(a) Any registration issued under this Act may be revoked or an application for registration may be denied if the Director finds that the lessor or applicant:
        (1) has willfully violated any provision of this Act
    
or any rule promulgated by the Director;
        (2) has intentionally made a material misstatement in
    
the application for a registration;
        (3) has obtained or attempted to obtain a
    
registration through misrepresentation or fraud;
        (4) has misappropriated or converted to his own, or
    
improperly withheld, money required to be held in a fiduciary capacity;
        (5) has used fraudulent, coercive, or dishonest
    
practices, or has demonstrated incompetence, untrustworthiness, or financial irresponsibility;
        (6) has been, within the past 3 years, convicted of a
    
felony, unless the person demonstrates to the Director sufficient rehabilitation to warrant the public trust;
        (7) has failed to appear without reasonable cause or
    
excuse in response to a subpoena lawfully issued by the Director;
        (8) has had its registration or license suspended or
    
revoked or its application denied in any other state, district, territory, or province;
    (b) When the Director of Insurance has cause to believe that grounds for the refusal, denial, or revocation of a registration under this Section exists, the Director shall issue an order to the lessor stating the grounds upon which the refusal, denial, or revocation is based. The order shall be sent to the lessor by certified or registered mail. The lessor may request a hearing in writing within 30 days of the mailing of the order. If no written request is received by the Director, the order shall be final upon the expiration of the 30 days.
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Terms Used In Illinois Compiled Statutes 215 ILCS 113/50

  • Fiduciary: A trustee, executor, or administrator.
  • Fraud: Intentional deception resulting in injury to another.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Subpoena: A command to a witness to appear and give testimony.

     (c) If the lessor requests a hearing pursuant to this Section, the Director shall issue a written notice of hearing sent to the lessor by certified or registered mail stating the following:
        (1) a specified time for the hearing, which may not
    
be less than 20 days nor more than 30 days after the mailing of the notice of hearing; and
        (2) a specific place for the hearing, which may be
    
either in the city of Springfield or Chicago or in the county where the lessor’s principal place of business is located.
    (d) After the hearing, or upon the failure of the lessor to appear at the hearing, the Director of Insurance shall take such action as is deemed advisable on written findings that shall be served on the lessor. The action of the Director of Insurance shall be subject to review under and in accordance with the Administrative Review Law.
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