Illinois § 20-50 Enforcement actions

Illinois Statutes

§ 20-50 — Enforcement actions

Illinois § 20-50

JurisdictionIllinois

TopicREGULATION

Ch. 205FINANCIAL REGULATION

Act 205 ILCS 731/Digital Assets and Consumer Protection Act.

Art.Article 20 - Supervision

This text of Illinois § 20-50 (Enforcement actions) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

205 Ill. Comp. Stat. 20-50 (2026).

Text

(a)As used in this Article, "enforcement action" means an action including, but not limited to, all of the following:

(1)Suspending or revoking a registration under this Act.

(2)Ordering a person to cease and desist from doing digital asset business activity with or on behalf of a resident.

(3)Requesting the court to appoint a receiver for the assets of a person doing digital asset business activity with or on behalf of a resident.

(4)Requesting the court to issue temporary, preliminary, or permanent injunctive relief against a person doing digital asset business activity with or on behalf of a resident.

(5)Assessing a civil penalty under Section 20-70.

(6)Recovering on the security under Section 20-5 and initiating a plan to distribute the proceeds for the benefit of a resident inj

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(a) As used in this Article, "enforcement action" means an action including, but not limited to, all of the following: (1) Suspending or revoking a registration under this Act. (2) Ordering a person to cease and desist from doing digital asset business activity with or on behalf of a resident. (3) Requesting the court to appoint a receiver for the assets of a person doing digital asset business activity with or on behalf of a resident. (4) Requesting the court to issue temporary, preliminary, or permanent injunctive relief against a person doing digital asset business activity with or on behalf of a resident. (5) Assessing a civil penalty under Section 20-70. (6) Recovering on the security under Section 20-5 and initiating a plan to distribute the proceeds for the benefit of a resident injured by a violation of this Act, or law of this State other than this Act that applies to digital asset business activity with or on behalf of a resident. (7) Imposing necessary or appropriate conditions on the conduct of digital asset business activity with or on behalf of a resident. (8) Seeking restitution on behalf of a resident if the Department shows economic injury due to a violation of this Act. (b) The Department may enter into a consent order with a person regarding an enforcement action. (c) This Section does not provide a private right of action to a resident, provided this Section does not preclude an action by a resident to enforce rights under Article 5 or subsection (a) of Section 20-5.