Section 1480.392  Special Revocation Procedures

a)         The Commission shall serve, by first-class United States Mail at the mailing address of record with the Commission, notice upon a license, permit or registration holder who failed to:

1)         Pay a franchise tax, license fee or penalty or comply with any other requirements under the Business Corporation Act of 1983 [805 ILCS 5], the Limited Liability Company Act [805 ILCS 180], the Uniform Partnership Act (1997) [805 ILCS 206] and Uniform Limited Partnership Act (2001) [805 ILCS 215], causing the business entity to become dissolved or declared not in good standing or its assumed name to become inactive with the Illinois Secretary of State.

2)         Comply with Commission regulations and orders regarding the filing of proof of insurance and annual reports and the payment of penalties or fines.

b)         The notice shall advise the license, permit or registration holder of the apparent violations and state that, unless the violation is corrected within 30 days from the date the notice is served, the license, permit or registration will be suspended by operation of law without further action by the Commission.

c)         Upon suspension of the license, permit or registration, the Commission shall issue another notice to the license, permit or registration holder that shall advise of the apparent violations and state that, unless the violation is corrected within 30 days from the date of suspension, the license, permit or registration will be revoked by operation of law without further action by the Commission.

(Source:  Added at 38 Ill. Reg. 5821, effective March 14, 2014)