Safety Deposit License Act

Sections covered

• 240 ILCS 5/0.01Short title
• 240 ILCS 5/1For the purposes of this Act: "Person" means any individual, firm, corporation, association, trust or other association of individuals
• 240 ILCS 5/10If applicant has heretofore been licensed: a
• 240 ILCS 5/11Warehouses › 240 ILCS 5 — Safety Deposit License Act
• 240 ILCS 5/12The nature and tenure of each period of employment or business of affiant for at least ten years immediately preceding the date of his statement shall be stated in the supplementary statement
• 240 ILCS 5/13If the applicant named in the supplementary statement is a corporation, or an incorporated association, the amount of capital stock or invested interest owned of record by the affiant shall be stated
• 240 ILCS 5/14If partnership or unincorporated association, the limitation of liability of the affiant as a partner or member thereof shall be stated in the supplementary statement
• 240 ILCS 5/15Warehouses › 240 ILCS 5 — Safety Deposit License Act
• 240 ILCS 5/16Warehouses › 240 ILCS 5 — Safety Deposit License Act
• 240 ILCS 5/17The supplementary statement must contain the names and addresses of 3 reputable persons to whom the Director may address inquiries relative to the experience, character, integrity and standing of affiant
• 240 ILCS 5/18Warehouses › 240 ILCS 5 — Safety Deposit License Act
• 240 ILCS 5/19No applicant shall be issued a license who: 1
• 240 ILCS 5/2No person, except as hereinafter provided, shall engage in the business of renting or permitting the use of for compensation, safety deposit boxes, safes, vaults or other facilities for the safekeeping of personal property unless he has been issued a license to do so
• 240 ILCS 5/20The application shall be accompanied by a Certificate of Inspection made by a vault service company which has been approved by the Director and a set of fingerprints of the person who signs the application
• 240 ILCS 5/21Each applicant shall submit with his application, a specimen form of all types of contract, agreement, or other writings to be used between applicant and renters or users of safety deposit boxes, safes, vaults or other facilities furnished by applicant for the safekeeping of personal property
• 240 ILCS 5/22The Director shall issue a license to an applicant who has complied with this Act and who has submitted with his application, a fee of $50
• 240 ILCS 5/22.1All moneys received by the Department of Financial Institutions under this Act shall be deposited in the Financial Institution Fund created under Section 6z-26 of the State Finance Act
• 240 ILCS 5/23The Director, by his agents, shall inspect at least once in each license period, the license, safety deposit boxes, safes, vault or other facilities furnished by the licensee
• 240 ILCS 5/24Warehouses › 240 ILCS 5 — Safety Deposit License Act
• 240 ILCS 5/25.01All final administrative decisions of the Director hereunder shall be subject to judicial review pursuant to the provisions of the Administrative Review Law, and all amendments and modifications thereof, and the rules adopted pursuant thereto
• 240 ILCS 5/27Whoever violates any provision of this Act shall be guilty of a petty offense
• 240 ILCS 5/3This Act does not apply to: 1
• 240 ILCS 5/4Application for a license shall be made to the Director upon a form furnished by him
• 240 ILCS 5/5If the applicant is a corporation the application shall state: a
• 240 ILCS 5/6Warehouses › 240 ILCS 5 — Safety Deposit License Act
• 240 ILCS 5/7Warehouses › 240 ILCS 5 — Safety Deposit License Act
• 240 ILCS 5/8If applicant is a common law or business trust, the names and addresses of each trustee and of all beneficiaries in the trust and names of persons to be engaged in the management or active participation in the conduct of the business shall be stated
• 240 ILCS 5/9If applicant is under direct or indirect common control with, or is controlled by any other person, partnership, corporation or other entity the application shall state: a