815 ILCS 122/3-5
2021 Illinois Compiled Statutes|Chapter 815 - BUSINESS TRANSACTIONS|815 ILCS 122/ - Payday Loan Reform Act.|Article 3 - Licensure

Sec. 3-5. Licensure.(a) A license to make a payday loan shall state the address,  including city and state, at which  the business is to be conducted and shall state fully the name of the licensee.  The license shall be conspicuously posted in the place of business of the  licensee and shall not be transferable or assignable.(b) An application for a license shall be in writing and in a form  prescribed by the Secretary. The Secretary may not issue a payday loan  license unless and until the following findings are made:(1) that the financial responsibility, experience,     character, and general fitness of the applicant are such as to command the confidence of the public and to warrant the belief that the business will be operated lawfully and fairly and within the provisions and purposes of this Act; and(2) that the applicant has submitted such other     information as the Secretary may deem necessary.(c) A license shall be issued for no longer than one year, and no renewal  of a license may be provided if a licensee has substantially violated this  Act and has not cured the violation to the satisfaction of the Department.(d) A licensee shall appoint, in writing, the Secretary as attorney-in-fact  upon whom all lawful process against the licensee may be served with the  same legal force and validity as if served on the licensee. A copy of the  written appointment, duly certified, shall be filed in the office of the  Secretary, and a copy thereof certified by the Secretary shall be sufficient  evidence to subject a licensee to jurisdiction in a court of law. This appointment shall remain in effect while any liability remains  outstanding in this State against the licensee. When summons is served upon  the Secretary as attorney-in-fact for a licensee, the Secretary shall immediately  notify the licensee by registered mail, enclosing the summons and specifying  the hour and day of service.(e) A licensee must pay an annual fee of $1,000. In addition to the  license fee, the reasonable expense of any examination or hearing  by the Secretary under any provisions of this Act shall be borne by  the licensee. If a licensee fails to renew its license by December 1,  its license  shall automatically expire; however, the Secretary, in his or her discretion,  may reinstate an expired license upon:(1) payment of the annual fee within 30 days of the     date of expiration; and(2) proof of good cause for failure to renew.(f) Not more than one place of business shall be maintained under the  same license, but the Secretary may issue more than one license to the same  licensee upon compliance with all the provisions of this Act governing  issuance of a single license. The location, except those locations already in  existence as of June 1, 2005, may not be within one mile of a  horse race track subject to the Illinois Horse Racing Act of 1975,  within one mile of a facility at which gambling is conducted under the Illinois   Gambling Act, within one mile of the location at which a  riverboat subject to the Illinois Gambling Act docks, or within one mile of  any State of Illinois or United States military base or naval installation.(g) No licensee shall conduct the business of making loans under this  Act within any office, suite, room, or place of business in which (1) any loans are offered or made under the Consumer Installment Loan Act other than title secured loans as defined in subsection (a) of Section 15 of the Consumer Installment Loan Act and governed by Title 38, Section 110.330 of the Illinois Administrative Code or (2) any other  business is solicited or engaged in unless the other business is licensed by the Department or, in the opinion of the Secretary, the  other business would not be contrary to the best interests of consumers and  is authorized by the Secretary in writing.(g-5) Notwithstanding subsection (g) of this Section, a licensee may obtain a license under the Consumer Installment Loan Act (CILA) for the exclusive purpose and use of making title secured loans, as defined in subsection (a) of Section 15 of CILA and governed by Title 38, Section 110.300 of the Illinois Administrative Code. A licensee may continue to service Consumer Installment Loan Act loans that were outstanding as of the effective date of this amendatory Act of the 96th General Assembly.(h) The Secretary shall maintain a list of licensees that shall be  available to interested consumers and lenders and the public. The Secretary  shall maintain a toll-free number whereby consumers may obtain  information about licensees. The Secretary shall also establish a complaint  process under which an aggrieved consumer  may file a complaint against a licensee or non-licensee who violates any  provision of this Act.  (Source: P.A. 100-958, eff. 8-19-18; 101-31, eff. 6-28-19.)