This Part is promulgated by the Director of the Department of Insurance under Section 401 of the Illinois Insurance Code [215 ILCS 5/401] that empowers the Director to make reasonable rules and regulations as may be necessary for making effective the insurance laws of this State. Further, this Part implements Section 4-30(b) of the Payday Loan Reform Act [815 ILCS 122/4‑30(b)] that requires the Director to promulgate rules to implement that Act.