Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 665/11.5

(205 ILCS 665/11.5)

Sec. 11.5. Examination of debt management service provider.

The Secretary at any time, either in
person or through an appointed representative, may examine the condition and
affairs of a
debt management service provider.  In connection with any
examination, the Secretary may examine on oath any debt management service provider and
any
director,
officer, employee, customer, manager, partner, member, creditor or stockholder
of a licensee concerning the affairs and business of the debt management service provider.  The
Secretary shall ascertain whether the debt management service provider transacts its business in the
manner prescribed by law and the rules issued thereunder.  The
debt management service provider shall pay the cost of the examination as determined by the Secretary by
administrative rule.  Failure to pay the examination fee within 30 days after
receipt of demand from the Secretary may result in the suspension of the license
until the fee is paid.  The Secretary shall have the right to investigate and
examine any person, whether licensed or not, who is engaged in the debt
management service business.  The Secretary shall have the power to subpoena the
production of any books and records pertinent to any investigation.

(Source: P.A. 96-1420, eff. 8-3-10.)