(a) Revocation of a license by the Department constitutes a termination of the license on the earlier of: (1) the day of the revocation order; (2) the day that a licensee voluntarily files for bankruptcy under the federal bankruptcy laws; or (3) the day that an order for relief is entered in reference to a licensee as a consequence of a petition for involuntary bankruptcy filed under the federal bankruptcy laws. (b) Voluntary surrender of a license by a licensee constitutes a termination of the license on the day the surrender occurs. (c) Failure to apply for a license renewal constitutes a termination of the license on the day the license expires. (d) Denial of a license renewal by the Department constitutes a termination of the license on the day of the order denying the license renewal. bankruptcy under the federal bankruptcy laws; or reference to a licensee as a consequence of a petition for involuntary bankruptcy filed under the federal bankruptcy laws. (240 ILCS 40/Art. 10 heading) ARTICLE 10. DUTIES AND REQUIREMENTS OF LICENSEES
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