(225 ILCS 335/3.2)
(Section scheduled to be repealed on January 1, 2026)
Sec. 3.2.
Bond.
Before issuing or renewing a license, the
Department shall require each applicant or licensee to file and
maintain in force a surety bond, issued by an insurance company
authorized to transact fidelity and surety business in the State of
Illinois.
The bond shall be continuous
in form, unless terminated by the insurance company. An
insurance company may terminate a bond and avoid further liability by
filing a 60-day notice of termination with the Department and, at the
same time, sending the notice to the roofing contractor. A license
shall be cancelled without hearing on the termination date of the roofing
contractor's
bond, unless a new bond is filed with the Department to become
effective at the termination date of the prior bond. If a license has
been cancelled without hearing under this Section, the license shall be
reinstated upon showing
proof of compliance with this Act.
(Source: P.A. 91-950, eff. 2-9-01.)
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