{"data":{"id":"us-il/815-ilcs-124-12","jurisdiction":"us-il","citation":"815 ILCS 124/12","heading":"Functions; powers; duties.","body":"The functions, powers, and duties of the Secretary shall include, but shall not be limited to:\n(a) to issue or refuse to issue any license or renewal;\n(b) to impose fines, revoke, or suspend for cause any license issued under this Act;\n(c) to impose fines for any unlicensed activity under this Act;\n(d) to keep records of all licenses issued under this Act;\n(e) to receive, consider, investigate, and act upon complaints made by any person in connection with any licensee in this State or unlicensed activity under this Act of any person;\n(f) to prescribe the forms of and receive:\n(1) applications for licenses and renewals; and\n(2) all reports and all books and records required to be made by any licensee, including annual audited financial statements if required by the Secretary and annual reports of activity;\n(g) to adopt rules necessary and proper for the administration of this Act, to protect consumers and to promote fair competition;\n(h) to subpoena documents and witnesses and compel attendance and production, to administer oaths, and to require the production of any books, papers, or other materials relevant to any inquiry authorized by this Act or rules adopted under this Act;\n(i) to issue orders against any person if the Secretary has reasonable cause to believe that an unsafe, unsound, or unlawful practice has occurred, is occurring, or is about to occur; if any person is violating, or is about to violate any law, rule, or written agreement with the Secretary; or for the purpose of administering the provisions of this Act and any rule adopted in accordance with this Act;\n(j) to address any inquiries to any licensee, or the owners, officers, or directors, in relation to its activities and conditions, or any other matter connected with its affairs, and it shall be the duty of any licensee or person so addressed to promptly reply in writing to those inquiries; and to require reports from any licensee at any time the Secretary may deem desirable;\n(k) to examine the books and records of every licensee or any person requiring a license or who the Secretary reasonably believes may require a license at any time interval reasonably determined appropriate by the Secretary;\n(l) to enforce provisions of this Act and rules adopted under this Act;\n(m) to levy fees including, but not limited to, contingent fees, assessments, examination fees, licensing fees, fines, and charges for services performed in administering this Act;\n(n) to issue refunds to licensees within one year of any overpayment for good cause shown;\n(o) to appoint examiners, supervisors, experts, and special assistants as needed to effectively and efficiently administer this Act;\n(p) to conduct hearings for the purpose of carrying out the purposes of this Act;\n(q) to exercise visitorial power over a licensee;\n(r) to enter into cooperative agreements with state regulatory authorities of other states to provide for examination of corporate offices or branches in those states, participate in joint examinations with other regulators, and to accept reports of the examinations;\n(s) to assign an examiner or examiners to monitor the affairs of a licensee with whatever frequency the Secretary determines appropriate and to charge the licensee for reasonable and necessary expenses of the Secretary if in the opinion of the Secretary an emergency exists or appears likely to occur;\n(t) to impose civil penalties of up to $1,000 per day against a licensee for failing to respond to a regulatory request or reporting requirement; and\n(u) to enter into agreements in connection with a multistate licensing system.","path":["CHAPTER 815 BUSINESS TRANSACTIONS","Buy-Now-Pay-Later Loan Consumer Protection Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=4686\u0026ChapterID=67\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"6186f7d62209a1f2dabb3cc8a477d6bcb8830e05f1b8e5d6d77e66b7bb7693af","source_id":"us-il","stale":false,"prev":"us-il/815-ilcs-124-11","next":"us-il/815-ilcs-124-13"},"notice":"GroundRules: Original legal text. Not legal advice."}