Illinois Compiled Statutes 225 ILCS 422 Collateral Recovery Act. Section 190

    (225 ILCS 422/190)

    (Section scheduled to be repealed on January 1, 2022)

    Sec. 190. Summary suspension. The Commission may summarily suspend the license of a repossession agency, the license of a recovery manager, or the recovery permit of an employee without a hearing, simultaneously with the institution of proceedings for a hearing provided for in this Act, if the Commission finds that evidence in its possession indicates that a repossession agency's, recovery manager's, or employee's continuation in the business of collateral recovery would constitute an imminent danger to the public. In the event that the Commission summarily suspends a license or recovery permit without a hearing, a hearing by the Commission must be held within 30 calendar days after the suspension has occurred.

(Source: P.A. 97-576, eff. 7-1-12.)

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Last modified: February 18, 2015