Definitions

Section 1019 Section 1019.5  Definitions a)         For purposes of this Part, the following definitions shall apply: "Applicant" – person requesting that a title and/or registration be issued in his/her name. "Dealer" – every person engaged in the business of acquiring or disposing of vehicles or their essential parts and who has an established place of business for such purpose . [625 ILCS 5/1-115] "Department" – Department of Vehicle Services within the Office of the Secretary of State. "Financially Sound" – solvent and able to pay expenses and debts as due, as evidenced by the surety bond obtained pursuant to Section 3-905 of the Illinois Vehicle Title & Registration Law of the Illinois Vehicle Code (Ill. Rev. Stat. 1987, ch. 95½, par. 3-905). "Fraudulent Activity" – any activity in which a person knowingly falsifies information. "Good Business Integrity" – soundness or good moral principle and character in business dealings as evidenced by the surety bond obtained pursuant to Section 3-905 of the Illinois Vehicle Title & Registration Law of the Illinois Vehicle Code (Ill. Rev. Stat. 1987, ch. 95½, par. 3-905), or good moral principle and character in business dealings. "Immediate Family" – spouse, offspring, sibling, or parent. "Licensee" – a licensed remittance agent. "Revocation" – the termination by formal action of a person's license to operate as a remittance agent. "Secretary" – Secretary of the State of Illinois. "Suspension" – the temporary withdrawal by formal action by the Secretary of a person's license to operate as a remittance agent for thirty (30) days pending compliance and re-audit. "Transaction" – an application for title and/or registration of a vehicle, any supporting documents and fees for remittance to the Department.