Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 160 - SALES FINANCE AGENCY ACT
Subpart A - GENERAL PROVISIONS
Section 160.210 - Examinations

1) The Department may examine all records and investigate any transactions in any office of the licensee operating under the Act, or at any other location where records or instruments of the licensee are situated to determine that the business complies with all applicable laws and regulations. The Department will charge the licensee $1,200 for each examiner day or portion thereof required to make and complete an examination or investigation of the licensee.

2) The examination of the books and records of the licensee may be conducted concurrently with the examination of any other business conducted by the licensee which is regulated or licensed by the Department. A separate charge shall be made for each examiner day or portion thereof required to complete each examination as to each regulated or licensed business.

3) Should any part of the records or documents be located outside of the geographic boundaries of the State of Illinois, the licensee shall pay all the expenses the Department incurs to perform the examination.

4) The Department may conduct an examination for the purpose of verifying that the licensee has taken necessary actions to correct violations to the Act and/or related administrative rules and shall charge the licensee $1,500 for each examiner day or portion thereof.