815 ILCS 124/24: Cease and desist order.
Where this section sits in the code
- CHAPTER 815 BUSINESS TRANSACTIONS
- Buy-Now-Pay-Later Loan Consumer Protection Act.
(a) The Secretary may issue a cease and desist order to any licensee or person doing business without the required license, when in the opinion of the Secretary the licensee or other person has violated, is violating, or is about to violate any provision of this Act or any rule adopted by the Department under this Act or any requirement imposed in writing by the Department as a condition of granting any authorization permitted by this Act. The cease and desist order authorized by this Section may be issued prior to a hearing.
(b) The Secretary shall serve notice of the order, either personally or by certified mail. Service by certified mail shall be deemed completed when the notice is deposited into the U.S. Mail. The Secretary's notice shall include a statement of the reasons for the action.
(c) Within 15 days after service of the cease and desist order, the person subject to the order may request a hearing in writing. The Secretary shall schedule a preliminary hearing within 60 days after the request for a hearing unless the parties agree to a later date.
(d) If it is determined that the Secretary had the authority to issue the cease and desist order, the Secretary may issue orders as may be reasonably necessary to correct, eliminate, deter, or remedy the conduct described in the order and resulting harms.
(e) The powers vested in the Secretary by this Section are additional to all other powers and remedies vested in the Secretary by any law. Nothing in this Section shall be construed as requiring that the Secretary must employ the power conferred in this subsection instead of or as a condition precedent to the exercise of any other power or remedy vested in the Secretary.
Collected 2026-09-15T04:46:47Z. Source file · JSON