State of Illinois
2015 and 2016


Introduced 2/20/2015, by Sen. Don Harmon


205 ILCS 405/1  from Ch. 17, par. 4802
205 ILCS 405/2  from Ch. 17, par. 4803
205 ILCS 405/3  from Ch. 17, par. 4804
205 ILCS 405/3.3  from Ch. 17, par. 4807
205 ILCS 405/4  from Ch. 17, par. 4808
205 ILCS 405/4.1  from Ch. 17, par. 4809
205 ILCS 405/4.1B new
205 ILCS 405/5  from Ch. 17, par. 4812
205 ILCS 405/6  from Ch. 17, par. 4813
205 ILCS 405/7  from Ch. 17, par. 4814
205 ILCS 405/9  from Ch. 17, par. 4816
205 ILCS 405/10  from Ch. 17, par. 4817
205 ILCS 405/11  from Ch. 17, par. 4819
205 ILCS 405/13  from Ch. 17, par. 4821
205 ILCS 405/14  from Ch. 17, par. 4823
205 ILCS 405/15  from Ch. 17, par. 4824
205 ILCS 405/17  from Ch. 17, par. 4833
205 ILCS 405/18  from Ch. 17, par. 4834
205 ILCS 405/21  from Ch. 17, par. 4841
205 ILCS 405/29.5

    Amends the Currency Exchange Act. Makes changes in provisions concerning the definitions under the Act, licensure requirements, powers of community currency exchanges, additional services, license applications, fees, anti-money laundering requirements, bonds, insurance against loss, fines, revocation of licenses, and violations. Effective immediately.

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SB1882LRB099 08659 MGM 28824 b

1    AN ACT concerning regulation.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Currency Exchange Act is amended by changing
5Sections 1, 2, 3, 3.3, 4, 4.1, 5, 6, 7, 9, 10, 11, 13, 14, 15,
617, 18, 21, and 29.5 and by adding Section 4.1B as follows:
7    (205 ILCS 405/1)  (from Ch. 17, par. 4802)
8    Sec. 1. Definitions; application of Act.
9    (a) For the purposes of this Act:
10    "Community currency exchange" means any person, firm,
11association, partnership, limited liability company, or
12corporation, except an ambulatory currency exchange as
13hereinafter defined, banks incorporated under the laws of this
14State and National Banks organized pursuant to the laws of the
15United States, engaged in the business or service of, and
16providing facilities for, cashing checks, drafts, money orders
17or any other evidences of money acceptable to such community
18currency exchange, for a fee or service charge or other
19consideration, or engaged in the business of selling or issuing
20money orders under his or their or its name, or any other money
21orders (other than United States Post Office money orders,
22Postal Telegraph Company money orders, or Western Union
23Telegraph Company money orders), or engaged in both such



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1businesses, or engaged in performing any one or more of the
2foregoing services.
3    "Controlling person" means an officer, director, or person
4owning or holding power to vote 10% or more of the outstanding
5voting securities of a licensee or the power to vote the
6securities of another controlling person of the licensee. For
7the purposes of determining the percentage of a licensee
8controlled by a controlling person, the person's interest shall
9be combined with the interest of any other person controlled,
10directly or indirectly, by that person or by a spouse, parent,
11or child of that person.
12    "Department" means the Department of Financial and
13Professional Regulation.
14    "Director" means the Director of the Division of Financial
15Institutions of the Department of Financial and Professional
17    "Division of Financial Institutions" means the Division of
18Financial Institutions of the Department of Financial and
19Professional Regulation.
20    "Ambulatory Currency Exchange" means any person, firm,
21association, partnership, limited liability company, or
22corporation, except banks organized under the laws of this
23State and National Banks organized pursuant to the laws of the
24United States, engaged in one or both of the foregoing
25businesses, or engaged in performing any one or more of the
26foregoing services, solely on the premises of the employer



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1whose employees are being served.
2    "Licensee" means any person, firm, association,
3partnership, limited liability company, or corporation issued
4one or more licenses by the Secretary under this Act.
5    "Licensed location" means the premises at which a licensee
6is authorized to operate a community currency exchange to offer
7to the public services, products, or activities under this Act.
8    "Location" when used with reference to an ambulatory
9currency exchange means the premises of the employer whose
10employees are or are to be served by an ambulatory currency
12    "Principal office" means the physical business address,
13which shall not be a post office box, of a licensee at which
14the (i) Department may contact the licensee and (ii) records
15required under this Act are maintained.
16    "Secretary" means the Secretary of Financial and
17Professional Regulation or a person authorized by the Secretary
18or this Act to act in the Secretary's stead. All references in
19this Act to the Secretary shall be deemed to include the
20Director, as a person authorized by the Secretary or this Act
21to assume responsibility for the oversight of the functions of
22the Department relative to the regulatory supervision of
23community currency exchanges and ambulatory currency exchanges
24under this Act.
25    (b) Nothing in this Act shall be held to apply to any
26person, firm, association, partnership, limited liability



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1company, or corporation who is engaged primarily in the
2business of transporting for hire, bullion, currency,
3securities, negotiable or non-negotiable documents, jewels or
4other property of great monetary value and who in the course of
5such business and only as an incident thereto, cashes checks,
6drafts, money orders or other evidences of money directly for,
7or for the employees of and with the funds of and at a cost only
8to, the person, firm, association, partnership, limited
9liability company, or corporation for whom he or it is then
10actually transporting such bullion, currency, securities,
11negotiable or non-negotiable documents, jewels, or other
12property of great monetary value, pursuant to a written
13contract for such transportation and all incidents thereof, nor
14shall it apply to any person, firm, association, partnership,
15limited liability company, or corporation engaged in the
16business of selling tangible personal property at retail who,
17in the course of such business and only as an incident thereto,
18cashes checks, drafts, money orders or other evidences of
20(Source: P.A. 97-315, eff. 1-1-12.)
21    (205 ILCS 405/2)  (from Ch. 17, par. 4803)
22    Sec. 2. License required; violation; injunction. No
23person, firm, association, partnership, limited liability
24company, or corporation shall engage in the business of a
25community currency exchange or in the business of an ambulatory



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1currency exchange without first securing a license to do so
2from the Secretary.
3    Any licensee person, firm, association, partnership,
4limited liability company, or corporation issued a license to
5do so by the Secretary shall have authority to operate one or
6more a community currency exchanges exchange or an ambulatory
7currency exchanges exchange, as defined in Section 1 of this
8Act hereof.
9    Any licensee person, firm, association, partnership,
10limited liability company, or corporation licensed as and
11engaged in the business of a community currency exchange shall
12at a minimum offer the service of cashing checks, or drafts, or
13money orders, or any other evidences of money acceptable to
14such currency exchange.
15    No ambulatory currency exchange and no community currency
16exchange shall be conducted on any street, sidewalk or highway
17used by the public, and no license shall be issued therefor. An
18ambulatory currency exchange shall be required to and shall
19secure a license or licenses for the conduct of its business at
20each and every location served by it, as provided in Section 4
21hereof, whether the services at any such location are rendered
22for or without a fee, service charge or other consideration.
23Each plant or establishment is deemed a separate location. No
24license issued for the conduct of its business at one location
25shall authorize the conduct of its business at any other
26location, nor shall any license authorize the rendering of



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1services by an ambulatory currency exchange to persons other
2than the employees of the employer named therein. If the
3employer named in such license shall move his business from the
4address therein set forth, such license shall thereupon expire,
5unless the Secretary has approved a change of address for such
6location, as provided in Section 13.
7    Any person, firm, association, partnership, limited
8liability company, or corporation that violates this Section
9shall be guilty of a Class A misdemeanor, and the Attorney
10General or the State's Attorney of the county in which the
11violation occurs shall file a complaint in the Circuit Court of
12the county to restrain the violation.
13(Source: P.A. 97-315, eff. 1-1-12.)
14    (205 ILCS 405/3)  (from Ch. 17, par. 4804)
15    Sec. 3. Powers of community currency exchanges. No
16community or ambulatory currency exchange shall be permitted to
17accept money or evidences of money as a deposit to be returned
18to the depositor or upon the depositor's order. No community or
19ambulatory currency exchange shall be permitted to act as
20bailee or agent for persons, firms, partnerships, limited
21liability companies, associations or corporations to hold
22money or evidences thereof or the proceeds therefrom for the
23use and benefit of the owners thereof, and deliver such money
24or proceeds of evidence of money upon request and direction of
25such owner or owners. Nothing in this Act shall prevent a



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1currency exchange from accepting any check without regard to
2the date imprinted on the check, subject to Section 4-404 of
3the Uniform Commercial Code, as long as the check is
4immediately cashed, deposited, and processed in the ordinary
5course of business. A community or ambulatory currency exchange
6is permitted to engage in, and charge a fee for, the following
7activities, either directly or as a third-party agent: (i)
8cashing of checks, drafts, money orders, or any other evidences
9of money acceptable to the currency exchange, (ii) selling or
10issuing money orders, (iii) obtaining reports, certificates,
11governmental permits, licenses, and vital statistics and the
12preparation of necessary applications to obtain the same, (iv)
13the sale and distribution of bond cards, (v) obtaining,
14distributing, providing, or selling: State vehicle
15registration renewals, title transfers and tax remittance
16forms, city vehicle licenses, and other governmental services,
17(vi) photocopying and sending and receiving facsimile
18transmissions, (vii) notary service either by the proprietor of
19the currency exchange or any currency exchange employee,
20authorized by the State to act as a notary public, (viii)
21issuance of travelers checks obtained by the currency exchange
22from a banking institution under a trust receipt, (ix)
23accepting for payment utility and other companies' bills, (x)
24issuance and acceptance of any third-party debit, credit, or
25stored value card and loading or unloading, (xi) on-premises
26automated cash dispensing machines, (xii) sale of rolled coin



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1and paper money, (xiii) exchange of foreign currency through a
2third-party, (xiv) sale of cards, passes, or tokens for public
3transit, (xv) providing mail box service, (xvi) sale of phone
4cards and other pre-paid telecommunication services, (xvii)
5on-premises public telephone, (xviii) sale of U.S. postage,
6(xix) money transmission through a licensed third-party money
7transmitter, (xx) sale of candy, gum, other packaged foods,
8soft drinks, and other products and services by means of
9on-premises vending machines and self-service automated
10terminals, and (xxi) transmittal of documents or information
11upon the request of a consumer, (xxii) advertising upon and
12about the premises and distribution to consumers of advertising
13and other materials of any legal product or service that is not
14misleading to the public, (xxiii) providing access to consumers
15of third-party travel reservation and ticketing services, and
16(xxiv) other products and services as may be approved by the
17Secretary. Any community or ambulatory currency exchange may
18enter into agreements with any utility and other companies to
19act as the companies' agent for the acceptance of payment of
20utility and other companies' bills without charge to the
21customer and, acting under such agreement, may receipt for
22payments in the names of the utility and other companies. Any
23community or ambulatory currency exchange may also receive
24payment of utility and other companies' bills for remittance to
25companies with which it has no such agency agreement and may
26charge a fee for such service but may not, in such cases, issue



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1a receipt for such payment in the names of the utility and
2other companies. However, funds received by currency exchanges
3for remittance to utility and other companies with which the
4currency exchange has no agency agreement shall be forwarded to
5the appropriate utility and other companies by the currency
6exchange before the end of the next business day.
7    For the purpose of this Section, "utility and other
8companies" means any utility company and other company with
9which the currency exchange may or may not have a contractual
10agreement and for which the currency exchange accepts payments
11from consumers for remittance to the utility or other company
12for the payment of bills.
13(Source: P.A. 97-315, eff. 1-1-12.)
14    (205 ILCS 405/3.3)  (from Ch. 17, par. 4807)
15    Sec. 3.3. Additional public services.
16    (a) Nothing in this Act shall prevent the Secretary from
17authorizing a currency exchange, group of currency exchanges,
18or association of currency exchanges to render additional
19services to the public if the services are consistent with the
20provisions of this Act, are within its meaning, are in the best
21interest of the public, and benefit the general welfare. For
22the purposes of this Section, any lawful service shall be
23presumed to be consistent with the provisions of this Act, in
24the best interest of the public, and benefit the general
25welfare. A currency exchange, group of currency exchanges, or



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1association of currency exchanges must request, in writing, the
2Secretary's approval of the additional service prior to
3rendering such additional service to the public. Any approval
4under this Section shall be deemed an approval for all currency
5exchanges. Any currency exchange wishing to provide an
6additional service previously approved by the Secretary must
7provide written notice, on a form provided by the Department
8and available on its website, to the Secretary 30 days prior to
9offering the approved additional service to the public. The
10Secretary may charge an additional service investigation fee of
11$500 per application for a new additional service request. The
12additional service request shall be on a form provided by the
13Department and available on the Department's website. Within 15
14days after receipt by the Department of an additional service
15request, the Secretary shall examine the additional service
16request for completeness and notify the requester of any
17defect. The requester must remedy the defect within 10 days
18after the mailing of the notification of the defect by the
19Secretary. Failure to remedy the defect within such time will
20void the additional service request. If the Secretary
21determines that the additional service request is complete, the
22Secretary shall have 60 business days to approve or deny the
23additional service request. If the additional service request
24is denied, the Secretary shall send by United States mail
25notice of the denial to the requester at the address set forth
26in the additional service request, together with the reasons



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1therefor stated with particularity that the additional service
2is not consistent with the provisions of this Act or in the
3best interest of the public and does not benefit the general
4welfare. If an additional service request is denied, the
5requester may, within 10 days after receipt of the denial, make
6a written request to the Secretary for a hearing on the
7additional service request denial. The hearing shall be set for
8a date after the receipt by the Secretary of the request for a
9hearing, and written notice of the time and place of the
10hearing shall be mailed to the requester no later than 15 days
11before the date of the hearing. The hearing shall be scheduled
12for a date within 56 days after the date of the receipt of the
13request for a hearing. The requester shall pay the actual cost
14of making the transcript of the hearing prior to the
15Secretary's issuing his or her decision following the hearing.
16If the Secretary denies the request for a new additional
17service, a currency exchange shall not offer the new additional
18service until a final administrative order has been entered
19permitting a currency exchange to offer the service. The
20Secretary's decision may be subject to review as provided in
21Section 22.01 of this Act. If the Secretary revokes a
22previously approved authorization for an additional service
23request, the Secretary shall provide written notice to all
24affected currency exchange licensees, together with the
25reasons therefor stated with particularity, that the
26additional service is no longer consistent with the provisions



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1of this Act or in the best interest of the public and does not
2benefit the general welfare. Upon receipt of the revocation
3notice, a currency exchange licensee, group of currency
4exchange licensees, or association of currency exchanges shall
5have 10 days to make a written request to the Secretary for a
6hearing, and the Department shall have 30 business days to
7schedule a future hearing. Written notice of the time and place
8of the hearing shall be mailed to the licensee no later than 10
9business days before the date of the hearing. The licensee
10shall pay the actual cost of making the transcript prior to the
11Secretary's issuing his or her decision following the hearing.
12The Secretary's decision is subject to review as provided in
13Section 22.01 of this Act.
14    (b) (Blank).
15    (c) If the Secretary revokes authorization for a previously
16approved additional service, the currency exchange may
17continue to offer the additional service until a final
18administrative order has been entered revoking the licensee's
19previously approved authorization.
20(Source: P.A. 97-315, eff. 1-1-12; 97-1111, eff. 8-27-12.)
21    (205 ILCS 405/4)  (from Ch. 17, par. 4808)
22    Sec. 4. License application; contents; fees. A licensee
23shall obtain a separate license for each licensed location.
24Application for such license shall be in writing under oath and
25in the form prescribed and furnished by the Secretary. Each



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1application shall contain the following:
2        (a) The applicant's full name and address (both of
3    residence and place of business) if the applicant is a
4    natural person, of the applicant, and if the applicant is a
5    partnership, limited liability company, or association, of
6    every member thereof, and the name and principal office
7    business address if the applicant is a corporation;
8        (b) The county and municipality, with street and
9    number, if any, where the community currency exchange is to
10    be conducted, if the application is for a community
11    currency exchange license;
12        (c) If the application is for an ambulatory currency
13    exchange license, the name and address of the employer at
14    each location to be served by it; and
15        (d) In the case of a licensee's initial license
16    application, the The applicant's occupation or profession;
17    a detailed statement of the applicant's business
18    experience for the 10 years immediately preceding the
19    application; a detailed statement of the applicant's
20    finances; the applicant's present or previous connection
21    with any other currency exchange; whether the applicant has
22    ever been involved in any civil or criminal litigation, and
23    the material facts pertaining thereto; whether the
24    applicant has ever been committed to any penal institution
25    or admitted to an institution for the care and treatment of
26    mentally ill persons; and the nature of applicant's



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1    occupancy of the premises to be licensed where the
2    application is for a community currency exchange license.
3    If the applicant is a partnership, the information
4    specified herein shall be required of each partner. If the
5    applicant is a corporation or limited liability company,
6    the said information shall be required of each controlling
7    person officer, director and stockholder thereof along
8    with disclosure of their ownership interests. If the
9    applicant is a limited liability company, the information
10    required by this Section shall be provided with respect to
11    each member and manager along with disclosure of their
12    ownership interests.
13    A licensee's initial community currency exchange license
14application shall be accompanied by a fee of $500, prior to
15January 1, 2012. After January 1, 2012 the fee shall be $750.
16After January 1, 2014 the fee shall be $1,000 for the cost of
17investigating the applicant. A licensee's application for
18licenses for additional licensed locations shall be
19accompanied by a fee of $1,000 for each additional license. If
20the ownership of a licensee or licensed location changes, in
21whole or in part, resulting in a change of ownership in excess
22of 20%, a new application must be filed pursuant to this
23Section along with a $500 fee if the licensee's ownership
24interests have been transferred or sold to a new person or
25entity or a fee of $300 if the licensee's ownership interests
26have been transferred or sold to a current holder or holders of



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1the licensee's ownership interests. When the application for a
2community currency exchange license has been approved by the
3Secretary and the applicant so advised, an additional sum of
4$400 as an annual license fee for a period terminating on the
5last day of the current calendar year shall be paid to the
6Secretary by the applicant; provided, that the license fee for
7an applicant applying for such a license after July 1st of any
8year shall be $200 for the balance of such year. Upon receipt
9of a community currency exchange license application, the
10Secretary shall examine the application for completeness and
11notify the applicant in writing of any defect within 20 days
12after receipt. The applicant must remedy the defect within 10
13days after the mailing of the notification of the defect by the
14Secretary. Failure to timely remedy the defect will void the
15application. Once the Secretary determines that the
16application is complete, the Secretary shall have 90 business
17days to approve or deny the application. If the application is
18denied, the Secretary shall send by United States mail notice
19of the denial to the applicant at the address set forth in the
20application. If an application is denied, the applicant may,
21within 10 days after the date of the notice of denial, make a
22written request to the Secretary for a hearing on the
23application. The hearing shall be set for a date after the
24receipt by the Secretary of the request for a hearing, and
25written notice of the time and place of the hearing shall be
26mailed to the applicant no later than 15 days before the date



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1of the hearing. The hearing shall be scheduled for a date
2within 56 days after the date of the receipt of the request for
3a hearing. The applicant shall pay the actual cost of making
4the transcript of the hearing prior to the Secretary's issuing
5his or her decision. The Secretary's decision is subject to
6review as provided in Section 22.01 of this Act.
7    An application for an ambulatory currency exchange license
8shall be accompanied by a fee of $100, which fee shall be for
9the cost of investigating the applicant. An approved applicant
10shall not be required to pay the initial investigation fee of
11$100 more than once. When the application for an ambulatory
12currency exchange license has been approved by the Secretary,
13and such applicant so advised, such applicant shall pay an
14annual license fee of $25 for each and every location to be
15served by such applicant; provided that such license fee for an
16approved applicant applying for such a license after July 1st
17of any year shall be $12 for the balance of such year for each
18and every location to be served by such applicant. Such an
19approved applicant for an ambulatory currency exchange
20license, when applying for a license with respect to a
21particular location, shall file with the Secretary, at the time
22of filing an application, a letter of memorandum, which shall
23be in writing and under oath, signed by the owner or authorized
24representative of the business whose employees are to be
25served; such letter or memorandum shall contain a statement
26that such service is desired, and that the person signing the



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1same is authorized so to do. The Secretary shall thereupon
2verify the authenticity of the letter or memorandum and the
3authority of the person who executed it, to do so.
4    The Department shall have 45 business days to approve or
5deny a currency exchange licensee's request to purchase another
6currency exchange.
7(Source: P.A. 97-315, eff. 1-1-12; 97-1111, eff. 8-27-12.)
8    (205 ILCS 405/4.1)  (from Ch. 17, par. 4809)
9    Sec. 4.1. Application; investigation; community need.
10    (a) The General Assembly finds and declares that community
11currency exchanges provide important and vital services to
12Illinois citizens, that the number of community currency
13exchanges should be limited in accordance with the needs of the
14communities they are to serve, and that it is in the public
15interest to promote and foster the community currency exchange
16business and to insure the financial stability thereof.
17    (b) Upon receipt of an application for a license for a
18community currency exchange, the Secretary shall cause an
19investigation to determine: of
20        (1) the need of the community for the establishment of
21    a community currency exchange at the location specified in
22    the application; and
23        (2) the effect that granting the license will have on
24    the financial stability of other community currency
25    exchanges that may be serving the community in which the



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1    business of the applicant is proposed to be conducted.
2    (c) "Community", as used in this Act, means a locality
3where there may or can be available to the people thereof the
4services of a community currency exchange reasonably
5accessible to them, but in no case less than a one-half mile
6radius from the location specified in an application for a
7license for a community currency exchange.
8    (d) If the issuance of a license to engage in the community
9currency exchange business at the location specified will not
10promote the needs and the convenience and advantage of the
11community in which the business of the applicant is proposed to
12be conducted, or would have a material and negative effect upon
13the financial stability of other currency exchanges as
14described in paragraph (2) of subsection (b) of this Section,
15then the application shall be denied.
16    Notwithstanding any other provision contained in this
17Section, the Secretary shall not approve an application to
18operate a new community currency exchange within a
19one-half-mile radius of any existing licensee located in any
20municipality with a population exceeding 500,000 or within a
21one-mile radius of any existing licensee located in any
22municipality with a population less than 500,000. This
23provision shall not require the Secretary to deny any
25        (1) from the purchaser of the place of business of a
26    licensee that was licensed before the effective date of



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1    this amendatory Act of the 99th General Assembly if the
2    purchaser will operate at the specific location occupied by
3    the existing licensee, or within 600 feet of that location;
4        (2) from a licensee requesting to relocate to within
5    600 feet of the address currently occupied by the licensee;
6    or
7        (3) from an applicant providing written waivers from
8    all existing licensees within the distance limits set forth
9    in this Section.
10    For the purposes of this subsection (d), a community
11currency exchange business will promote the needs and the
12convenience and advantage of the community if it will provide a
13benefit to that community.
14    (e) As a part of the investigation, the Secretary shall,
15within 10 business days after receipt of an application, notify
16in writing all currency exchanges as described in paragraph (2)
17of subsection (b) of this Section of the application and the
18proposed location. Within 10 business days after the notice,
19any currency exchange as described in paragraph (2) of
20subsection (b) of this Section may notify the Secretary it
21intends to protest the application. If the currency exchange
22intends to protest the application, then the currency exchange
23shall, within 30 days after notifying the Secretary, provide
24the Secretary with any information requested to substantiate
25that granting the license would have a material and negative
26effect upon the financial stability of the existing currency



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1exchange. Once the investigation is completed, the Secretary
2shall, within 10 business days thereafter, notify any currency
3exchange as described in paragraph (2) of subsection (b) of
4this Section of the determination to approve or deny the
5application. The determination shall sufficiently detail the
6facts that led to the determination.
7(Source: P.A. 97-315, eff. 1-1-12.)
8    (205 ILCS 405/4.1B new)
9    Sec. 4.1B. Anti-money laundering requirements.
10    (a) Every licensee shall comply with all State and federal
11laws, rules, and regulations relating to the detection and
12prevention of money laundering, including, as applicable, 31
13C.F.R. 103.20, 103.22, 103.23, 103.27, 103.28, 103.29, 103.33,
14103.37, and 103.41.
15    (b) Every licensee shall maintain an anti-money laundering
16program in accordance with 31 C.F.R. 103.125. The program shall
17be reviewed and updated as necessary to ensure that the program
18continues to be effective in detecting and deterring money
19laundering activities.
20    (205 ILCS 405/5)  (from Ch. 17, par. 4812)
21    Sec. 5. Bond; condition; amount.
22    (a) Before any license shall be issued to a licensee to
23operate a community currency exchange the applicant shall file
24annually with and have approved by the Secretary a surety bond,



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1issued by a bonding company authorized to do business in this
2State in the principal sum of $25,000 for each licensed
3location, up to a maximum aggregate principal sum of $350,000
4for each licensee regardless of the number of licenses held.
5Such bond shall run to the Secretary and shall be for the
6benefit of any creditors of such licensee currency exchange for
7any liability incurred by the licensee currency exchange on any
8money orders, including any fees and penalties incurred by the
9remitter should the money order be returned unpaid, issued or
10sold by the licensee in the ordinary course of its business
11currency exchange and for any liability incurred by the
12currency exchange for any sum or sums due to any payee or
13endorsee of any check, draft or money order left with the
14currency exchange in the ordinary course of its business for
15collection, and for any liability to the public incurred by the
16licensee in the ordinary course of its business currency
17exchange in connection with the rendering of any of the
18services referred to in Section 3 of this Act.
19    To protect the public and allow for the effective
20underwriting of bonds, the surety bond shall not cover money
21orders issued and other liabilities incurred by a currency
22exchange for its own account or that of its controlling
23persons, including money orders issued or liabilities incurred
24by the currency exchange to obtain cash for its own operations,
25to pay for the currency exchange's own bills or liabilities or
26that of its controlling persons, or to obtain things of value



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1for the currency exchange or its controlling persons,
2regardless of whether such things of value are used in the
3currency exchange's operations or sold by the currency
5    From time to time the Secretary may determine the amount of
6liabilities as described herein and shall require the licensee
7to file a bond in an additional sum if the same is determined
8to be necessary in accordance with the requirements of this
9Section. In no case shall the bond be less than the initial
10$25,000, nor more than the outstanding liabilities.
11    (b) In lieu of the surety bond requirements of subsection
12(a), a community currency exchange licensee may submit evidence
13satisfactory to the Secretary that the community currency
14exchange licensee is covered by a blanket bond that covers
15multiple licensees who are members of a statewide association
16of community currency exchanges or licensees. Such a blanket
17bond must be issued by a bonding company authorized to do
18business in this State and in a principal aggregate sum of not
19less than $3,000,000 as of May 1, 2012, and not less than
20$4,000,000 as of May 1, 2014.
21    (c) An ambulatory currency exchange may sell or issue money
22orders at any location with regard to which it is issued a
23license pursuant to this Act, including existing licensed
24locations, without the necessity of a further application or
25hearing and without regard to any exceptions contained in
26existing licenses, upon the filing with the Secretary of a



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1surety bond approved by the Secretary and issued by a bonding
2company or insurance company authorized to do business in
3Illinois, in the principal sum of $100,000. Such bond may be a
4blanket bond covering all locations at which the ambulatory
5currency exchange may sell or issue money orders, and shall run
6to the Secretary for the use and benefit of any creditors of
7such ambulatory currency exchange for any liability incurred by
8the ambulatory currency exchange on any money orders issued or
9sold by it to the public in the ordinary course of its
10business. Such bond shall be renewed annually. If after the
11expiration of one year from the date of approval of such bond
12by the Secretary, it shall appear that the average amount of
13such liability during the year has exceeded $100,000, the
14Secretary shall require the licensee to furnish a bond for the
15ensuing year, to be approved by the Secretary, for an
16additional principal sum of $1,000 for each $1,000 of such
17liability or fraction thereof in excess of the original
18$100,000, except that the maximum amount of such bond shall not
19be required to exceed $250,000.
20(Source: P.A. 97-315, eff. 1-1-12.)
21    (205 ILCS 405/6)  (from Ch. 17, par. 4813)
22    Sec. 6. Insurance against loss.
23    (a) Every applicant for a license hereunder shall, after
24his application for a license has been approved, file with and
25have approved by the Secretary, a policy or policies of



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1insurance issued by an insurance company or indemnity company
2authorized to do business under the law of this State, which
3shall insure the applicant against loss by theft, burglary,
4robbery or forgery in a principal sum as hereinafter provided;
5if the average amount of cash and liquid funds to be kept on
6hand at the licensed location in the office of the community
7currency exchange during the year will not be in excess of
8$10,000 the policy or policies shall be in the principal sum of
9$10,000. If such average amount will be in excess of $10,000,
10the policy or policies shall be for an additional principal sum
11of $500 for each $1,000 or fraction thereof of such excess over
12the original $10,000. From time to time, the Secretary may
13determine the amount of cash and liquid funds on hand at the
14licensed location in the office of any community currency
15exchange and shall require the licensee to submit additional
16policies if the same are determined to be necessary in
17accordance with the requirements of this Section.
18    However, any licensee community currency exchange licensed
19under this Act may meet the insurance requirements of this
20subsection (a) by submitting evidence satisfactory to the
21Secretary that the licensee is covered by a blanket insurance
22policy that covers multiple licensees. The blanket insurance
23policy: (i) shall insure the licensee against loss by theft,
24robbery, or forgery; (ii) shall be issued by an insurance
25company authorized to do business in this State; and (iii)
26shall be in the principal sum of an amount equal to the maximum



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1amount required under this Section for any one licensee covered
2by the insurance policy.
3    Any such policy or policies, with respect to forgery, may
4carry a condition that the community currency exchange assumes
5the first $1,000 of each claim thereunder.
6    (b) Before an ambulatory currency exchange shall sell or
7issue money orders, it shall file with and have approved by the
8Secretary, a policy or policies of insurance issued by an
9insurance company or indemnity company authorized to do
10business under the laws of this State, which shall insure such
11ambulatory currency exchange against loss by theft, burglary,
12robbery, forgery or embezzlement in the principal sum of not
13less than $500,000. If the average amount of cash and liquid
14funds to be kept on hand during the year will exceed $500,000,
15the policy or policies shall be for an additional principal sum
16of $500 for each $1,000 or fraction thereof in excess of
17$500,000. From time to time the Secretary may determine the
18amount of cash and liquid funds kept on hand by an ambulatory
19currency exchange and shall require it to submit such
20additional policies as are determined to be required within the
21limits of this Section. No ambulatory currency exchange subject
22to this Section shall be required to furnish more than one
23policy of insurance if the policy furnished insures it against
24the foregoing losses at all locations served by it.
25    Any such policy may contain a condition that the insured
26assumes a portion of the loss, provided the insured shall file



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1with such policy a sworn financial statement indicating its
2ability to act as self-insurer in the amount of such deductible
3portion of the policy without prejudice to the safety of any
4funds belonging to its customers. If the Secretary is not
5satisfied as to the financial ability of the ambulatory
6currency exchange, he may require it to deposit cash or United
7States Government Bonds in the amount of part or all of the
8deductible portion of the policy.
9(Source: P.A. 97-315, eff. 1-1-12.)
10    (205 ILCS 405/7)  (from Ch. 17, par. 4814)
11    Sec. 7. Available funds; minimum amount. Each licensee
12community currency exchange shall have, at all times, a minimum
13of $5,000 for each currency exchange license it holds of its
14own cash funds available for the uses and purposes of its
15currency exchange business and said minimum sum shall be
16exclusive of and in addition to funds received for exchange or
17transfer; and in addition thereto each such licensee shall at
18all times have on hand an amount of liquid funds sufficient to
19pay on demand all outstanding money orders issued by it.
20Whenever a licensee holds more than one community currency
21exchange license, the aggregate of the minimum liquid funds
22required under this Section 7 for all of such licensee's
23licensed locations may be held by the licensee in a single
24account in the licensee's name, provided that the total liquid
25funds equals a minimum of $5,000 multiplied by the number of



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1licenses held by that licensee.
2    In the event a receiver is appointed in accordance with
3Section 15.1 of this Act, and the Secretary determines that the
4business of the currency exchange should be liquidated, and if
5it shall appear that the said minimum sum was not on hand or
6available at the time of the appointment of the receiver, then
7the receiver shall have the right to recover in any court of
8competent jurisdiction from the owner or owners of such
9currency exchange, or from the stockholders and directors
10thereof if such currency exchange was operated by a
11corporation, or from the members if the currency exchange was
12operated as a limited liability company, said sum or that part
13thereof which was not on hand or available at the time of the
14appointment of such receiver. Nothing contained in this Section
15shall limit or impair the liability of any bonding or insurance
16company on any bond or insurance policy relating to such
17community currency exchange issued pursuant to the
18requirements of this Act, nor shall anything contained herein
19limit or impair such other rights or remedies as the receiver
20may otherwise have.
21(Source: P.A. 97-315, eff. 1-1-12.)
22    (205 ILCS 405/9)  (from Ch. 17, par. 4816)
23    Sec. 9. No community or ambulatory currency exchange shall
24issue tokens to be used in lieu of money for the purchase of
25goods or services from any enterprise, except that currency



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1exchanges may engage in the distribution of food stamps as
2authorized by Section 3.2.
3(Source: P.A. 80-439.)
4    (205 ILCS 405/10)  (from Ch. 17, par. 4817)
5    Sec. 10. Qualifications of applicant; denial of license;
6review. The applicant or , and its controlling persons
7officers, directors and stockholders, if a corporation, and its
8managers and members, if a liability company, shall be vouched
9for by 2 reputable citizens of this State setting forth that
10the individual mentioned is (a) personally known to them to be
11trustworthy and reputable, (b) that he has business experience
12qualifying him to competently conduct, operate, own or become
13associated with a currency exchange, (c) that he has a good
14business reputation and is worthy of a license. Thereafter, the
15Secretary shall, upon approval of the application filed with
16him, issue to the applicant, qualifying under this Act, a
17license to operate a currency exchange. If it is a license for
18a community currency exchange, the same shall be valid only at
19the place of business specified in the application. If it is a
20license for an ambulatory currency exchange, it shall entitle
21the applicant to operate only at the location or locations
22specified in the application, provided the applicant shall
23secure separate and additional licenses for each of such
24locations. Such licenses shall remain in full force and effect,
25until they are surrendered by the licensee, or revoked, or



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1expire, as herein provided. If the Secretary shall not so
2approve, he shall not issue such license or licenses and shall
3notify the applicant of such denial, retaining the full
4investigation fee to cover the cost of investigating the
5community currency exchange applicant. The Secretary shall
6approve or deny every application hereunder within 90 days from
7the filing of a complete application; except that in respect to
8an application by an approved ambulatory currency exchange for
9a license with regard to a particular location to be served by
10it, the same shall be approved or denied within 20 days from
11the filing thereof. If the application is denied, the Secretary
12shall send by United States mail notice of such denial to the
13applicant at the address set forth in the application.
14    If an application is denied, the applicant may, within 10
15days from the date of the notice of denial, make written
16request to the Secretary for a hearing on the application, and
17the Secretary shall set a time and place for the hearing. The
18hearing shall be set for a date after the receipt by the
19Secretary of the request for hearing, and written notice of the
20time and place of the hearing shall be mailed to the applicant
21at least 15 days before the date of the hearing. The applicant
22shall pay the actual cost of making the transcript of the
23hearing prior to the Secretary's issuing his decision following
24the hearing. If, following the hearing, the application is
25denied, the Secretary shall, within 20 days thereafter prepare
26and keep on file in his office a written order of denial



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1thereof, which shall contain his findings with respect thereto
2and the reasons supporting the denial, and shall send by United
3States Mail a copy thereof to the applicant at the address set
4forth in the application, within 5 days after the filing of
5such order. A review of any such decision may be had as
6provided in Section 22.01 of this Act.
7(Source: P.A. 97-315, eff. 1-1-12.)
8    (205 ILCS 405/11)  (from Ch. 17, par. 4819)
9    Sec. 11. Such license, if issued for a community currency
10exchange, shall state the name of the licensee and the address
11of at which the licensed location business is to be conducted.
12Such license, or and its annual renewal, shall be kept
13conspicuously posted in the licensed location place of business
14of the licensee and shall not be transferable or assignable. If
15issued for an ambulatory currency exchange, it shall so state,
16and shall state the name and principal office office address of
17the licensee, and the name and address of the location or
18locations to be served by the licensee, and shall not be
19transferable and assignable.
20(Source: P.A. 97-315, eff. 1-1-12.)
21    (205 ILCS 405/13)  (from Ch. 17, par. 4821)
22    Sec. 13. No more than one place of business shall be
23maintained under the same community currency exchange license,
24but the Secretary may issue more than one license to the same



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1licensee upon compliance with the provisions of this Act
2governing an original issuance of a license, for each new
4    Whenever a community currency exchange or an ambulatory
5currency exchange shall wish to change its name in its license,
6it shall file an application for approval thereof with the
7Secretary, and if the change is approved by the Secretary he
8shall attach to the license, in writing, a rider stating the
9licensee's new name.
10    If an ambulatory currency exchange has serviced a licensed
11location for 2 years or longer and the employer whose employees
12are served at that location has moved his place of business,
13the currency exchange may continue its service to the employees
14of that employer at the new address of that employer's place of
15business by filing a notice of the change of address with the
16Secretary and by relinquishing its license to conduct its
17business at the employer's old address upon receipt of a
18license to conduct its business at the employer's new address.
19Nothing in this Act shall preclude or prevent an ambulatory
20currency exchange from filing an application to conduct its
21business at the old address of an employer who moved his place
22of business after the ambulatory currency exchange receives a
23license to conduct its business at the employer's new address
24through the filing of a notice of its change of address with
25the Secretary and the relinquishing of its license to conduct
26its business at the employer's old address.



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1    Whenever a currency exchange wishes to make any other
2change in the address set forth in any of its licenses, it
3shall apply to the Secretary for approval of such change of
4address. Every application for approval of a change of address
5shall be treated by the Secretary in the same manner as is
6otherwise provided in this Act for the treatment of proposed
7places of business or locations as contained in new
8applications for licenses; and if any fact or condition then
9exists with respect to the application for change of address,
10which fact or condition would otherwise authorize denial of a
11new application for a license because of the address of the
12proposed location or place of business, then such application
13for change of address shall not be approved. Whenever a
14community currency exchange wishes to sell its physical assets,
15it may do so, however, if the assets are sold with the
16intention of continuing the operation of a community currency
17exchange, the purchaser or purchasers must first make
18application to the Secretary for licensure in accordance with
19Section Sections 4 and 10 of this Act. If the Secretary shall
20not so approve, he shall not issue such license and shall
21notify the applicant or applicants of such denial. The
22investigation fee for a change of location is $500.
23    The provisions of Sections 4.1A and Section 10 of this Act
24with reference to notice, hearing and review apply to
25applications filed pursuant to this Section.
26(Source: P.A. 97-315, eff. 1-1-12.)



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1    (205 ILCS 405/14)  (from Ch. 17, par. 4823)
2    Sec. 14. Every licensee, shall, on or before November 15,
3pay to the Secretary the annual license fee or fees for the
4next succeeding calendar year and shall at the same time file
5with the Secretary the annual report required by Section 16 of
6this Act, and the annual bond or bonds, and the insurance
7policy or policies as and if required by this Act. The annual
8license fee for each community currency exchange is $200, prior
9to January 1, 2012. After January 1, 2012 the fee shall be
10$300. After January 1, 2014 the fee shall be $400 for each
11licensee and $400 for each additional licensed location. The
12annual license fee for each location served by an ambulatory
13currency exchange shall be $25.
14(Source: P.A. 97-315, eff. 1-1-12.)
15    (205 ILCS 405/15)  (from Ch. 17, par. 4824)
16    Sec. 15. Fines; suspension; revocation. The Secretary may,
17after 15 business days notice by registered or certified mail
18to the licensee at the address set forth in the license, or by
19email or facsimile transmission if such other method is
20previously designated by the licensee, stating the
21contemplated action and in general the grounds therefore, fine
22the licensee an amount not exceeding $1,000 per violation or
23revoke or suspend any license issued if he or she finds that:
24        (a) the licensee has failed to pay the annual license



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1    fee or to maintain in effect the required bond or bonds or
2    insurance policy or policies; or
3        (b) the licensee has failed to comply with any
4    provision of this Act or any order, decision, finding,
5    rule, regulation, or direction of the Secretary lawfully
6    made under the authority of this Act; or
7        (c) the licensee has violated any provision of this Act
8    or any regulation or direction made by the Secretary under
9    this Act; or
10        (d) any fact or condition exists which, if it had
11    existed at the time of the original application for such
12    license, would have warranted the Secretary in refusing the
13    issuance of the license; or
14        (e) the licensee has not operated the currency exchange
15    or at the location licensed, for a period of 60 consecutive
16    days, unless the licensee was prevented from operating
17    during such period by reason of events or acts beyond the
18    licensee's control.
19    The Secretary's authority to fine a licensee or suspend or
20revoke licenses under this Section is subject to the following:
21        (1) The notice shall state (A) the specific nature and
22    a clear and concise description of the violation; (B) the
23    Sections of this Act or rules that have been violated; (C)
24    the contemplated fine or action; (D) that the licensee may,
25    within 15 business days from the date of the notice,
26    request a hearing pursuant to Section 22.01 of this Act;



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1    (E) that the licensee may, within 15 business days after
2    the notice, take corrective action to mitigate any fine or
3    contemplated action; and (F) the specific corrective
4    action to be taken.
5        (2) In the event the licensee requests, in writing to
6    the Secretary and within 15 business days after the notice,
7    a hearing on the fine or contemplated action, the matter
8    shall be heard pursuant to Section 22.01 of this Act, any
9    fines or contemplated action shall be stayed, and no fines
10    shall accrue during the pendency of the hearing.
11        (3) In the event the licensee takes the corrective
12    action set forth in the notice within the time specified,
13    the licensee shall certify the corrective action in writing
14    to the Secretary, who may then confirm the corrective
15    action by conducting a follow-up investigation within 30
16    days of the date of the certification and, if the Secretary
17    confirms the corrective action is complete, the
18    contemplated fine or action shall be dismissed and the
19    Secretary may assess an examination charge not to exceed
20    $175, provided, however that corrective action taken by a
21    licensee shall not serve to mitigate any contemplated fine
22    or action if such violation is an impairment or is
23    substantially similar to a violation committed by the
24    licensee and at the specific location within the previous
25    36 months.
26    Consistent with the provisions of this Act, the Secretary



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1may, after weighing any harm to the public, the seriousness of
2the offense, and the history of the licensee, fine a licensee
3an amount graduated up to $1,000 per violation. As used in this
4paragraph, "violation" means the offending act taken as a
5whole. Each day, incident, or occurrence the offending act
6occurred shall not be construed as a separate violation.
7    No license shall be revoked until the licensee has had
8notice of a hearing on the proposed revocation and an
9opportunity to be heard. When any license is revoked, the
10Secretary shall, within 20 days, prepare and keep on file in
11his or her office, a written order or decision of revocation
12that shall contain his or her findings and the reasons
13supporting the revocation. The Secretary shall send a copy of
14the order, finding, or decision of revocation by United States
15mail, or by email or facsimile transmission, if such other
16method is previously designated by the licensee, to the
17licensee at the address set forth in the license or to such
18other email address or facsimile transmission phone number
19previously designated by the licensee, within 5 days after the
20filing in his or her office of the order, finding, or decision.
21A review of any such order, finding, or decision is available
22under Section 22.01 of this Act.
23    The Secretary may fine, suspend or revoke only the
24particular license or licenses for particular places of
25business or locations with respect to which grounds for
26revocation may occur or exist; except that if he shall find



SB1882- 37 -LRB099 08659 MGM 28824 b

1that such grounds for revocation are of general application to
2all places of business or locations, or that such grounds for
3fines, suspension or revocation have occurred or exist with
4respect to a substantial number of places of business or
5locations, he may fine, suspend or revoke all of the licenses
6issued to such licensee.
7    An order assessing a fine, an order revoking or suspending
8a license, or an order denying renewal of a license shall take
9effect on service of the order unless the licensee requests a
10hearing pursuant to this Section , in writing, within 15 days
11after the date of service. In the event a hearing is requested,
12the order shall be stayed until a final administrative order is
13entered. If the licensee requests a hearing, the Secretary
14shall schedule a hearing within 30 days after the request for a
15hearing unless otherwise agreed to by the parties. The hearing
16shall be held at the time and place designated by the
18    The Secretary and any administrative law judge designated
19by him or her shall have the power to administer oaths and
20affirmations, subpoena witnesses and compel their attendance,
21take evidence, and require the production of books, papers,
22correspondence, and other records or information that he or she
23considers relevant or material to the inquiry.
24    In case of contumacy or refusal of a witness to obey a
25subpoena, any circuit court of this State whose jurisdiction
26encompasses where the hearing is located may issue an order



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1requiring such witness to appear before the Secretary or the
2hearing officer, to produce documentary evidence, or to give
3testimony touching the matter in question; and the court may
4punish any failures to obey such orders of the court as
6    A licensee may surrender any license by delivering to the
7Secretary written notice that he, they or it thereby surrenders
8such license, but such surrender shall not affect such
9licensee's civil or criminal liability for acts committed prior
10to such surrender, or affect the liability on his, their or its
11bond or bonds, or his, their or its policy or policies of
12insurance, required by this Act, or entitle such licensee to a
13return of any part of the annual license fee or fees.
14    Every license issued hereunder shall remain in force until
15the same shall expire, or shall have been surrendered,
16suspended or revoked in accordance with this Act, but the
17Secretary may on his own motion, issue new licenses to a
18licensee whose license or licenses shall have been revoked if
19no fact or condition then exists which clearly would have
20warranted the Secretary in refusing originally the issuance of
21such license under this Act.
22(Source: P.A. 97-315, eff. 1-1-12.)
23    (205 ILCS 405/17)  (from Ch. 17, par. 4833)
24    Sec. 17. Every licensee shall keep and use in his business
25such books, accounts and records as will enable the Secretary



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1to determine whether such licensee is complying with the
2provisions of this Act and with the rules, regulations and
3directions made by the Secretary hereunder.
4    Each licensee shall record or cause to be recorded the
5following information with respect to each money order it sells
6or issues: (1) The amount; (2) the month and year of sale or
7issuance; and (3) the serial number.
8    Each licensee shall preserve the record required by this
9subsection for at least 7 years or until the money order to
10which it pertains is returned to the licensee. Each money order
11returned to the licensee shall be preserved for not less than 3
12years from the month and year of sale or issuance by the
13licensee. The licensee shall keep the record, or an authentic
14microfilm copy thereof, required to be preserved by this
15subsection within this state at its principal office or other a
16place readily accessible to the Secretary and his
17representatives. If a licensee sells or transfers his business
18at a location or an address, his obligations under this
19paragraph devolve upon the successor licensee and subsequent
20successor licensees, if any, at such location or address. If a
21licensee ceases to do business in this state, he shall deposit
22the records and money orders he is required to preserve, with
23the Secretary.
24(Source: P.A. 97-315, eff. 1-1-12.)
25    (205 ILCS 405/18)  (from Ch. 17, par. 4834)



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1    Sec. 18. Proof of address. The applicant for a community
2currency exchange license shall have a permanent address as
3evidenced by a lease of at least 6 six months duration or other
4suitable evidence of permanency, and the license issued,
5pursuant to the application shall be valid only at that address
6in the application or any new address approved by the
7Secretary. A letter of intent for a lease shall suffice for
8inclusion with the application, and evidence of an executed
9lease shall be considered ministerial in nature, to be
10furnished once the investigation is completed and the approval
11is final and prior to the issuance of the license.
12(Source: P.A. 97-315, eff. 1-1-12.)
13    (205 ILCS 405/21)  (from Ch. 17, par. 4841)
14    Sec. 21. Except as otherwise provided for in this Act,
15whenever the Secretary is required to give notice to any
16applicant or licensee, such requirement shall be complied with
17if, within the time fixed herein, such notice shall be enclosed
18in an envelope plainly addressed to such applicant or licensee,
19as the case may be, at the address set forth in the application
20or licensee's principal office license, as the case may be,
21United States postage fully prepaid, and deposited, registered
22or certified, in the United States mail.
23    Notice may also be provided to an applicant or licensee by
24telephone facsimile to the person or electronically via email
25to the telephone number or email address designated by an



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1applicant or licensee in writing.
2(Source: P.A. 97-315, eff. 1-1-12.)
3    (205 ILCS 405/29.5)
4    Sec. 29.5. Cease and desist. The Secretary may issue a
5cease and desist order to any currency exchange or other person
6doing business without the required license, when in the
7opinion of the Secretary, the currency exchange or other person
8is violating or is about to violate any provision of this Act
9or any rule or requirement imposed in writing by the
10Department. The cease and desist order shall specify the
11activity or activities that the Department is seeking the
12currency exchange or other person doing business without the
13required license to cease and desist.
14    The cease and desist order permitted by this Section may be
15issued prior to a hearing.
16    The Secretary shall serve notice of his or her action,
17including, but not limited to, a statement of reasons for the
18action, either personally or by certified mail, return receipt
19requested. Service by certified mail shall be deemed completed
20(i) when the notice is deposited in the U.S. mail, received, or
21delivery is refused, or (ii) one business day after the United
22States Postal Service has attempted delivery, whichever is
24    Within 10 days after service of a cease and desist order,
25the licensee or other person may request, in writing, a



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1hearing. The Secretary shall schedule a hearing within 30 days
2after the request for a hearing unless otherwise agreed to by
3the parties.
4    If it is determined that the Secretary has the authority to
5issue the cease and desist order, he or she may issue such
6orders as reasonably necessary to correct, eliminate, or remedy
7such conduct.
8    The powers vested in the Secretary by this Section are
9additional to any and all other powers and remedies vested in
10the Secretary by law, and nothing in this Section shall be
11construed as requiring that the Secretary shall employ the
12power conferred in this Section instead of or as a condition
13precedent to the exercise of any other power or remedy vested
14in the Secretary.
15    The currency exchange, or other person doing business
16without the required license, shall pay the actual costs of the
18(Source: P.A. 97-315, eff. 1-1-12.)
19    Section 99. Effective date. This Act takes effect upon
20becoming law.