Illinois Statutes
§ 6-3 — Appointment of receiver or conservator
Illinois·Topic REGULATION·Ch. 205 FINANCIAL REGULATION·Act 205 ILCS 635/ Residential Mortgage License Act of 1987.·Art. Article VI - Enforcement Powers
When the Commissioner makes a finding that a receivership or conservatorship is necessary to protect consumers of a licensee from the consequences of the licensee's failures to comply with this Act or other unsafe and unsound practices, the Commissioner shall request the Attorney General of this State to petition the Circuit Court of Cook County, or of the county in which the licensee is located, to appoint a receiver or conservator for purposes of protecting consumers and resolving the affairs of the licensee.
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Legislative History
(Source: P.A. 87-1098.)
Nearby Sections
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§ 6
Fiscal Year§ 6-1
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§ 6-12§ 6-13
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§ 6-14§ 6-15
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