Illinois HB5290 amends the Sales Finance Agency Act to revise licensing requirements, fees, and disciplinary actions for sales finance agencies.
Illinois HB5290 amends the Sales Finance Agency Act by updating licensing requirements, fees, and disciplinary actions for sales finance agencies. The bill specifies that applicants must apply for a license in a form prescribed by the Secretary of Financial and Professional Regulation. It outlines fees for initial and renewal licenses, including nonrefundable application and background investigation fees. The bill also details disciplinary actions such as fines, license suspension, and revocation for violations of the Act.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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