Illinois § 11-4

§ 11-4.

Orders to cease and desist and civil penalties. (a) If the Secretary determines that a licensee, an authorized delegate, or any other person has engaged or is engaged in practices contrary to this Act, the rules adopted under this Act, or an order issued under this Act, the Secretary may issue an order requiring the licensee or authorized delegate to cease and desist from the violation. The order becomes effective upon service of it upon the licensee or authorized delegate. (b) The Secretary may issue an order against a licensee to cease and desist from providing money transmission through an authorized delegate that is the subject of a separate order by the Secretary. (c) The Secretary may, in addition to or without the issuance of a cease and desist order, assess a penalty up to $1,000 against a licensee or other person for each violation of this Act, the rules adopted under this Act, or an order issued under this Act as set forth in Section 11-6. The issuance of an order under this Section shall not be a prerequisite to the taking of any action by the Secretary under this or any other Section of this Act. (d) The Secretary shall issue a formal written notice of the cease and desist order, setting forth the specific reasons for the order and serve the licensee or the authorized delegate, either personally or by certified mail. Service by certified mail shall be deemed completed when the notice is deposited in the U.S. Mail. (Source: P.A. 103-991, eff. 8-9-24.)