Illinois Compiled Statutes 205 Financial Regulation: Article -

• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 1
  Short title. This Act may be cited as the Transmitters of Money Act. (Source: P.A. 88-643, eff. 1-1-95.)
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 5
  Definitions. As used in this Act, unless the context otherwise requires, the words and phrases defined in this Section have the meanings set forth...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 10
  License required. No person may engage in this State in the business of selling or issuing payment instruments, transmitting money, or exchanging, for compensation,...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 15
  Exemptions. The following are exempt from the licensing requirements of this Act: (1) The United States and any department or agency of the United States....
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 20
  Qualifications for a license. (a) In order to obtain a license under this Act, an applicant must prove to the satisfaction of the Director...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 25
  Application for license. (a) An application for a license must be in writing, under oath, and in the form the Director prescribes. The application...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 30
  Surety bond. (a) An applicant for a license shall post and a licensee must maintain with the Director a bond or bonds issued by...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 35
  Issuance of license. (a) On the filing of a complete application, the Director shall investigate the financial condition and responsibility, financial and business experience,...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 37
  Display of disclosure notice. (a) Each authorized seller shall conspicuously display a disclosure notice supplied by the licensee; each licensee that transmits money directly...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 40
  Renewals of license. As a condition for renewal of a license, a licensee must submit to the Director, and the Director must receive, on...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 45
  Fees. (a) The Director shall charge and collect fees, which shall be nonrefundable unless otherwise indicated, in accordance with the provisions of this Act as...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 50
  Permissible investments. (a) A licensee shall maintain at all times permissible investments that have an aggregate market value computed in accordance with generally accepted...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 55
  Reporting; examination; investigation. (a) The Director may require from a licensee any reports, under penalty of perjury, concerning the licensee's or its authorized seller's...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 60
  Records maintenance. (a) A licensee shall keep and use in its business books, accounts, and records in accordance with generally accepted accounting principles that...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 65
  Notice of source of instrument; transaction records. (a) Every payment instrument other than a stored value card sold through an authorized seller shall bear...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 70
  Confidentiality of data. (a) Reports of investigation and examination, other reports rendered under this Act, and correspondence and memoranda concerning or arising out of...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 75
  Authorized sellers. (a) A licensee may conduct the business regulated under this Act at one or more locations in this State through authorized sellers...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 80
  Revocation or suspension of licenses. (a) The Director may suspend or revoke a license if the Director finds any of the following: (1) The...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 85
  Liability of licensees. A licensee is liable for the payment of all moneys covered by payment instruments that it sells or issues in any...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 90
  Enforcement. (a) If it appears to the Director that a person has committed or is about to commit a violation of this Act, a...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 92
  Receivership. (a) If the Director determines that a licensee is insolvent or is violating this Act, he or she may appoint a receiver. Under...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 93
  Consumer Protection Fund. (a) A special income-earning fund is hereby created in the State treasury, known as the TOMA Consumer Protection Fund. (b) All moneys...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 95
  Rules. The Director may adopt rules as needed to implement, interpret, and enforce the provisions of this Act. (Source: P.A. 88-643, eff. 1-1-95.)
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 100
  Consent to service of process. (a) A licensee, before doing business in this State, shall appoint the Director its true and lawful attorney-in-fact upon...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 105
  Sale of Exchange Act; Foreign Exchange License Act; existing licensees. Notwithstanding any other provision of this Act, licensees under the Sale of Exchange Act...
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 900
  The Foreign Exchange License Act is repealed. (Source: P.A. 88-643, eff. 1-1-95.)
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 905
  The Sale of Exchange Act is repealed. (Source: P.A. 88-643, eff. 1-1-95.)
• Illinois Financial Regulation: Article -
  Amendatory provisions; text omitted
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 910
  (Amendatory provisions; text omitted). (Source: P.A. 88-643, eff. 1-1-95; text omitted.)
• Illinois Financial Regulation: Article -
  Amendatory provisions; text omitted
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 915
  (Amendatory provisions; text omitted). (Source: P.A. 88-643, eff. 1-1-95; text omitted.)
• Illinois Financial Regulation: Article -
  Amendatory provisions; text omitted
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 930
  (Amendatory provisions; text omitted). (Source: P.A. 88-643, eff. 1-1-95; text omitted.)
• Illinois Financial Regulation: Article -
  Amendatory provisions; text omitted
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 935
  (205 ILCS 657/935) Sec. 935. (Amendatory provisions; text omitted). (Source: P.A. 88-643, eff. 1-1-95; text omitted.)
• Illinois Financial Regulation: Article -
  Amendatory provisions; text omitted
• Illinois Transmitters of Money Act. - 205 ILCS 657, Section 940
  (Amendatory provisions; text omitted). (Source: P.A. 88-643, eff. 1-1-95; text omitted.)

Last modified: February 18, 2015