TITLE 68: PROFESSIONS AND OCCUPATIONS
CHAPTER VIII: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
SUBCHAPTER b: PROFESSIONS AND OCCUPATIONS
PART 1450 REAL ESTATE LICENSE ACT OF 2000
SECTION 1450.905 TEMPORARY SUSPENSION


 

Section 1450.905  Temporary Suspension

 

The Secretary may temporarily suspend a license without a hearing, simultaneously with the institution of proceedings for a hearing provided for in Section 20-60 of the Act, if the Secretary finds evidence indicating that the public interest, safety or welfare imperatively requires emergency action.  Emergency action is imperative when a licensee's conduct poses a threat that the public's or another licensee's money or other property will be stolen or embezzled or that continued licensure of a licensee will be a threat to the safety of the public or another licensee. 

 

a)         The Department may consider any one or more of the following acts committed by a licensee as cause for temporary suspension, including, but not limited to:

 

1)         Failure to account for or to remit any moneys or documents that belong to others as set forth in Section 20-20(a)(16) of the Act;

 

2)         Failure to maintain and deposit in a special or escrow account, separate and apart from personal and other business accounts, all escrow moneys belonging to others entrusted to a designated managing broker or sponsoring broker while acting as a licensee, escrow agent or temporary custodian of the funds of others, as set forth in Section 20-20(a)(17) of the Act;

 

3)         Failure to make escrow records and related documents for the immediately preceding 2 years available, within 24 hours after request, to the Division during normal business hours pursuant to Section 20-20(a)(18) of the Act and Section 1450.755.  This action alone may not be sufficient grounds for a temporary suspension;

 

4)         Failure to make escrow records and related documents more than 2 years old available, within 30 days after request, to the Division during normal business hours, in physical or electronic form, as set forth in Section 20-20(a)(27) of the Act and Section 1450.755; or

 

5)         Commingling money or property of others with the licensee's own money or property, as set forth in Section 20-20(a)(22) of the Act.

 

b)         A petition for temporary suspension shall:

 

1)         State the statutory basis for the action petitioned;

 

2)         Allege facts, supported by sufficient evidence; and

 

3)         Be presented to the Secretary.

 

c)         An order for temporary suspension shall:

 

1)         Contain sufficient notice regarding the basis for the action;

 

2)         Recite the statutory basis for the action;

 

3)         Demand immediate surrender of the license; and

 

4)         Be signed by the Secretary.

 

d)         A notice of temporary suspension shall accompany the order and shall:

 

1)         Set a hearing date within 30 days after the date on which the order takes effect;

 

2)         Identify the location where the hearing will take place; and

 

3)         Provide information as to where the licensee may obtain the Department's Rules of Practice in Administrative Hearings (68 Ill. Adm. Code 1110).

 

(Source:  Amended at 45 Ill. Reg. 2851, effective February 23, 2021)