Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 405/4

(205 ILCS 405/4) (from Ch. 17, par. 4808)

Sec. 4. License application; contents; fees.

A licensee shall obtain a separate license for each licensed location. Application for such
license shall be in writing under oath and in
the form prescribed and furnished by the Secretary. Each application shall
contain the following:

(a) The applicant's full name and address (both of

residence and place of business) if the applicant is a natural person,  and if the applicant is a partnership, limited liability company, or association, of every member thereof, and the name and principal office if the applicant is a corporation;

(b) The county and municipality, with street and

number, if any, where the community currency exchange is to be conducted, if the application is for a community currency exchange license;

(c) If the application is for an ambulatory currency

exchange license, the name and address of the employer at each location to be served by it; and

(d) In the case of a licensee's initial license

application, the  applicant's occupation or profession; a detailed statement of the applicant's  business experience for the 10 years immediately preceding the application; a detailed statement of the applicant's finances; the applicant's present or previous connection with any other currency exchange; whether the applicant has ever been involved in any civil or criminal litigation, and the material facts pertaining thereto; whether the applicant has ever been committed to any penal institution or admitted to an institution for the care and treatment of mentally ill persons; and the nature of applicant's occupancy of the premises to be licensed where the application is for a community currency exchange license. If the applicant is a partnership, the information specified herein shall be required of each partner. If the applicant is a corporation or limited liability company, the said information shall be required of each controlling person thereof along with disclosure of their ownership interests.

A licensee's initial community currency exchange license application shall be
accompanied by a fee of $1,000 for the cost of investigating the applicant. A licensee's application for licenses for additional licensed locations shall be accompanied by a fee of $1,000 for each additional license. If the ownership of a
licensee or licensed location changes, in whole or in part, a new application must be filed pursuant
to this Section along with a $500 fee if the licensee's ownership interests
have been transferred
or sold to a new person or entity or a fee of $300 if the licensee's
ownership interests have been transferred or sold to a current holder or
holders of the licensee's ownership interests.
When the application for a
community currency exchange license has been approved by the Secretary and
the applicant so advised, an additional sum of
$400 as an annual license
fee for a period terminating on the last day of the current calendar year
shall be paid to the Secretary by the applicant; provided, that the license
fee for an applicant applying for such a license after July 1st of any year
shall be $200 for the balance of such year. Upon receipt
of a community currency exchange license application, the
Secretary shall examine the application for completeness and
notify the applicant in writing of any defect within 20 days after
receipt. The applicant must remedy the defect within 10 days after the mailing of the notification of the defect by the Secretary.    Failure to timely remedy the defect will void the application.   Once the Secretary determines that the application is complete, the Secretary shall have 90 business days to approve or deny the application.
If
the application is denied, the Secretary shall send by United
States mail notice of the denial to the applicant at the
address set forth in the application. If an application is
denied, the applicant may, within 10  days after the date of the
notice of denial, make a written request to the Secretary for a
hearing on the application.  The hearing shall be set for a date after the receipt by the Secretary of the request for a hearing, and written notice of the time and place of the hearing shall be mailed to the applicant no later than 15 days before the date of the hearing.  The hearing shall be scheduled for a date within 56 days after the date of the receipt of the request for a hearing. The applicant shall pay the actual cost of
making the transcript of the hearing prior to the Secretary's
issuing his or her decision. The Secretary's decision is subject to review as
provided in Section 22.01 of this Act.

An application for an ambulatory currency exchange license shall be
accompanied by a fee of $100, which fee shall be for the cost of
investigating the applicant.  An approved applicant shall not be required
to pay the initial investigation fee of $100 more than once.
When the application for an ambulatory currency exchange license has
been approved by the Secretary, and such applicant so advised, such
applicant shall pay an annual license fee of $25 for each and every
location to be served by such applicant; provided that such license fee for
an approved applicant applying for such a license after July 1st of any
year shall be $12 for the balance of such year for each and every location
to be served by such applicant. Such an
approved applicant for an ambulatory currency exchange license, when
applying for a license with respect to a particular location, shall file
with the Secretary, at the time of filing an application, a letter of
memorandum, which shall be in writing and under oath, signed by the owner
or authorized representative of the business whose employees are to be
served; such letter or memorandum shall contain a statement that such
service is desired, and that the person signing the same is authorized so
to do. The Secretary shall thereupon verify the authenticity of the letter
or memorandum and the authority of the person who executed it, to do
so.

The Department shall have 45 business days to approve or deny a licensee's request to purchase another currency exchange.

(Source: P.A. 99-445, eff. 1-1-16.)