Ill. Admin. Code tit. 38 § 346.80

Current through Register Vol. 48, No. 45, November 8, 2024

Section 346.80 - Enforcement

a) If the Secretary determines after an examination of the activities of a banking development district that some or all of the banking services identified in the approved application for the banking development district have not been performed, the Secretary may take the following actions after notice to the approved applicant and an opportunity to be heard at an administrative hearing:

1) require the approved applicant to make such modifications to the banking development district's banking services to achieve the goals identified in the application for approval of a banking development district; or

2) suspend the approved applicant's participation in the banking development district program for a stated period of time; or

3) terminate the approved applicant's participation in the banking development program.

b) All administrative hearings shall be conducted in accordance with 38 Ill. Adm. Code 100. The Secretary shall notify the State Treasurer of any actions taken pursuant to subsections (a)(1) through (3), and the outcome of any related administrative hearing.

Ill. Admin. Code tit. 38, § 346.80

Added at 48 Ill. Reg. 12263, effective 8/2/2024