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(815 ILCS 390/7) (from Ch. 21, par. 207)
Sec. 7.
The Comptroller may refuse to issue or may suspend or revoke
a license on any of the following grounds:
(a) The applicant or licensee has made any misrepresentations or false
statements or concealed any material fact;
(b) The applicant or licensee is insolvent;
(c) The applicant or licensee has been engaged in business practices that
work a fraud;
(d) The applicant or licensee has refused to give pertinent data to the
Comptroller;
(e) The applicant or licensee has failed to satisfy any enforceable
judgment or decree rendered by any court of competent jurisdiction against
the applicant;
(f) The applicant or licensee has conducted or is about to conduct
business in a fraudulent manner;
(g) The trust agreement is not in compliance
with State or federal law;
(h) The pre-construction performance bond, if applicable, is not
satisfactory to the Comptroller;
(i) The fidelity bond is not satisfactory to the Comptroller;
(j) As to any individual listed in the license application as required
pursuant to Section 6, that individual has conducted
or is
about to conduct any business on behalf of the applicant in a fraudulent
manner, has been convicted of any felony or misdemeanor an essential
element of which is fraud, has had a judgment rendered against him or her
based on
fraud in any civil litigation, has failed to satisfy any enforceable
judgment or decree rendered against him by any court of competent
jurisdiction, or has been convicted of any felony or any theft-related
offense;
(k) The applicant or licensee has failed to make the annual report
required by this Act or to comply with a final order, decision, or finding
of the Comptroller made pursuant to this Act;
(l) The applicant or licensee, including any member, officer, or director
thereof if the applicant or licensee is a firm, partnership, association, or
corporation and any shareholder holding more than 10% of the corporate stock,
has violated any provision of this Act
or
any regulation or order made by the Comptroller under this Act; or
(m) The Comptroller finds any fact or condition existing which, if it
had existed at the time of the original application for such license would
have warranted the Comptroller in refusing the issuance of the license.
(Source: P.A. 92-419, eff. 1-1-02.)
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