Bill Text: IL HB5508 | 2013-2014 | 98th General Assembly | Introduced

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Bill Title: Amends the Currency Exchange Act. Provides that a currency exchange is not prohibited from accepting any check without regard to the date imprinted on the check, as long as the check is immediately cashed, deposited, and processed in the ordinary course of business. Further provides that a community or ambulatory currency exchange is permitted to place self-service automated terminals on its premises, engage in and charge a fee for the transmission of information upon the request of a consumer, advertise and distribute materials concerning legal services and products on its premises, and provide access to third-party travel reservation and ticketing services. Makes changes to provisions concerning community currency exchanges and the Secretary of Financial and Professional Regulation's authority to fine a licensee or suspend or revoke licenses under the Act. Makes other changes.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB5508 Detail]

Download: Illinois-2013-HB5508-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB5508 Introduced , by Rep. Robert Rita SYNOPSIS AS INTRODUCED:
205 ILCS 405/3 from Ch. 17, par. 4804
205 ILCS 405/3.3 from Ch. 17, par. 4807
205 ILCS 405/4.1 from Ch. 17, par. 4809
205 ILCS 405/5 from Ch. 17, par. 4812
205 ILCS 405/8 from Ch. 17, par. 4815
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 405/15 from Ch. 17, par. 4824
205 ILCS 405/18 from Ch. 17, par. 4834
Amends the Currency Exchange Act. Provides that a currency exchange is not prohibited from accepting any check without regard to the date imprinted on the check, as long as the check is immediately cashed, deposited, and processed in the ordinary course of business. Further provides that a community or ambulatory currency exchange is permitted to place self-service automated terminals on its premises, engage in and charge a fee for the transmission of information upon the request of a consumer, advertise and distribute materials concerning legal services and products on its premises, and provide access to third-party travel reservation and ticketing services. Makes changes to provisions concerning community currency exchanges and the Secretary of Financial and Professional Regulation's authority to fine a licensee or suspend or revoke licenses under the Act. Makes other changes.
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FISCAL NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Currency Exchange Act is amended by changing
Sections 3, 3.3, 4.1, 5, 8, 9, 10, 11, 15, and 18 as follows:
(205 ILCS 405/3) (from Ch. 17, par. 4804)
Sec. 3. Powers of community currency exchanges. No
community or ambulatory currency exchange shall be permitted to
accept money or evidences of money as a deposit to be returned
to the depositor or upon the depositor's order. No community or
ambulatory currency exchange shall be permitted to act as
bailee or agent for persons, firms, partnerships, limited
liability companies, associations or corporations to hold
money or evidences thereof or the proceeds therefrom for the
use and benefit of the owners thereof, and deliver such money
or proceeds of evidence of money upon request and direction of
such owner or owners. Nothing in this Act shall prevent a
currency exchange from accepting any check without regard to
the date imprinted on the check, as long as the check is
immediately cashed, deposited, and processed in the ordinary
course of business. A community or ambulatory currency exchange
is permitted to engage in, and charge a fee for, the following
activities, either directly or as a third-party agent: (i)

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cashing of checks, drafts, money orders, or any other evidences
of money acceptable to the currency exchange, (ii) selling or
issuing money orders, (iii) obtaining reports, certificates,
governmental permits, licenses, and vital statistics and the
preparation of necessary applications to obtain the same, (iv)
the sale and distribution of bond cards, (v) obtaining,
distributing, providing, or selling: State vehicle
registration renewals, title transfers and tax remittance
forms, city vehicle licenses, and other governmental services,
(vi) photocopying and sending and receiving facsimile
transmissions, (vii) notary service either by the proprietor of
the currency exchange or any currency exchange employee,
authorized by the State to act as a notary public, (viii)
issuance of travelers checks obtained by the currency exchange
from a banking institution under a trust receipt, (ix)
accepting for payment utility and other companies' bills, (x)
issuance and acceptance of any third-party debit, credit, or
stored value card and loading or unloading, (xi) on-premises
automated cash dispensing machines, (xii) sale of rolled coin
and paper money, (xiii) exchange of foreign currency through a
third-party, (xiv) sale of cards, passes, or tokens for public
transit, (xv) providing mail box service, (xvi) sale of phone
cards and other pre-paid telecommunication services, (xvii)
on-premises public telephone, (xviii) sale of U.S. postage,
(xix) money transmission through a licensed third-party money
transmitter, (xx) sale of candy, gum, other packaged foods,

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soft drinks, and other products and services by means of
on-premises vending machines and self-service automated
terminals, and (xxi) transmittal of information upon the
request of a consumer, (xxii) advertising upon and about the
premises and distribution to consumers of advertising and other
materials of any legal product or service that is not
misleading to the public, (xxiii) providing access to consumers
of third-party travel reservation and ticketing services, and
(xxiv) other products and services as may be approved by the
Secretary. Any community or ambulatory currency exchange may
enter into agreements with any utility and other companies to
act as the companies' agent for the acceptance of payment of
utility and other companies' bills without charge to the
customer and, acting under such agreement, may receipt for
payments in the names of the utility and other companies. Any
community or ambulatory currency exchange may also receive
payment of utility and other companies' bills for remittance to
companies with which it has no such agency agreement and may
charge a fee for such service but may not, in such cases, issue
a receipt for such payment in the names of the utility and
other companies. However, funds received by currency exchanges
for remittance to utility and other companies with which the
currency exchange has no agency agreement shall be forwarded to
the appropriate utility and other companies by the currency
exchange before the end of the next business day.
For the purpose of this Section, "utility and other

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companies" means any utility company and other company with
which the currency exchange may or may not have a contractual
agreement and for which the currency exchange accepts payments
from consumers for remittance to the utility or other company
for the payment of bills.
(Source: P.A. 97-315, eff. 1-1-12.)
(205 ILCS 405/3.3) (from Ch. 17, par. 4807)
Sec. 3.3. Additional public services.
(a) Nothing in this Act shall prevent the Secretary from
authorizing a currency exchange, group of currency exchanges,
or association of currency exchanges to render additional
services to the public if the services are consistent with the
provisions of this Act, are within its meaning, are in the best
interest of the public, and benefit the general welfare. For
the purposes of this Section, lawful services shall be presumed
to be consistent with the provisions of this Act, within its
meaning, and in the best interest of the public and to benefit
the general welfare. A currency exchange, group of currency
exchanges, or association of currency exchanges must request,
in writing, the Secretary's approval of the additional service
prior to rendering such additional service to the public. Any
approval under this Section shall be deemed an approval for all
currency exchanges. Any currency exchange wishing to provide an
additional service previously approved by the Secretary must
provide written notice, on a form provided by the Department

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and available on its website, to the Secretary 30 days prior to
offering the approved additional service to the public. The
Secretary may charge an additional service investigation fee of
$500 per application for a new additional service request. The
additional service request shall be on a form provided by the
Department and available on the Department's website. Within 15
days after receipt by the Department of an additional service
request, the Secretary shall examine the additional service
request for completeness and notify the requester of any
defect. The requester must remedy the defect within 10 days
after the mailing of the notification of the defect by the
Secretary. Failure to remedy the defect within such time will
void the additional service request. If the Secretary
determines that the additional service request is complete, the
Secretary shall have 60 business days to approve or deny the
additional service request. If the additional service request
is denied, the Secretary shall send by United States mail
notice of the denial to the requester at the address set forth
in the additional service request, together with the reasons
therefor stated with particularity that the additional service
is not consistent with the provisions of this Act or in the
best interest of the public and does not benefit the general
welfare. If an additional service request is denied, the
requester may, within 10 days after receipt of the denial, make
a written request to the Secretary for a hearing on the
additional service request denial. The hearing shall be set for

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a date after the receipt by the Secretary of the request for a
hearing, and written notice of the time and place of the
hearing shall be mailed to the requester no later than 15 days
before the date of the hearing. The hearing shall be scheduled
for a date within 56 days after the date of the receipt of the
request for a hearing. The requester shall pay the actual cost
of making the transcript of the hearing prior to the
Secretary's issuing his or her decision following the hearing.
If the Secretary denies the request for a new additional
service, a currency exchange shall not offer the new additional
service until a final administrative order has been entered
permitting a currency exchange to offer the service. The
Secretary's decision may be subject to review as provided in
Section 22.01 of this Act. If the Secretary revokes a
previously approved authorization for an additional service
request, the Secretary shall provide written notice to all
affected currency exchange licensees, together with the
reasons therefor stated with particularity, that the
additional service is no longer consistent with the provisions
of this Act or in the best interest of the public and does not
benefit the general welfare. Upon receipt of the revocation
notice, a currency exchange licensee, group of currency
exchange licensees, or association of currency exchanges shall
have 10 days to make a written request to the Secretary for a
hearing, and the Department shall have 30 business days to
schedule a future hearing. Written notice of the time and place

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of the hearing shall be mailed to the licensee no later than 10
business days before the date of the hearing. The licensee
shall pay the actual cost of making the transcript prior to the
Secretary's issuing his or her decision following the hearing.
The Secretary's decision is subject to review as provided in
Section 22.01 of this Act.
(b) (Blank).
(c) If the Secretary revokes authorization for a previously
approved additional service, the currency exchange may
continue to offer the additional service until a final
administrative order has been entered revoking the licensee's
previously approved authorization.
(Source: P.A. 97-315, eff. 1-1-12; 97-1111, eff. 8-27-12.)
(205 ILCS 405/4.1) (from Ch. 17, par. 4809)
Sec. 4.1. Application; investigation; community need.
(a) The General Assembly finds and declares that community
currency exchanges provide important and vital services to
Illinois citizens, that the number of community currency
exchanges should be limited in accordance with the needs of the
communities they are to serve, and that it is in the public
interest to promote and foster the community currency exchange
business and to insure the financial stability thereof.
(b) Upon receipt of an application for a license for a
community currency exchange, the Secretary shall cause an
investigation to determine:

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(1) of the need of the community for the establishment
of a community currency exchange at the location specified
in the application; and
(2) the effect that granting the license will have on
the financial stability of other community currency
exchanges that may be serving the community in which the
business of the applicant is proposed to be conducted.
(c) "Community", as used in this Act, means a locality
where there may or can be available to the people thereof the
services of a community currency exchange reasonably
accessible to them, but in no case less than a one-half mile
radius from the location specified in an application for a
license for a community currency exchange.
(d) If the issuance of a license to engage in the community
currency exchange business at the location specified will not
promote the needs and the convenience and advantage of the
community in which the business of the applicant is proposed to
be conducted or would have a material and negative effect upon
the financial stability of other currency exchanges as
described in paragraph (2) of subsection (b) of this Section,
then the application shall be denied. Notwithstanding any other
provision contained in this Section, the Secretary shall not
approve an application to operate a new community currency
exchange within a one-half mile radius of any existing licensee
located in any municipality with a population exceeding 500,000
or within a one mile radius of any existing licensee located in

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any municipality with a population less than 500,000. This
provision shall not require the Secretary to deny any
application:
(1) from the purchaser of the place of business of a
licensee that was licensed before the effective date of
this amendatory Act of the 98th General Assembly if the
purchaser will operate at the specific location occupied by
the existing licensee, or within 600 feet of that location;
(2) from a licensee requesting to relocate to within
600 feet of the address currently occupied by the licensee;
or
(3) from an applicant providing written waivers from
all existing licensees within the distance limits set forth
in this Section.
For the purposes of this subsection (d), a community
currency exchange business will promote the needs and the
convenience and advantage of the community if it will provide a
benefit to that community.
(e) As a part of the investigation, the Secretary shall,
within 10 business days after receipt of an application, notify
in writing all currency exchanges as described in paragraph (2)
of subsection (b) of this Section of the application and the
proposed location. Within 10 business days after the notice,
any currency exchange as described in paragraph (2) of
subsection (b) of this Section may notify the Secretary it
intends to protest the application. If the currency exchange

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intends to protest the application, then the currency exchange
shall, within 30 days after notifying the Secretary, provide
the Secretary with any information requested to substantiate
that granting the license would have a material and negative
effect upon the financial stability of the existing currency
exchange. Once the investigation is complete, the Secretary
shall, within 10 business days thereafter, notify any currency
exchange as described in paragraph (2) of subsection (b) of
this Section of the determination to approve or deny the
application. The determination shall sufficiently detail the
facts that led to the determination.
(Source: P.A. 97-315, eff. 1-1-12.)
(205 ILCS 405/5) (from Ch. 17, par. 4812)
Sec. 5. Bond; condition; amount.
(a) Before any license shall be issued to a community
currency exchange the applicant shall file annually with and
have approved by the Secretary a surety bond, issued by a
bonding company authorized to do business in this State in the
principal sum of $25,000. Such bond shall run to the Secretary
and shall be for the benefit of any creditors of such currency
exchange for any liability incurred by the currency exchange on
any money orders, including any fees and penalties incurred by
the remitter should the money order be returned unpaid, issued
or sold by the currency exchange in the ordinary course of its
business and for any liability incurred by the currency

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exchange for any sum or sums due to any payee or endorsee of
any check, draft or money order left with the currency exchange
in the ordinary course of its business for collection, and for
any liability to the public incurred by the currency exchange
in the ordinary course of its business in connection with the
rendering of any of the services referred to in Section 3 of
this Act.
To protect the public and allow for the effective
underwriting of bonds, the surety bond shall not cover money
orders issued and other liabilities incurred by a currency
exchange for its own account or that of its controlling
persons, including money orders issued or liabilities incurred
by the currency exchange to obtain cash for its own operations,
to pay for the currency exchange's own bills or liabilities or
that of its controlling persons, or to obtain things of value
for the currency exchange or its controlling persons,
regardless of whether such things of value are used in the
currency exchange's operations or sold by the currency
exchange.
From time to time the Secretary may determine the amount of
liabilities as described herein and shall require the licensee
to file a bond in an additional sum if the same is determined
to be necessary in accordance with the requirements of this
Section. In no case shall the bond be less than the initial
$25,000, nor more than the outstanding liabilities.
(b) In lieu of the surety bond requirements of subsection

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(a), a community currency exchange licensee may submit evidence
satisfactory to the Secretary that the community currency
exchange licensee is covered by a blanket bond that covers
multiple licensees who are members of a statewide association
of community currency exchanges. Such a blanket bond must be
issued by a bonding company authorized to do business in this
State and in a principal aggregate sum of not less than
$3,000,000 as of May 1, 2012, and not less than $4,000,000 as
of May 1, 2014.
(c) An ambulatory currency exchange may sell or issue money
orders at any location with regard to which it is issued a
license pursuant to this Act, including existing licensed
locations, without the necessity of a further application or
hearing and without regard to any exceptions contained in
existing licenses, upon the filing with the Secretary of a
surety bond approved by the Secretary and issued by a bonding
company or insurance company authorized to do business in
Illinois, in the principal sum of $100,000. Such bond may be a
blanket bond covering all locations at which the ambulatory
currency exchange may sell or issue money orders, and shall run
to the Secretary for the use and benefit of any creditors of
such ambulatory currency exchange for any liability incurred by
the ambulatory currency exchange on any money orders issued or
sold by it to the public in the ordinary course of its
business. Such bond shall be renewed annually. If after the
expiration of one year from the date of approval of such bond

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by the Secretary, it shall appear that the average amount of
such liability during the year has exceeded $100,000, the
Secretary shall require the licensee to furnish a bond for the
ensuing year, to be approved by the Secretary, for an
additional principal sum of $1,000 for each $1,000 of such
liability or fraction thereof in excess of the original
$100,000, except that the maximum amount of such bond shall not
be required to exceed $250,000.
(Source: P.A. 97-315, eff. 1-1-12.)
(205 ILCS 405/8) (from Ch. 17, par. 4815)
Sec. 8. A community or an ambulatory currency exchange
shall not be conducted as a department of another business. It
must be an entity, financed and conducted as a separate
business unit. This shall not prevent a community or an
ambulatory currency exchange from leasing a part of the
premises of, or to, another business where for the conduct of
this business on the same premises; provided, that no community
currency exchange shall be conducted on the same premises with
a business whose chief source of revenue is derived from the
sale of alcoholic liquor; and further provided, that all
records of the currency exchange shall remain secure and
inaccessible from anyone not employed by the currency exchange
for consumption on the premises; provided, further, that no
community currency exchange hereafter licensed for the first
time shall share any room with any other business, trade or

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profession nor shall it occupy any room from which there is
direct access to a room occupied by any other business, trade
or profession.
(Source: Laws 1951, p. 562.)
(205 ILCS 405/9) (from Ch. 17, par. 4816)
Sec. 9. No community or ambulatory currency exchange shall
issue tokens to be used in lieu of money for the purchase of
goods or services from any enterprise, except that currency
exchanges may engage in the distribution of food stamps as
authorized by Section 3.2.
(Source: P.A. 80-439.)
(205 ILCS 405/10) (from Ch. 17, par. 4817)
Sec. 10. Qualifications of applicant; denial of license;
review. The applicant, and its controlling persons officers,
directors and stockholders, if a corporation, and its managers
and members, if a liability company, shall be vouched for by 2
reputable citizens of this State setting forth that the
individual mentioned is (a) personally known to them to be
trustworthy and reputable, (b) that he has business experience
qualifying him to competently conduct, operate, own or become
associated with a currency exchange, (c) that he has a good
business reputation and is worthy of a license. Thereafter, the
Secretary shall, upon approval of the application filed with
him, issue to the applicant, qualifying under this Act, a

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license to operate a currency exchange. If it is a license for
a community currency exchange, the same shall be valid only at
the place of business specified in the application. If it is a
license for an ambulatory currency exchange, it shall entitle
the applicant to operate only at the location or locations
specified in the application, provided the applicant shall
secure separate and additional licenses for each of such
locations. Such licenses shall remain in full force and effect,
until they are surrendered by the licensee, or revoked, or
expire, as herein provided. If the Secretary shall not so
approve, he shall not issue such license or licenses and shall
notify the applicant of such denial, retaining the full
investigation fee to cover the cost of investigating the
community currency exchange applicant. The Secretary shall
approve or deny every application hereunder within 90 days from
the filing of a complete application; except that in respect to
an application by an approved ambulatory currency exchange for
a license with regard to a particular location to be served by
it, the same shall be approved or denied within 20 days from
the filing thereof. If the application is denied, the Secretary
shall send by United States mail notice of such denial to the
applicant at the address set forth in the application.
If an application is denied, the applicant may, within 10
days from the date of the notice of denial, make written
request to the Secretary for a hearing on the application, and
the Secretary shall set a time and place for the hearing. The

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hearing shall be set for a date after the receipt by the
Secretary of the request for hearing, and written notice of the
time and place of the hearing shall be mailed to the applicant
at least 15 days before the date of the hearing. The applicant
shall pay the actual cost of making the transcript of the
hearing prior to the Secretary's issuing his decision following
the hearing. If, following the hearing, the application is
denied, the Secretary shall, within 20 days thereafter prepare
and keep on file in his office a written order of denial
thereof, which shall contain his findings with respect thereto
and the reasons supporting the denial, and shall send by United
States Mail a copy thereof to the applicant at the address set
forth in the application, within 5 days after the filing of
such order. A review of any such decision may be had as
provided in Section 22.01 of this Act.
For the purposes of this Act, "controlling person" means an
officer, director, or person owning or holding power to vote
10% or more of the outstanding voting securities of a licensee
or the power to vote the securities of another controlling
person of the licensee. For the purposes of determining the
percentage of a licensee controlled by a controlling person,
the person's interest shall be combined with the interest of
any other person controlled, directly or indirectly, by that
person or by a spouse, parent, or child of that person.
(Source: P.A. 97-315, eff. 1-1-12.)

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(205 ILCS 405/11) (from Ch. 17, par. 4819)
Sec. 11. Such license, if issued for a community currency
exchange, shall state the name of the licensee and the address
at which the business is to be conducted. Such license, or and
its annual renewal, shall be kept conspicuously posted in the
place of business of the licensee and shall not be transferable
or assignable. If issued for an ambulatory currency exchange,
it shall so state, and shall state the name and office address
of the licensee, and the name and address of the location or
locations to be served by the licensee, and shall not be
transferable and assignable.
(Source: P.A. 97-315, eff. 1-1-12.)
(205 ILCS 405/15) (from Ch. 17, par. 4824)
Sec. 15. The Secretary may, after 15 business days notice
by registered or certified mail to the licensee at the address
set forth in the license, or to such other address or method as
previously designated by the licensee, stating the
contemplated action and in general the grounds therefore, fine
the licensee an amount not exceeding $1,000 per violation or
revoke or suspend any license issued if he or she finds that:
(a) the licensee has failed to pay the annual license
fee or to maintain in effect the required bond or bonds or
insurance policy or policies; or
(b) the licensee has failed to comply with any
provision of this Act or any order, decision, finding,

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rule, regulation, or direction of the Secretary lawfully
made under the authority of this Act; or
(c) the licensee has violated any provision of this Act
or any regulation or direction made by the Secretary under
this Act; or
(d) any fact or condition exists which, if it had
existed at the time of the original application for such
license, would have warranted the Secretary in refusing the
issuance of the license; or
(e) the licensee has not operated the currency exchange
or at the location licensed, for a period of 60 consecutive
days, unless the licensee was prevented from operating
during such period by reason of events or acts beyond the
licensee's control.
The Secretary's authority to fine a licensee or suspend or
revoke licenses under this Section is subject to the following:
(1) The notice shall state (A) the specific nature and
a clear and concise description of the violation, (B) the
Sections of this Act or rules that have been violated, (C)
the contemplated fine or action, (D) that the licensee may,
within 15 business days from the date of the notice,
request a hearing pursuant to Section 22.01 of this Act,
(E) that the licensee may, within 15 business days after
the notice, take corrective action to mitigate any fine or
contemplated action, and (F) the specific corrective
action to be taken.

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(2) In the event the licensee requests, in writing to
the Secretary and within 15 business days after the notice,
a hearing on the fine or contemplated action, the matter
shall be heard pursuant to Section 22.01 of this Act, any
fines or contemplated action shall be stayed, and no fines
shall accrue during the pendency of the hearing.
(3) In the event the licensee takes the corrective
action set forth in the notice within the time specified,
the licensee shall certify the corrective action in writing
to the Secretary, who may then confirm the corrective
action by conducting a follow-up investigation within 30
days of the date of the certification and if the Secretary
confirms the corrective action is complete, the
contemplated fine or action shall be dismissed and the
Secretary may assess an examination charge not to exceed
$100. Corrective action taken by a licensee shall not serve
to mitigate any contemplated fine or action if such
violation is an impairment or is substantially similar to a
violation committed by the licensee at the specific
location within the previous 36 months.
Consistent with the provisions of this Act, the Secretary
may, after weighing any harm to the public, the seriousness of
the offense, and the history of the licensee, fine a licensee
an amount graduated up to $1,000 per violation. "Violation"
means the offending act taken as a whole. Each day, incident,
or occurrence the offending act occurred shall not be construed

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as a separate violation.
No license shall be revoked until the licensee has had
notice of a hearing on the proposed revocation and an
opportunity to be heard. When any license is revoked in this
manner, the Secretary shall, within 20 days, prepare and keep
on file in his or her office, a written order or decision of
revocation that shall contain his or her findings and the
reasons supporting the revocation. The Secretary shall send a
copy of the order, finding, or decision of revocation by United
States mail to the licensee at the address set forth in the
license within 5 days after the filing in his or her office of
the order, finding, or decision. A review of any such order,
finding, or decision is available under Section 22.01 of this
Act.
The Secretary may fine, suspend or revoke only the
particular license or licenses for particular places of
business or locations with respect to which grounds for
revocation may occur or exist; except that if he shall find
that such grounds for revocation are of general application to
all places of business or locations, or that such grounds for
fines, suspension or revocation have occurred or exist with
respect to a substantial number of places of business or
locations, he may fine, suspend or revoke all of the licenses
issued to such licensee.
An order assessing a fine, an order revoking or suspending
a license, or an order denying renewal of a license shall take

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effect on service of the order unless the licensee requests a
hearing pursuant to this Section , in writing, within 15 days
after the date of service. In the event a hearing is requested,
the order shall be stayed until a final administrative order is
entered. If the licensee requests a hearing, the Secretary
shall schedule a hearing within 30 days after the request for a
hearing unless otherwise agreed to by the parties. The hearing
shall be held at the time and place designated by the
Secretary.
The Secretary and any administrative law judge designated
by him or her shall have the power to administer oaths and
affirmations, subpoena witnesses and compel their attendance,
take evidence, and require the production of books, papers,
correspondence, and other records or information that he or she
considers relevant or material to the inquiry.
In case of contumacy or refusal of a witness to obey a
subpoena, any circuit court of this State whose jurisdiction
encompasses where the hearing is located may issue an order
requiring such witness to appear before the Secretary or the
hearing officer, to produce documentary evidence, or to give
testimony touching the matter in question; and the court may
punish any failures to obey such orders of the court as
contempt.
A licensee may surrender any license by delivering to the
Secretary written notice that he, they or it thereby surrenders
such license, but such surrender shall not affect such

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licensee's civil or criminal liability for acts committed prior
to such surrender, or affect the liability on his, their or its
bond or bonds, or his, their or its policy or policies of
insurance, required by this Act, or entitle such licensee to a
return of any part of the annual license fee or fees.
Every license issued hereunder shall remain in force until
the same shall expire, or shall have been surrendered,
suspended or revoked in accordance with this Act, but the
Secretary may on his own motion, issue new licenses to a
licensee whose license or licenses shall have been revoked if
no fact or condition then exists which clearly would have
warranted the Secretary in refusing originally the issuance of
such license under this Act.
(Source: P.A. 97-315, eff. 1-1-12.)
(205 ILCS 405/18) (from Ch. 17, par. 4834)
Sec. 18. Proof of address. The applicant for a community
currency exchange license shall have a permanent address as
evidenced by a lease of at least 6 six months duration or other
suitable evidence of permanency, and the license issued,
pursuant to the application shall be valid only at that address
or any new address approved by the Secretary. A letter of
intent for a lease shall suffice for inclusion with the
application, and evidence of an executed lease shall be
considered ministerial in nature, to be furnished once the
investigation is completed, the approval final, and prior to

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the issuance of the license.
(Source: P.A. 97-315, eff. 1-1-12.)