Illinois General Assembly - Full Text of Public Act 099-0549
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Public Act 099-0549





Public Act 099-0549
HB4614 EnrolledLRB099 15957 SMS 40274 b

    AN ACT concerning regulation.
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
    Section 5. The Financial Institutions Code is amended by
changing Section 16 as follows:
    (20 ILCS 1205/16)  (from Ch. 17, par. 117)
    Sec. 16. There shall be a Supervisor of Consumer Credit , a
Supervisor of Consumer Finance Businesses, a Supervisor of
Sales Finance Agencies, a Supervisor of Currency Exchanges, a
Supervisor of Title Insurance, and a Supervisor of Credit
Unions. The respective Supervisors Supervisor shall be
appointed by and responsible to the Director and shall be
administratively responsible within the Department for the
financial institutions and title insurance entities to which
their appointments pertain.
(Source: Laws 1967, p. 2211.)
    Section 10. The Currency Exchange Act is amended by
changing Section 14 as follows:
    (205 ILCS 405/14)  (from Ch. 17, par. 4823)
    Sec. 14. Every licensee, shall, on or before November 15,
pay to the Secretary the annual license fee or fees for the
next succeeding calendar year and shall at the same time file
with the Secretary the annual report required by Section 16 of
this Act, and the annual bond or bonds, and the insurance
policy or policies as and if required by this Act. The annual
license fee for each community currency exchange shall be $400
for each licensee and $400 for each additional licensed
location. The annual license fee for each location served by an
ambulatory currency exchange shall be $25.
(Source: P.A. 99-445, eff. 1-1-16.)
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 7/15/2016