Bill Status of SB3060 100th General Assembly
Short Description: FINANCIAL INSTITUTIONS-EMAIL
Sen. William E. Brady
(Rep. C.D. Davidsmeyer)
| 1/9/2019||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Credit Union Act, the Currency Exchange Act, the Transmitters of Money Act, the Sales Finance Agency Act, the Debt Management Service Act, the Title Insurance Act, the Debt Settlement Consumer Protection Act, the Payday Loan Reform Act, and the Consumer Installment Loan Act. Defines "email address of record". Eliminates references to "certified mail". Provides that a chartered institution, licensee, or applicant shall provide the Department of Financial and Professional Regulation with an accurate and up-to-date email address. Permits the Department to send official notices to the chartered institution, licensee, or applicant's email address of record. Provides that service to the email address of record is completed when sent. Provides that service by mail is completed when the notice is deposited in the U.S. Mail. Makes other changes. Effective immediately.
Senate Committee Amendment No. 1
Removes language providing that service to the email address of record is complete when sent. Instead, provides that service by email is complete on the date of transmission to the email address of record. Provides that the Department of Financial and Professional Regulation shall adopt rules to specify the standards of confirming delivery of documents to the email address of record and to ensure the service to the email address of record or other means is accomplished. Provides that until such rules are adopted, the Department shall send a copy of the document via certified mail to the licensee's address of record.