Fees

TITLE 38: FINANCIAL INSTITUTIONS CHAPTER I: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION PART 150 COLLECTION AGENCY ACT SECTION 150.135 FEES Section 150.135  Fees a)         The following fees are not refundable and shall be paid to the Department by a collection agency or collection agency applicant: 1)         Application Fees A)        The fee for application for an original or new license as a collection agency shall be: i)          $1,200 in calendar year 2025; ii)         $1,350 in calendar year 2026; and iii)        $1,500 in calendar year 2027 and thereafter. B)        The fee for application for an original or new license to operate a branch office shall be: i)          $250 in calendar year 2025; ii)         $350 in calendar year 2026; and iii)        $500 in calendar year 2027 and thereafter. 2)         Annual Renewal Fees A)        The fee for the annual renewal of a license as a collection agency shall be: i)          $500 in calendar year 2025; ii)         $750 in calendar year 2026; and iii)        $1,000 in calendar year 2027 and thereafter. B)        The fee for the annual renewal of a license for a branch office shall be: i)          $100 in calendar year 2025; ii)         $150 in calendar year 2026; and iii)        $250 in calendar year 2027 and thereafter. 3)         General Fees A)        The fee for the restoration of a license is $500 plus payment of all unpaid renewal fees that were payable in the period between expiration of the license and restoration of the license. B)        The fee for a certification of a licensee's record is $50. C)        The fee for a roster of licensees shall be the actual cost of producing the roster. b)         All fees collected under the Act and this Part shall be deposited into the Financial Institution Fund.  All monies in the fund shall be used by the Department, as appropriated, for the ordinary and contingent expenses of the Department.  (See Section 8a of the Act.) c) Any person who delivers a check or other payment to the Department that is returned to the Department unpaid by the financial institution upon which it is drawn shall pay to the Department, in addition to the amount already owed to Department, a fee of $50. [205 ILCS 740/35]. d)         The fees imposed by this Section are in addition to any other discipline provided under the Act.  The Department shall notify the person that fees shall be paid to the Department by certified check, money order, electronic payment which may include a processing fee, or any other method acceptable to the Department within 30 calendar days after that notification. e) If, after expiration of 30 days after the date of notification, the person has failed to submit the necessary remittance, the Department shall automatically terminate the license or deny the application, without hearing. [205 ILCS 740/35]. f)         Terminated or expired licenses may be restored or issued after the applicant pays all fees due to the Department. g)         The Director, in their sole discretion, may partially or fully waive the fees due under this Section in individual cases when the Director finds the fees would be unnecessarily burdensome and would not impair Department operations. (See 205 ILCS 740/35)