Ill. Admin. Code tit. 38, § 150.25 - Application for License
a) All
applications for license as a collection agency shall be submitted to the
Division, on forms provided by the Division electronically or physically, and
include:
1) Collection Agency Application
A) The name and address of all officers of
the collection agency (as defined in Section
150.20). The address shall be an
actual street address and shall include the city, state, and zip code. A post
office box number is not acceptable as an address;
B) A copy of the Articles of Incorporation
bearing the seal of the office, in the jurisdiction in which the corporation is
organized, whose duty it is to register corporations under the laws of that
jurisdiction. If it is a foreign corporation, a copy of the certificate of
authority to transact business in this State issued by the Secretary of State
is also required;
C) A copy of the
authority to transact business under the Assumed Business Name Act
[805 ILCS
405 ], issued by the Secretary of State or county
clerk's office, if required by law;
D) Proof of a $25,000 surety bond;
E) The name of the bank, savings and loan
association or other required depository in which the trust account shall be
maintained;
F) The required fee set
forth in Section 150.130; and
G) Any additional information required by the
Director to evaluate the application.
2) Branch Office Application
A) The name and license number of the main
collection agency office;
B) Name
of the manager at that branch office;
C) The required fee set forth in Section
150.130; and
D) Any additional
information required by the Director to evaluate the application.
b) If a collection
agency intends to conduct business as a collection agency as defined in the Act
at more than one office, the applicant shall also file an application for a
branch office as referenced in subsection (a)(2).
c) A licensed collection agency shall notify
the Division in the form required by the Division of a change in location of an
existing office within 10 days after the change.
Notes
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