Section 1480.20  Repossession Agency Licensure

a)         Applications for repossession agency licensure shall be filed on forms and contain the information prescribed by the Commission. Incomplete or incorrect applications for repossession agency licensure shall be refused or rejected by the Commission.

b)         Applicants for repossession agency licensure shall submit, along with their applications:

1)         Copies of government-issued photo identification such as a driver's license, state identification card, or passport for all persons required to submit personal photo identification under the Act; and

2)         Copies of registration cards to all vehicles owned or leased that shall be utilized under the repossession agency license.

c)         Applicants for repossession agency licensure shall disclose on their applications:

1)         Any civil judgments entered in the 5 years preceding the date of application by any legal forum other than the Commission arising from conduct while performing repossessions against the applicant or any individual required by Section 60 of the Act to submit to a criminal background check as part of the licensure process;

2)         Make, model, year, plate number and VIN of vehicles that the applicant intends to utilize under the repossession agency license; and

3)         Financial condition of the applicant as represented by the completed financial statement included with the application.  The financial statement shall consist of a balance sheet and a projected income statement for a period of one year.  A professionally prepared financial statement or profit/loss report may be substituted for the financial statement included in the application if it contains information substantially similar to that requested by the Commission and is certified by an appropriately licensed accountant or accounting firm.

d)         The Commission shall review applications for repossession agency licensure to determine whether the applicant has satisfied the fitness criteria contained in the Act and this Part.  If, upon review of an application, the Commission discovers that the applicant or any individual required to submit to a criminal background check as part of the licensure process has been convicted of any crime under the laws of the United States or any state or territory of the United States that is a felony, a misdemeanor an essential element of which is dishonesty, or a crime related to the practice of the profession [225 ILCS 422/80], the matter shall be set for an administrative hearing before an Administrative Law Judge to assist the Commission in determining whether the applicant is unfit by reason of conviction.

e)         At the hearing, the applicant shall have the burden of proving fitness by clear and convincing evidence.