Illinois Statutes
§ 3f — Revocation of license
Illinois·Topic REGULATION·Ch. 225 PROFESSIONS, OCCUPATIONS, AND BUSINESS OPERATIONS·Act 225 ILCS 45/ Illinois Funeral or Burial Funds Act.
(a)The Comptroller, upon determination that grounds exist for the revocation or suspension of a license issued under this Act, may revoke or suspend, if appropriate, the license issued to a licensee or to a particular branch office location with respect to which the grounds for revocation or suspension may occur or exist.
(b)Whenever a license is revoked by the Comptroller, he or she shall apply to the Circuit Court of the county wherein the licensee is located for a receiver to administer the trust funds of the licensee or to maintain the life insurance policies and tax-deferred annuities held by the licensee under a pre-need contract.
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Legislative History
(Source: P.A. 92-419, eff. 1-1-02.)