815 ILCS 175/15-55
2021 Illinois Compiled Statutes|Chapter 815 - BUSINESS TRANSACTIONS|815 ILCS 175/ - Illinois Loan Brokers Act of 1995.|Article 15

Sec. 15-55.     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 loan broker.(d) If the Secretary of State shall find that any person is  acting or has acted as a loan broker as defined in Section 15-5.15 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 such person from  acting as a loan 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,  any individual or entity acting as a loan broker or engaging in the business of  providing loan brokerage services, without notice and prior  hearing, if the Secretary of State in his or her opinion,  based upon credible evidence, deems 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 to be held as soon as reasonably practicable, 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 constitute sufficient basis to make the temporary order  final.(f) The Secretary of State may issue a temporary order  suspending or delaying the effectiveness of any registration of a  loan 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 loan 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. 89-209, eff. 1-1-96; 90-70, eff. 7-8-97.)