reglab/housing_qa huggingface dataset:
110 ILCS 992/5-55
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 5 - Student Loan Bill of Rights

Sec. 5-55. Payoff statements. A servicer shall indicate on its website that a borrower may request a payoff statement. A servicer shall provide the payoff statement within 10 days, including information the requester needs to pay off the loan. If a payoff is made, the servicer must send a paid-in-full notice within 30 days.  (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/Art. 10 heading
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 10 - Student Loan Ombudsman

   ARTICLE 10.  STUDENT LOAN OMBUDSMAN  (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/10-5
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 10 - Student Loan Ombudsman

(110 ILCS 992/10-5)Sec. 10-5. Student Loan Ombudsman.(a) The position of Student Loan Ombudsman is created within the Office of the Attorney General to provide timely assistance to student loan borrowers.(b) The Student Loan Ombudsman, in consultation with the Secretary, shall:(1) receive, review, and attempt to resolve any     complaints from student loan borrowers, including, but not limited to, attempts to resolve complaints in collaboration with institutions of higher education, student loan servicers, and any other participants in student loan lending;(2) compile and analyze data on student loan borrower     complaints;(3) assist student loan borrowers to understand their     rights and responsibilities under the terms of student education loans;(4) provide information to the public, agencies,     legislators, and others regarding the problems and concerns of student loan borrowers and make recommendations for resolving those problems and concerns;(5) analyze and monitor the development and     implementation of federal, State, and local laws, regulations, and policies relating to student loan borrowers and recommend any changes the Student Loan Ombudsman deems necessary;(6) review the complete student education loan     history for any student loan borrower who has provided written consent for such review;(7) disseminate information concerning the     availability of the Student Loan Ombudsman to assist student loan borrowers and potential student loan borrowers, as well as public institutions of higher education, student loan servicers, and any other participant in student education loan lending, with any student loan servicing concerns; and(8) take any other actions necessary to fulfill the     duties of the Student Loan Ombudsman as set forth in this subsection. (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/Art. 15 heading
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 15 - Licensure

   ARTICLE 15.  LICENSURE  (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/15-5
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 15 - Licensure

Sec. 15-5. Scope; requirement for student loan servicing license.(a) It shall be unlawful for any person to operate as a student loan servicer in Illinois except as authorized by this Act and without first having obtained a license in accordance with this Act.(b) The provisions of this Act do not apply to any of the following:(1) a bank, savings bank, savings association, or     credit union organized under the laws of the State or any other state or under the laws of the United States;(2) a wholly owned subsidiary of any bank, savings     bank, savings association, or credit union organized under the laws of the State or any other state or under the laws of the United States;(3) an operating subsidiary where each owner of the     operating subsidiary is wholly owned by the same bank, savings bank, savings association, or credit union organized under the laws of the State or any other state or under the laws of the United States;(4) the Illinois Student Assistance Commission and     its agents when the agents are acting on the Illinois Student Assistance Commission's behalf;(5) a public postsecondary educational institution or     a private nonprofit postsecondary educational institution servicing a student loan it extended to the borrower;(6) a licensed debt management service under the Debt     Management Service Act, except to the extent that the organization acts as a subcontractor, affiliate, or service provider for an entity that is otherwise subject to licensure under this Act;(7) any collection agency licensed under the     Collection Agency Act that is collecting post-default debt;(8)  in connection with its responsibilities as a     guaranty agency engaged in default aversion, a State or nonprofit private institution or organization having an agreement with the U.S. Secretary of Education under Section 428(b) of the Higher Education Act (20 U.S.C. 1078(B); or(9)  a State institution or a nonprofit private     organization designated by a governmental entity to make or service student loans, provided in each case that the institution or organization services fewer than 20,000 student loan accounts of borrowers who reside in Illinois.  (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/15-10
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 15 - Licensure

Sec. 15-10. Licensee name. No person, partnership, association, corporation, limited liability company, or other entity engaged in the business regulated by this Act shall operate such business under a name other than the real names of the entity and individuals conducting such business. Such business may in addition operate under an assumed corporate name pursuant to the Business Corporation Act of 1983, an assumed limited liability company name pursuant to the Limited Liability Company Act, or an assumed business name pursuant to the Assumed Business Name Act.  (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/15-15
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 15 - Licensure

Sec. 15-15. Application process; investigation; fees.(a) The Secretary shall issue a license upon completion of all of the following:(1) the filing of an application for license with the         Secretary or the Nationwide Multistate Licensing System and Registry as approved by the Secretary;(2) the filing with the Secretary of a listing of         judgments entered against, and bankruptcy petitions by, the license applicant for the preceding 10 years;(3) the payment, in certified funds, of investigation         and application fees, the total of which shall be in an amount equal to $1,000 for an initial application and $800 for a background investigation;(4) the filing of an audited balance sheet, including     all footnotes prepared by a certified public accountant in accordance with generally accepted accounting principles and generally accepted auditing standards; notwithstanding the requirements of this subsection, an applicant that is a subsidiary may submit audited consolidated financial statements of its parent, intermediary parent, or ultimate parent as long as the consolidated statements are supported by consolidating statements that include the applicant's financial statement; if the consolidating statements are unaudited, the applicant's chief financial officer shall attest to the applicant's financial statements disclosed in the consolidating statements; and(5) an investigation of the averments required by         Section 15-30, which investigation must allow the Secretary to issue positive findings stating that the financial responsibility, experience, character, and general fitness of the license applicant and of the members thereof if the license applicant is a partnership or association, of the officers and directors thereof if the license applicant is a corporation, and of the managers and members that retain any authority or responsibility under the operating agreement if the license applicant is a limited liability company, are such as to command the confidence of the community and to warrant belief that the business will be operated honestly, fairly, and efficiently within the purpose of this Act; if the Secretary does not so find, he or she shall not issue the license, and he or she shall notify the license applicant of the denial.The Secretary may impose conditions on a license if the Secretary determines that those conditions are necessary or appropriate. These conditions shall be imposed in writing and shall continue in effect for the period prescribed by the Secretary.(b) All licenses shall be issued to the license applicant. Upon receipt of the license, a student loan servicing licensee shall be authorized to engage in the business regulated by this Act. The license shall remain in full force and effect until it expires without renewal, is surrendered by the licensee, or revoked or suspended as hereinafter provided.  (Source: P.A. 100-540, eff. 12-31-18; 100-1153, eff. 12-19-18.)
110 ILCS 992/15-25
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 15 - Licensure

Sec. 15-25. Student loan servicer license application and issuance.(a) Applicants for a license shall apply in a form prescribed by the Secretary. Each form shall contain content as set forth by rule, regulation, instruction, or procedure of the Secretary and may be changed or updated as necessary by the Secretary in order to carry out the purposes of this Act.(b) In order to fulfill the purposes of this Act, the Secretary is authorized to establish relationships or contracts with the Nationwide Multistate Licensing System and Registry or other entities designated by the Nationwide Multistate Licensing System and Registry to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this Act.(c) In connection with an application for licensing, the applicant may be required, at a minimum, to furnish to the Nationwide Multistate Licensing System and Registry information concerning the applicant's identity, including:(1) fingerprints for submission to the Federal Bureau         of Investigation or any governmental agency or entity authorized to receive such information for a State, national, and international criminal history background check; and(2) personal history and experience in a form         prescribed by the Nationwide Multistate Licensing System and Registry, including the submission of authorization for the Nationwide Multistate Licensing System and Registry and the Secretary to obtain:(A) an independent credit report obtained from a                 consumer reporting agency described in Section 603(p) of the Fair Credit Reporting Act (15 U.S.C. 1681a(p)); and(B) information related to any administrative,                 civil, or criminal findings by any governmental jurisdiction.(d) For the purposes of this Section, and in order to reduce the points of contact that the Federal Bureau of Investigation may have to maintain for purposes of subsection (c) of this Section, the Secretary may use the Nationwide Multistate Licensing System and Registry as a channeling agent for requesting information from and distributing information to the federal Department of Justice or any governmental agency.(e) For the purposes of this Section, and in order to reduce the points of contact that the Secretary may have to maintain for purposes of paragraph (2) of subsection (c) of this Section, the Secretary may use the Nationwide Multistate Licensing System and Registry as a channeling agent for requesting and distributing information to and from any source as directed by the Secretary.(f) The provisions of this Section shall not apply to a public official serving on the board of directors of a State guaranty agency.  (Source: P.A. 100-540, eff. 12-31-18; 100-1153, eff. 12-19-18.)
110 ILCS 992/15-30
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 15 - Licensure

Sec. 15-30. Averments of licensee. Each application for license shall be accompanied by the following averments stating that the applicant:(1) will file with the Secretary or Nationwide     Multistate Licensing System and Registry, as applicable, when due, any report or reports that it is required to file under any of the provisions of this Act;(2) has not committed a crime against the law of this         State, any other state, or of the United States involving moral turpitude or fraudulent or dishonest dealing, and that no final judgment has been entered against it in a civil action upon grounds of fraud, misrepresentation, or deceit that has not been previously reported to the Secretary;(3) has not engaged in any conduct that would be         cause for denial of a license;(4) has not become insolvent;(5) has not submitted an application for a license         under this Act that contains a material misstatement;(6) has not demonstrated by course of conduct,         negligence or incompetence in performing any act for which it is required to hold a license under this Act;(7) will advise the Secretary in writing or the         Nationwide Multistate Licensing System and Registry, as applicable, of any changes to the information submitted on the most recent application for license or averments of record within 30 days of the change; the written notice must be signed in the same form as the application for the license being amended;(8) will comply with the provisions of this Act and         with any lawful order, rule, or regulation made or issued under the provisions of this Act;(9) will submit to periodic examination by the         Secretary as required by this Act; and(10) will advise the Secretary in writing of         judgments entered against and bankruptcy petitions by the license applicant within 5 days after the occurrence.A licensee who fails to fulfill the obligations of an averment, fails to comply with averments made, or otherwise violates any of the averments made under this Section shall be subject to the penalties of this Act.  (Source: P.A. 100-540, eff. 12-31-18; 100-1153, eff. 12-19-18.)
110 ILCS 992/15-35
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 15 - Licensure

Sec. 15-35. Refusal to issue license. The Secretary shall refuse to issue or renew a license if:(1) it is determined that the applicant is not in         compliance with any provisions of this Act;(2) there is substantial continuity between the         applicant and any violator of this Act; or(3) the Secretary cannot make the findings         specified in subsection (a) of Section 15-15 of this Act. (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/15-40
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 15 - Licensure

(110 ILCS 992/15-40)Sec. 15-40. License issuance and renewal; fees.(a) Licenses shall be renewed every year using the common renewal date of the Nationwide Multistate Licensing System and Registry, as adopted by the Secretary. Properly completed renewal application forms and filing fees may be received by the Secretary 60 days prior to the license expiration date, but, to be deemed timely, the completed renewal application forms and filing fees must be received by the Secretary no later than 30 days prior to the license expiration date.(b) It shall be the responsibility of each licensee to accomplish renewal of its license. Failure by a licensee to submit a properly completed renewal application form and fees in a timely fashion, absent a written extension from the Secretary, shall result in the license becoming inactive.(c) No activity regulated by this Act shall be conducted by the licensee when a license becomes inactive. An inactive license may be reactivated by the Secretary upon payment of the renewal fee and payment of a reactivation fee equal to the renewal fee.(d) A licensee ceasing an activity or activities regulated by this Act and desiring to no longer be licensed shall so inform the Secretary in writing and, at the same time, convey any license issued and all other symbols or indicia of licensure. The licensee shall include a plan for the withdrawal from regulated business, including a timetable for the disposition of the business, and comply with the surrender guidelines or requirements of the Secretary. Upon receipt of such written notice, the Secretary shall post the cancellation or issue a certified statement canceling the license.(e)  The expenses of administering this Act, including investigations and examinations provided for in this Act, shall be borne by and assessed against entities regulated by this Act. Subject to the limitations set forth in Section 15-15 of this Act, the Secretary shall establish fees by rule in at least the following categories:(1) investigation of licensees and license applicant     fees;(2) examination fees;(3) contingent fees;  and(4) such other categories as may be required to     administer this Act. (Source: P.A. 100-540, eff. 12-31-18; 100-1153, eff. 12-19-18.)
110 ILCS 992/Art. 20 heading
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 20 - Supervision

   ARTICLE 20.  SUPERVISION  (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/20-10
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 20 - Supervision

Sec. 20-10. Bank and Trust Company Fund.  All moneys received by the Secretary under this Act in conjunction with the provisions relating to student loan servicers shall be paid into and all expenses incurred by the Secretary under this Act in conjunction with the provisions relating to student loan servicers shall be paid from the Bank and Trust Company Fund.  (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/20-20
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 20 - Supervision

Sec. 20-20. Subpoena power of the Secretary.(a) The Secretary shall have the power to issue and to serve subpoenas and subpoenas duces tecum to compel the attendance of witnesses and the production of all books, accounts, records, and other documents and materials relevant to an examination or investigation. The Secretary, or his or her duly authorized representative, shall have power to administer oaths and affirmations to any person.(b) In the event of noncompliance with a subpoena or subpoena duces tecum issued or caused to be issued by the Secretary, the Secretary may, through the Attorney General, petition the circuit court of the county in which the person subpoenaed resides or has its principal place of business for an order requiring the subpoenaed person to appear and testify and to produce such books, accounts, records, and other documents as are specified in the subpoena duces tecum. The court may grant injunctive relief restraining the person from advertising, promoting, soliciting, entering into, offering to enter into, continuing, or completing any student loan servicing transaction. The court may grant other relief, including, but not limited to, the restraint, by injunction or appointment of a receiver, of any transfer, pledge, assignment, or other disposition of the person's assets or any concealment, alteration, destruction, or other disposition of books, accounts, records, or other documents and materials as the court deems appropriate, until the person has fully complied with the subpoena or subpoena duces tecum and the Secretary has completed an investigation or examination.(c) If it appears to the Secretary that the compliance with a subpoena or subpoena duces tecum issued or caused to be issued by the Secretary pursuant to this Section is essential to an investigation or examination, the Secretary, in addition to the other remedies provided for in this Act, may, through the Attorney General, apply for relief to the circuit court of the county in which the subpoenaed person resides or has its principal place of business. The court shall thereupon direct the issuance of an order against the subpoenaed person requiring sufficient bond conditioned on compliance with the subpoena or subpoena duces tecum. The court shall cause to be endorsed on the order a suitable amount of bond or payment pursuant to which the person named in the order shall be freed, having a due regard to the nature of the case.(d) In addition, the Secretary may, through the Attorney General, seek a writ of attachment or an equivalent order from the circuit court having jurisdiction over the person who has refused to obey a subpoena, who has refused to give testimony, or who has refused to produce the matters described in the subpoena duces tecum.  (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/20-25
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 20 - Supervision

Sec. 20-25. Report required of licensee. In addition to any reports required under this Act, every licensee shall file any other report the Secretary requests.  (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/20-35
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 20 - Supervision

Sec. 20-35. Investigation of complaints.  The Secretary shall at all times maintain staff and facilities adequate to receive, record, and investigate complaints and inquiries made by any person concerning this Act and any licensees under this Act. Each licensee shall open its books, records, documents, and offices wherever situated to the Secretary or his or her appointees as needed to facilitate such investigations.  (Source: P.A. 100-540, eff. 12-31-18.)
110 ILCS 992/20-45
2021 Illinois Compiled Statutes|Chapter 110 - HIGHER EDUCATION|110 ILCS 992/ - Student Loan Servicing Rights Act.|Article 20 - Supervision

Sec. 20-45. Confidential information.  In hearings conducted under this Act, information presented into evidence that was acquired by the licensee when serving any individual in connection with a student loan, including all financial information of the individual, shall be deemed strictly confidential and shall be made available only as part of the record of a hearing under this Act or otherwise (i) when the record is required, in its entirety, for purposes of judicial review or (ii) upon the express written consent of the individual served, or in the case of his or her death or disability, the consent of his or her personal representative.  (Source: P.A. 100-540, eff. 12-31-18.)