Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 670/11

(205 ILCS 670/11) (from Ch. 17, par. 5411)

Sec. 11.

Books and records - Reports.

(a) Every licensee shall retain and use in his business or at another
location approved by the Director such records as
are required by the Director to enable the Director to determine
whether the licensee is complying with the provisions of this Act and the
rules and regulations promulgated pursuant to this Act. Every
licensee shall preserve the records of any loan for at least 2 years after
making the final entry for such loan.
Accounting systems maintained in whole or in part by mechanical or
electronic data processing methods which provide information equivalent to
that otherwise required and follow generally accepted accounting principles
are acceptable for that purpose, if approved by the Director in writing.

(b) Each licensee shall annually, on or before the first day of March,
file a report with the Director giving such relevant information as
the Director may reasonably require concerning the business and
operations during the preceding calendar year of each licensed place of
business conducted by the licensee. The report must be received by the
Department on or before March 1.  The report shall be
made under oath and in a form prescribed by the Director. Whenever a
licensee operates 2 or more licensed offices or whenever 2 or more
affiliated licensees operate licensed offices, a composite report of such
group of licensed offices may be filed in lieu of individual reports. The
Director may make and publish annually an analysis and
recapitulation
of such reports. The Director may fine each licensee $25 for each
day
beyond March 1 such report is filed.

(Source: P.A. 92-398, eff. 1-1-02.)