Bill Text: IL SB0644 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the Collection Agency Act by changing references to the General Professions Dedicated Fund to refer to the Financial Institution Fund. Provides that any fees collected and deposited into the General Professions Dedicated Fund for Fiscal Year 2021 may be transferred by the Department of Financial and Professional Regulation to the Financial Institution Fund. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2021-04-23 - Rule 3-9(a) / Re-referred to Assignments [SB0644 Detail]

Download: Illinois-2021-SB0644-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 SB0644 Introduced 2/24/2021, by Sen. Laura Ellman SYNOPSIS AS INTRODUCED:
225 ILCS 425/4.5
225 ILCS 425/8a from Ch. 111, par. 2011a
Amends the Collection Agency Act by changing references to the General Professions Dedicated Fund to refer to the Financial Institution Fund. Provides that any fees collected and deposited into the General Professions Dedicated Fund for Fiscal Year 2021 may be transferred by the Department of Financial and Professional Regulation to the Financial Institution Fund. Effective immediately.
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A BILL FOR
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AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Collection Agency Act is amended by
changing Sections 4.5 and 8a as follows:
(225 ILCS 425/4.5)
(Section scheduled to be repealed on January 1, 2026)
Sec. 4.5. Unlicensed practice; violation; civil penalty.
(a) Any person who practices, offers to practice, attempts
to practice, or holds oneself out to practice as a collection
agency without being licensed under this Act shall, in
addition to any other penalty provided by law, pay a civil
penalty to the Department in an amount not to exceed $10,000
for each offense as determined by the Department. The civil
penalty shall be assessed by the Department after a hearing is
held in accordance with the provisions set forth in this Act
regarding the provision of a hearing for the discipline of a
licensee.
(b) The Department has the authority and power to
investigate any and all unlicensed activity. In addition to
taking any other action provided under this Act, whenever the
Department has reason to believe a person has violated any
provision of subsection (a) of this Section, the Department

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may issue a rule to show cause why an order to cease and desist
should not be entered against that person. The rule shall
clearly set forth the grounds relied upon by the Department
and shall provide a period of 7 days from the date of the rule
to file an answer to the satisfaction of the Department.
Failure to answer to the satisfaction of the Department shall
cause an order to cease and desist to be issued immediately.
(c) The civil penalty shall be paid within 60 days after
the effective date of the order imposing the civil penalty.
The order shall constitute a judgment and may be filed and
execution had thereon in the same manner as any judgment from
any court of record.
(d) All moneys collected under this Section shall be
deposited into the Financial Institution General Professions
Dedicated Fund.
(Source: P.A. 99-227, eff. 8-3-15.)
(225 ILCS 425/8a) (from Ch. 111, par. 2011a)
(Section scheduled to be repealed on January 1, 2026)
Sec. 8a. Fees.
(a) The fees for the administration and enforcement of
this Act, including but not limited to original licensure,
renewal, and restoration, shall be set by the Department by
rule. All fees are nonrefundable.
(b) All fees collected under this Act by the Department
shall be deposited into the Financial Institution General

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Professions Dedicated Fund and shall be appropriated to the
Department for the ordinary and contingent expenses of the
Department in the administration of this Act. Any fees
collected and deposited into the General Professions Dedicated
Fund pursuant to this Act for Fiscal Year 2021 may be
transferred by the Department to the Financial Institution
Fund.
(c) The administration fee charged by the multi-state
licensing system shall be paid directly to the multi-state
licensing system.
(Source: P.A. 99-227, eff. 8-3-15; 100-132, eff. 8-18-17.)
Section 99. Effective date. This Act takes effect upon
becoming law.