Ill. Admin. Code tit. 86 § 3000.224

Current through Register Vol. 48, No. 42, October 18, 2024

Section 3000.224 - Economic Disassociation

a) Each owner and supplier licensee shall provide a means for the economic disassociation of a Key Person in the event such economic disassociation is required by an order of the Board.

b) Based upon findings from an investigation into the character, reputation, experience, associations, business probity and financial integrity of a Key Person, the Board may enter an order upon the licensee to require the economic disassociation of such Key Person. A violation of an order of the Board for the economic disassociation of a Key Person may result in a complaint under Subpart K. Any hearing concerning such complaint shall be a hearing on the merits of the Board's determination that economic disassociation is warranted. The licensee shall be considered the party to such hearing.

Ill. Admin. Code tit. 86, § 3000.224

Added at 22 Ill. Reg. 19541, effective October 23, 1998