Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 120 - CURRENCY EXCHANGE ACT
Section 120.260 - Corporate Officers and Directors
Current through Register Vol. 47, No. 52, December 29, 2023
a) Controlling Persons of Licensees
b) When any corporate licensee elects or otherwise designates any person as an officer or director who is not then a controlling person of the corporate licensee, written notice of the fact of the election or designation of the new officer or director, certified by the secretary of the licensee, shall be promptly given to the Secretary. The new officer or director shall not assume the office to which that new officer or director has been elected or designated until that new officer or director has first complied with the provisions of Sections 4 and 10 of the Act, relating to the qualifications of controlling persons of community currency exchanges and ambulatory currency exchanges.
Amended at 36 Ill. Reg. 13851, effective September 7, 2012
Amended at 40 Ill. Reg. 9167, effective 8/1/2016
Amended at 46 Ill. Reg. 18503, effective 11/1/2022