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Illinois Statutes Chapter 205. Financial Regulation § 405/4.3. Ambulatory currency exchange; investigation of application; criteria

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 4.3. Upon receipt of an application from an ambulatory currency exchange for the conduct of its business at a location to be served by it, the Secretary shall cause an investigation to be made to determine whether to issue said license. No fee shall be charged for the investigation of an application for a location license. The Secretary shall employ the following criteria in making his determination:

(1) the economic benefit and convenience to the persons to be served at the location for which a license has been requested;

(2) the effect that granting a license will have on the financial stability of community currency exchanges;

(3) safety benefits, if any, which may accrue from the granting of the location license;

(4) the effects, if any, which granting of a license will have on traffic, and traffic congestion in the immediate area of the location to be served;

(5) such other factors as the Secretary shall deem proper and relevant.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 205. Financial Regulation § 405/4.3. Ambulatory currency exchange; investigation of application; criteria - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-205-financial-regulation/il-st-sect-205-405-4-3/

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