Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 125 - THE FORMULATION AND ISSUANCE OF SCHEDULES OF MAXIMUM RATES FOR CHECK CASHING AND THE WRITING OF MONEY ORDERS OF COMMUNITY AND AMBULATORY CURRENCY EXCHANGES
Section 125.40 - Procedure for Submission, Consideration and Disposition of Petitions Seeking the Promulgation, Amendment or Repeal of Part 125
Current through Register Vol. 48, No. 12, March 22, 2024
a) Right to Petition
Any interested person may petition the Director requesting the promulgation of a Rule or Rules of Practice and Procedure for rate-making, or for an amendment, modification, revision or repeal of any of this Part regarding rate-making.
b) Form of Petition
The petition must be in writing and signed by the party requesting the promulgation, amendment, modification, revision or repeal of any of this Part.
The petition must set forth the following:
Such petition may be filed in person or by mail with the Director of the Department of Financial Institutions, either at The State of Illinois Building, 100 W. Randolph St. 15-700, Chicago, Illinois 60601, or at 421 East Capitol Avenue, Springfield, Illinois 62706.
c) Disposition of Petition
Within thirty (30) days of the receipt of the petition, the Director will notify the petitioner whether the Director will grant the petition and initiate rule-making proceedings in accord with Section 5-35 of the Illinois Administrative Procedure Act (Ill. Rev. Stat. 1991, ch. 127, par. 1005-35). If, within thirty (30) days after receipt of the petition, the Director has not initiated such rule-making proceedings, the petition shall be deemed to have been denied. The Director will grant the petition if he determines that one or more of the following criteria are established: