TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER I: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 145 DEBT SETTLEMENT CONSUMER PROTECTION ACT
SECTION 145.80 REVOCATION – SUSPENSION – SURRENDER OF LICENSE


 

Section 145.80 Revocation Suspension Surrender of License

 

a) If it is determined that the Secretary had the authority to issue the suspension or revocation of a license pursuant to Section 50 of the Act, the Secretary may issue orders as may be reasonably necessary to correct, eliminate or remedy the situation.

 

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

 

c) An applicant or licensee affected by a licensure action of the Secretary may request a hearing within 10 days after the date of service of the action or order. If an alternative time frame is set forth in the Act or applicable law, the applicant or licensee may request a hearing pursuant to that time frame. All administrative hearings shall be conducted in accordance with 38 Ill. Adm. Code 100. Final administrative decisions of the Secretary are subject to review under the Administrative Review Law [735 ILCS 5/Art. III].

 

(Source: Amended at 46 Ill. Reg. 12522, effective July 8, 2022)