Ill. Admin. Code tit. 92, § 1019.10 - Application for Remittance Agency License and Renewal

a) If a person wishes to become a remittance agent, he/she shall file an application and bond pursuant to Sections 3-904 and 3-905 of the Illinois Vehicle Code [ 625 ILCS 5 ] (IVC). The application shall be filed with the Office of the Secretary of State as set forth in subsection (f).

b) The notarized application shall contain the following information:

1) the previous year's license number if the person is currently licensed as a remittance agent;

2) the name of the business;

3) the location of the business. A licensee shall not do business at a location not set forth in his or her license. (IVC Section 3-908) The location of the business shall also include a working printer and facsimile capabilities;

4) the applicant's home address, home telephone number and business telephone number;

5) the applicant's business, occupation or profession;

6) the total amount of cash, checks, electronic payments or money orders made payable to the remitter received for remittance to the State in the highest 15 day period in the preceding year if the person is currently licensed;

7) whether the applicant, a member of his/her immediate family, or any employee of the applicant is an employee of the Secretary of State;

8) whether the applicant has ever been involved in civil or criminal litigation and if so, the type of litigation, the date and suit or charge, the court in which the matter was heard, the style or caption of the case, the disposition of the matter, and if the judgment has been satisfied;

9) whether a civil, criminal, or administrative proceeding under the Retailers' Occupation Tax Act [ 35 ILCS 120 ] or IVC Chapter 3, Article I or VII has determined that the applicant has committed a violation within the past 3 years; and

10) a list of the employees and an authorization to conduct a background check of each employee.

c) A surety bond shall be posted for each location where the applicant intends to do business as a remittance agent. Each bond shall be for $20,000 or in the amount of cash, checks, electronic payments or money orders made payable to the remitter received for remittance to the Department during the highest 15 day period in the year preceding the year for which the license is applied, whichever is greater. The bond shall be issued by a bonding or insurance company authorized to do business in Illinois. The Department shall use a list issued by the Department of Insurance to determine if the bonding or insurance company is authorized to issue the bond.

d) The applicant shall also submit the statutory fee provided in IVC Section 3-905 for application. A license is issued for a period of one year terminating on December 31 each year.

e) A remittance agent wishing to renew his/her license shall submit the material required by this Section to the Department between September 1 and December 31 of the year before the new license will become effective.

f) All remittance agent license applications and corresponding materials should be submitted to:

Office of the Secretary of State

Vehicle Services Department

Howlett Building, Room 069

Springfield, Illinois 62756

g) The Department will make available the application form to any person who requests one. Only the Department's form will be accepted to apply for a license to operate as a remittance agent.

Notes

Ill. Admin. Code tit. 92, § 1019.10

Amended at 42 Ill. Reg. 223, effective 12/19/2017 Amended at 43 Ill. Reg. 6231, effective 5/9/2019