(215 ILCS 5/544) (from Ch. 73, par. 1065.94)
Sec. 544.
Powers of the Director.
The Director shall either (a) suspend or revoke, after notice
and hearing pursuant to Sections 401, 402 and 403 of this Code, the
certificate of authority to do business in this State of any member company
which fails to pay an assessment when due or fails to comply with the plan
of operation, or (b) levy a fine on any member
company which fails to pay an assessment when due. Such fine shall not
exceed 5% per month of the unpaid assessment, except that no fine shall be
less than $200 per month.
(Source: P.A. 93-32, eff. 7-1-03.)
|