093_HB0137

 
                                     LRB093 03361 JLS 03379 b

 1        AN ACT concerning financial transactions.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.  The  Transmitters of Money Act is amended by
 5    adding Section 47 as follows:

 6        (205 ILCS 657/47 new)
 7        Sec. 47.  Requirements for  receiving  money  in  Mexico;
 8    notice.
 9        (a)  A  licensee  and an authorized seller must post in a
10    conspicuous  place  at  each  of  its  locations   a   notice
11    disclosing  the  requirements applicable to persons receiving
12    money transfers in Mexico.  The notice must comply  with  the
13    requirements established by the Department.
14        (b)  Within  180  days  after  the effective date of this
15    amendatory Act of the 93rd General Assembly,  the  Department
16    shall  issue  rules  necessary to implement the provisions of
17    this Section.  The rules shall, at  a  minimum,  specify  the
18    content and size of the notices.