Illinois Administrative Code
Title 92 - TRANSPORTATION
Part 1270 - TRANSFERS OF LICENSES
Subpart B - OPERATIONS BY FIDUCIARIES PENDING TRANSFER
Section 1270.100 - Authority of Fiduciary to Continue Operations
Current through Register Vol. 48, No. 12, March 22, 2024
The following fiduciaries shall have authority to continue operations under a license or registration issued by the Commission, pending completion of transfer proceedings, in lieu of the person to which the license or registration was issued:
a) Administrators and executors of the estates of deceased holders;
b) Conservators or guardians of incompetent holders;
c) Provisional directors or custodians of corporations appointed by a court pursuant to Section 12.55 of the Business Corporation Act of 1983 (Ill. Rev. Stat. 1985, ch. 32, par. 12.55); and
d) Trustees, receivers, conservators, assignees, or other persons authorized by law to collect and preserve the property of financially disabled, bankrupt, deceased, or incapacitated holders.
