§ 5-35 — Termination of license

(a) Revocation of a license by the Department constitutes a termination of the license on the earlier of: (1) the day of the revocation order; (2) the day that a licensee voluntarily files for bankruptcy under the federal bankruptcy laws; or (3) the day that an order for relief is entered in reference to a licensee as a consequence of a petition for involuntary bankruptcy filed under the federal bankruptcy laws. (b) Voluntary surrender of a license by a licensee constitutes a termination of the license on the day the surrender occurs. (c) Failure to apply for a license renewal constitutes a termination of the license on the day the license expires. (d) Denial of a license renewal by the Department constitutes a termination of the license on the day of the order denying the license renewal.

Legislative History

(Source: P.A. 89-287, eff. 1-1-96.)