Illinois HB 4814: FIRE CHIEF VEHICLE EQUIPMENT

Status: Rule 19(b) / Re-referred to Rules Committee (as of 2020-06-23)

State: Illinois · Session: 101st · Bill: HB 4814

Sponsors: Kathleen Willis

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HB4814 EngrossedLRB104 16531 BAB 29927 b

1 AN ACT concerning regulation.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Debt Management Service Act is amended by 

5changing Sections 4 and 12 as follows:

6 (205 ILCS 665/4) (from Ch. 17, par. 5304)

7 Sec. 4. Application for license. Application for a license 

8to engage in the debt management service business in this 

9State shall be made to the Secretary and shall be in writing, 

10under oath, and in the form prescribed by the Secretary.

11 Each applicant, at the time of making such application, 

12shall pay to the Secretary the sum of $30.00 as a fee for 

13investigation of the applicant, and the additional sum of 

14$100.00 as a license fee.

15 Every applicant shall submit to the Secretary, at the time 

16of the application for a license, a bond to be approved by the 

17Secretary in which the applicant shall be the obligor, in the 

18sum of $50,000 $25,000 or such additional amount as required 

19by the Secretary based on the amount of disbursements made by 

20the licensee in the previous year, and in which an insurance 

21company, which is duly authorized by the State of Illinois, to 

22transact the business of fidelity and surety insurance shall 

23be a surety.

HB4814 Engrossed- 2 -LRB104 16531 BAB 29927 b

1 The bond shall run to the Secretary for the use of the 

2Department or of any person or persons who may have a cause of 

3action against the obligor in said bond arising out of any 

4violation of this Act or rules by a license. Such bond shall be 

5conditioned that th

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