reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart B - PAWNSHOP LICENSE › Section 360.160 - Expiration and Renewal of Licenses; Fees

Current through Register Vol. 48, No. 28, July 12, 2024
a) License Expiration. Every license shall
				expire on December 31 of each year. The holder of a license may request to
				renew the license by filing an application with the Secretary.
b) License Renewal. All applications for
				pawnshop license renewal for the succeeding year must be submitted to NMLS
				between November 1 and December 31 of each year.
c) The payment of a nonrefundable application
				fee in the amount of $1,000 shall accompany an application to renew a pawnshop
				license. Unless otherwise permitted by the Secretary, the payment of all fees
				shall be made by an electronic transfer of funds or an automatic debit of an
				account.
d) Transition Period
				Renewal: All licenses issued or renewed after June 30, 2017 shall continue to
				operate without interruption until December 31, 2018, the new operator license
				expiration date. Thereafter, licenses shall be renewed for a period of one
				year, expiring December 31 of each year. Licenses shall renew subject to the
				requirements outlined in this Section.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart C - FORMS › Section 360.200 - Purpose and Scope

Current through Register Vol. 48, No. 28, July 12, 2024
This Subpart sets forth the forms required to be filed by
				  statute or rule for reports, applications, and other requests. The forms and
				  instructions can be obtained from the Division.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart C - FORMS › Section 360.210 - Forms

Current through Register Vol. 48, No. 28, July 12, 2024
a) Pawnshop
				Disclosure Of Business Activities Report (Disclosure Report). This form is an
				annual report that shall be completed, by each pawnshop to disclose such
				information, for the preceding calendar year, as required by the Secretary
				pursuant to Section 7.5 of the Act. The Secretary, as often as the Secretary
				shall deem necessary or proper, may require a pawnshop to submit a full and
				detailed report of its operations, including, but not limited to, the number of
				pawns made, the amount financed on pawn transactions, and the number and amount
				of pawns surrendered to law enforcement. The licensee must file the Disclosure
				Report with the Secretary no later than 30 calendar days following the end of
				each calendar year.
b) Application
				For A Change In Control Or A Change In The Form Of Ownership Of An Illinois
				Pawnshop. This form shall be completed, according to the Secretary's
				instructions, in order to apply for the approval of a change in control or a
				change in the form of ownership of a pawnshop as required in Section
				360.150.
				All requests for an application may be directed to the Department of Financial
				and Professional Regulation-Division of Banking, Pawnbroker Regulation Section,
				320 W. Washington Street, Springfield IL 62786, Telephone (217) 785-2900, or
				can be found on the NMLS website at
www.nmls.org
and/or the Department website at
www.idfpr.com
.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart D - UNIFORM RULES FOR HEARINGS BEFORE THE SECRETARY › Section 360.300 - Scope

Current through Register Vol. 48, No. 28, July 12, 2024
This Subpart prescribes rules of practice and procedure
				  applicable to hearings as a result of the following administrative decisions
				  made by the Secretary:
a) orders under
				Section 0.05(a)(7) of the Pawnbroker Regulation Act [205
				ILCS 510/0.05(a)(7) ];
b) assessment of civil money penalties under
				Section 0.05(a)(6) of the Pawnbroker Regulation Act [205
				ILCS 510/0.05(a)(6) ];
c) suspension of license under Section
				0.05(a)(7) of the Pawnbroker Regulation Act [205
				ILCS 510/0.05(a)(7) ];
d) revocation of license under Section
				0.05(a)(10) of the Pawnbroker Regulation Act [205
				ILCS 510/0.05(a)(10) ]; and
e) denial of an application under Section
				360.120
				of this Part.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart D - UNIFORM RULES FOR HEARINGS BEFORE THE SECRETARY › Section 360.310 - Procedure for Hearings before the Secretary

Current through Register Vol. 48, No. 28, July 12, 2024
If the respondent has specific grounds for believing the
				  evidence upon which an administrative decision is based is not factual, then
				  the respondent may request a hearing before the Secretary. The procedure for
				  hearings before the Secretary will be conducted according to 38 Ill. Adm. Code
				  100.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart E - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS RELATING TO ORDERS › Section 360.400 - Scope

Current through Register Vol. 48, No. 28, July 12, 2024
The rules and procedures in this Subpart shall apply to
				  proceedings in connection with an order issued by the Secretary pursuant to
				  Section 0.05(a)(7) of the Act [205 ILCS
				  510/0.05(a)(7)]. The Secretary may
				  issue an order to a licensee, principal party, employee, agent, or other entity
				  doing business without the required license.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart E - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS RELATING TO ORDERS › Section 360.410 - Grounds for an Order

Current through Register Vol. 48, No. 28, July 12, 2024
An order may be issued when, in the opinion of the Secretary,
				  the licensee, principal party, employee, agent, or any other entity doing
				  business without the required license is violating, has violated, or is about
				  to violate, any law, rule, or order relating to a pawnshop or is engaged, has
				  engaged, or is about to engage in any unethical or fraudulent
				  activity.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart E - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS RELATING TO ORDERS › Section 360.420 - Effective Date of Order; Service

Current through Register Vol. 48, No. 28, July 12, 2024
An order issued by the Secretary is effective when served
				  upon the licensee, agent, or other entity doing business without the required
				  license. All orders shall remain effective and enforceable when served, except
				  to the extent they are stayed, modified, terminated, or set aside by the
				  Secretary. Service of an order shall be made upon every party of record by hand
				  delivery or by certified mail, return receipt requested. Delivery to the United
				  States Postal Service shall be presumed to constitute delivery to the
				  respondent, agent, or other entity doing business without the required
				  license.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart F - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS RELATING TO ASSESSMENT AND COLLECTION OF CIVIL MONEY PENALTIES › Section 360.500 - Scope

Current through Register Vol. 48, No. 28, July 12, 2024
The rules and procedures of this Subpart shall apply to
				  proceedings to assess and collect civil money penalties. The Secretary has the
				  power to assess civil money penalties pursuant to Section 0.05(a)(6) of the
				  Act.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart F - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS RELATING TO ASSESSMENT AND COLLECTION OF CIVIL MONEY PENALTIES › Section 360.510 - Assessment of Penalties

Current through Register Vol. 48, No. 28, July 12, 2024
a) Grounds.
				Pursuant to Section 0.05(a)(6) of the Act [205
				ILCS 510/0.05(a)(6)], civil penalties
				may be imposed against any person for each violation of any provision of the
				Act, any rule promulgated in accordance with the Act, any State or federal law
				affecting pawnbrokers, or any order issued by the Secretary based upon the
				seriousness of the violation.
b)
				Amount. The Secretary may assess civil penalties up to $10,000 for each day for
				each violation.
c) Relevant
				Considerations. In determining the amount of the civil penalty to be assessed,
				the Secretary shall consider the gravity of the violation, the history of
				previous violations, the financial resources and good faith of the person, and
				any such other matters as justice may require.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart F - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS RELATING TO ASSESSMENT AND COLLECTION OF CIVIL MONEY PENALTIES › Section 360.520 - Effective Date of, Payment under, and Service of an Order to Pay

Current through Register Vol. 48, No. 28, July 12, 2024
a) Effective Date.
				Unless otherwise provided, civil penalties are due and payable 60 days after
				the order is served on the respondent.
b) If the respondent both requests a hearing
				before the Secretary and serves an answer, civil penalties are due and payable
				60 days from the date of the Secretary's determination or after the
				respondent's default unless the Secretary's determination provides for a
				different period of payment or the civil penalty is rescinded.
c) Civil penalties assessed pursuant to an
				order to pay issued upon consent are due and payable within the time specified
				in the order.
d) Payment. All
				penalties collected under this Subpart shall be paid by certified check, money
				order, or other method of payment determined by the Division and be made
				payable to the Division.
e)
				Service. Service of a civil money penalty shall be made upon each respondent by
				hand delivery or by certified mail, return receipt requested. Delivery to the
				United States Postal Service shall be presumed to constitute delivery to the
				respondent.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart G - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS FOR REVOCATION OR SUSPENSION OF LICENSE › Section 360.600 - Scope

Current through Register Vol. 48, No. 28, July 12, 2024
The rules and procedures in this Subpart shall apply to
				  proceedings in connection with the suspension of license of a pawnshop pursuant
				  to Section 0.05(a)(7) of the Act and the revocation of license of a pawnshop
				  pursuant to Section 0.05(a)(10) of the Act. The revocation or suspension of
				  license shall not impair or affect the obligation of either the pawnbroker or
				  the pledger to fulfill the terms of any preexisting memorandum, contract, or
				  note.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart G - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS FOR REVOCATION OR SUSPENSION OF LICENSE › Section 360.610 - Grounds for Suspension of License

Current through Register Vol. 48, No. 28, July 12, 2024
The following are grounds for suspension of license pursuant
				  to Section 0.05(a)(7) of the Pawnbroker Regulation Act [205 ILCS
				  510/0.05(a)(7) ]:
a) violations of the Pawnbroker Regulation
				Act;
b) violations of any rule
				promulgated in accordance with the Pawnbroker Regulation Act; or
c) violations of any other applicable law in
				connection with the operations of a pawnshop.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart G - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS FOR REVOCATION OR SUSPENSION OF LICENSE › Section 360.620 - Grounds for Revocation of License

Current through Register Vol. 48, No. 28, July 12, 2024
The following are grounds for revocation of license pursuant
				  to Section 0.05(a)(10) of the Act:
a)
				a licensee has been convicted of a felony in connection with the operations of
				a pawnshop;
b) a licensee knowingly
				or recklessly violates, or has continuously violated, the Act or State or
				federal law or regulation, a rule promulgated in accordance with the Act, or
				any order of the Secretary;
c) a
				fact or condition exists that, if it had existed or had been known at the time
				of the original application, would have justified license refusal;
d) the licensee knowingly submits materially
				false or misleading documents with the intent to deceive the Secretary or any
				other party; or
e) the licensee is
				unable or ceases to continue to operate the pawnshop.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart G - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS FOR REVOCATION OR SUSPENSION OF LICENSE › Section 360.630 - Notice to Customers

Current through Register Vol. 48, No. 28, July 12, 2024
If the Secretary enters an order revoking the license of a
				  pawnshop, the Secretary shall, on the day the order becomes final, or such
				  other day as the order prescribes, mail a written notification of revocation of
				  license to all persons who have things in pledge at the most recent address
				  listed on the pawn ticket. The Secretary shall also publish the notification in
				  two consecutive issues of a local newspaper of general circulation. The
				  Secretary shall be reimbursed by the licensee for all expenses incurred in
				  connection with the notification. The Notification of License Revocation shall
				  include the information provided in substantially the following form:
NOTIFICATION OF LICENSE REVOCATION (centered, in caps and
				  bold)
(DATE)
1. Pursuant
				to Section 0.05(a)(10) of the Pawnbroker Regulation Act [205 ILCS
				510/0.05(a)(10) ], the license of
				(name of pawnshop) has been revoked as of (the date the order becomes
				final).
2. (Name and address of
				pawnshop) is no longer permitted to engage in the business of receiving
				property in pledge or as security for money or other thing advanced.
3. The revocation of license shall not impair
				or affect the obligation of either the pawnbroker or the pledger to fulfill the
				terms of any preexisting memorandum, contract, or note.
4. If you have a current business transaction
				with (name and address of pawnshop), you should contact (address and phone
				number of Secretary's agent) within 30 business days to make arrangements for
				the disposition of any business transaction.
5. The grounds for the license revocation are
				(list all grounds as stated in the order).
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart G - RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS FOR REVOCATION OR SUSPENSION OF LICENSE › Section 360.640 - Effective Date of Revocation or Suspension; Service

Current through Register Vol. 48, No. 28, July 12, 2024
A revocation or suspension of license issued by the Secretary
				  is effective when served upon the respondent unless another date is specified.
				  A suspension of license shall not exceed 30 days. All revocations or
				  suspensions shall remain effective and enforceable, except to the extent they
				  are stayed, modified, terminated, or set aside by the Secretary. Service of the
				  revocation or suspension of license shall be made upon every respondent by hand
				  delivery or by certified mail, return receipt requested. Delivery to the United
				  States Postal Service shall be presumed to constitute delivery to the
				  respondent.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart H - FEE SCHEDULE FOR UNREGISTERED BUYERS › Section 360.710 - Temporary Buying Location Registration Fees

Current through Register Vol. 48, No. 28, July 12, 2024
In all counties of Illinois, prior to commencing business,
				  each unregistered buyer shall pay a registration fee of $100 to the Sheriff of
				  the county in which it seeks to conduct business. The conduct of business at a
				  single temporary buying location, defined in Section
				  360.700, for
				  consecutive days will require a single registration fee of $100. A separate
				  registration fee is required for each temporary buying location. Each period of
				  consecutive days, even if only separated by a single day, requires a separate
				  registration fee of $100.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 360 - LICENSING AND REGULATION OF PAWNBROKERS › Subpart H - FEE SCHEDULE FOR UNREGISTERED BUYERS › Section 360.700 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
As stated in Section 15(a) of the Act and for purposes of
				  this Subpart:
"Temporary buying location" means a location used by an
				  unregistered buyer, including, but not limited to, hotels and motels.
"Unregistered buyer" means an individual business, or an
				  agent of an individual business, engaged in the business of purchasing from the
				  public, scrap precious metals, including, but not limited to, jewelry, precious
				  stones, semi-precious stones, coins, silver, gold, and platinum, that conducts
				  transactions at a temporary buying location but is not registered under the
				  Act.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 365 - BANKS ENGAGING IN PAYDAY LENDING › Section 365.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Bank" means a state-chartered bank chartered under the
				provisions of the Illinois Banking Act [205 ILCS 5 ].
"Department" means the Illinois Department of Financial and
				Professional Regulation.
"Division" means the Illinois Department of Financial and
				Professional Regulation-Division of Banking.
"Payday Loan" or "loan" means a loan with a finance charge
				exceeding an annual percentage rate of 36% and with a term that does not exceed
				120 days, including any transaction conducted via any medium whatsoever,
				including, but not limited to, paper, facsimile, Internet, or telephone, in
				which:
A lender accepts one or more checks dated on the date written
				and agrees to hold them for a period of days before deposit or presentment, or
				accepts one or more checks dated subsequent to the date written and agrees to
				hold them for deposit; or
A lender accepts one or more authorizations to debit a
				consumer's account; or
A lender accepts an interest in a consumer's wages, including,
				but not limited to, a wage assignment.
"PLRA" means the Payday Loan Reform Act [815 ILCS 122 ]. Banks
				are expressly exempt from the provisions of the PLRA.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 365 - BANKS ENGAGING IN PAYDAY LENDING › Section 365.30 - Applicability of Rule

Current through Register Vol. 48, No. 28, July 12, 2024
This Part shall apply only to payday loans made by a bank.
				Products and services offered by a bank that are not offered by lenders
				governed by the PLRA shall not be subject to this Part.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 365 - BANKS ENGAGING IN PAYDAY LENDING › Section 365.40 - Issuance of Payday Loans by Banks

Current through Register Vol. 48, No. 28, July 12, 2024
a) A bank making a payday loan shall
			 satisfactorily address all safety and soundness considerations identified by
			 the Division in its examination and supervision of the bank. Safety and
			 soundness considerations include, without limitation:
1) Risk-management practices for payday loan
			 activities, particularly with regard to concentrations of payday
			 loans;
2) Capital adequacy,
			 depending on the level and volatility of risk;
3) Allowance for loan losses to ensure the
			 allowance is adequate to absorb estimated credit losses within the payday loan
			 portfolio;
4) Classification of
			 payday loans, given the unsecured nature of the credit and weakness of
			 repayment capacity inherent in payday loans; and
5) The establishment and maintenance of
			 extension, deferral, renewal and rewrite standards consistent with the
			 PLRA.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 370 - CORPORATE APPLICATIONS FOR BANKS AND CORPORATE FIDUCIARIES › Section 370.10 - Purpose and Scope

Current through Register Vol. 48, No. 28, July 12, 2024
This Part prescribes certain fee schedules and guidelines for
				the processing of corporate applications required by the Illinois Banking Act
				[205 ILCS 5 ], the Corporate Fiduciary Act [205 ILCS 620 ], the Foreign Banking
				Office Act [205 ILCS 645 ], the Foreign Bank Representative Office Act [205
				ILCS 650 ], and the rules prescribed in accordance with those
				Acts.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 370 - CORPORATE APPLICATIONS FOR BANKS AND CORPORATE FIDUCIARIES › Section 370.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Act" means the Illinois Banking Act [ 205 ILCS 5 ].
"Department" means the Department of Financial and Professional
				Regulation.
"Division" means the Department of Financial and Professional
				Regulation- Division of Banking with the authority delegated by the
				Secretary.
"Director" means the Director of the Division of Banking with
				the authority delegated by the Secretary.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 370 - CORPORATE APPLICATIONS FOR BANKS AND CORPORATE FIDUCIARIES › Section 370.40 - Special Examinations or Investigations

Current through Register Vol. 48, No. 28, July 12, 2024
a) Applications and notices submitted to the
			 Director are subject to a special investigation or examination as considered
			 necessary, in the Director's discretion, in order to make an informed decision
			 regarding the application or notice.
b) The cost for a special examination or
			 investigation performed in connection with the review of an application or
			 notice is $900 per day, per examiner.
c) The Director may consider the following
			 factors in determining whether to require an investigation or examination of
			 one or more of the entities to the transaction:
1) A question exists regarding the solvency
			 or potential solvency of the applicant or one or more of the financial
			 institutions or other entities involved in the transaction;
2) A financial institution involved in the
			 transaction has not been examined by a state, federal or foreign regulatory
			 agency within the 18-month period immediately preceding the date of submission
			 of the application or notice;
3) A
			 financial institution involved in the proposed transaction had substantive
			 violations cited in its most recent examination report, or has a less than
			 satisfactory regulatory rating;
4)
			 A question exists regarding the experience, ability, standing, trustworthiness,
			 or integrity of the existing or proposed officers, directors, managers or
			 managing participants of a party involved in the proposed
			 transaction;
5) A question exists
			 as to whether the resulting institution will operate in compliance with the
			 law;
6) A question exists as to
			 whether the resulting institution will be free from improper or unlawful
			 influence or interference from its principal shareholders with respect to
			 operation in compliance with the law;
7) A question exists as to whether the
			 resulting institution will have adequate capitalization;
8) One or more of the entities to the
			 transaction is under a regulatory restriction or subject to an enforcement
			 action or supervisory agreement;
9)
			 Such other factors as determined in the discretion of the Director.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 370 - CORPORATE APPLICATIONS FOR BANKS AND CORPORATE FIDUCIARIES › Section 370.50 - Forms

Current through Register Vol. 48, No. 28, July 12, 2024
a) Forms and
			 instructions for submitting applications and notices may be obtained from the
			 Department's website or by contacting the Division's Corporate Activities
			 Section. Information that is required by another regulatory authority that is
			 also needed as part of a Division application or notice may be provided to the
			 Division by appending a copy of the information to the Division application or
			 notice. Use of the Division's form is optional; however, the material submitted
			 to the Division must contain all information requested in the Division's forms.
			 In addition, if the applicable Division application or notice requires the
			 filing of an Authorization for Release of Personal Information for necessary
			 background checks or a certification page, the applicant must sign and submit
			 the Authorization for Release of Personal Information and the certification
			 page of the application or notice, even if the Division form itself is not
			 being used.
b) If no form is
			 prescribed, the application or notice should be in writing, be signed by the
			 applicant or a duly authorized agent, and contain a concise statement of the
			 action requested.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 370 - CORPORATE APPLICATIONS FOR BANKS AND CORPORATE FIDUCIARIES › Section 370.60 - Request for Confidential Treatment

Current through Register Vol. 48, No. 28, July 12, 2024
a) Under the provisions of the Illinois
			 Freedom of Information Act [5 ILCS 140 ], an application or notice filed with
			 the Division is considered a public document and available to the public upon
			 request.
b) If the applicant is of
			 the opinion that disclosure of commercial or financial information would likely
			 result in substantial harm to the competitive position of the applicant or that
			 disclosure of information of a personal nature would result in a clearly
			 unwarranted invasion of personal privacy, a request for confidential treatment
			 must be submitted in writing concurrently with the submission of the
			 application or notice and must discuss in detail the justification for
			 confidential treatment. The justification must be provided for each response or
			 exhibit for which confidential treatment is requested.
c) The applicant's reasons for requesting
			 confidentiality should demonstrate specifically the harm that would result from
			 public release of the information. A statement simply indicating that the
			 information would result in competitive harm or that it is personal in nature
			 is not sufficient. A claim that disclosure would violate the law or policy of
			 another state is not, in and of itself, sufficient to exempt information from
			 disclosure. The applicant's demonstration that disclosure would cause
			 competitive harm or would result in an unwarranted invasion of personal privacy
			 must be sufficient to allow the Division to conclude that a Freedom of
			 Information Act [5 ILCS 140] disclosure exemption (e.g.,
			 5 ILCS 140/7(1)(b) or
			 5 ILCS 140/7(1)(g)) is applicable to the
			 information for which confidential treatment is sought.
d) Information for which confidential
			 treatment is requested should be:
1)
			 specifically referenced in the public portion of the application or notice by
			 reference to the confidential section;
2) separately bound; and
3) labeled "Confidential".
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 370 - CORPORATE APPLICATIONS FOR BANKS AND CORPORATE FIDUCIARIES › Section 370.70 - Processing of Applications or Notices; Acceptance; Abandonment

Current through Register Vol. 48, No. 28, July 12, 2024
a) On or before the
			 15th business day after initial submission of an
			 application, the Director shall issue a written notice informing the applicant
			 either that the application is complete and accepted for processing or that the
			 application is deficient and specific additional information is required. All
			 required information necessary for the Director to declare that a submission is
			 an accepted filing, including the filing fee, shall be provided to the Director
			 on or before the 31st calendar day after the date of
			 the Director's written information request. However, if, within the 30 day
			 timeframe prescribed in the information request letter, the applicant submits a
			 written request for an extension, the Director may grant an additional 30 days
			 within which to submit the information, upon a finding of good and sufficient
			 cause. If the applicant fails to submit the required information within the
			 specified timeframe, the Director shall determine the application to be
			 abandoned, without prejudice to the right to refile.
b) After the Director accepts an application,
			 he or she may request additional information in order to make any required
			 statutory findings and to make a fully informed decision. This request for
			 additional information shall be in writing. All requested information shall be
			 provided to the Director on or before the 31st
			 calendar day after the date of the Director's letter. However, if, within the
			 30 day timeframe prescribed in the letter, the applicant submits a written
			 request for an extension, the Director may grant an additional 30 days within
			 which to submit the information, upon a finding of good and sufficient cause.
			 If the applicant fails to submit the requested information within the specified
			 timeframe, the Director shall determine the application to be abandoned,
			 without prejudice to the right to refile.
c) The Director shall give written notice of
			 any submitted or accepted filing determined to be abandoned. Notice of
			 abandonment shall be effective upon the Director's mailing.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
This Part sets forth the manner in which the Office of Banks
				and Real Estate shall calculate, assess and collect Call Report Fees,
				Electronic Data Processing Fees, Foreign Bank Representative Office Regulatory
				Fees, and Corporate Fiduciary Regulatory Fees payable by state banks, foreign
				bank representative offices, and corporate fiduciaries pursuant to Section
				48(3) of the Illinois Banking Act, Section 17 of the Foreign Banking Office
				Act, Section 4 of the Foreign Bank Representative Office Act, and Section 5-10
				of the Corporate Fiduciary Act. Nothing in this Part is to be construed as
				limiting or being applicable to other fees that the Office of Banks and Real
				Estate may assess pursuant to the Illinois Banking Act, Foreign Banking Office
				Act, Foreign Bank Representative Office Act, Corporate Fiduciary Act, or other
				State laws or rules.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Call Report Fee" means the fee to be paid to the Commissioner
				by each state bank pursuant to Section 48(3)(a) of the Act.
"Commissioner" means the Commissioner of the Office of Banks
				and Real Estate or a person authorized by the Commissioner to act in the
				Commissioner's stead.
"Corporate fiduciary" shall have the meaning ascribed to that
				term in Section 1-5.05 of the Corporate Fiduciary Act [205 ILCS
				620/1-5.05 ].
"Corporate Fiduciary Regulatory Fee" means the fee to be paid
				to the Commissioner by each corporate fiduciary pursuant to Section 5-10(a) of
				the Corporate Fiduciary Act.
"Electronic Data Processing Fee" means the fee to be paid to
				the Commissioner by each state bank pursuant to Section 48(3)(a-2) of the
				Act.
"Foreign bank representative office" shall mean those entities
				subject to the Foreign Bank Representative Office Act [205 ILCS 650 ].
"State bank" means a banking corporation that has a banking
				charter issued by the Commissioner under the Act, and shall include a foreign
				banking office holding a certificate of authority pursuant to the Foreign
				Banking Office Act [205 ILCS 645 ].
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.31 - Electronic Data Processing Fee

Current through Register Vol. 48, No. 28, July 12, 2024
Each state bank shall pay to the Commissioner an Electronic
				Data Processing (EDP) Fee equal to 16% of the state bank's Call Report Fee. The
				EDP Fee shall be calculated by the Commissioner and billed to state banks for
				remittance with the Call Report Fee.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.32 - Assessment of 3, 4, or 5 Rated State Banks

Current through Register Vol. 48, No. 28, July 12, 2024
If a state bank has received a Uniform Financial Institution
				Rating System (UFIRS) composite rating of 3, 4, or 5 on its last state or
				federal examination, the state bank's total quarterly fee shall be increased by
				25% for a 3 rated bank and 50% for a 4 or 5 rated bank on the bank's subsequent
				quarter billing. This assessment shall stay in effect until the quarter
				following the state bank's receipt of a UFIRS composite rating of 1 or 2 at the
				next state or federal examination.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.33 - Foreign Banking Office Minimum Quarterly Fee

Current through Register Vol. 48, No. 28, July 12, 2024
The minimum quarterly fee for a foreign banking office holding
				a certificate of authority pursuant to the Foreign Banking Office Act [205 ILCS
				645 ] shall be $2,500.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.34 - Corporate Fiduciary Regulatory Fees

Current through Register Vol. 48, No. 28, July 12, 2024
a) Each corporate fiduciary shall pay to the
			 Commissioner a Corporate Fiduciary Regulatory Fee that shall be paid in
			 quarterly installments equal to one-fourth of the sum of an annual fixed fee
			 plus a variable exam-day fee.
b)
			 The annual fixed fee shall be $200 for a trust department and for individuals
			 or partnerships that possess a certificate of authority to accept and execute
			 trusts. The annual fixed fee for a trust company shall be $500. The variable
			 exam-day fee shall be calculated at the rate of $450 for each one-half
			 examiner-day of work expended by the Commissioner's examination personnel in
			 performing the most recent statutorily required examination of the corporate
			 fiduciary, subject to a minimum one-day charge.
c) The Corporate Fiduciary Regulatory Fee
			 shall be calculated by the Commissioner and billed to the corporate fiduciaries
			 on the last day of each calendar quarter, with payment due within 30 calendar
			 days after the billing date.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.36 - Foreign Bank Representative Office Regulatory Fees

Current through Register Vol. 48, No. 28, July 12, 2024
a) An applicant for a foreign bank
			 representative office license shall submit a completed application, in a form
			 prescribed by the Commissioner, along with an application fee of
			 $700.
b) The Commissioner shall
			 annually send a foreign bank representative office licensee an annual license
			 renewal notice. The annual renewal fee shall be $300.
c) When the Commissioner's examination
			 personnel conduct an examination of a foreign bank representative office, the
			 variable exam-day fee shall be calculated at the rate of $350 for each one-half
			 examiner-day of work expended in performing the examination, subject to a
			 minimum one-day charge. The variable exam-day fee shall be calculated by the
			 Commissioner and billed to the foreign bank representative office on the last
			 day of the calendar quarter following the calendar quarter in which the
			 examination occurred.
d) Payment of
			 the fees prescribed in subsections (b) and (c) of this Section shall be due
			 within 30 calendar days of the billing date. Any foreign bank representative
			 office that has failed to submit any required fee within 60 calendar days after
			 the billing date may incur an additional late fee of $100 per day.
e) Unless otherwise permitted by the
			 Commissioner, payment of the application fee and annual renewal fee provided
			 for in this Section shall be made to the Commissioner by certified check, money
			 order, an electronic transfer of funds, or an automatic debit of an account.
			 Certified checks or money orders shall be made payable to the Office of Banks
			 and Real Estate.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.40 - Calculation of Call Report and Electronic Data Processing Fees for Resulting State Banks

Current through Register Vol. 48, No. 28, July 12, 2024
a) When a state
			 bank results from a conversion by any financial institution other than a state
			 bank and no statement of condition for such resulting state bank for the
			 preceding quarter was submitted to the Commissioner pursuant to Section 47 of
			 the Act, the Call Report Fee and EDP Fee shall be calculated for such resulting
			 state bank in the same manner set forth in Section
			 375.30 and
			 375.31
			 of this Part based on the most recent periodic report of condition submitted by
			 the converted financial institution to its primary regulator.
b) When a state bank results from a merger of
			 one or more financial institutions into the resulting state bank, the Call
			 Report Fee and EDP fee shall be calculated for such resulting state bank in the
			 manner set forth in Section
			 375.30 and
			 375.31
			 of this Part based on the aggregate of the total assets reported in the most
			 recent periodic reports of conditions submitted by the merged financial
			 institutions to their primary regulators.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.41 - Calculation of Corporate Fiduciary Regulatory Fees for Resulting Corporate Fiduciaries

Current through Register Vol. 48, No. 28, July 12, 2024
When a corporate fiduciary results from a merger of one or more
				financial institutions into the resulting corporate fiduciary, the Corporate
				Fiduciary Regulatory Fee shall be calculated for the resulting corporate
				fiduciary in the manner set forth in Section
				375.34
				of this Part. If a statutorily required examination is not performed on the
				resulting corporate fiduciary prior to a quarter end, the variable exam-day fee
				will be based on the aggregate number of exam days expended by the Commissioner
				in performing the most recent statutorily required examination for each
				corporate fiduciary involved in the merger.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.50 - Assessment of Accrued Fees Against a Converting or Merging State Bank

Current through Register Vol. 48, No. 28, July 12, 2024
When a state bank converts to a national bank, merges into a
				resulting national bank, dissolves, surrenders its certificate of authority or
				in any other manner ceases to be a state bank, such state bank shall be liable
				on a pro rata basis to the Commissioner for any accumulated Call Report Fee and
				EDP fee up to, and including, the date that the state bank ceases to be a state
				bank.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.51 - Assessment of Accrued Fees Against a Corporate Fiduciary

Current through Register Vol. 48, No. 28, July 12, 2024
When a corporate fiduciary surrenders its certificate of
				authority, that corporate fiduciary shall be liable on a pro rata basis to the
				Commissioner for the accumulated Corporate Fiduciary Regulatory Fee up to, and
				including, the date of surrender.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.60 - Credits and Additional Assessments Not Applicable to Resulting National Banks

Current through Register Vol. 48, No. 28, July 12, 2024
A financial institution other than a state bank that results
				from a conversion by, or merger with, a state bank shall not be eligible for
				any credit and shall not be liable for any additional assessments described in
				Section 48(3)(d-1) of the Act [205 ILCS
				5/48(3) (d-1)].
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 375 - CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES › Section 375.70 - Payment by Electronic Transfer or Automatic Debit

Current through Register Vol. 48, No. 28, July 12, 2024
Payment of all fees assessed by the Commissioner pursuant to
				Section 48(3) of the Act [205 ILCS
				5/48(3) ], Section 17 of the Foreign
				Banking Office Act [205 ILCS
				645/17 ], and Section 5-10 of the Corporate Fiduciary
				Act [205 ILCS
				620/5-10 ] shall be made by each state bank and
				corporate fiduciary to the Commissioner by means of electronic transfer of
				funds from, or automatic debit of, an account of the state bank or corporate
				fiduciary, unless the Commissioner authorizes a state bank or corporate
				fiduciary to submit payment by some other means.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 380 - ELIGIBLE STATE BANK AND SAVINGS BANK › Section 380.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
The applicable Act, as defined in Section
				380.20, requires the
				Secretary to examine, at least once within each time period specified in the
				applicable Act, the affairs of every state bank, as defined in Section 380.20,
				except that an examination conducted by an eligible state bank's appropriate
				federal banking agency may suffice as a substitute for the Secretary's own
				examination during alternating time periods, provided the appropriate federal
				banking agency has made such an examination. The purpose of Section
				380.20 is to define
				"eligible state bank" in a manner that enables identification of those state
				banks for which an examination conducted by the appropriate federal banking
				agency may be acceptable in lieu of the Secretary's own examination on an
				alternating basis.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 381 - EXAMINATION CONSISTENCY AND DUE PROCESS › Section 381.10 - Authority and Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
Section 48(2.1) of the Illinois Banking Act [205 ILCS 5] and
				Section 9004(f) of the Illinois Savings Bank Act [205 ILCS 205] require the
				Secretary of the Department of Financial and Professional Regulation to adopt
				rules that ensure consistency and due process in the examination process for
				banks. The statutes also permit the Secretary to establish guidelines that
				define the scope of the examination process and clarify examination items to be
				resolved. The statutes provide that the rules, formal guidance, interpretive
				letters, or opinions furnished to banks by the Secretary may be relied upon by
				the banks. Guidance or a letter based on specific circumstances affecting one
				particular bank that is furnished only to that bank may not be relied upon by
				banks generally unless that guidance or letter states
				otherwise.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 381 - EXAMINATION CONSISTENCY AND DUE PROCESS › Section 381.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
Unless specified otherwise in this Part, the following terms
				shall have the following meanings:
"Bank" means, for purposes of this Part only, a State bank
				chartered under the Illinois Banking Act or a savings bank chartered under the
				Illinois Savings Bank Act.
"Division" means the Illinois Department of Financial and
				Professional Regulation, Division of Banking.
"Examination" means, except as otherwise stated in this Part,
				an examination conducted pursuant to Section 48(2) of the Illinois Banking Act
				or an examination conducted pursuant to Section 9004 of the Illinois Savings
				Bank Act.
"Examination" does not include any action the Division is
				authorized to take on an emergency basis.
"Examination report meeting" means the meeting, at which the
				Division provides any draft examination findings, with the bank's board of
				directors and/or the bank's management. The examination report meeting
				customarily takes place after the exit meeting.
"Exit meeting" means the meeting at which the Division shares
				the preliminary results of the examination with the bank's board of directors
				and/or the bank's management. The exit meeting customarily occurs upon
				completion of an examination's field work.
"Federal financial institution regulators" means the Federal
				Deposit Insurance Corporation, the Board of Governors of the Federal Reserve
				(including Federal Reserve Banks of Chicago and Saint Louis), and the United
				States Office of the Comptroller of the Currency.
"Final examination report" means the report of the examination
				issued by the Division upon completion of the Division examination review
				process and that is delivered to the bank's board of directors and/or the
				bank's management after the examination report meeting.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 381 - EXAMINATION CONSISTENCY AND DUE PROCESS › Section 381.30 - Examination Consistency and Due Process

Current through Register Vol. 48, No. 28, July 12, 2024
To ensure consistency and due process, the Division will make
				every reasonable effort to adhere to the following standards of performance in
				conducting its examinations of banks.
a) Guidelines
1) To supplement this Part, the Division may
			 establish, and publish on the Division's website, guidelines that define the
			 scope of the examination process and clarify the manner in which examination
			 items shall be resolved. These guidelines may include:
A) protocol in identifying and addressing
			 examination findings;
B)
			 preparation of examination reports;
C) delivery of examination reports;
			 and
D) other relevant subjects in
			 accordance with Section 48(2.1) of the Illinois Banking Act.
Illinois Administrative Code › Title 38 - FINANCIAL INSTITUTIONS › Part 385 - RULES GOVERNING THE REQUEST FOR RECONSIDERATION OF EXAMINATION FINDINGS › Section 385.10 - Applicability

Current through Register Vol. 48, No. 28, July 12, 2024
This Part shall apply to requests by Regulated Financial
				Institutions for reconsideration of Material Supervisory Determinations. The
				reconsideration process provides the management of these Regulated Financial
				Institutions with an informal procedure for review of Material Supervisory
				Determinations that they believe to be incorrect or based upon erroneous
				information. Enforcement actions and the appointment of a receiver are not
				subject to reconsideration under this Part.