Illinois General Assembly - Illinois Compiled Statutes

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815 ILCS 605/9

(815 ILCS 605/9) (from Ch. 121 1/2, par. 2109)

Sec. 9.

(a) A credit services organization shall file a registration
statement with the Secretary of State before conducting business in this
State.  The registration statement shall contain:

(1) the name and address of the credit services organization;

(2) the name and address of the registered agent authorized to accept
service of process on behalf of the credit services organization;

(3) the name and address of any person who directly or indirectly owns
or controls 10 percent or more of the outstanding shares of stock in the
credit services organization; and

(4) the name, numbers, and location of the surety company issuing a
surety bond maintained as required by Section 10 of this Act.

(b) The registration statement must also contain either:

(1) a full and complete disclosure of any litigation or unresolved
complaint filed with a governmental authority of this State, any other
state or the United States
relating to the operation of the credit services organization; or

(2) a notarized statement that states that there has been no litigation
or unresolved complaint filed with a governmental authority of this State,
any other state or the
United States relating to the operation of the credit services organization.

(c) The credit services organization shall update such statement not
later than the 90th day after the date on which a change in the information
required in the statement occurs.

(d) Each credit services organization registering under this Section
shall maintain a copy of the registration statement in their files.  The
credit services organization shall allow a buyer to inspect the
registration statement on request.

(e) The Secretary of State may charge each credit services organization
that files a registration statement a reasonable fee not to exceed $100 to
cover the cost of filing.

(Source: P.A. 85-1384.)