Illinois License Law
A licensee who believes IDFPR has improperly denied or revoked their license may:
AOnly accept the decision with no right of appeal
BRequest an administrative hearing to contest the decision✓ Correct
CFile a complaint with the Illinois Attorney General
DReapply for a new license without appealing
Explanation
Under the Illinois Administrative Procedure Act, a licensee who receives an adverse action from IDFPR (denial, suspension, revocation) has the right to request an administrative hearing before an administrative law judge. Further appeal can proceed to the circuit court.
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Key Terms to Know
Net Operating Income (NOI)
The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Math Concepts
State-Specific Concepts
License Law
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