Hearing to Verify Claimants and Claim Amounts

Section 3 Section 3.40  Hearing to Verify Claimants and Claim Amounts The Trustee shall give at least a 10-day notice by registered or certified mail to the Surety posting the bond, the licensee/registrant, as well as to all known claimants, advising them of the date, time and place of the 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 Section 3.60 of this Part.  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. In the event that the surety fails to object to any of the valid claims (8 Ill. Adm. Code 1.114), the surety shall pay within 35 days from the date of the hearing officer's decision, to the Director of the Illinois Department of Agriculture, as Trustee, the amount of the surety bond ordered to be paid to the Director of the Illinois Department of Agriculture, as Trustee, for the purpose of paying the valid claims. When requested, the Trustee will provide a breakdown on how the trust account was distributed.  The final administrative decision (see 8 Ill. Adm. Code 1.77(f) and 1.124) shall be subject to judicial review in accordance with the Administrative Review Law [735 ILCS 5/Art. III].