Illinois Code § 7-4
Illinois Code § 7-4. Reproduced from the official Illinois Compiled Statutes, with a citation summary, verification link, and related provisions.
§ 7-4.
Reports of certain events. (a) A licensee shall file a report with the Secretary within one business day after the licensee has reason to know of the occurrence of any of the following events: (1) the filing of a petition by or against the licensee under the United States Bankruptcy Code, 11 U.S.C. Sections 101 through 110, as amended or recodified from time to time, for bankruptcy or reorganization; (2) the filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors; or (3) the commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed. (b) A licensee shall file a report with the Secretary within 3 business days after the licensee has reason to know of the occurrence of any of the following events: (1) a charge or conviction of the licensee or of a key individual or person in control of the licensee for a felony; or (2) a charge or conviction of an authorized delegate for a felony. (Source: P.A. 103-991, eff. 8-9-24.)
Source: official Illinois text · Last verified 2026-08-27
At a glance
- Citation: Illinois Compiled Statutes § 7-4
- Jurisdiction: Illinois
- Code: Illinois Compiled Statutes
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Illinois Compiled Statutes. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Illinois attorney.
Common questions
What is the source of Illinois Compiled Statutes § 7-4?
The text above is transcribed from the Illinois Compiled Statutes, the codified statutes of Illinois. The official publisher link appears under "Verify the text" on this page.
What subject does Illinois Compiled Statutes § 7-4 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Illinois Compiled Statutes § 7-4 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Illinois source before relying on this text.
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