(205 ILCS 657/15)
The following are exempt from the
licensing requirements of this Act:
(1) The United States and any department or agency of
(2) This State and any political subdivision of this
(3) Banks, trust companies, building and loan
associations, savings and loan associations, savings banks, or credit unions, licensed or organized under the laws of any state or of the United States and any foreign bank maintaining a branch or agency licensed or organized under the laws of any state or of the United States.
(4) Currency exchanges licensed under the Currency
Exchange Act are exempt from licensing only for (i) the issuance of money orders or (ii) the sale, loading, or unloading of stored value cards.
(5) Corporations and associations exempt under item
(3) or (4) from the licensing requirements of this Act are not exempt from approval by the Director as authorized sellers. Nothing in this Act shall be deemed to enlarge the powers of those corporations and associations.
(Source: P.A. 97-511, eff. 8-23-11.)