Illinois General Assembly - Illinois Compiled Statutes

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815 ILCS 390/13

(815 ILCS 390/13) (from Ch. 21, par. 213)

Sec. 13.

A licensee may surrender any license by delivering to the
Comptroller written notice that he thereby surrenders such license but such
surrender shall not affect such licensee's civil or criminal liability for
acts committed prior to such surrender, or affect his bond. The Comptroller
shall not permit a license to be surrendered by licensee unless and until
the trust funds of such licensee have been transferred to a successor
licensee who shall be licensed by the Comptroller in conformity with the
provisions of this Act. Any purported transfer of trust funds without
compliance with this Section is void and the Comptroller shall have the
right to petition for the appointment of a receiver to administer the
business of the licensee.

(Source: P.A. 84-239.)