SB3676 amends the Sales Finance Agency Act to revise licensing requirements, fees, and disciplinary actions for sales finance agencies in Illinois.
SB3676 amends the Sales Finance Agency Act to update licensing procedures, fees, and disciplinary actions for sales finance agencies. The bill requires applicants to submit detailed information, including financial solvency and background checks, and mandates a minimum net worth of $30,000. It sets fees for initial and renewal licenses, and outlines disciplinary actions for violations, including fines, license suspension, and revocation.
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