Illinois Compiled Statutes 205 Financial Regulation: Article -
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 0.1
Short Title. This Act shall be known and may be cited as the Currency Exchange Act. (Source: P.A. 91-533, eff. 8-13-99.)
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 1
Definitions; application of Act. (a) For the purposes of this Act: "Community currency exchange" means any person, firm, association, partnership, limited liability company, or corporation,...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 2
License required; violation; injunction. No person, firm, association, partnership, limited liability company, or corporation shall engage in the business of a community currency exchange or...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 3
Powers of community currency exchanges. No community or ambulatory currency exchange shall be permitted to accept money or evidences of money as a deposit to...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 3.1
Nothing in this Act shall prevent a currency exchange from rendering State or Federal income tax service; nor shall the rendering of such service be...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 3.2
Community currency exchanges and ambulatory currency exchanges may engage in the distribution of Supplemental Nutrition Assistance Program (SNAP) benefits in accordance with such regulations as...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 3.3
Additional public services. (a) Nothing in this Act shall prevent the Secretary from authorizing a currency exchange, group of currency exchanges, or association of currency...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 4
License application; contents; fees. Application for such license shall be in writing under oath and in the form prescribed and furnished by the Secretary. Each...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 4.1
The General Assembly finds and declares that community currency exchanges provide important and vital services to Illinois citizens, that the number of community currency exchanges...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 4.2
Whensoever the ownership of any Currency Exchange, theretofore licensed under the provisions of this Act, shall be held or contained in any estate subject to...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 4.3
Upon receipt of an application from an ambulatory currency exchange for the conduct of its business at a location to be served by it, the...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 5
Bond; condition; amount. (a) Before any license shall be issued to a community currency exchange the applicant shall file annually with and have approved by...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 6
Insurance against loss. (a) Every applicant for a license hereunder shall, after his application for a license has been approved, file with and have approved...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 7
Available funds; minimum amount. Each community currency exchange shall have, at all times, a minimum of $5,000 of its own cash funds available for the...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 8
A community or an ambulatory currency exchange shall not be conducted as a department of another business. It must be an entity, financed and...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 9
No community or ambulatory currency exchange shall issue tokens to be used in lieu of money for the purchase of goods or services from...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 10
Qualifications of applicant; denial of license; review. The applicant, and its officers, directors and stockholders, if a corporation, and its managers and members, if a...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 10.1
(Repealed). (Source: Laws 1957, p. 320. Repealed by P.A. 97-315, eff. 1-1-12.)
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 11
Such license, if issued for a community currency exchange, shall state the name of the licensee and the address at which the business is to...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 12
If the Secretary shall find at any time that the bond required by Section 5 is insecure or exhausted or otherwise doubtful, an additional bond...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 13
No more than one place of business shall be maintained under the same community currency exchange license, but the Secretary may issue more than one...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 13.1
Consolidation of business locations. Whenever 2 or more licensees desire to consolidate their places of business, they shall make application for such consolidation to the...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 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...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 14.1
All moneys received by the Department under this Act shall be deposited in the Financial Institution Fund created under Section 6z-26 of the State Finance...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 15
The Secretary may, after 15 days notice by registered or certified mail to the licensee at the address set forth in the license stating the...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 15.1
If the Secretary determines that any licensee is insolvent or is violating this Act, or if the owner, executor, or successor in interest of a...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 15.1a
If the Secretary determines that a business in receivership should be liquidated, he shall direct the Attorney General to file a complaint in the Circuit...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 15.1b
Liquidation; distribution; priority. The General Assembly finds and declares that community currency exchanges provide important and vital services to Illinois citizens. The General Assembly also...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 15.1c
Powers of receiver. Upon the order of the circuit court of the county wherein the community currency exchange being liquidated is located, the receiver...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 15.1d
At the close of a receivership, the receiver shall turn over to the Secretary all books of account and ledgers of such currency exchange for...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 15.1e
Upon the filing of a complaint by the Attorney General for the orderly liquidation and dissolution of a community currency exchange, as provided in...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 15.2
No community currency exchange shall determine its affairs and close up its business unless it shall first deposit with the Secretary an amount of money...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 16
Annual report; investigation; costs. (a) Each licensee shall annually, on or before the 1st day of March, file a report with the Secretary for the...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 17
Every licensee shall keep and use in his business such books, accounts and records as will enable the Secretary to determine whether such licensee is...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 18
The applicant for a community currency exchange license shall have a permanent address as evidenced by a lease of at least six months duration or...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 19
The Department may make and enforce such reasonable rules, directions, orders, decisions and findings as the execution and enforcement of the provisions of this Act...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 19.1
Whenever an ambulatory currency exchange shall be actively engaged in the cashing of checks other than from within an armored vehicle, such currency exchange...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 19.3
(A) The General Assembly hereby finds and declares: community currency exchanges and ambulatory currency exchanges provide important and vital services to Illinois citizens. In so...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 19.4
The fees charged by community and ambulatory currency exchanges for rendering any service authorized by this Act shall be prominently displayed on the premises of...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 20
Every person having taken an oath in any proceeding or matter wherein an oath is required by this Act, who shall swear willfully, corruptly or...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 21
Except as otherwise provided for in this Act, whenever the Secretary is required to give notice to any applicant or licensee, such requirement shall be...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 22.01
All final administrative decisions of the Secretary hereunder shall be subject to judicial review pursuant to the provisions of the Administrative Review Law, and all...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 22.03
(Repealed). (Source: P.A. 87-258. Repealed by P.A. 97-315, eff. 1-1-12.)
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 23
If any licensee, or agent or employee of a licensee, fraudulently takes and secretes any money, note, bill, bond or other property belonging to...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 24
Violations. Any person, firm, association, partnership, limited liability company, or corporation who or which shall violate any provision of this Act for which no...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 25
(Repealed). (Source: Laws 1957, p. 320. Repealed by P.A. 97-315, eff. 1-1-12.)
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 27
Nothing contained in this Act shall be construed so as to limit the power of municipalities, to license and tax community currency exchanges, and...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 28
Unless an ambulatory currency exchange shall engage in the business of selling or issuing money orders under his, their or its name, or any...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 29
The operation of any unlicensed community or ambulatory currency exchange, or the unlawful conduct or operation of any licensed community or ambulatory currency exchange,...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 29.5
Cease and desist. The Secretary may issue a cease and desist order to any currency exchange or other person doing business without the required license,...
- Illinois Currency Exchange Act. - 205 ILCS 405, Section 30
If any part or provision of this Act shall be declared unconstitutional, the unconstitutionality of such part or provision shall not invalidate the constitutional...
Last modified: February 18, 2015