Section 3.110  Hearing to Verify Claimants and Claim Amounts

The Trustee shall give at least a 10-day notice by registered or certified mail to the licensee/registrant posting the collateral, as well as to all known claimants advising them of the date, time and place of an administrative hearing.  A hearing to receive claims not previously submitted to the Trustee and to verify claimants and their amount shall be held by the Trustee in accordance with 8 Ill. Adm. Code 3.60.  Notice of the date, time and place of the hearing shall be published in the official State newspaper and once in a newspaper in the business' licensed location.  The administrative law judge, in his/her findings, shall order that all, any portion or none of the collateral be used by the Trustee for the payment of valid claims.

(Source:  Amended at 22 Ill. Reg. 11698, effective June 25, 1998)