Ill. Admin. Code tit. 92 § 1270.100

Current through Register Vol. 49, No. 1, January 3, 2025

Section 1270.100 - Authority of Fiduciary to Continue Operations

The following fiduciaries shall have authority to continue operations under a license or registration issued by the Commission, pending completion of transfer proceedings, in lieu of the person to which the license or registration was issued:

a) Administrators and executors of the estates of deceased holders;

b) Conservators or guardians of incompetent holders;

c) Provisional directors or custodians of corporations appointed by a court pursuant to Section 12.55 of the Business Corporation Act of 1983 (Ill. Rev. Stat. 1985, ch. 32, par. 12.55); and

d) Trustees, receivers, conservators, assignees, or other persons authorized by law to collect and preserve the property of financially disabled, bankrupt, deceased, or incapacitated holders.

Ill. Admin. Code tit. 92, § 1270.100