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Illinois Statutes Chapter 205. Financial Regulation § 670/12. Other business

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

§ 12. Other business.

(a) Upon application by the licensee, and approval by the Director, the Director may approve the conduct of other businesses not specifically permitted by this Act in the licensee's place of business, unless the Director finds that such conduct will conceal or facilitate evasion or violation of this Act. Such approval shall be in writing and shall describe the other businesses which may be conducted in the licensed office.

(b) A licensee may without notice to and approval of the Director, in addition to the business permitted by this Act, conduct the following business:

(1) The business of a sales finance agency as defined in the Sales Finance Agency Act.  1

(2) The business of soliciting or selling any type of insurance provided that all such insurance transactions are conducted in accordance with and are regulated under the Illinois Insurance Code.  2

(3) The business of financing premiums for insurance.

(4) Making loans pursuant to the Financial Services Development Act.  3

The Director shall make and enforce such reasonable rules and regulations for the conduct of business under this Act in the same office with other businesses as may be necessary to prevent evasions or violations of this Act. The Director may investigate any business conducted in the licensed office to determine whether any evasion or violation of this Act has occurred.

1 205 ILCS 660/1 et seq.
2 215 ILCS 5/1 et seq.
3 205 ILCS 675/1 et seq.
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Cite this article: FindLaw.com - Illinois Statutes Chapter 205. Financial Regulation § 670/12. Other business - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-205-financial-regulation/il-st-sect-205-670-12/

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