IL SB1799

Amends the Transmitters of Money Act (205 ILCS 657/10) to make a technical correction to licensing requirements language.

Removes redundant use of the word "the" in Section 10, which describes who must obtain a license to engage in money transmission business in Illinois.

Applies to persons selling or issuing payment instruments, transmitting money, or exchanging U.S. or foreign government currency for compensation.

Maintains existing exemption that authorized sellers of licensed transmitters do not need separate licenses.

Effective date: January 1, 1995 (original enactment date).