IL HB5261

Requires currency exchange licensees to verify a purchaser's name and address using government-issued identification when selling money orders totaling $250 or more to any person in a single day

Mandates recording of the purchaser's name, address, and the type and number of the government-issued identification examined

Amends Section 17 of the Currency Exchange Act to add these new identification verification requirements

Existing recordkeeping requirements remain in place, including recording money order amount, date, and serial number, with records preserved for at least 7 years