Sec. 5-8. Fees.

166 words·~1 min read·/il/chapter-205/act-658/5-8

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Sec. 5-8. Fees.

(a)The expenses of administering this Act, including investigations and examinations provided for in this Act, shall be borne by and assessed against entities regulated by this Act. The Department may establish fees by rule, including in the following categories:

(1)investigation of licensees and license applicant fees;

(2)examination fees;

(3)contingent fees; and

(4)such other categories as may be required to administer this Act.

(b)The Secretary shall charge and collect fees, which shall be nonrefundable unless otherwise indicated.

(c)All fees currently assessed in accordance with 38 Ill. Adm. Code 205.35, as amended or recodified from time to time, shall remain in effect. Except for money required to be deposited into the TOMA Consumer Protection Fund pursuant to this Act, all moneys received by the Department shall be deposited into the Financial Institution Fund. Failure to pay any required fee by the due date shall subject the licensee to a penalty fee of $25 per day and disciplinary action.