(Section scheduled to be repealed on January 1, 2027) Sec. 511.107. License suspension, revocation or denial.
(a)Any license issued under this Article may be suspended or revoked, after notice to the licensee and an opportunity for hearing, and any application for a license may be denied, after notice and an opportunity for hearing, if the Director finds that the licensee or applicant:
(1)has wilfully violated any applicable provisions of the Illinois Insurance Code or applicable Part of Title 50 of the Illinois Administrative Code; or (2) has intentionally made a material misstatement in its application for a license; or (3) has obtained or attempted to obtain a license through misrepresentation or fraud; or (4) has misappropriated or converted to its own use, or improperly withheld, mo
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(Section scheduled to be repealed on January 1, 2027) Sec. 511.107. License suspension, revocation or denial. (a) Any license issued under this Article may be suspended or revoked, after notice to the licensee and an opportunity for hearing, and any application for a license may be denied, after notice and an opportunity for hearing, if the Director finds that the licensee or applicant: (1) has wilfully violated any applicable provisions of the Illinois Insurance Code or applicable Part of Title 50 of the Illinois Administrative Code; or (2) has intentionally made a material misstatement in its application for a license; or (3) has obtained or attempted to obtain a license through misrepresentation or fraud; or (4) has misappropriated or converted to its own use, or improperly withheld, money required to be held in a fiduciary capacity; or (5) has, in the transaction of business under its license, used fraudulent, coercive or dishonest practices, or has demonstrated incompetence, untrustworthiness or financial irresponsibility; or is not of good personal and business reputation; or (6) has been, within the past 3 years, convicted of a felony, unless the individual demonstrates to the Director sufficient rehabilitation to warrant the public trust; or (7) has failed to appear without reasonable cause or excuse in response to a subpoena, examination warrant or any other order lawfully issued by the Director; or (8) is using such methods or practices in the conduct of its business so as to render its further transaction of business in this State hazardous or injurious to covered individuals or the public; or (9) is affiliated with and is under the same general management as another administrator which transacts business in this State without being licensed under this Article; or (10) has had its license suspended or revoked or its application denied in any other state, district, territory or province on grounds similar to those stated in this Section; or (11) has failed to report under Section 511.108 a felony conviction. (b) Denial of an application or suspension or revocation of a license, pursuant to this Section shall be by written order sent to the applicant or licensee by certified or registered mail at the address specified in the records of the Department. The written order shall state the grounds, charges or conduct on which denial, suspension or revocation is based. The applicant or licensee may in writing request a hearing within 30 days from the date of mailing. Upon receipt of a written request, the Director shall issue an order setting (i) a specific time for the hearing, which may not be less than 20 nor more than 30 days after receipt of the request and (ii) a specific place for the hearing, which may be in either the City of Springfield or in the county in Illinois where the applicant's or licensee's principal place of business is located. If no written request is received by the Director, such order shall be final upon the expiration of said 30 days. (c) Upon revocation of a license, the licensee or other person having possession or custody of such license shall deliver it to the Director in person or by mail within 30 days of such revocation. (d) Any administrator whose license is revoked or whose application is denied pursuant to this Section shall be ineligible to reapply for any license for 2 years. A suspension pursuant to this Section may be for a period of up to 2 years.