Section 1019.10  Application for Remittance Agency License and Renewal

a)         If a person wishes to become a remittance agent, he/she shall file an application and bond pursuant to Sections 3-904 and 3-905 of the Illinois Vehicle Title & Registration Law of the Illinois Vehicle Code (Ill. Rev. Stat. 1987, ch. 95½, pars. 3-904 and 3-905).  The application shall be filed with the Office of the Secretary of State as set forth in subsection (g) of this Section.

b)         The notarized application shall contain the following information:

1)         the previous year's license number if the person is currently licensed as a remittance agent;

2)         the name of the business;

3)         the location of the business;

4)         the applicant's home address, home telephone number and business telephone number;

5)         the applicant's business, occupation or profession;

6)         the total amount of cash, checks or money orders made payable to the remitter received for remittance to the State in the highest 15 day period in the preceding year if the person is currently licensed;

7)         whether the applicant, a member of his/her immediate family, or any employee of the applicant is an employee of the Secretary of State;

8)         whether the applicant has ever been involved in civil or criminal litigation and if so, the type of litigation, the date and suit or charge, the court in which the matter was heard, the style or caption of the case, the disposition of the matter, and if the judgment has been satisfied; and

9)         a list of the employees.

c)         A surety bond shall be posted for each location that the applicant intends to do business as a remittance agent.  Each bond shall be for $10,000 or in the amount of cash, checks or money orders made payable to the remitter received for remittance to the Department during the highest 15 day period in the year preceding the year for which the license is applied, whichever is greater.  The bond shall be issued by a bonding or insurance company authorized to do business in Illinois.  The Department shall use a list issued by the Department of Insurance to determine if the bonding or insurance company is authorized to issue the bond.

d)         The applicant shall also submit the statutory fee provided in Section 3-905 of the Illinois Vehicle Title & Registration Law of the Illinois Vehicle Code for application.  A license is issued for a period of one year terminating on December 31 each year.

e)         A remittance agent wishing to renew his/her license shall submit the material required by this Section to the Department between September 1 and December 31 of the year before the new license will become effective.

f)         All remittance agent license applications and corresponding materials should be submitted to:

            Office of the Secretary of State

            Special Services Division

            Centennial Building, Room 108

            Springfield, Illinois 62756

g)         The Department will make available the application form to any person who requests one.  Only the Department's form shall be accepted to apply for a license to operate as a remittance agent.