Bill Text: IL HB2780 | 2013-2014 | 98th General Assembly | Amended
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Recyclable Metal Purchase Registration Law. Creates the Recyclable Metal Theft Task Force within the Department of State Police. Provides that the Task Force shall endeavor to establish a collaborative effort to combat recyclable metal theft throughout the State, assist in developing regional task forces to combat recyclable metal theft, and consider and develop long-term solutions for the rising problem of recyclable metal thefts in this State. Requires the Task Force to report annually to the Director of State Police.
Spectrum: Moderate Partisan Bill (Democrat 8-1)
Status: (Failed) 2014-12-03 - Session Sine Die [HB2780 Detail]
Download: Illinois-2013-HB2780-Amended.html
Bill Title: Amends the Recyclable Metal Purchase Registration Law. Creates the Recyclable Metal Theft Task Force within the Department of State Police. Provides that the Task Force shall endeavor to establish a collaborative effort to combat recyclable metal theft throughout the State, assist in developing regional task forces to combat recyclable metal theft, and consider and develop long-term solutions for the rising problem of recyclable metal thefts in this State. Requires the Task Force to report annually to the Director of State Police.
Spectrum: Moderate Partisan Bill (Democrat 8-1)
Status: (Failed) 2014-12-03 - Session Sine Die [HB2780 Detail]
Download: Illinois-2013-HB2780-Amended.html
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1 | AMENDMENT TO HOUSE BILL 2780
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2 | AMENDMENT NO. ______. Amend House Bill 2780 on page 1 by | ||||||
3 | inserting immediately below line 3 the following:
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4 | "Section 3. The Currency Exchange Act is amended by | ||||||
5 | changing Sections 3, 5, 9, 10, 11, and 18 as follows:
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6 | (205 ILCS 405/3) (from Ch. 17, par. 4804)
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7 | Sec. 3. Powers of community currency exchanges. No | ||||||
8 | community or
ambulatory currency exchange shall be
permitted to | ||||||
9 | accept money or evidences of money as a deposit to be
returned | ||||||
10 | to the depositor or upon the depositor's order. No
community or | ||||||
11 | ambulatory currency exchange shall be permitted to act as
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12 | bailee or agent for persons, firms, partnerships, limited | ||||||
13 | liability
companies, associations or
corporations to hold | ||||||
14 | money or evidences thereof or the proceeds
therefrom for the | ||||||
15 | use and benefit of the owners thereof, and deliver
such money | ||||||
16 | or proceeds of evidence of money upon request and direction
of |
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1 | such owner or owners. Nothing in this Act shall prevent a | ||||||
2 | currency exchange from accepting any check without regard to | ||||||
3 | the date imprinted on the check as long as the check is | ||||||
4 | immediately cashed, deposited, and processed in the ordinary | ||||||
5 | course of business. A community or ambulatory currency exchange | ||||||
6 | is permitted to engage in, and charge a fee for, the following | ||||||
7 | activities, either directly or as a third-party agent: (i) | ||||||
8 | cashing of checks, drafts, money orders, or any other evidences | ||||||
9 | of money acceptable to the currency exchange, (ii) selling or | ||||||
10 | issuing money orders, (iii) obtaining reports, certificates, | ||||||
11 | governmental permits, licenses, and vital statistics and the | ||||||
12 | preparation of necessary applications to obtain the same, (iv) | ||||||
13 | the sale and distribution of bond cards, (v) obtaining, | ||||||
14 | distributing, providing, or selling: State vehicle | ||||||
15 | registration renewals, title transfers and tax remittance | ||||||
16 | forms, city vehicle licenses, and other governmental services, | ||||||
17 | (vi) photocopying and sending and receiving facsimile | ||||||
18 | transmissions, (vii) notary service either by the proprietor of | ||||||
19 | the currency exchange or any currency exchange employee, | ||||||
20 | authorized by the State to act as a notary public, (viii) | ||||||
21 | issuance of travelers checks obtained by the currency exchange | ||||||
22 | from a banking institution under a trust receipt, (ix) | ||||||
23 | accepting for payment utility and other companies' bills, (x) | ||||||
24 | issuance and acceptance of any third-party debit, credit, or | ||||||
25 | stored value card and loading or unloading, (xi) on-premises | ||||||
26 | automated cash dispensing machines, (xii) sale of rolled coin |
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1 | and paper money, (xiii) exchange of foreign currency through a | ||||||
2 | third-party, (xiv) sale of cards, passes, or tokens for public | ||||||
3 | transit, (xv) providing mail box service, (xvi) preparation and | ||||||
4 | transmittal of consumer requests and applications for the sale | ||||||
5 | of prepaid wireless phones, phone cards , and other pre-paid | ||||||
6 | telecommunication services, (xvii) on-premises public | ||||||
7 | telephone, (xviii) sale of U.S. postage, (xix) money | ||||||
8 | transmission through a licensed third-party money transmitter, | ||||||
9 | (xx) sale of candy, gum, other packaged foods, soft drinks, and | ||||||
10 | other products and services by means of on-premises vending | ||||||
11 | machines, and (xxi) preparation and transmittal of consumer | ||||||
12 | requests and applications for the delivery, supply, or service | ||||||
13 | of any utility product, service, or company lawfully offered in | ||||||
14 | the State of Illinois, (xxii) advertising upon and about the | ||||||
15 | premises and distribution to consumers of advertising and other | ||||||
16 | materials of any legal product or service that is not | ||||||
17 | misleading to the public, and (xxiii) other products and | ||||||
18 | services as may be approved by the Secretary.
Any community or | ||||||
19 | ambulatory currency exchange may enter into
agreements with any | ||||||
20 | utility and other companies to act as the companies'
agent for | ||||||
21 | the acceptance of payment of utility and other
companies' bills | ||||||
22 | without charge
to the customer and,
acting under such | ||||||
23 | agreement, may receipt for payments in the
names of the utility | ||||||
24 | and other companies. Any community or
ambulatory currency | ||||||
25 | exchange may also receive payment of
utility and other | ||||||
26 | companies' bills for remittance to companies
with which it has |
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1 | no such agency agreement and may charge a fee
for such service | ||||||
2 | but may not, in such cases, issue a receipt for such
payment in | ||||||
3 | the names of the utility and other companies.
However, funds | ||||||
4 | received by currency exchanges for remittance
to utility and | ||||||
5 | other companies with which the currency exchange
has no agency | ||||||
6 | agreement shall be forwarded to the appropriate
utility and | ||||||
7 | other companies by the currency exchange before the
end of the | ||||||
8 | next business day. | ||||||
9 | For the purpose of this Section, "utility and other | ||||||
10 | companies" means any utility company and other company with | ||||||
11 | which the currency exchange may or may not have a contractual | ||||||
12 | agreement and for which the currency exchange accepts payments | ||||||
13 | from consumers for remittance to the utility or other company | ||||||
14 | for the payment of bills.
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15 | (Source: P.A. 97-315, eff. 1-1-12.)
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16 | (205 ILCS 405/5) (from Ch. 17, par. 4812)
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17 | Sec. 5. Bond; condition; amount.
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18 | (a) Before any license shall be issued
to a community
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19 | currency exchange the applicant shall file annually with and
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20 | have approved by the Secretary a surety bond, issued by a | ||||||
21 | bonding
company authorized to do business in this State in the | ||||||
22 | principal sum
of $25,000. Such bond shall run to the Secretary | ||||||
23 | and shall
be for the benefit of any creditors of such currency | ||||||
24 | exchange
for any liability incurred by the currency exchange on | ||||||
25 | any
money orders, including any fees and penalties incurred by |
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1 | the remitter should the money order be returned unpaid, issued | ||||||
2 | or sold by the currency exchange in the ordinary course of its | ||||||
3 | business and for
any liability incurred by the currency | ||||||
4 | exchange for any sum or
sums due to any payee or endorsee of | ||||||
5 | any check, draft or money
order left with the currency exchange | ||||||
6 | in the ordinary course of its business for collection, and for
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7 | any liability to the public incurred by the currency exchange | ||||||
8 | in the ordinary course of its business in connection
with the | ||||||
9 | rendering of any of the services referred to in
Section 3 of | ||||||
10 | this Act.
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11 | To protect the public and allow for the effective | ||||||
12 | underwriting of bonds, the surety bond shall not cover money | ||||||
13 | orders issued and other liabilities incurred by a currency | ||||||
14 | exchange for its own account or that of its controlling | ||||||
15 | persons, including money orders issued or liabilities incurred | ||||||
16 | by the currency exchange to obtain cash for its own operations, | ||||||
17 | to pay for the currency exchange's own bills or liabilities or | ||||||
18 | that of its controlling persons, or to obtain things of value | ||||||
19 | for the currency exchange
or its controlling persons, | ||||||
20 | regardless of whether such things of value are used in the | ||||||
21 | currency exchange's operations or sold by the currency | ||||||
22 | exchange. | ||||||
23 | From time to time the Secretary may determine the amount of | ||||||
24 | liabilities
as described herein and shall require the licensee | ||||||
25 | to file a bond in an
additional sum if the same is determined | ||||||
26 | to be necessary in accordance with
the requirements of this |
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1 | Section. In no case shall the bond be less than
the initial | ||||||
2 | $25,000, nor more than the outstanding liabilities.
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3 | (b) In lieu of the surety bond requirements of subsection | ||||||
4 | (a), a community
currency exchange licensee may submit evidence | ||||||
5 | satisfactory to the Secretary
that the community currency | ||||||
6 | exchange licensee is covered by a blanket bond that
covers | ||||||
7 | multiple licensees who are members of a statewide association | ||||||
8 | of
community currency exchanges. Such a blanket bond must be | ||||||
9 | issued by a bonding
company authorized to do business in this | ||||||
10 | State and in a principal aggregate
sum of not less than | ||||||
11 | $3,000,000 as of May 1, 2012, and not less than $4,000,000 as | ||||||
12 | of May 1, 2014.
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13 | (c) An ambulatory currency exchange may sell or issue money | ||||||
14 | orders
at any location with regard to which it
is issued a | ||||||
15 | license pursuant to this Act, including existing
licensed | ||||||
16 | locations, without the necessity of a further
application or | ||||||
17 | hearing and without regard to any exceptions
contained in | ||||||
18 | existing licenses, upon the filing with
the Secretary of a | ||||||
19 | surety bond approved by the Secretary and issued by a bonding
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20 | company
or insurance company authorized to do business in | ||||||
21 | Illinois,
in the principal sum of $100,000. Such bond may be a | ||||||
22 | blanket
bond covering all locations at which the ambulatory | ||||||
23 | currency
exchange may sell or issue money orders,
and shall run | ||||||
24 | to the Secretary for the
use and benefit of any creditors of | ||||||
25 | such ambulatory currency
exchange for any liability incurred by | ||||||
26 | the ambulatory currency
exchange on any money orders issued or |
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1 | sold by it to the public in the ordinary course of its | ||||||
2 | business .
Such bond shall be renewed annually. If after
the | ||||||
3 | expiration of one year from the date of approval of such
bond | ||||||
4 | by the Secretary, it shall appear that the average amount
of | ||||||
5 | such liability during the year has exceeded $100,000,
the | ||||||
6 | Secretary shall require the licensee to furnish a bond for
the | ||||||
7 | ensuing year, to be approved by the Secretary,
for an | ||||||
8 | additional principal sum of $1,000 for each $1,000 of
such | ||||||
9 | liability or fraction thereof in excess of the original
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10 | $100,000, except that the maximum amount of such bond shall not | ||||||
11 | be required to
exceed $250,000.
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12 | (Source: P.A. 97-315, eff. 1-1-12.)
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13 | (205 ILCS 405/9) (from Ch. 17, par. 4816)
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14 | Sec. 9.
No community or ambulatory currency exchange shall | ||||||
15 | issue
tokens to be used in lieu of money for the purchase of | ||||||
16 | goods or services
from any enterprise , except that currency | ||||||
17 | exchanges may engage in
the distribution of food stamps as | ||||||
18 | authorized by Section 3.2 .
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19 | (Source: P.A. 80-439.)
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20 | (205 ILCS 405/10) (from Ch. 17, par. 4817)
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21 | Sec. 10. Qualifications of applicant; denial of license; | ||||||
22 | review. The
applicant , and its controlling persons officers, | ||||||
23 | directors and
stockholders, if a corporation,
and its managers | ||||||
24 | and members, if a liability company, shall be vouched for
by 2 |
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1 | reputable citizens of this State setting forth
that the | ||||||
2 | individual mentioned is (a) personally known to them to be
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3 | trustworthy and reputable, (b) that he has business experience | ||||||
4 | qualifying
him to competently conduct, operate, own or become | ||||||
5 | associated with a
currency exchange, (c) that he has a good | ||||||
6 | business reputation and is worthy
of a license. Thereafter, the | ||||||
7 | Secretary shall, upon approval of the
application filed with | ||||||
8 | him, issue to the applicant, qualifying under this
Act, a | ||||||
9 | license to operate a currency exchange. If it is a license for | ||||||
10 | a
community currency exchange, the same shall be valid only at | ||||||
11 | the place of
business specified in the application. If it is a | ||||||
12 | license for an ambulatory
currency exchange, it shall entitle | ||||||
13 | the applicant to operate only at the
location or locations | ||||||
14 | specified in the application, provided the applicant
shall | ||||||
15 | secure separate and additional licenses for each of such | ||||||
16 | locations.
Such licenses shall remain in full force and effect, | ||||||
17 | until they are
surrendered by the licensee, or revoked, or | ||||||
18 | expire, as herein provided. If
the Secretary shall not so | ||||||
19 | approve, he shall not issue such license or
licenses and shall | ||||||
20 | notify the applicant of such denial, retaining the full
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21 | investigation fee to cover the cost of investigating the | ||||||
22 | community
currency exchange applicant. The
Secretary shall | ||||||
23 | approve or deny every application hereunder within 90 days
from | ||||||
24 | the filing of a complete application; except that in respect to | ||||||
25 | an application by an
approved ambulatory currency exchange for | ||||||
26 | a license with regard to a
particular location to be served by |
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1 | it, the same shall be approved or
denied within 20 days from | ||||||
2 | the filing thereof. If the application is
denied, the Secretary | ||||||
3 | shall send by United States mail notice of such denial
to the | ||||||
4 | applicant at the address set forth in the application.
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5 | If an application is denied, the applicant may, within 10 | ||||||
6 | days from the
date of the notice of denial, make written | ||||||
7 | request to the Secretary for a
hearing on the application, and | ||||||
8 | the Secretary shall set a time and place for
the hearing. The | ||||||
9 | hearing shall be set for a date after the receipt by the
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10 | Secretary of the request for hearing, and written notice of the | ||||||
11 | time and
place of the hearing shall be mailed to the applicant | ||||||
12 | at least 15 days
before the date of the hearing. The applicant | ||||||
13 | shall pay the actual cost of
making the transcript of the | ||||||
14 | hearing prior to the Secretary's issuing his
decision following | ||||||
15 | the hearing. If, following the hearing, the application
is | ||||||
16 | denied, the Secretary shall, within 20 days thereafter prepare | ||||||
17 | and keep
on file in his office a written order of denial | ||||||
18 | thereof, which shall
contain his findings with respect thereto | ||||||
19 | and the reasons supporting the
denial, and shall send by United | ||||||
20 | States Mail a copy thereof to the
applicant at the address set | ||||||
21 | forth in the application, within 5 days after
the filing of | ||||||
22 | such order. A review of any such decision may be had as
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23 | provided in Section 22.01 of this Act.
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24 | For the purposes of this Act, "controlling person" means an | ||||||
25 | officer, director, or person owning or holding power to vote | ||||||
26 | 10% or more of the outstanding voting securities of a licensee |
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1 | or the power to vote the securities of another controlling | ||||||
2 | person of the licensee. For purposes of
determining the | ||||||
3 | percentage of a licensee controlled by a controlling person, | ||||||
4 | the person's interest shall be combined with the interest of | ||||||
5 | any other person controlled, directly or indirectly, by that | ||||||
6 | person or by a spouse, parent, or child of that person. | ||||||
7 | (Source: P.A. 97-315, eff. 1-1-12.)
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8 | (205 ILCS 405/11) (from Ch. 17, par. 4819)
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9 | Sec. 11.
Such license, if issued for a community currency | ||||||
10 | exchange, shall
state the name of the licensee and the address | ||||||
11 | at which the business is to
be conducted. Such license, or and | ||||||
12 | its annual renewal, shall be kept conspicuously posted in the | ||||||
13 | place
of business of the licensee and shall not be transferable | ||||||
14 | or assignable. If
issued for an ambulatory currency exchange, | ||||||
15 | it shall so state, and shall
state the name and office address | ||||||
16 | of the licensee, and the name and address
of the location or | ||||||
17 | locations to be served by the licensee, and shall not be
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18 | transferable and assignable.
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19 | (Source: P.A. 97-315, eff. 1-1-12.)
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20 | (205 ILCS 405/18) (from Ch. 17, par. 4834)
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21 | Sec. 18.
Proof of address. The applicant for a community | ||||||
22 | currency exchange license shall have
a permanent address as | ||||||
23 | evidenced by a lease of at least 6 six months duration
or other | ||||||
24 | suitable evidence of permanency, and the license issued , |
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1 | pursuant
to the application shall be valid only at that address | ||||||
2 | in the application or any new address
approved by the | ||||||
3 | Secretary. A letter of intent for a lease shall suffice for | ||||||
4 | inclusion with the application, and evidence of an executed | ||||||
5 | lease shall be considered ministerial in nature, to be | ||||||
6 | furnished once the investigation is completed, the approval | ||||||
7 | final, and
prior to the issuance of the license.
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8 | (Source: P.A. 97-315, eff. 1-1-12.)".
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