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| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014 SB1799 Introduced 2/15/2013, by Sen. John M. Sullivan SYNOPSIS AS INTRODUCED: | | |
Amends the Transmitters of Money Act. Makes a technical change in a Section
concerning licenses.
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| | A BILL FOR |
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| | SB1799 | | LRB098 07782 MGM 37861 b |
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1 | | AN ACT concerning regulation.
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2 | | Be it enacted by the People of the State of Illinois, |
3 | | represented in the General Assembly:
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4 | | Section 5. The Transmitters of Money Act is amended by |
5 | | changing Section 10 as follows:
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6 | | (205 ILCS 657/10)
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7 | | Sec. 10. License required. No person may engage in this |
8 | | State in the
the
business
of selling or issuing payment |
9 | | instruments, transmitting money, or
exchanging, for |
10 | | compensation, payment instruments or money of the United States
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11 | | government or a foreign government to or from money of another |
12 | | government
without first obtaining a license under this Act. |
13 | | Separate licenses shall not
be
required, however, for persons |
14 | | acting as authorized sellers of licensees under
this Act. |
15 | | (Source: P.A. 88-643, eff. 1-1-95.)
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