Current through Register Vol. 48, No. 38, September 20, 2024
The Secretary may temporarily suspend a license without a
hearing, simultaneously with the institution of proceedings for a hearing
provided for in Section 20-60 of the Act, if the Secretary finds evidence
indicating that the public interest, safety or welfare imperatively requires
emergency action. Emergency action is imperative when a licensee's conduct
poses a threat that the public's or another licensee's money or other property
will be stolen or embezzled or that continued licensure of a licensee will be a
threat to the safety of the public or another licensee.
a) The Department may consider any one or
more of the following acts committed by a licensee as cause for temporary
suspension, including, but not limited to:
1)
Failure to account for or to remit any moneys or documents that belong to
others as set forth in Section 20-20(a)(16) of the Act;
2) Failure to maintain and deposit in a
special or escrow account, separate and apart from personal and other business
accounts, all escrow moneys belonging to others entrusted to a designated
managing broker or sponsoring broker while acting as a licensee, escrow agent
or temporary custodian of the funds of others, as set forth in Section
20-20(a)(17) of the Act;
3) Failure
to make escrow records and related documents for the immediately preceding 2
years available, within 24 hours after request, to the Division during normal
business hours pursuant to Section 20-20(a)(18) of the Act and Section
1450.755. This
action alone may not be sufficient grounds for a temporary
suspension;
4) Failure to make
escrow records and related documents more than 2 years old available, within 30
days after request, to the Division during normal business hours, in physical
or electronic form, as set forth in Section 20-20(a)(27) of the Act and Section
1450.755; or
5) Commingling money
or property of others with the licensee's own money or property, as set forth
in Section 20-20(a)(22) of the Act.
b) A petition for temporary suspension shall:
1) State the statutory basis for the action
petitioned;
2) Allege facts,
supported by sufficient evidence; and
3) Be presented to the Secretary.
c) An order for temporary
suspension shall:
1) Contain sufficient notice
regarding the basis for the action;
2) Recite the statutory basis for the
action;
3) Demand immediate
surrender of the license; and
4) Be
signed by the Secretary.
d) A notice of temporary suspension shall
accompany the order and shall:
1) Set a
hearing date within 30 days after the date on which the order takes
effect;
2) Identify the location
where the hearing will take place; and
3) Provide information as to where the
licensee may obtain the Department's Rules of Practice in Administrative
Hearings (68 Ill. Adm. Code 1110).
