(225 ILCS 422/40)
(Section scheduled to be repealed on January 1, 2022)
Sec. 40. Qualifications for recovery manager; identification card.
(a) An applicant is qualified for licensure as a recovery manager if that person meets all of the following requirements:
(1) Is 21 years of age or older.
(2) Has not been convicted in any jurisdiction of
any felony or at least 10 years has passed from the time of discharge from any sentence imposed for a felony.
(3) Has completed no less than 2,500 hours of actual
compensated collateral recovery work as an employee of a repossession agency, a financial institution, or a vehicle dealer within the 5 years immediately preceding the filing of an application, acceptable proof of which must be submitted to the Commission.
(4) Has submitted to the Commission 2 sets of
fingerprints, which shall be checked against the fingerprint records on file with the Illinois State Police and the Federal Bureau of Investigation in the manner set forth in Section 60 of this Act.
(5) Has successfully completed a certification
program approved by the Commission.
(6) Has paid the required application fees.
(b) Upon the issuance of a recovery manager license, the Commission shall issue the license holder a suitable pocket identification card that shall include a photograph of the license holder. The identification card must contain the name of the license holder and any other information required by the Commission. An applicant who is 21 years of age or older seeking a religious exemption to the photograph requirement of this subsection shall furnish with his or her application an approved copy of United States Department of the Treasury Internal Revenue Service Form 4029.
(c) A recovery manager license is not transferable.
(Source: P.A. 97-576, eff. 7-1-12; 98-848, eff. 1-1-15.)
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Last modified: February 18, 2015