Loan Delinquency Hearing

Section 1050 Section 1050.740  Loan Delinquency Hearing a)         Authority.  The Director may hold public hearings concerning a licensee that is subject to examination pursuant to Section 4-8 of the Act.  The hearing shall be held in accordance with Section 4-8(c) of the Act. b)         Notice.  Written notice of the time, place, date and subject of the hearing shall be posted in both the Springfield and Chicago offices of the Division at least 10 days prior to the hearing.  The Director may distribute such notice to other interested persons upon request. c)         Testimony.  Testimony at the public hearings shall be taken in accordance with Section 4-8(c) of the Act.  Testimony may be either oral or written.  If oral, the party proposing to testify must complete a witness slip that shall be provided at the hearing.  If written, the proposed testimony must be received by the Director prior to the hearing.  Notwithstanding the foregoing, testimony shall be permitted at the hearing only if the party proposing to testify has completed, and the Director has received, either a written letter of complaint or a consumer complaint form as prescribed by the Director. d)         Hearings.  Hearings held under this Section shall be for informational purposes only and shall not be subject to 38 Ill. Adm. Code 100.