{"data":{"id":"us-il/205-ilcs-658-7-4","jurisdiction":"us-il","citation":"205 ILCS 658/7-4","heading":"Reports of certain events.","body":"(a) A licensee shall file a report with the Secretary within one business day after the licensee has reason to know of the occurrence of any of the following events:\n(1) the filing of a petition by or against the licensee under the United States Bankruptcy Code, 11 U.S.C. Sections 101 through 110, as amended or recodified from time to time, for bankruptcy or reorganization;\n(2) the filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors; or\n(3) the commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed.\n(b) A licensee shall file a report with the Secretary within 3 business days after the licensee has reason to know of the occurrence of any of the following events:\n(1) a charge or conviction of the licensee or of a key individual or person in control of the licensee for a felony; or\n(2) a charge or conviction of an authorized delegate for a felony.","path":["CHAPTER 205 FINANCIAL REGULATION","Uniform Money Transmission Modernization Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=4549\u0026ChapterID=20\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:29Z","sha256":"84999c8c9ce67385d27c81577dee4f6f97d2330458ac4fef9c65b235cd7f017d","source_id":"us-il","stale":false,"prev":"us-il/205-ilcs-658-7-3","next":"us-il/205-ilcs-658-7-5"},"notice":"GroundRules: Original legal text. Not legal advice."}