848	11 license, when in the opinion of the Secretary the licensee or
2849	2849	12 other person is violating or is about to violate any provision
2850	2850	13 of this Act or any rule or requirement imposed in writing by
2851	2851	14 the Department as a condition of granting any authorization
2852	2852	15 permitted by this Act. The cease and desist order permitted by
2853	2853	16 this subsection (e) may be issued prior to a hearing.
2854	2854	17 The Secretary shall serve notice of his or her action,
2855	2855	18 including, but not limited to, a statement of the reasons for
2856	2856	19 the action, either personally, to the email address of record,
2857	2857	20 or by certified mail, return receipt requested. Service by
2858	2858	21 certified mail shall be deemed completed when the notice is
2859	2859	22 deposited in the United States mail U.S. Mail. Service to the
2860	2860	23 email address of record shall be deemed completed when sent.
2861	2861	24 Within 10 days of service of the cease and desist order,
2862	2862	25 the licensee or other person may request a hearing in writing.
2863	2863	26 The Secretary shall schedule a hearing within 30 days after
2864	2864
2865	2865
2866	2866
2867	2867
2868	2868
2869	2869	HB3693 - 80 - LRB103 28809 BMS 55194 b
2870	2870
2871	2871
2872	2872	HB3693- 81 -LRB103 28809 BMS 55194 b HB3693 - 81 - LRB103 28809 BMS 55194 b
2873	2873	HB3693 - 81 - LRB103 28809 BMS 55194 b
2874	2874	1 the request for a hearing unless otherwise agreed to by the
2875	2875	2 parties.
2876	2876	3 If it is determined that the Secretary had the authority
2877	2877	4 to issue the cease and desist order, he or she may issue such
2878	2878	5 orders as may be reasonably necessary to correct, eliminate,
2879	2879	6 or remedy the conduct.
2880	2880	7 The powers vested in the Secretary by this subsection (e)
2881	2881	8 are additional to any and all other powers and remedies vested
2882	2882	9 in the Secretary by law, and nothing in this subsection (e)
2883	2883	10 shall be construed as requiring that the Secretary shall
2884	2884	11 employ the power conferred in this subsection instead of or as
2885	2885	12 a condition precedent to the exercise of any other power or
2886	2886	13 remedy vested in the Secretary.
2887	2887	14 (f) The Secretary may, after 10 days notice by certified
2888	2888	15 registered mail to the licensee at the address set forth in the
2889	2889	16 license, or by email to the email address of record, stating
2890	2890	17 the contemplated action and in general the grounds therefore,
2891	2891	18 fine the licensee an amount not exceeding $10,000 per
2892	2892	19 violation, or revoke or suspend any license issued hereunder
2893	2893	20 if he or she finds that:
2894	2894	21 (1) the licensee has failed to comply with any
2895	2895	22 provision of this Act or any order, decision, finding,
2896	2896	23 rule, regulation, or direction of the Secretary lawfully
2897	2897	24 made pursuant to the authority of this Act; or
2898	2898	25 (2) any fact or condition exists which, if it had
2899	2899	26 existed at the time of the original application for the
2900	2900
2901	2901
2902	2902
2903	2903
2904	2904
2905	2905	HB3693 - 81 - LRB103 28809 BMS 55194 b
2906	2906
2907	2907
2908	2908	HB3693- 82 -LRB103 28809 BMS 55194 b HB3693 - 82 - LRB103 28809 BMS 55194 b
2909	2909	HB3693 - 82 - LRB103 28809 BMS 55194 b
2910	2910	1 license, clearly would have warranted the Secretary in
2911	2911	2 refusing to issue the license.
2912	2912	3 The Secretary may fine, suspend, or revoke only the
2913	2913	4 particular license with respect to which grounds for the fine,
2914	2914	5 revocation, or suspension occur or exist, but if the Secretary
2915	2915	6 finds that grounds for revocation are of general application
2916	2916	7 to all offices or to more than one office of the licensee, the
2917	2917	8 Secretary shall fine, suspend, or revoke every license to
2918	2918	9 which the grounds apply.
2919	2919	10 The Department shall establish by rule and publish a
2920	2920	11 schedule of fines that are reasonably tailored to ensure
2921	2921	12 compliance with the provisions of this Act and which include
2922	2922	13 remedial measures intended to improve licensee compliance.
2923	2923	14 Such rules shall set forth the standards and procedures to be
2924	2924	15 used in imposing any such fines and remedies.
2925	2925	16 No revocation, suspension, or surrender of any license
2926	2926	17 shall impair or affect the obligation of any pre-existing
2927	2927	18 lawful contract between the licensee and any obligor.
2928	2928	19 The Secretary may issue a new license to a licensee whose
2929	2929	20 license has been revoked when facts or conditions which
2930	2930	21 clearly would have warranted the Secretary in refusing
2931	2931	22 originally to issue the license no longer exist.
2932	2932	23 In every case in which a license is suspended or revoked or
2933	2933	24 an application for a license or renewal of a license is denied,
2934	2934	25 the Secretary shall serve the licensee with notice of his or
2935	2935	26 her action, including a statement of the reasons for his or her
2936	2936
2937	2937
2938	2938
2939	2939
2940	2940
2941	2941	HB3693 - 82 - LRB103 28809 BMS 55194 b
2942	2942
2943	2943
2944	2944	HB3693- 83 -LRB103 28809 BMS 55194 b HB3693 - 83 - LRB103 28809 BMS 55194 b
2945	2945	HB3693 - 83 - LRB103 28809 BMS 55194 b
2946	2946	1 actions, either personally, to the email address of record, or
2947	2947	2 by certified mail, return receipt requested. Service by
2948	2948	3 certified mail shall be deemed completed when the notice is
2949	2949	4 deposited in the United States mail U.S. Mail. Service to the
2950	2950	5 email address of record shall be deemed completed when sent.
2951	2951	6 An order assessing a fine, an order revoking or suspending
2952	2952	7 a license, or an order denying renewal of a license shall take
2953	2953	8 effect upon service of the order unless the licensee requests
2954	2954	9 a hearing, in writing, within 10 days after the date of
2955	2955	10 service. In the event a hearing is requested, the order shall
2956	2956	11 be stayed until a final administrative order is entered.
2957	2957	12 If the licensee requests a hearing, the Secretary shall
2958	2958	13 schedule a hearing within 30 days after the request for a
2959	2959	14 hearing unless otherwise agreed to by the parties.
2960	2960	15 The hearing shall be held at the time and place designated
2961	2961	16 by the Secretary. The Secretary and any administrative law
2962	2962	17 judge designated by him or her shall have the power to
2963	2963	18 administer oaths and affirmations, subpoena witnesses and
2964	2964	19 compel their attendance, take evidence, and require the
2965	2965	20 production of books, papers, correspondence, and other records
2966	2966	21 or information that he or she considers relevant or material
2967	2967	22 to the inquiry.
2968	2968	23 (g) The costs of administrative hearings conducted
2969	2969	24 pursuant to this Section shall be paid by the licensee.
2970	2970	25 (h) Notwithstanding any other provision of this Section,
2971	2971	26 if a lender who does not have a license issued under this Act
2972	2972
2973	2973
2974	2974
2975	2975
2976	2976
2977	2977	HB3693 - 83 - LRB103 28809 BMS 55194 b
2978	2978
2979	2979
2980	2980	HB3693- 84 -LRB103 28809 BMS 55194 b HB3693 - 84 - LRB103 28809 BMS 55194 b
2981	2981	HB3693 - 84 - LRB103 28809 BMS 55194 b
2982	2982	1 makes a loan pursuant to this Act to an Illinois consumer, then
2983	2983	2 the loan shall be null and void and the lender who made the
2984	2984	3 loan shall have no right to collect, receive, or retain any
2985	2985	4 principal, interest, or charges related to the loan.
2986	2986	5 (Source: P.A. 97-1039, eff. 1-1-13; 98-209, eff. 1-1-14.)
2987	2987	HB3693- 85 -LRB103 28809 BMS 55194 b 1 INDEX 2 Statutes amended in order of appearance 3 205 ILCS 305/1.1from Ch. 17, par. 4402 4 205 ILCS 305/2from Ch. 17, par. 4403 5 205 ILCS 305/8from Ch. 17, par. 4409 6 205 ILCS 305/21from Ch. 17, par. 4422 7 205 ILCS 305/61from Ch. 17, par. 4462 8 205 ILCS 657/5 9 205 ILCS 657/25 10 205 ILCS 657/40 11 205 ILCS 657/80 12 205 ILCS 657/90 13 205 ILCS 657/100 14 205 ILCS 660/2from Ch. 17, par. 5202 15 205 ILCS 660/6from Ch. 17, par. 5206 16 205 ILCS 660/10from Ch. 17, par. 5223 17 205 ILCS 660/16.5 18 205 ILCS 665/2from Ch. 17, par. 5302 19 205 ILCS 665/4from Ch. 17, par. 5304 20 205 ILCS 665/10from Ch. 17, par. 5310 21 205 ILCS 665/20from Ch. 17, par. 5323 22 205 ILCS 670/0.5 new 23 205 ILCS 670/2from Ch. 17, par. 5402 24 205 ILCS 670/3from Ch. 17, par. 5403 25 205 ILCS 670/8from Ch. 17, par. 5408 HB3693- 86 -LRB103 28809 BMS 55194 b HB3693- 85 -LRB103 28809 BMS 55194 b HB3693 - 85 - LRB103 28809 BMS 55194 b 1 INDEX 2 Statutes amended in order of appearance 3 205 ILCS 305/1.1 from Ch. 17, par. 4402 4 205 ILCS 305/2 from Ch. 17, par. 4403 5 205 ILCS 305/8 from Ch. 17, par. 4409 6 205 ILCS 305/21 from Ch. 17, par. 4422 7 205 ILCS 305/61 from Ch. 17, par. 4462 8 205 ILCS 657/5 9 205 ILCS 657/25 10 205 ILCS 657/40 11 205 ILCS 657/80 12 205 ILCS 657/90 13 205 ILCS 657/100 14 205 ILCS 660/2 from Ch. 17, par. 5202 15 205 ILCS 660/6 from Ch. 17, par. 5206 16 205 ILCS 660/10 from Ch. 17, par. 5223 17 205 ILCS 660/16.5 18 205 ILCS 665/2 from Ch. 17, par. 5302 19 205 ILCS 665/4 from Ch. 17, par. 5304 20 205 ILCS 665/10 from Ch. 17, par. 5310 21 205 ILCS 665/20 from Ch. 17, par. 5323 22 205 ILCS 670/0.5 new 23 205 ILCS 670/2 from Ch. 17, par. 5402 24 205 ILCS 670/3 from Ch. 17, par. 5403 25 205 ILCS 670/8 from Ch. 17, par. 5408 HB3693- 86 -LRB103 28809 BMS 55194 b HB3693 - 86 - LRB103 28809 BMS 55194 b
2988	2988	HB3693- 85 -LRB103 28809 BMS 55194 b HB3693 - 85 - LRB103 28809 BMS 55194 b
2989	2989	HB3693 - 85 - LRB103 28809 BMS 55194 b
2990	2990	1 INDEX
2991	2991	2 Statutes amended in order of appearance
2992	2992	3 205 ILCS 305/1.1 from Ch. 17, par. 4402
2993	2993	4 205 ILCS 305/2 from Ch. 17, par. 4403
2994	2994	5 205 ILCS 305/8 from Ch. 17, par. 4409
2995	2995	6 205 ILCS 305/21 from Ch. 17, par. 4422
2996	2996	7 205 ILCS 305/61 from Ch. 17, par. 4462
2997	2997	8 205 ILCS 657/5
2998	2998	9 205 ILCS 657/25
2999	2999	10 205 ILCS 657/40
3000	3000	11 205 ILCS 657/80
3001	3001	12 205 ILCS 657/90
3002	3002	13 205 ILCS 657/100
3003	3003	14 205 ILCS 660/2 from Ch. 17, par. 5202
3004	3004	15 205 ILCS 660/6 from Ch. 17, par. 5206
3005	3005	16 205 ILCS 660/10 from Ch. 17, par. 5223
3006	3006	17 205 ILCS 660/16.5
3007	3007	18 205 ILCS 665/2 from Ch. 17, par. 5302
3008	3008	19 205 ILCS 665/4 from Ch. 17, par. 5304
3009	3009	20 205 ILCS 665/10 from Ch. 17, par. 5310
3010	3010	21 205 ILCS 665/20 from Ch. 17, par. 5323
3011	3011	22 205 ILCS 670/0.5 new
3012	3012	23 205 ILCS 670/2 from Ch. 17, par. 5402
3013	3013	24 205 ILCS 670/3 from Ch. 17, par. 5403
3014	3014	25 205 ILCS 670/8 from Ch. 17, par. 5408
3015	3015	HB3693- 86 -LRB103 28809 BMS 55194 b HB3693 - 86 - LRB103 28809 BMS 55194 b
3016	3016	HB3693 - 86 - LRB103 28809 BMS 55194 b
3017	3017
3018	3018
3019	3019
3020	3020
3021	3021
3022	3022	HB3693 - 84 - LRB103 28809 BMS 55194 b
3023	3023
3024	3024
3025	3025
3026	3026	HB3693- 85 -LRB103 28809 BMS 55194 b HB3693 - 85 - LRB103 28809 BMS 55194 b
3027	3027	HB3693 - 85 - LRB103 28809 BMS 55194 b
3028	3028	1 INDEX
3029	3029	2 Statutes amended in order of appearance
3030	3030	3 205 ILCS 305/1.1 from Ch. 17, par. 4402
3031	3031	4 205 ILCS 305/2 from Ch. 17, par. 4403
3032	3032	5 205 ILCS 305/8 from Ch. 17, par. 4409
3033	3033	6 205 ILCS 305/21 from Ch. 17, par. 4422
3034	3034	7 205 ILCS 305/61 from Ch. 17, par. 4462
3035	3035	8 205 ILCS 657/5
3036	3036	9 205 ILCS 657/25
3037	3037	10 205 ILCS 657/40
3038	3038	11 205 ILCS 657/80
3039	3039	12 205 ILCS 657/90
3040	3040	13 205 ILCS 657/100
3041	3041	14 205 ILCS 660/2 from Ch. 17, par. 5202
3042	3042	15 205 ILCS 660/6 from Ch. 17, par. 5206
3043	3043	16 205 ILCS 660/10 from Ch. 17, par. 5223
3044	3044	17 205 ILCS 660/16.5
3045	3045	18 205 ILCS 665/2 from Ch. 17, par. 5302
3046	3046	19 205 ILCS 665/4 from Ch. 17, par. 5304
3047	3047	20 205 ILCS 665/10 from Ch. 17, par. 5310
3048	3048	21 205 ILCS 665/20 from Ch. 17, par. 5323
3049	3049	22 205 ILCS 670/0.5 new
3050	3050	23 205 ILCS 670/2 from Ch. 17, par. 5402
3051	3051	24 205 ILCS 670/3 from Ch. 17, par. 5403
3052	3052	25 205 ILCS 670/8 from Ch. 17, par. 5408
3053	3053
3054	3054
3055	3055
3056	3056
3057	3057
3058	3058	HB3693 - 85 - LRB103 28809 BMS 55194 b
3059	3059
3060	3060
3061	3061	HB3693- 86 -LRB103 28809 BMS 55194 b HB3693 - 86 - LRB103 28809 BMS 55194 b
3062	3062	HB3693 - 86 - LRB103 28809 BMS 55194 b
3063	3063
3064	3064
3065	3065
3066	3066
3067	3067
3068	3068	HB3693 - 86 - LRB103 28809 BMS 55194 b