Ill. Admin. Code tit. 92 § 1019.35

Current through Register Vol. 48, No. 49, December 6, 2024

Section 1019.35 - Processing Transactions

a) Beginning September 1, 2020, all applications for title, registration, or title and registration submitted to the Department by persons acting as remittance agents shall be submitted by an electronic registration and titling process, via either an approved electronic registration and titling service provider or through the Secretary of State's website.

b) All transactions shall be electronically submitted to the Department within 5 days after receipt by the remittance agent. All supporting documentation is required and must be submitted within 20 calendar days after the submission of the electronic application. Failure to comply with this Section shall be grounds for suspension or revocation of the remittance agent's license, based upon the severity of the violation.

c) Any person who picks up or receives transactions from other remittance agents, dealers, currency exchanges, financial institutions or any other person exempt from being licensed as a remittance agent under IVC Section 3-902 shall be considered a remittance agent under provisions of IVC chapter 3, Article IX and required to be licensed in accordance with this Part.

d) The names of all employees of the remittance agent shall appear on the remittance agent's license application. Those employees shall be issued I.D. cards and be required to present their I.D. when attempting to process transactions. The Department shall be notified in writing of any changes in personnel, business location, and/or the business name during the licensing year within 10 calendar days of the occurrence after the change.

e) No remittance agent shall employ any individual, or any member of that individual's immediate family, who is employed by the Office of the Secretary of State. This prohibition shall not apply to persons employed by a remittance agent prior to April 10, 1983.

f) All electronically submitted applications must include the remittance agent's assigned number in the designated position on the form. Any other remittance agent involved in the transaction shall stamp his/her remittance agent number in the remarks section on the front of the application.

g) The fee submitted to the Department shall be affixed to the supporting documentation required by subsection (b). Failure of the remittance agent to affix the check, electronic payment, or money order to the proper application shall result in the rejection of the transaction.

Ill. Admin. Code tit. 92, § 1019.35

Amended at 42 Ill. Reg. 223, effective 12/19/2017

Amended at 45 Ill. Reg. 727, effective 12/23/2020