TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER I: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 110 CONSUMER INSTALLMENT LOAN ACT
SECTION 110.180 OFFICE AND OFFICE HOURS


 

Section 110.180  Office and Office Hours

 

Every licensee shall maintain a place of business to which the general public shall have free access and where all obligations entered into shall be payable.

 

a)         Except as provided in subsection (c), or otherwise authorized by the Division, each licensed office shall be open not less three consecutive hours between 8:00 A.M. and 6:00 P.M. on every business day, except Saturdays, Sundays and legal holidays, during the term of the license, and the licensee shall file with the Division a schedule of the hours during which it elects to keep such office open, provided that any licensee may keep its office open for any period it sees fit in addition to the hours listed in such schedule.

 

b)         Whenever a licensee desires to change the schedule of hours during which its office shall remain open then on file with the Division, it may do so upon filing with the Division a schedule setting forth such change of time at least three days before such change shall go into effect. The schedule of hours shall be prominently displayed in the place of business of the licensee.

 

c)         If any payment of principal or interest, or both, shall be due on any obligations to such licensee on any closed day, then such payment shall be considered for all purposes, including the computation of interest, as having been received on the closed day, if such payment shall be received, whether through the mail or otherwise, at any time before the close of business on the next regular business day following the closed day.

 

d)         The license of each licensee and the Annual License Fee Renewal Certificate shall be prominently displayed and be made available for easy reading by the public in the place of business of the licensee.

 

(Source:  Amended at 30 Ill. Reg. 12558, effective July 7, 2006)