TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER I: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 140 DEBT MANAGEMENT SERVICE ACT
SECTION 140.110 REVOCATION – SUSPENSION – SURRENDER OF LICENSE


 

Section 140.110 Revocation Suspension Surrender of License

 

a) If it is determined that the Director had the authority to issue the suspension or revocation of a license pursuant to Section 10 of the Act, he or she may issue orders as may be reasonably necessary to correct, eliminate or remedy the situation.

 

b) A licensee may surrender any license by delivering to the Director written notice that it thereby surrenders the license, but the surrender shall not affect the licensee's civil or criminal liability for acts committed prior to surrender, or affect the liability on its bond or bonds, or entitle the licensee to a return of any part of the annual license fee.

 

(Source: Amended at 26 Ill. Reg. 14243, effective October 1, 2002)