815 ILCS 307/10-55
2021 Illinois Compiled Statutes|Chapter 815 - BUSINESS TRANSACTIONS|815 ILCS 307/ - Illinois Business Brokers Act of 1995.|Article 10

Sec. 10-55.         Violations; administrative fines;  enforcement.(a) If the Secretary of State determines, after  notice and opportunity for a hearing, that a person has  violated this Act, the Secretary of State may in addition  to all other remedies, impose an administrative fine upon  the person in an amount not to exceed $10,000 for each  violation.(b) The Secretary of State may bring an action in the  circuit court of Sangamon or Cook County to enforce  payment of fines imposed under this Section.(c) If the Secretary of State shall find that any  person has violated any provision of this Act, the  Secretary of State may, by written order temporarily or  permanently prohibit or suspend such person from acting as  a business broker.(d) If the Secretary of State shall find, after notice and opportunity for  hearing, that any  person is acting or has acted as a business broker as  defined in Section 10-5.10 of this Act, without prior thereto  or at the time thereof having complied with the  registration requirements of this Act, the Secretary of  State may by written order prohibit or suspend such person  from acting as a business broker in this State.(e) Anything herein contained to the contrary  notwithstanding, the Secretary of State may temporarily  prohibit or suspend, for a maximum period of 90 days, by an  order effective immediately, the registration of a business  broker or the business of providing business brokerage  services, without notice and prior hearing, if the  Secretary of State shall in his or her opinion, based upon  credible evidence, deem it necessary to prevent an imminent  violation of this Act or to prevent losses to clients which  the Secretary of State reasonably believes will occur as a  result of a prior violation of this Act. Immediately after  taking action without such notice and hearing, the  Secretary of State shall deliver a copy of the temporary  order to the respondent named therein by personal service  or registered mail or certified mail, return receipt  requested.  The temporary order shall set forth the grounds  for the action and shall advise that the respondent may  request a hearing that  the request for a hearing will not stop the effectiveness  of the temporary order and that respondent's failure to  request a hearing within 30 days after the date of the  entry of the temporary order, shall constitute an admission  of any facts alleged therein and shall make the temporary  order final.  A business broker whose registration has been suspended pursuant to this  Section may request the Secretary of State permission to continue to receive  payment for any executory contracts at the time of any suspension and to  continue to perform its obligation thereunder.  The decision to grant or deny  permission to receive payment for any executory contracts or perform any  obligation thereunder shall be at the sole discretion of the Secretary of State  and shall not be subject to review under the Administrative Review  Law.(f) The Secretary of State may issue a temporary  order suspending or delaying the effectiveness of any  registration of a business broker under this Act subsequent  to and upon the basis of the issuance of any stop,  suspension or similar order by any agency of the United  States regulating business brokers or any state or federal  courts with respect to the person who is the subject of the  registration under this Act, and such order shall become  effective as of the date and time of effectiveness of the  agency or court order and shall be vacated automatically at  such time as the order of the agency or court order is no  longer in effect.    (Source: P.A. 92-308, eff. 1-1-02.)