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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
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(205 ILCS 670/4) (from Ch. 17, par. 5404)
Sec. 4.
Investigation to determine whether license shall be issued.
Upon the filing of an application and the payment of the fee,
the Director shall investigate to determine
(1) that the reputation of the applicant, including managers of a limited
liability
company, partners, owners, officers
or directors thereof is such as to
warrant belief that the business will be operated honestly and fairly
within the purposes of this Act and (2) that the applicant meets the positive
net worth requirement set forth in Section 2 of this Act. Unless the Director
makes
findings
hereinabove enumerated, he or she shall not issue a license and
shall notify the
applicant of the denial and return to the applicant the sum paid by the
applicant as a license fee, but shall retain the $300 application fee.
The Director shall approve or deny every application for license
hereunder within 60 days from the filing thereof with the fee.
(Source: P.A. 90-437, eff. 1-1-98; 90-575, eff. 3-20-98.)
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