Illinois General Assembly - Full Text of HB4614
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Full Text of HB4614  99th General Assembly

HB4614eng 99TH GENERAL ASSEMBLY

  
  
  

 


 
HB4614 EngrossedLRB099 15957 SMS 40274 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Financial Institutions Code is amended by
5changing Section 16 as follows:
 
6    (20 ILCS 1205/16)  (from Ch. 17, par. 117)
7    Sec. 16. There shall be a Supervisor of Consumer Credit , a
8Supervisor of Consumer Finance Businesses, a Supervisor of
9Sales Finance Agencies, a Supervisor of Currency Exchanges, a
10Supervisor of Title Insurance, and a Supervisor of Credit
11Unions. The respective Supervisors Supervisor shall be
12appointed by and responsible to the Director and shall be
13administratively responsible within the Department for the
14financial institutions and title insurance entities to which
15their appointments pertain.
16(Source: Laws 1967, p. 2211.)
 
17    Section 10. The Currency Exchange Act is amended by
18changing Section 14 as follows:
 
19    (205 ILCS 405/14)  (from Ch. 17, par. 4823)
20    Sec. 14. Every licensee, shall, on or before November 15,
21pay to the Secretary the annual license fee or fees for the

 

 

HB4614 Engrossed- 2 -LRB099 15957 SMS 40274 b

1next succeeding calendar year and shall at the same time file
2with the Secretary the annual report required by Section 16 of
3this Act, and the annual bond or bonds, and the insurance
4policy or policies as and if required by this Act. The annual
5license fee for each community currency exchange shall be $400
6for each licensee and $400 for each additional licensed
7location. The annual license fee for each location served by an
8ambulatory currency exchange shall be $25.
9(Source: P.A. 99-445, eff. 1-1-16.)
 
10    Section 99. Effective date. This Act takes effect upon
11becoming law.