Illinois Code § 6-2

§ 6-2.

Notice and information requirements for a change of key individuals. (a) A licensee adding or replacing any key individual shall: (1) provide notice in a manner prescribed by the Secretary within 15 days after the effective date of the key individual's appointment; and (2) provide information as required by Section 5-4 within 45 days after the effective date. (b) The Secretary may issue a formal written notice of denial of key individual within 90 days after the date on which the notice provided pursuant to subsection (a) was determined to be complete if the competence, experience, character, or integrity of the individual would not be in the best interests of the public or the customers of the licensee to permit the individual to be a key individual of such licensee. (c) The Secretary shall set forth the specific reasons for the denial in the notice of denial and serve the licensee and the denied individual, either personally, or by certified mail. Service by certified mail shall be deemed completed when the notice is deposited into the U.S. Mail. A licensee who has been denied by the Secretary under this subsection (c) may submit a written request for hearing which shall include the particular reasons why the licensee believes that the decision to deny was incorrect, within 10 days after service of the notice of the denial. If a licensee submits a timely request for a hearing, the Secretary shall schedule a hearing after the request for a hearing unless otherwise agreed to by the parties. The Secretary shall conduct hearings pursuant to this Section and in accordance with 38 Ill. Adm. Code 100. (d) If the notice provided pursuant to subsection (a) is not denied within 90 days after the date on which the notice was determined to be complete, or any extension thereof, the key individual is deemed approved. (e) If a multistate licensing process includes a key individual notice review and denial process pursuant to this Section and the licensee avails itself or is otherwise subject to the multistate licensing process: (1) the Secretary is authorized and encouraged to accept the determination of another state; (2) if the investigating state has sufficient staffing, expertise, and minimum standards for the purpose of this Section; or (3) if the Department is a lead investigative state, the Secretary is authorized and encouraged to investigate the applicant pursuant to subsection (b) and the timeframes established by agreement through the multistate licensing process. (Source: P.A. 103-991, eff. 8-9-24.)