Illinois Administrative Code

Section 190.605 Applicability of Rule This Subpart shall apply only to Payday Loans made by a credit union. Products and services offered by a credit union that are not offered by lenders governed by the PLRA shall not be subject to this Part. (Source: Added at 30 Ill. Reg. 18919…

Section 190.610 Issuance of Payday Loans by Credit Unions a) A credit union making a payday loan shall satisfactorily address all safety and soundness considerations identified by the Division in its examination and supervision of the credit union. Safety and soundness considerat…

Section 190.70 Loan Loss Accounting Procedures a) For the purpose of absorbing and reporting loan losses, all credit unions must establish, at a minimum, the following accounts in the general ledger: 1) Allowance for Loan Losses (ALL) – A portion of the statutory Regular Reserve …

Section 190.700 Definitions For purposes of this Subpart: “Act” means the Illinois Credit Union Act [205 ILCS 305]. “Compelling need” means that no other non-confidential source is available to obtain information of equal relevance. “Complete request” means a request that provide…

Section 190.701 Purpose and Scope a) Purpose. The purpose of this Subpart D is to establish the procedures and standard by which the Secretary shall determine whether to disclose confidential supervisory information in response to a request for discovery or disclosure of such inf…

Section 190.710 Requests for Confidential Supervisory Information Pursuant to Section 9.1 of the Act, a request for confidential supervisory information whether by subpoena, order, or other judicial or administrative process, shall be made to the Secretary. If the request is for …

Section 190.720 Request Submission A person requesting discovery or disclosure of confidential supervisory information under this Part shall mail or hand deliver the request to: 320 West Washington Street Attn: Credit Union Section 3rd Floor Springfield, IL 62786 and shall email …

Section 190.730 Consideration of Requests a) Standards for the Disclosure of Confidential Supervisory Information. 1) When making a determination with respect to the disclosure of confidential supervisory information, the Secretary will consider the following standards: A) the co…

Section 190.740 Disclosure of Confidential Supervisory Information a) Conditions and Limitations. The Secretary may impose any conditions and limitations on the disclosure of confidential supervisory information that are necessary to protect the confidentiality of such informatio…

Section 190.750 Retrieval and Destruction of Previously Disclosed Confidential Supervisory Information Used in Litigation At the conclusion of an action: a) the requester, and each party who may have subsequently received confidential supervisory information pursuant to a protect…

Section 190.760 Fees for Services a) The Secretary, in their sole discretion, may charge the following fees for any record search or copying performed by the Secretary: 1) Reproduction costs incurred in making copies of documents, including photocopies or converting physical docu…

Section 190.80 Use of Electronic Data Processing a) A credit union whose records or accounting system is maintained using electronic data processing (EDP) equipment must have such accounts and EDP programs to enable the credit union to complete in an accurate and timely manner al…

Section 190.90 Fixed Asset Investments a) Definitions "Fixed assets" means premises and furniture, fixtures and equipment, as those terms are defined in this Section: "Premises" includes any office, branch office, suboffice, service center, parking lot, other facility, or real es…

Section 190.APPENDIX A Estimated Monthly Income and Expenses Worksheet (Repealed) (Source: Repealed at 41 Ill. Reg. 11307, effective August 28, 2017)

Section 195.100 General The provisions of Article 1 through Article 16 of the Business Corporation Act of 1983 (Ill. Rev. Stat. 1987, ch. 32, par. 1.01 et seq.) shall apply to Development Credit Corporations providing that in the event of a conflict the provision of the Illinois …

Section 195.120 Articles of Incorporation a) A statement of the purpose for which a Development Credit Corporation is formed, as required in the Articles of Incorporation, will include the boundaries of the region within which that corporation intends to pursue that purpose. The …

Section 195.140 Member Obligations a) When called upon by a development credit corporation, a member shall make a reasonable loan to further the purpose of the corporation and subject to the maximum amount specified in Section 15 of the Act, but the corporation may not require a …

Section 195.160 State Funds The Board of Directors of a development credit corporation may accept grants or loans from, or sell non-voting stock to, a State agency but such agency will not become a voting stock holder or member of the corporation. The Director of the Department o…

Section 195.180 Reports and Examinations a) A Development Credit Corporation shall submit to the Director annually, on or before May 1, a complete statement of its financial condition in accordance with generally accepted accounting principles under the accounting standards of th…

Section 195.200 Hearing Procedures All administrative hearings shall be conducted in accordance with 38 Ill. Adm. Code 100. (Source: Amended at 46 Ill. Reg. 12550, effective July 8, 2022)

Section 200.100 Definition of Terms Used in this Part As used in this Part, unless the context otherwise requires, the term: "Act" means any Act the administration of which is vested in the Director or the Division, and the rules in this Part. "Application" as used in this Part s…

Section 200.200 Applicability This Part shall apply to all Acts under the jurisdiction of the Division unless otherwise provided in an Act, or in a rule adopted pursuant to an Act which is more specific. (Source: Amended at 47 Ill. Reg. 784, effective January 5, 2023)

Section 200.202 Notice of Summary Action An order imposing summary action affecting any license or licensee is effective upon completion of service pursuant to the provisions prescribed in the specific Act. Where service is made by registered or certified mail, the Director will,…

Section 200.205 Notification of Noncompliance or Material Change All holders of or applicants for any license issued pursuant to the Act shall submit written notification to the Director within 10 business days after becoming aware of any noncompliance with the provisions of the …

Section 200.210 Display of Certificates or Registrations Each holder of a license issued pursuant to the Act shall display it in a manner conspicuous to the public or maintain it at its principal place of business for inspection upon request by the public.

Section 200.215 Prohibition on Filing Application No person or party whose application has been denied or refused or whose license has been revoked for a violation of the Act shall be entitled to file another application within one year from the effective date of such denial, ref…

Section 200.220 Computation of Time The time within which an action required by the Act shall be done shall be computed by excluding the first day and including the last, unless the last day is a Saturday, Sunday or legal holiday, and then it shall also be excluded. If the date s…

Section 200.221 Requirements as to Proper Form Any document filed with the Department pursuant to the Act shall be prepared in accordance with the form, if any, prescribed therefor by the Director. Any such document shall, after review by the Department, be deemed to be filed on …

Section 200.225 Place of Filing Unless otherwise specified applications and other papers may be filed with the office of the Department of Financial Institutions located in Chicago, Illinois or Springfield, Illinois. Such material may be filed by delivery to the Department, throu…

Section 200.230 Additional Information In addition to the information expressly required to be included in an application, there shall be added such further material information, if any, as may be necessary to make the required statements, in the light of the circumstances under …

Section 200.235 Additional Exhibits Any licensee or applicant may file such exhibits as it may desire in addition to those required by the appropriate form. The exhibits shall be so marked as to indicate clearly the subject matters to which they refer.

Section 200.240 Information Unknown or Not Reasonably Available Information required need be given only insofar as it is known or reasonably available to the licensee or applicant. If any required information is unknown and not reasonably available to it, either because the obtai…

Section 200.245 Requirements as to Paper, Printing and Language a) Applications shall be filed on good quality, unglazed, white paper, 8½ by 11 inches in size, insofar as practicable. However, tables, charts, maps and financial statements may be on larger paper, if folded to that…

Section 200.250 Number of Copies − Signatures a) One copy of the completed application, manually signed by the applicant, including exhibits and all other papers and documents filed as a part of the application, shall be filed with the Department. b) If any name is signed to the …

Section 200.270 Extension of Date for Filing The Director, for good cause, may, upon receipt of a written application, extend any filing deadline set forth in this Part or any Act under the jurisdiction of the Division. (Source: Amended at 47 Ill. Reg. 784, effective January 5, 2…

Section 200.275 Complete Application Any time period for the Division to respond to any application shall commence only when the application is complete. An application shall be deemed complete when the person has provided all application fees, information, and documents required…

Section 200.276 Non-Sufficient Fund Fee Any person who delivers a check or other payment to the Division that is returned to the Division unpaid by the financial institution upon which it is drawn shall pay to the Division, in addition to the amount already owed to the Division, …

Section 200.277 Release of Records a) The Secretary, in their sole discretion, may charge the following fees for any record search or copying performed by the Secretary: 1) Reproduction costs incurred in making copies of documents, including photocopies or converting physical doc…

Section 200.278 Multi-State Licensing System The Director may require participation in a third-party, multi-state licensing system for licensing and/or examinations under any Act regulated by the Division. The multi-state licensing system may share regulatory information and main…

Section 200.280 Non-Public Distribution of Information Information or documents obtained by employees of the Department in the course of any examination, audit, visit, registration, certification, review, licensing, investigation, or any other regulatory activity pursuant to any …

Section 200.290 Provisions for Granting of Variance from Rules The Director may grant variances from this Part or any other Part promulgated pursuant to any Act under the jurisdiction of the Division in individual cases where it is determined that: a) the provision from which the…

Section 200.310 Request for Non-Binding Statements a) Required information and format 1) All requests for non-binding statements shall be in writing. The request shall be filed with the Department and shall contain the following: A) a brief summary of the Sections of the Act and …

Section 200.320 Request for Declaratory Rulings (Repealed) (Source: Repealed at 47 Ill. Reg. 784, effective January 5, 2023) SUBPART D: PROCEDURES FOR ADMINISTRATIVE HEARINGS

Section 200.400 Hearings All administrative hearings shall be conducted in accordance with 38 Ill. Adm. Code 100. (Source: Amended at 46 Ill. Reg. 12554, effective July 8, 2022)

Section 200.402 Qualifications and Duties of the Administrative Law Judge (Repealed) (Source: Repealed at 46 Ill. Reg. 12554, effective July 8, 2022)

Section 200.404 Notice of Hearing (Repealed) (Source: Repealed at 46 Ill. Reg. 12554, effective July 8, 2022)

Section 200.406 Institution of a Contested Case by the Department (Repealed) (Source: Repealed at 46 Ill. Reg. 12554, effective July 8, 2022)