The functions and powers of the Secretary shall include the following:
         (1) to issue or refuse to issue any license as
    
provided by this Act;
        (2) to revoke or suspend for cause any license issued
    
under this Act;
        (3) to keep records of all licenses issued under this
    
Act;
        (4) to receive, consider, investigate, and act upon
    
complaints made by any person in connection with any licensed consumer legal funding company in this State or unlicensed consumer legal funding activity;
        (5) to prescribe the forms of and receive:
    
            (A) applications for licenses; and
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Terms Used In Illinois Compiled Statutes 815 ILCS 121/100

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Subpoena: A command to a witness to appear and give testimony.

             (B) all reports and all books and records
        
required to be made by any licensee under this Act, including annual audited financial statements and annual reports of consumer legal funding activity;
        (6) to subpoena documents and witnesses and compel
    
their 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;
        (7) to issue orders against any person:
             (A) if the Secretary has reasonable cause to
        
believe that an unsafe, unsound, or unlawful practice has occurred, is occurring, or is about to occur;
            (B) if any person has violated, is violating, or
        
is about to violate any law, rule, or written agreement with the Secretary; or
            (C) for the purpose of administering the
        
provisions of this Act and any rule adopted in accordance with this Act;
        (8) to address any inquiries to any licensee, or the
    
officers of the licensee, in relation to the licensee’s 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; the Secretary may also require reports from any licensee at any time the Secretary chooses;
        (9) to examine the books and records of every
    
licensee under this Act;
        (10) to enforce the provisions of this Act;
         (11) to levy fees, fines, and charges for services
    
performed in administering this Act; the aggregate of all fees collected by the Secretary on and after the effective date of this Act shall be paid promptly after receipt, accompanied by a detailed statement of fees paid, into the Financial Institutions Fund; the amounts deposited into that Fund shall be used for the ordinary and contingent expenses of the Department; nothing in this Act shall prevent the continuation of the practice of paying expenses involving salaries, retirement, social security, and State-paid insurance of State officers by appropriation from the General Revenue Fund or any other fund;
        (12) to appoint examiners, supervisors, experts, and
    
special assistants as needed to effectively and efficiently administer this Act;
        (13) to conduct hearings for the purpose of:
    
            (A) appeals of orders of the Secretary;
             (B) suspensions or revocations of licenses;
             (C) fining of licensees or unlicensed persons or
        
entities;
            (D) investigating:
                 (i) complaints against licensees or
            
unlicensed persons or entities; or
                (ii) annual gross delinquency rates; and
            
            (E) carrying out the purposes of this Act;
        
        (14) to exercise visitorial power over a licensee;
    
        (15) to enter into cooperative agreements with state
    
regulatory authorities of other states to provide for examination of corporate offices or branches of those states and to accept reports of those examinations;
        (16) 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;
        (17) to impose civil penalties of up to $50 per day
    
against a licensee for failing to respond to a regulatory request or reporting requirement; and
        (18) to enter into agreements in connection with the
    
Nationwide Multistate Licensing System and Registry.
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