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IL SB3006
Bill
Status
5/6/2022
Primary Sponsor
Ram Villivalam
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AI Summary
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Amends identification requirements for repossession agency license applicants, replacing the requirement for a photograph taken within one year of application with a valid State or U.S. government-issued photo identification card
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Extends the Commission's notification timeline for recovery permit applications from 10 days to 14 days after receipt of criminal history records check, and allows the Commission to set matters for administrative hearings to determine applicant fitness
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Allows recovery employees to work under their recovery permit for multiple licensed repossession agencies simultaneously, rather than being limited to a single employer
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Updates fee payment procedures to allow electronic payments at the Commission's discretion and clarifies that all fees are non-refundable once paid
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Establishes new renewal application timelines requiring submission no earlier than 90 days and no later than 45 days before license or permit expiration, with existing licenses continuing in full force until final agency decision on renewal applications
Legislative Description
COLLATERAL RECOVERY ACT
Last Action
Public Act . . . . . . . . . 102-0748
5/6/2022