Bill Text: IL SB0627 | 2013-2014 | 98th General Assembly | Amended
Bill Title: Amends the Cable and Video Competition Law of 2007 in the Public Utilities Act. Makes a technical change in a Section concerning the short title of the Article.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2015-01-13 - Session Sine Die [SB0627 Detail]
Download: Illinois-2013-SB0627-Amended.html
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1 | AMENDMENT TO SENATE BILL 627
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2 | AMENDMENT NO. ______. Amend Senate Bill 627 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Currency Exchange Act is amended by | ||||||
5 | changing Sections 3, 4, 4.1, 5, 9, 11, 13, 13.1, 15, and 15.1 | ||||||
6 | and by adding Sections 4.1b and 9.5 as follows:
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7 | (205 ILCS 405/3) (from Ch. 17, par. 4804)
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8 | Sec. 3. Powers of community currency exchanges. No | ||||||
9 | community or
ambulatory currency exchange shall be
permitted to | ||||||
10 | accept money or evidences of money as a deposit to be
returned | ||||||
11 | to the depositor or upon the depositor's order. No
community or | ||||||
12 | ambulatory currency exchange shall be permitted to act as
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13 | bailee or agent for persons, firms, partnerships, limited | ||||||
14 | liability
companies, associations or
corporations to hold | ||||||
15 | money or evidences thereof or the proceeds
therefrom for the | ||||||
16 | use and benefit of the owners thereof, and deliver
such money |
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1 | or proceeds of evidence of money upon request and direction
of | ||||||
2 | such owner or owners. A community or ambulatory currency | ||||||
3 | exchange is permitted to engage in, and charge a fee for, the | ||||||
4 | following activities, either directly or as a third-party | ||||||
5 | agent: (i) cashing of checks, drafts, money orders, or any | ||||||
6 | other evidences of money acceptable to the currency exchange, | ||||||
7 | (ii) selling or issuing money orders, (iii) obtaining reports, | ||||||
8 | certificates, governmental permits, licenses, and vital | ||||||
9 | statistics and the preparation of necessary applications to | ||||||
10 | obtain the same, (iv) the sale and distribution of bond cards, | ||||||
11 | (v) obtaining, distributing, providing, or selling: State | ||||||
12 | vehicle registration renewals, title transfers and tax | ||||||
13 | remittance forms, city vehicle licenses, and other | ||||||
14 | governmental services, (vi) photocopying and sending and | ||||||
15 | receiving facsimile transmissions, (vii) notary service either | ||||||
16 | by the proprietor of the currency exchange or any currency | ||||||
17 | exchange employee, authorized by the State to act as a notary | ||||||
18 | public, (viii) issuance of travelers checks obtained by the | ||||||
19 | currency exchange from a banking institution under a trust | ||||||
20 | receipt, (ix) accepting for payment utility and other | ||||||
21 | companies' bills, (x) issuance and acceptance of any | ||||||
22 | third-party debit, credit, or stored value card and loading or | ||||||
23 | unloading, (xi) on-premises automated cash dispensing | ||||||
24 | machines, (xii) sale of rolled coin and paper money, (xiii) | ||||||
25 | exchange of foreign currency through a third-party, (xiv) sale | ||||||
26 | of cards, passes, or tokens for public transit, (xv) providing |
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1 | mail box service, (xvi) preparation and transmittal of consumer | ||||||
2 | requests and applications for and the sale of prepaid wireless | ||||||
3 | phones, phone cards , and other pre-paid telecommunication | ||||||
4 | services, (xvii) on-premises public telephone, (xviii) sale of | ||||||
5 | U.S. postage, (xix) money transmission through a licensed | ||||||
6 | third-party money transmitter, (xx) sale of candy, gum, other | ||||||
7 | packaged foods, soft drinks, and other products and services by | ||||||
8 | means of on-premises vending machines, and (xxi) preparation | ||||||
9 | and transmittal of consumer requests and applications for the | ||||||
10 | delivery, supply, or service of any utility product, service, | ||||||
11 | or company lawfully offered in the State of Illinois, (xxii) | ||||||
12 | advertising upon and about the premises and distribution to | ||||||
13 | consumers of advertising and other materials or any legal | ||||||
14 | product or service that is not misleading to the public, and | ||||||
15 | (xxiii) any other products or and services that are consistent | ||||||
16 | with the provisions of this Act, are within its meaning, are in | ||||||
17 | the best interest of the public, and benefit the general | ||||||
18 | welfare. For the purposes of this Section, an activity, | ||||||
19 | product, or service is consistent with the provisions of this | ||||||
20 | Act, within its meaning, in the best interest of the public, | ||||||
21 | and benefits the general welfare if it is a lawful activity, | ||||||
22 | product, or service, but not if it involves the sale or | ||||||
23 | purchase of alcohol, firearms, lottery tickets, pornographic | ||||||
24 | materials, medication, or tobacco or if it involves payday | ||||||
25 | loans, consumer installment loans, car loans, or video gaming | ||||||
26 | as provided in the Video Gaming Act. as may be approved by the |
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1 | Secretary.
Any community or ambulatory currency exchange may | ||||||
2 | enter into
agreements with any utility and other companies to | ||||||
3 | act as the companies'
agent for the acceptance of payment of | ||||||
4 | utility and other
companies' bills without charge
to the | ||||||
5 | customer and,
acting under such agreement, may receipt for | ||||||
6 | payments in the
names of the utility and other companies. Any | ||||||
7 | community or
ambulatory currency exchange may also receive | ||||||
8 | payment of
utility and other companies' bills for remittance to | ||||||
9 | companies
with which it has no such agency agreement and may | ||||||
10 | charge a fee
for such service but may not, in such cases, issue | ||||||
11 | a receipt for such
payment in the names of the utility and | ||||||
12 | other companies.
However, funds received by currency exchanges | ||||||
13 | for remittance
to utility and other companies with which the | ||||||
14 | currency exchange
has no agency agreement shall be forwarded to | ||||||
15 | the appropriate
utility and other companies by the currency | ||||||
16 | exchange before the
end of the next business day. | ||||||
17 | For the purpose of this Section, "utility and other | ||||||
18 | companies" means any utility company and other company with | ||||||
19 | which the currency exchange may or may not have a contractual | ||||||
20 | agreement and for which the currency exchange accepts payments | ||||||
21 | from consumers for remittance to the utility or other company | ||||||
22 | for the payment of bills.
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23 | Nothing in this Section authorizes a licensee to engage in | ||||||
24 | any activity regulated by any federal, State, or local | ||||||
25 | governmental authority without first obtaining the necessary | ||||||
26 | license or permit to engage in that activity. |
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1 | (Source: P.A. 97-315, eff. 1-1-12.)
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2 | (205 ILCS 405/4) (from Ch. 17, par. 4808)
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3 | Sec. 4. License application; contents; fees. Application | ||||||
4 | for such
license shall be in writing under oath and in
the form | ||||||
5 | prescribed and furnished by the Secretary. Each application | ||||||
6 | shall
contain the following:
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7 | (a) The full name and address (both of residence and | ||||||
8 | place of business)
of the applicant, and if the applicant | ||||||
9 | is a partnership, limited liability
company, or | ||||||
10 | association, of
every member thereof, and the name and | ||||||
11 | business address if the applicant is
a corporation;
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12 | (b) The county and municipality, with street and | ||||||
13 | number, if any, where
the community currency exchange is to | ||||||
14 | be conducted, if the application is
for a community | ||||||
15 | currency exchange license;
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16 | (c) If the application is for an ambulatory currency | ||||||
17 | exchange license,
the name and address of the employer at | ||||||
18 | each location to be served by it;
and
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19 | (d) The applicant's occupation or profession; a | ||||||
20 | detailed statement of the applicant's
business experience | ||||||
21 | for the 10 years immediately preceding the
application; a | ||||||
22 | detailed statement of the applicant's finances; the | ||||||
23 | applicant's present or previous
connection with any other | ||||||
24 | currency exchange; whether the applicant has ever been
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25 | involved in any civil or criminal litigation, and the |
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1 | material facts
pertaining thereto; whether the applicant | ||||||
2 | has ever been committed to any penal
institution or | ||||||
3 | admitted to an institution for the care and treatment of
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4 | mentally ill persons; and the nature of applicant's | ||||||
5 | occupancy of the
premises to be licensed where the | ||||||
6 | application is for a community currency
exchange license. | ||||||
7 | If the applicant is a partnership, the information
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8 | specified herein shall be required of each partner. If the | ||||||
9 | applicant is a
corporation, the said information shall be | ||||||
10 | required of each officer,
director and stockholder thereof | ||||||
11 | along with disclosure of their ownership
interests.
If the | ||||||
12 | applicant is a limited liability company, the information | ||||||
13 | required by
this Section shall be provided with respect to | ||||||
14 | each member and manager along
with disclosure of their | ||||||
15 | ownership interests.
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16 | A community currency exchange license application shall be
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17 | accompanied by a fee of $500, prior to January 1, 2012. After | ||||||
18 | January 1, 2012 the fee shall be $750. After January 1, 2014 | ||||||
19 | the fee shall be $1,000 for the cost of investigating the | ||||||
20 | applicant. If the ownership of a
licensee changes, in whole or | ||||||
21 | in part, a new application must be filed pursuant
to this | ||||||
22 | Section along with a $500 fee if the licensee's ownership | ||||||
23 | interests
have been transferred
or sold to a new person or | ||||||
24 | entity or a fee of $300 if the licensee's
ownership interests | ||||||
25 | have been transferred or sold to a current holder or
holders of | ||||||
26 | the licensee's ownership interests.
When the application for a
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1 | community currency exchange license has been approved by the | ||||||
2 | Secretary and
the applicant so advised, an additional sum of
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3 | $400 as an annual license
fee for a period terminating on the | ||||||
4 | last day of the current calendar year
shall be paid to the | ||||||
5 | Secretary by the applicant; provided, that the license
fee for | ||||||
6 | an applicant applying for such a license after July 1st of any | ||||||
7 | year
shall be $200 for the balance of such year. Upon receipt
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8 | of a community currency exchange license application, the
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9 | Secretary shall examine the application for completeness and
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10 | notify the applicant in writing of any defect within 20 days | ||||||
11 | after
receipt. The applicant must remedy the defect within 10 | ||||||
12 | days after the mailing of the notification of the defect by the | ||||||
13 | Secretary ; provided, however, that in such case an applicant | ||||||
14 | may request a reasonable extension of time that shall not be | ||||||
15 | unreasonably denied . Failure to timely remedy the defect will | ||||||
16 | void the application. Unless material to the investigation, no | ||||||
17 | deficiency shall delay the investigation, and, in the event of | ||||||
18 | a delay, the applicant shall be notified of the delay. Once the | ||||||
19 | Secretary determines that the application is complete, the | ||||||
20 | Secretary shall have 90 business days to approve or deny the | ||||||
21 | application. If
the application is denied, the Secretary shall | ||||||
22 | send by United
States mail notice of the denial to the | ||||||
23 | applicant at the
address set forth in the application. If an | ||||||
24 | application is
denied, the applicant may, within 10 days after | ||||||
25 | the date of the
notice of denial, make a written request to the | ||||||
26 | Secretary for a
hearing on the application. The hearing shall |
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1 | be set for a date after the receipt by the Secretary of the | ||||||
2 | request for a hearing, and written notice of the time and place | ||||||
3 | of the hearing shall be mailed to the applicant no later than | ||||||
4 | 15 days before the date of the hearing. The hearing shall be | ||||||
5 | scheduled for a date within 56 days after the date of the | ||||||
6 | receipt of the request for a hearing. The applicant shall pay | ||||||
7 | the actual cost of
making the transcript of the hearing prior | ||||||
8 | to the Secretary's
issuing his or her decision. The Secretary's | ||||||
9 | decision is subject to review as
provided in Section 9.5 22.01 | ||||||
10 | of this Act.
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11 | An application for an ambulatory currency exchange license | ||||||
12 | shall be
accompanied by a fee of $100, which fee shall be for | ||||||
13 | the cost of
investigating the applicant. An approved applicant | ||||||
14 | shall not be required
to pay the initial investigation fee of | ||||||
15 | $100 more than once.
When the application for an ambulatory | ||||||
16 | currency exchange license has
been approved by the Secretary, | ||||||
17 | and such applicant so advised, such
applicant shall pay an | ||||||
18 | annual license fee of $25 for each and every
location to be | ||||||
19 | served by such applicant; provided that such license fee for
an | ||||||
20 | approved applicant applying for such a license after July 1st | ||||||
21 | of any
year shall be $12 for the balance of such year for each | ||||||
22 | and every location
to be served by such applicant. Such an
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23 | approved applicant for an ambulatory currency exchange | ||||||
24 | license, when
applying for a license with respect to a | ||||||
25 | particular location, shall file
with the Secretary, at the time | ||||||
26 | of filing an application, a letter of
memorandum, which shall |
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1 | be in writing and under oath, signed by the owner
or authorized | ||||||
2 | representative of the business whose employees are to be
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3 | served; such letter or memorandum shall contain a statement | ||||||
4 | that such
service is desired, and that the person signing the | ||||||
5 | same is authorized so
to do. The Secretary shall thereupon | ||||||
6 | verify the authenticity of the letter
or memorandum and the | ||||||
7 | authority of the person who executed it, to do
so. | ||||||
8 | The Department shall have 45 business days to approve or | ||||||
9 | deny a currency exchange licensee's request to purchase another | ||||||
10 | currency exchange.
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11 | (Source: P.A. 97-315, eff. 1-1-12; 97-1111, eff. 8-27-12.)
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12 | (205 ILCS 405/4.1) (from Ch. 17, par. 4809)
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13 | Sec. 4.1. Application; investigation; community need. | ||||||
14 | (a) The General Assembly finds and declares that community | ||||||
15 | currency
exchanges provide important and vital services to | ||||||
16 | Illinois citizens, that
the number of community currency | ||||||
17 | exchanges should be limited in accordance
with the needs of the | ||||||
18 | communities they are to serve, and that it is in the
public | ||||||
19 | interest to promote and foster the community currency exchange | ||||||
20 | business
and to insure the financial stability thereof. | ||||||
21 | (b) Upon receipt of an application
for a license for a | ||||||
22 | community
currency exchange, the Secretary shall cause an | ||||||
23 | investigation to determine: | ||||||
24 | (1) of the need of the community
for the establishment | ||||||
25 | of a community currency exchange at the location
specified |
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1 | in the application ; and | ||||||
2 | (2) the effect that granting the license
will have on | ||||||
3 | the financial stability of other community currency | ||||||
4 | exchanges
that may be serving the community in which the | ||||||
5 | business of the applicant
is proposed to be conducted.
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6 | (c) "Community", as used in this Act, means a locality | ||||||
7 | where there may or
can be available to the people thereof the | ||||||
8 | services of a community currency
exchange reasonably | ||||||
9 | accessible to them. | ||||||
10 | (d) If the issuance of a license to
engage in the community | ||||||
11 | currency exchange business at the location
specified will not | ||||||
12 | promote the needs and the convenience and advantage
of the | ||||||
13 | community in which the business of the applicant is proposed to | ||||||
14 | be
conducted, then the application shall be denied. | ||||||
15 | For the purposes of this subsection (d), a community | ||||||
16 | currency exchange business will promote the needs and the | ||||||
17 | convenience and advantage of the community if it will provide a | ||||||
18 | benefit to that community.
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19 | (e) As a part of the investigation, the Secretary shall, | ||||||
20 | within 10 business days after receipt of an application, notify | ||||||
21 | in writing all currency exchanges described in paragraph (2) of | ||||||
22 | subsection (b) of this Section of the application and the | ||||||
23 | proposed location. Within 10 business days after the notice, | ||||||
24 | any currency exchange as described in paragraph (2) of | ||||||
25 | subsection (b) of this Section may notify the Secretary that it | ||||||
26 | intends to protest the application. If the currency exchange |
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1 | intends to protest the application, then the currency exchange | ||||||
2 | shall, within 30 days after notifying the Secretary, provide | ||||||
3 | the Secretary with any information requested to substantiate | ||||||
4 | that granting the license would have a material and negative | ||||||
5 | effect upon the financial stability of the existing currency | ||||||
6 | exchange. Once the investigation is completed, the Secretary | ||||||
7 | shall, within 10 business days thereafter, notify any currency | ||||||
8 | exchange as described in paragraph (2) of subsection (b) of | ||||||
9 | this Section of the determination to approve or deny the | ||||||
10 | application. The determination shall sufficiently detail the | ||||||
11 | facts that led to the determination. Any currency exchange | ||||||
12 | described in paragraph (2) of subsection (b) of this Section | ||||||
13 | that has protested an application that the Secretary | ||||||
14 | subsequently approves shall have standing to bring this matter | ||||||
15 | to hearing under Section 10 of this Act. For the duration of | ||||||
16 | the license contest, the granting and issuance of the license | ||||||
17 | shall be stayed. | ||||||
18 | (Source: P.A. 97-315, eff. 1-1-12.)
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19 | (205 ILCS 405/4.1b new) | ||||||
20 | Sec. 4.1b. Proof of address. The applicant for a community | ||||||
21 | currency exchange license shall have a permanent address as | ||||||
22 | evidenced by a lease of at least 6 months duration or other | ||||||
23 | suitable evidence of permanency, and the license issued | ||||||
24 | pursuant to the application shall be valid only at that address | ||||||
25 | in the application or any new address approved by the |
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1 | Secretary. A letter of intent for a lease shall suffice for | ||||||
2 | inclusion with the application and evidence of an executed | ||||||
3 | lease shall be considered ministerial in nature to be furnished | ||||||
4 | once the investigation is completed, the approval final, and | ||||||
5 | prior to the issuance of the license.
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6 | (205 ILCS 405/5) (from Ch. 17, par. 4812)
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7 | Sec. 5. Bond; condition; amount.
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8 | (a) Before any license shall be issued
to a community
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9 | currency exchange the applicant shall file annually with and
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10 | have approved by the Secretary a surety bond, issued by a | ||||||
11 | bonding
company authorized to do business in this State in the | ||||||
12 | principal sum
of $25,000. Such bond shall run to the Secretary | ||||||
13 | and shall
be for the benefit of any creditors of such currency | ||||||
14 | exchange
for any liability incurred by the currency exchange on | ||||||
15 | any
money orders, including any fees and penalties incurred by | ||||||
16 | the remitter should the money order be returned unpaid, issued | ||||||
17 | or sold by the currency exchange in the ordinary course of its | ||||||
18 | business and for
any liability incurred by the currency | ||||||
19 | exchange for any sum or
sums due to any payee or endorsee of | ||||||
20 | any check, draft or money
order left with the currency exchange | ||||||
21 | in the ordinary course of its business for collection, and for
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22 | any liability to the public incurred by the currency exchange | ||||||
23 | in the ordinary course of its business in connection
with the | ||||||
24 | rendering of any of the services referred to in
Section 3 of | ||||||
25 | this Act.
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1 | To protect the public and allow for the effective | ||||||
2 | underwriting of bonds, the surety bond shall not cover money | ||||||
3 | orders issued and other liabilities incurred by a currency | ||||||
4 | exchange for its own account or that of its controlling | ||||||
5 | persons, including money orders issued or liabilities incurred | ||||||
6 | by the currency exchange to obtain cash for its own operations, | ||||||
7 | to pay for the currency exchange's own bills or liabilities or | ||||||
8 | that of its controlling persons, or to obtain things of value | ||||||
9 | for the currency exchange or its controlling persons, | ||||||
10 | regardless of whether such things of value are used in the | ||||||
11 | currency exchange's operations or sold by the currency | ||||||
12 | exchange. | ||||||
13 | From time to time the Secretary may determine the amount of | ||||||
14 | liabilities
as described herein and shall require the licensee | ||||||
15 | to file a bond in an
additional sum if the same is determined | ||||||
16 | to be necessary in accordance with
the requirements of this | ||||||
17 | Section. In no case shall the bond be less than
the initial | ||||||
18 | $25,000, nor more than the outstanding liabilities.
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19 | (b) In lieu of the surety bond requirements of subsection | ||||||
20 | (a), a community
currency exchange licensee may submit evidence | ||||||
21 | satisfactory to the Secretary
that the community currency | ||||||
22 | exchange licensee is covered by a blanket bond that
covers | ||||||
23 | multiple licensees who are members of a statewide association | ||||||
24 | of
community currency exchanges. Such a blanket bond must be | ||||||
25 | issued by a bonding
company authorized to do business in this | ||||||
26 | State and in a principal aggregate
sum of not less than |
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1 | $3,000,000 as of May 1, 2012, and not less than $4,000,000 as | ||||||
2 | of May 1, 2014.
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3 | (c) An ambulatory currency exchange may sell or issue money | ||||||
4 | orders
at any location with regard to which it
is issued a | ||||||
5 | license pursuant to this Act, including existing
licensed | ||||||
6 | locations, without the necessity of a further
application or | ||||||
7 | hearing and without regard to any exceptions
contained in | ||||||
8 | existing licenses, upon the filing with
the Secretary of a | ||||||
9 | surety bond approved by the Secretary and issued by a bonding
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10 | company
or insurance company authorized to do business in | ||||||
11 | Illinois,
in the principal sum of $100,000. Such bond may be a | ||||||
12 | blanket
bond covering all locations at which the ambulatory | ||||||
13 | currency
exchange may sell or issue money orders,
and shall run | ||||||
14 | to the Secretary for the
use and benefit of any creditors of | ||||||
15 | such ambulatory currency
exchange for any liability incurred by | ||||||
16 | the ambulatory currency
exchange on any money orders issued or | ||||||
17 | sold by it to the public in the ordinary course of its | ||||||
18 | business .
Such bond shall be renewed annually. If after
the | ||||||
19 | expiration of one year from the date of approval of such
bond | ||||||
20 | by the Secretary, it shall appear that the average amount
of | ||||||
21 | such liability during the year has exceeded $100,000,
the | ||||||
22 | Secretary shall require the licensee to furnish a bond for
the | ||||||
23 | ensuing year, to be approved by the Secretary,
for an | ||||||
24 | additional principal sum of $1,000 for each $1,000 of
such | ||||||
25 | liability or fraction thereof in excess of the original
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26 | $100,000, except that the maximum amount of such bond shall not |
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1 | be required to
exceed $250,000.
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2 | (Source: P.A. 97-315, eff. 1-1-12.)
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3 | (205 ILCS 405/9) (from Ch. 17, par. 4816)
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4 | Sec. 9.
No community or ambulatory currency exchange shall | ||||||
5 | issue
tokens to be used in lieu of money for the purchase of | ||||||
6 | goods or services
from any enterprise , except that currency | ||||||
7 | exchanges may engage in
the distribution of food stamps as | ||||||
8 | authorized by Section 3.2 .
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9 | (Source: P.A. 80-439.)
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10 | (205 ILCS 405/9.5 new) | ||||||
11 | Sec. 9.5. Hearings; subpoena power. For the purposes of | ||||||
12 | this Act, the Secretary, the arbitrator, or any administrative | ||||||
13 | law judge shall have the power to require by subpoena the | ||||||
14 | attendance and testimony of witnesses and the production of all | ||||||
15 | documentary evidence relating to any matter under hearing under | ||||||
16 | this Act and shall issue the subpoenas at the request of any | ||||||
17 | interested party. The arbitrator or administrative law judge | ||||||
18 | may sign subpoenas in the name of the Secretary. | ||||||
19 | As decided by the licensee, any hearing pursuant to this | ||||||
20 | Act shall either be (1) administered through binding | ||||||
21 | arbitration by an arbitrator mutually agreed to by the parties | ||||||
22 | or, failing agreement within 30 days, by an arbitrator chosen | ||||||
23 | in accordance with the rules of the American Arbitration | ||||||
24 | Association, or (2) brought before an administrative law judge, |
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1 | and all final administrative decisions shall be subject to | ||||||
2 | judicial review pursuant to the provisions of the | ||||||
3 | Administrative Review Law. The cost of the hearing shall be | ||||||
4 | paid by the applicant, licensee, or party other than the | ||||||
5 | Secretary. The Secretary, arbitrator, or administrative law | ||||||
6 | judge shall administer oaths and affirmations to all witnesses | ||||||
7 | appearing before them. The arbitrator or administrative law | ||||||
8 | judge, upon the conclusion of the hearing, shall certify the | ||||||
9 | evidence to the Secretary. The decision by the arbitrator shall | ||||||
10 | be binding upon the parties. | ||||||
11 | All hearings shall be scheduled within 30 days after the | ||||||
12 | request for a hearing, unless otherwise stated in this Act or | ||||||
13 | agreed to by the parties. The hearing shall be held at the time | ||||||
14 | and place designated by the Secretary. | ||||||
15 | Any circuit court of this State within the jurisdiction | ||||||
16 | where the hearing is conducted may, in the case of an | ||||||
17 | individual's refusal to appear or refusal of a witness to obey | ||||||
18 | a subpoena, issue an order requiring the witness to appear | ||||||
19 | before the Director or the hearing officer or to produce | ||||||
20 | documentary evidence or to give relevant testimony. Any failure | ||||||
21 | to obey an order of the court may be punished as contempt of | ||||||
22 | court.
| ||||||
23 | (205 ILCS 405/11) (from Ch. 17, par. 4819)
| ||||||
24 | Sec. 11.
Such license, if issued for a community currency | ||||||
25 | exchange, shall
state the name of the licensee and the address |
| |||||||
| |||||||
1 | at which the business is to
be conducted. Such license, or and | ||||||
2 | its annual renewal, shall be kept conspicuously posted in the | ||||||
3 | place
of business of the licensee and shall not be transferable | ||||||
4 | or assignable. If
issued for an ambulatory currency exchange, | ||||||
5 | it shall so state, and shall
state the name and office address | ||||||
6 | of the licensee, and the name and address
of the location or | ||||||
7 | locations to be served by the licensee, and shall not be
| ||||||
8 | transferable and assignable.
| ||||||
9 | (Source: P.A. 97-315, eff. 1-1-12.)
| ||||||
10 | (205 ILCS 405/13) (from Ch. 17, par. 4821)
| ||||||
11 | Sec. 13.
No more than one place of business shall be | ||||||
12 | maintained under
the same community currency exchange license, | ||||||
13 | but the Secretary may issue
more than one license to the same | ||||||
14 | licensee upon compliance with the
provisions of this Act | ||||||
15 | governing an original issuance of a license, for
each new | ||||||
16 | license.
| ||||||
17 | Whenever a community currency exchange or an ambulatory | ||||||
18 | currency
exchange shall wish to change its name in its license, | ||||||
19 | it shall file an
application for approval thereof with the | ||||||
20 | Secretary, and if the change is
approved by the Secretary he | ||||||
21 | shall attach to the license, in writing, a
rider stating the | ||||||
22 | licensee's new name.
| ||||||
23 | If an ambulatory currency exchange has serviced a licensed | ||||||
24 | location for
2 years or longer and the employer whose employees | ||||||
25 | are served at that location
has moved his place of business, |
| |||||||
| |||||||
1 | the currency exchange may continue its
service to the employees | ||||||
2 | of that employer at the new address of that employer's
place of | ||||||
3 | business by filing a notice of the change of address with the | ||||||
4 | Secretary
and by relinquishing its license to conduct its | ||||||
5 | business at the employer's
old address upon receipt of a | ||||||
6 | license to conduct its business at the employer's
new address. | ||||||
7 | Nothing in this Act shall preclude or prevent an ambulatory
| ||||||
8 | currency exchange from filing an application to conduct its | ||||||
9 | business at
the old address of an employer who moved his place | ||||||
10 | of business after the
ambulatory currency exchange receives a | ||||||
11 | license to conduct its business
at the employer's new address | ||||||
12 | through the filing of a notice of its change
of address with | ||||||
13 | the Secretary and the relinquishing of its license to conduct
| ||||||
14 | its business at the employer's old address.
| ||||||
15 | Whenever a currency exchange wishes to make any other | ||||||
16 | change in the address
set forth in any of its licenses, it | ||||||
17 | shall apply to the Secretary for approval
of such change of | ||||||
18 | address.
Every application for approval of a change of address | ||||||
19 | shall be treated by
the Secretary in the same manner as is | ||||||
20 | otherwise provided in this Act for
the treatment of proposed | ||||||
21 | places of business or locations as contained in
new | ||||||
22 | applications for licenses; and if any fact or condition then | ||||||
23 | exists
with respect to the application for change of address, | ||||||
24 | which fact or condition
would otherwise authorize denial of a | ||||||
25 | new application for a license because
of the address of the | ||||||
26 | proposed location or place of business, then such
application |
| |||||||
| |||||||
1 | for change of address shall not be approved. Whenever a
| ||||||
2 | community currency exchange wishes to sell its physical assets, | ||||||
3 | it may do
so, however, if the assets are sold with the | ||||||
4 | intention of continuing the
operation of a community currency | ||||||
5 | exchange, the purchaser or purchasers
must first make | ||||||
6 | application to the Secretary for licensure in accordance
with | ||||||
7 | Sections 4 and 10 of this Act. If the Secretary shall not so | ||||||
8 | approve,
he shall not issue such license and shall notify the | ||||||
9 | applicant or
applicants of such denial. The investigation fee | ||||||
10 | for a change of location
is $500.
| ||||||
11 | The provisions of Sections 4.1a and Section 10 with | ||||||
12 | reference to notice, hearing and review
apply to applications | ||||||
13 | filed pursuant to this Section.
| ||||||
14 | (Source: P.A. 97-315, eff. 1-1-12.)
| ||||||
15 | (205 ILCS 405/13.1) (from Ch. 17, par. 4822)
| ||||||
16 | Sec. 13.1. Consolidation of business locations. Whenever 2 | ||||||
17 | or more
licensees desire to consolidate their places
of | ||||||
18 | business, they shall make application for such consolidation to | ||||||
19 | the
Secretary upon a form provided by him or her. This | ||||||
20 | application shall state: (a) the
name to be adopted and the | ||||||
21 | location at which the business is to be located,
which name and | ||||||
22 | location shall be the same as one of the consolidating
| ||||||
23 | licensees; (b) that the owners or all partners or all | ||||||
24 | stockholders or all
members, as the
case may be, of the | ||||||
25 | licensees involved in the contemplated consolidation,
have |
| |||||||
| |||||||
1 | approved the application; (c) a certification by the secretary, | ||||||
2 | if any
of the licensees be corporations, that the contemplated | ||||||
3 | consolidation has
been approved by all of the stockholders at a | ||||||
4 | properly convened
stockholders meeting; (d) other relevant | ||||||
5 | information the Secretary may
require. Simultaneously with the | ||||||
6 | approval of the application by the
Secretary, the licensee or | ||||||
7 | licensees who will cease doing business shall:
(a) surrender | ||||||
8 | their license or licenses to the Secretary; (b) transfer all
of | ||||||
9 | their assets and liabilities to the licensee continuing to | ||||||
10 | operate by
virtue of the application; (c) apply to the | ||||||
11 | Secretary of State, if they be
corporations, for surrender of | ||||||
12 | their corporate charter in accordance with
the provisions of | ||||||
13 | the Business Corporation Act of 1983.
| ||||||
14 | An application for consolidation shall be approved or | ||||||
15 | rejected by the
Secretary within 30 days after receipt by him | ||||||
16 | of such application and
supporting documents required | ||||||
17 | thereunder. The Secretary shall impose a consolidation fee of | ||||||
18 | $100 per application.
| ||||||
19 | Such consolidation shall not affect suits pending in which | ||||||
20 | the
surrendering licensees are parties; nor shall such | ||||||
21 | consolidation affect
causes of action nor the rights of persons | ||||||
22 | in particular; nor shall suits
brought against such licensees | ||||||
23 | in their former names be abated for that
cause.
| ||||||
24 | Nothing contained herein shall limit or prohibit any action | ||||||
25 | or remedy
available to a licensee or to the Secretary under | ||||||
26 | Sections 15, 15.1 to 15.1e
or 15.2 of this Act.
|
| |||||||
| |||||||
1 | (Source: P.A. 97-315, eff. 1-1-12.)
| ||||||
2 | (205 ILCS 405/15) (from Ch. 17, par. 4824)
| ||||||
3 | Sec. 15. Fines; suspension; revocation. The Secretary may | ||||||
4 | fine, suspend, or revoke any license issued under this Act if | ||||||
5 | he or she finds that: The Secretary may, after 15 days notice | ||||||
6 | by registered or certified mail to the licensee at the address | ||||||
7 | set forth in the license stating the contemplated action and in | ||||||
8 | general the grounds therefore, fine the licensee an amount not | ||||||
9 | exceeding $1,000 per violation or revoke or suspend any license | ||||||
10 | issued if he or she finds that:
| ||||||
11 | (a) the licensee has failed to pay the annual license | ||||||
12 | fee or to
maintain in effect the required bond or bonds or | ||||||
13 | insurance policy or
policies; or
| ||||||
14 | (b) the licensee has failed to comply with any | ||||||
15 | provision of this Act or any order, decision, finding, | ||||||
16 | rule, regulation, or direction of the Secretary lawfully | ||||||
17 | made under the authority of this Act; or | ||||||
18 | (c) the licensee has violated any provision of this Act | ||||||
19 | or any
regulation or direction made by the Secretary under | ||||||
20 | this Act; or
| ||||||
21 | (d) any fact or condition exists which, if it had | ||||||
22 | existed at the
time of the original application for such | ||||||
23 | license, would have warranted
the Secretary in refusing the | ||||||
24 | issuance of the license; or
| ||||||
25 | (e) the licensee has not operated the currency exchange |
| |||||||
| |||||||
1 | or at the
location licensed, for a period of 60 consecutive | ||||||
2 | days, unless the
licensee was prevented from operating | ||||||
3 | during such period by reason of
events or acts beyond the | ||||||
4 | licensee's control.
| ||||||
5 | The Secretary's authority to fine a licensee or suspend or | ||||||
6 | revoke licenses under this Section is subject to the following: | ||||||
7 | (1) No less than 15 business days before issuing any | ||||||
8 | fine, suspension, or revocation, the Secretary shall send | ||||||
9 | to the licensee a notice of contemplated action in writing | ||||||
10 | by registered mail at the address set forth in the license | ||||||
11 | or to such other address or by method as previously | ||||||
12 | designated by the licensee. | ||||||
13 | (2) The notice shall state (i) the specific nature and | ||||||
14 | a clear and concise description of the violation, (ii) the | ||||||
15 | Sections or rules that have been violated, (iii) the | ||||||
16 | contemplated fine or action, (iv) that the licensee may, | ||||||
17 | within 15 business days from the date of the notice, | ||||||
18 | request a hearing under Section 9.5 of this Act, (v) that | ||||||
19 | the licensee may, within 15 business days after the notice, | ||||||
20 | take corrective action to mitigate any fine or contemplated | ||||||
21 | action, and (vi) the specific corrective action to be | ||||||
22 | taken. | ||||||
23 | (3) In the event the licensee requests, in writing to | ||||||
24 | the Secretary and within 15 business days after the notice, | ||||||
25 | a hearing on the fine or contemplated action, the matter | ||||||
26 | shall be heard pursuant to Section 9.5 of this Act, any |
| |||||||
| |||||||
1 | fines or contemplated action shall be stayed and no fines | ||||||
2 | shall accrue during the pendency of the hearing. | ||||||
3 | (4) In the event the licensee takes the corrective | ||||||
4 | action set forth in the notice within the time specified, | ||||||
5 | the licensee shall certify the corrective action in writing | ||||||
6 | to the Secretary, who may then confirm the corrective | ||||||
7 | action by conducting a follow-up investigation within 30 | ||||||
8 | days of the date of the certification and if the Secretary | ||||||
9 | confirms the corrective action is complete, he or she may | ||||||
10 | assess an examination charge not to exceed $100, provided, | ||||||
11 | however that corrective action taken by a licensee shall | ||||||
12 | not serve to mitigate any contemplated fine or action if | ||||||
13 | the violation is an impairment or is substantially similar | ||||||
14 | to a violation committed by the licensee and at the | ||||||
15 | specific location within the previous 36 months. | ||||||
16 | Consistent with the provisions of this Act, the Secretary | ||||||
17 | may, after weighing any harm to the public, the seriousness of | ||||||
18 | the offense, and the history of the licensee, fine a licensee | ||||||
19 | up to a maximum of $1,000 per violation. "Violation" means the | ||||||
20 | offending act taken as a whole. Each day, incident, or | ||||||
21 | occurrence the offending act occurred shall not be construed as | ||||||
22 | a separate violation. | ||||||
23 | No license shall be revoked until the licensee has had | ||||||
24 | notice of a hearing on the proposed revocation and an | ||||||
25 | opportunity to be heard. When any license is revoked in this | ||||||
26 | manner, the Secretary shall, within 20 days, prepare and keep |
| |||||||
| |||||||
1 | on file in his or her office, a written order or decision of | ||||||
2 | revocation that shall contain his or her findings and the | ||||||
3 | reasons supporting the revocation. The Secretary shall send a | ||||||
4 | copy of the order, finding, or decision of revocation by United | ||||||
5 | States mail to the licensee at the address set forth in the | ||||||
6 | license within 5 days after the filing in his or her office of | ||||||
7 | the order, finding, or decision. A review of any such order, | ||||||
8 | finding, or decision is available under Section 9.5 of this | ||||||
9 | Act. | ||||||
10 | The Secretary may fine, suspend or revoke only the | ||||||
11 | particular license or licenses for
particular places of | ||||||
12 | business or locations with respect to which grounds
for | ||||||
13 | revocation may occur or exist; except that if he shall find | ||||||
14 | that
such grounds for revocation are of general application to | ||||||
15 | all places of
business or locations, or that such grounds for | ||||||
16 | fines, suspension or revocation
have occurred
or exist with | ||||||
17 | respect to a substantial number of places of business or
| ||||||
18 | locations, he may fine, suspend or revoke all of the licenses | ||||||
19 | issued to such licensee. | ||||||
20 | An order assessing a fine, an order revoking or | ||||||
21 | suspending a license, or an order denying renewal of a | ||||||
22 | license shall take effect on service of the order unless | ||||||
23 | the licensee requests a hearing, in writing, within 15 days | ||||||
24 | after the date of service. In the event a hearing is | ||||||
25 | requested, the order shall be stayed until a final | ||||||
26 | administrative order is entered. If the licensee requests a |
| |||||||
| |||||||
1 | hearing, the Secretary shall schedule a hearing within 30 | ||||||
2 | days after the request for a hearing unless otherwise | ||||||
3 | agreed to by the parties. The hearing shall be held at the | ||||||
4 | time and place designated by the Secretary. | ||||||
5 | The Secretary and any administrative law judge | ||||||
6 | designated by him or her shall have the power to administer | ||||||
7 | oaths and affirmations, subpoena witnesses and compel | ||||||
8 | their attendance, take evidence, and require the | ||||||
9 | production of books, papers, correspondence, and other | ||||||
10 | records or information that he or she considers relevant or | ||||||
11 | material to the inquiry. | ||||||
12 | In case of contumacy or refusal of a witness to obey a | ||||||
13 | subpoena, any circuit court of this State whose | ||||||
14 | jurisdiction encompasses where the hearing is located may | ||||||
15 | issue an order requiring such witness to appear before the | ||||||
16 | Secretary or the hearing officer, to produce documentary | ||||||
17 | evidence, or to give testimony touching the matter in | ||||||
18 | question; and the court may punish any failures to obey | ||||||
19 | such orders of the court as contempt.
| ||||||
20 | A licensee may surrender any license by delivering to | ||||||
21 | the Secretary
written notice that he, they or it thereby | ||||||
22 | surrenders such license, but
such surrender shall not | ||||||
23 | affect such licensee's civil or criminal
liability for acts | ||||||
24 | committed prior to such surrender, or affect the
liability | ||||||
25 | on his, their or its bond or bonds, or his, their or its
| ||||||
26 | policy or policies of insurance, required by this Act, or |
| |||||||
| |||||||
1 | entitle such
licensee to a return of any part of the annual | ||||||
2 | license fee or fees.
| ||||||
3 | Every license issued hereunder shall remain in force until | ||||||
4 | the same
shall expire, or shall have been surrendered, | ||||||
5 | suspended or revoked in accordance
with this Act, but the | ||||||
6 | Secretary may on his own motion, issue new
licenses to a | ||||||
7 | licensee whose license or licenses shall have been revoked
if | ||||||
8 | no fact or condition then exists which clearly would have | ||||||
9 | warranted
the Secretary in refusing originally the issuance of | ||||||
10 | such license under
this Act.
| ||||||
11 | (Source: P.A. 97-315, eff. 1-1-12.)
| ||||||
12 | (205 ILCS 405/15.1) (from Ch. 17, par. 4825)
| ||||||
13 | Sec. 15.1.
If the Secretary determines that any licensee is | ||||||
14 | insolvent or is violating this Act, or if the owner, executor, | ||||||
15 | or successor in interest of a currency exchange abandons the | ||||||
16 | currency exchange, he or she shall , within 5 business days, | ||||||
17 | appoint a receiver, who shall, under his
or her direction, for | ||||||
18 | the purpose of receivership, take possession of and title to
| ||||||
19 | the books, records, and assets of every description of the | ||||||
20 | community
currency exchange. The Secretary may require of the | ||||||
21 | receiver such security
as he or she deems proper and, upon | ||||||
22 | appointment of the receiver, shall have
published, once each | ||||||
23 | week for 4 consecutive weeks in a newspaper having a
general | ||||||
24 | circulation in the community, a notice calling on all persons | ||||||
25 | who
have claims against the community currency exchange, to |
| |||||||
| |||||||
1 | present them to the
receiver.
| ||||||
2 | Within 10 days after the receiver takes possession of the | ||||||
3 | property, the
licensee may apply to the Circuit Court of the | ||||||
4 | county where the community currency exchange is located to | ||||||
5 | enjoin
further proceedings in the premises.
| ||||||
6 | The receiver may operate the community currency exchange | ||||||
7 | until the
Secretary determines that possession should be | ||||||
8 | restored to the licensee or
that the business should be | ||||||
9 | liquidated.
| ||||||
10 | (Source: P.A. 97-315, eff. 1-1-12.)
| ||||||
11 | (205 ILCS 405/3.1 rep.)
| ||||||
12 | (205 ILCS 405/3.2 rep.)
| ||||||
13 | (205 ILCS 405/3.3 rep.)
| ||||||
14 | (205 ILCS 405/22.01 rep.) | ||||||
15 | Section 10. The Currency Exchange Act is amended by | ||||||
16 | repealing Sections 3.1, 3.2, 3.3, and 22.01.".
|