Ill. Admin. Code tit. 38 § 210.170

Current through Register Vol. 48, No. 43, October 25, 2024

Section 210.170 - General

a) Notary fees shall not be charged to or collected from the consumer.

b) Examination of Records

1) The Division may examine all records and investigate any or all transactions in the office of the licensee and shall charge the licensee $400 for each examiner day or portion of an examiner day.

2) The examination of the books and records of the licensee may be conducted concurrently with the examination of any other business conducted by the licensee that is regulated or licensed by the Division. A separate charge shall be made for each examiner day or portion of an examiner day.

3) The Division may conduct an examination for the purpose of verifying that the licensee has taken necessary actions to correct violations of the Act or this Part and shall charge the licensee $550 for each examiner day or portion of an examiner day, when the Director determines the verification examination must be performed on site at any facility of the licensee.

c) For the purpose of any reports required by the Division, expenses of all businesses conducted in the licensed office shall be allocated to each separate business at the end of each year. The Division shall require information as to all the businesses in the licensee's annual report.

d) A lender may charge a borrower a fee not to exceed $1 for the verification required under Section 2-15 of the Act. Only one such fee may be collected by the lender with respect to a particular loan.

Ill. Admin. Code tit. 38, § 210.170

Amended at 35 Ill. Reg. 7343, effective April 21, 2011