Ill. Admin. Code tit. 38, § 1010.120 - Fees
Current through Register Vol. 46, No. 15, April 8, 2022
a) The fees listed
in this Section shall be payable to the Department, or to NMLS for transfer to
the Division, as approved by the Director. The Director will specify the form
of payment to the Division or to NMLS, which may include certified check, money
order, credit card, or other forms authorized by the Director. NMLS shall be
authorized to collect and process transaction fees or other fees related to
licensees or other persons subject to the Act.
b) License Fees
1) Application and Investigation. For each
application for an initial license, the applicant shall pay a nonrefundable
initial application fee of $1000 (see Sections 15-15 and 20-80 of the Act) and
a nonrefundable background investigation fee of $800, or the amount authorized
by Sections 15-15 and 20-80 of the Act.
2) License Renewal. For each application for
an annual renewal of a license, the applicant shall pay a nonrefundable renewal
fee of $1,000 (see Section 20-80 of the Act). In the case of an inactive
license, the applicant shall pay the nonrefundable renewal fee and an
additional nonrefundable reactivation fee equal to the renewal fee, pursuant to
Section 15-40(c) of the Act.
3)
Notice of Change of Ownership or Control. The licensee shall pay a
nonrefundable fee of $500 for each notice of change of ownership or control
filed pursuant to Section
1010.130.
4) Notice of Change of Officers or Directors
or Change of Name or Address. The licensee shall pay a nonrefundable fee of $50
for each notice of change of officers or directors or change of name or address
filed pursuant to Section 1010.130.
c) Returned Payment. Any licensee or person
who delivers a check or other payment to the Department that is returned unpaid
by the financial institution upon which it is drawn shall pay to the
Department, in addition to the amount already owed, a fee of $50.
d) Examination Fees
1) Time expended in the conduct of any
examination of the affairs of any licensee or its affiliates pursuant to
Section 15-40 of the Act shall be billed by the Department at a rate of $510
per examiner day. Fees will be billed following completion of the examination
and shall be paid within 30 days after receipt of the billing.
2) Out-of-State Travel. When out-of-state
travel occurs in the conduct of any examination, the licensee shall make
arrangements to reimburse the Department all charges for services such as
travel expenses, including airfare, hotel and per diem incurred by the
employee. These expenses are to be in accord with applicable travel regulations
published by the Department of Central Management Services and approved by the
Governor's Travel Control Board (80 Ill. Adm. Code 2800).
e) Hearings. Each party that requests a
hearing pursuant to Sections 20-30 and 20-65 of the Act shall pay a
nonrefundable fee of $500, unless the fee is waived by the Director. In
determining whether to waive the fee, the Director shall consider the financial
hardship imposed on the party.
f)
Assessments. Each licensee shall pay to the Division its pro rata share of the
cost for administration of the Act that exceeds other fees listed in this
Section, as estimated by the Division, for the current year and any deficit
actually incurred in the administration of the Act in prior years. Each
licensee's pro rata share shall be the percentage that the number of borrowers
serviced in Illinois by the licensee bears to the total number of borrowers
serviced by all licensees in Illinois.
Notes
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