Illinois § 11-8 Unlicensed persons

Illinois Statutes

§ 11-8 — Unlicensed persons

Illinois § 11-8

JurisdictionIllinois

TopicREGULATION

Ch. 205FINANCIAL REGULATION

Act 205 ILCS 658/Uniform Money Transmission Modernization Act.

Art.Article XI - Enforcement

This text of Illinois § 11-8 (Unlicensed persons) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

205 Ill. Comp. Stat. 11-8 (2026).

Text

Any person who, without the required license, engages in conduct requiring a license under this Act shall be liable to the Department in an amount equal to the greater of (1) $5,000 or (2) an amount of money accepted for transmission plus an amount equal to 3 times the amount accepted for transmission. The Department shall cause any funds so recovered to be deposited into the TOMA Consumer Protection Fund.

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Any person who, without the required license, engages in conduct requiring a license under this Act shall be liable to the Department in an amount equal to the greater of (1) $5,000 or (2) an amount of money accepted for transmission plus an amount equal to 3 times the amount accepted for transmission. The Department shall cause any funds so recovered to be deposited into the TOMA Consumer Protection Fund.