215 ILCS 5/513a7
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXXIIA - Premium Finance Regulation

 (from Ch. 73, par. 1065.60a7)Sec. 513a7.     License suspension; revocation or denial.(a) Any license issued under this Article may be suspended, revoked, or  denied if the Director finds that the licensee or applicant:(1) has wilfully violated any provisions of this Code     or the rules and regulations thereunder;(2) has intentionally made a material misstatement in     the application for a license;(3) has obtained or attempted to obtain a license     through misrepresentation or fraud;(4) has misappropriated or converted to his own use     or improperly withheld monies;(5) has used fraudulent, coercive, or dishonest     practices or has demonstrated incompetence, untrustworthiness, or financial irresponsibility;(6) has been, within the past 3 years, convicted of a     felony, unless the individual demonstrates to the Director sufficient rehabilitation to warrant public trust;(7) has failed to appear without reasonable cause or     excuse in response to a subpoena issued by the Director;(8) has had a license suspended, revoked, or denied     in any other state on grounds similar to those stated in this Section; or(9) has failed to report a felony conviction as     required by Section 513a6.(b) Suspension, revocation, or denial of a license under this Section  shall be by written order sent to the licensee or applicant by certified or  registered mail at the address specified in the records of the Department.  The licensee or applicant may in writing request a hearing within 30 days  from the date of mailing.  If no written request is made the order shall be  final upon the expiration of that 30 day period.(c) If the licensee or applicant requests a hearing under this Section,  the Director shall issue a written notice of hearing sent to the licensee  or applicant by certified or registered mail at his address, as specified  in the records of the Department, and stating:(1) the grounds, charges, or conduct that justifies     suspension, revocation, or denial under this Section;(2) the specific time for the hearing, which may not     be fewer than 20 nor more than 30 days after the mailing of the notice of hearing; and(3) a specific place for the hearing, which may be     either in the City of Springfield or in the county where the licensee's principal place of business is located.(d) Upon the suspension or revocation of a license, the licensee or  other person having possession or custody of the license shall promptly  deliver it to the Director in person or by mail.  The Director shall  publish all suspensions and revocations after they become final in a manner  designed to notify interested insurance companies and other persons.(e) Any person whose license is revoked or denied under this Section  shall be ineligible to apply for any license for 2 years. A suspension  under this Section may be for a period of up to 2 years.(f) In addition to or instead of a denial, suspension, or revocation of  a license under this Section, the licensee may be subjected to a civil  penalty of up to $2,000 for each cause for denial, suspension,  or  revocation. The penalty is enforceable under subsection (5) of Section  403A of this Code.    (Source: P.A. 93-32, eff. 7-1-03.)