Illinois § 80 Averments of applicant

Illinois Statutes

§ 80 — Averments of applicant

Illinois § 80

TopicBUSINESS AND EMPLOYMENT

Ch. 815BUSINESS TRANSACTIONS

Act 815 ILCS 121/Consumer Legal Funding Act.

This text of Illinois § 80 (Averments of applicant) 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

815 Ill. Comp. Stat. 80 (2026).

Text

Each application for license shall be accompanied by the following averments stating that the applicant:

(1)will file with the Secretary or Nationwide Multistate Licensing System and Registry, as applicable, any report or reports that it is required to file under any of the provisions of this Act when due;

(2)has not committed a crime against the law of this State, any other state, or of the United States involving moral turpitude or fraudulent or dishonest dealing, and that no final judgment has been entered against it in a civil action upon grounds of fraud, misrepresentation, or deceit that has not been previously reported to the Secretary;

(3)has not engaged in any conduct that would be cause for denial of a license;

(4)has not become insolvent;

(5)has not submitted an application

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Each application for license shall be accompanied by the following averments stating that the applicant: (1) will file with the Secretary or Nationwide Multistate Licensing System and Registry, as applicable, any report or reports that it is required to file under any of the provisions of this Act when due; (2) has not committed a crime against the law of this State, any other state, or of the United States involving moral turpitude or fraudulent or dishonest dealing, and that no final judgment has been entered against it in a civil action upon grounds of fraud, misrepresentation, or deceit that has not been previously reported to the Secretary; (3) has not engaged in any conduct that would be cause for denial of a license; (4) has not become insolvent; (5) has not submitted an application for a license under this Act that contains a material misstatement; (6) has not demonstrated by course of conduct, negligence or incompetence in performing any act for which it is required to hold a license under this Act; (7) will advise the Secretary in writing or the Nationwide Multistate Licensing System and Registry, as applicable, of any changes to the information submitted on the most recent application for license or averments of record within 30 days after the change; the written notice must be signed in the same form as the application for the license being amended; (8) will comply with the provisions of this Act and with any lawful order, rule, or regulation made or issued under the provisions of this Act; (9) will submit to periodic examination by the Secretary as required by this Act; and (10) will advise the Secretary in writing of judgments entered against and bankruptcy petitions by the license applicant within 5 days after the occurrence. A licensee who fails to fulfill the obligations of an averment, fails to comply with averments made, or otherwise violates any of the averments made under this Section shall be subject to the penalties of this Act.