Ill. Admin. Code tit. 38 § 110.265

Current through Register Vol. 48, No. 25, June 21, 2024

Section 110.265 - Servicing of Accounts by Contract

Upon prior approval of the Director, the licensee may contract for servicing of accounts. A request for the Director's approval shall be in writing and include the following:

a) Name and address of proposed servicer;

b) Executed contract, conditioned upon approval by the Director, between licensee and servicer;

c) Contact person and telephone number of the servicer;

d) A statement that the licensee will make all books, records, and account information readily available for examination by the Division;

e) A statement that the licensee will pay all examination expenses in accordance with Section 10 of the Act;

f) Written consent of servicer for the Division to conduct its examination; and

g) A list of all Illinois licensees held by the proposed servicer.

Ill. Admin. Code tit. 38, § 110.265

Amended at 30 Ill. Reg. 12558, effective July 7, 2006

Amended at 47 Ill. Reg. 9271, effective 6/20/2023