1. (a) Revocation of a license by the Department constitutes a termination of the license on the earlier of:

   1. (1) the day of the revocation order;
   2. (2) the day that a licensee voluntarily files for bankruptcy under the federal bankruptcy laws; or
   3. (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.
2. (b) Voluntary surrender of a license by a licensee constitutes a termination of the license on the day the surrender occurs.
3. (c) Failure to apply for a license renewal constitutes a termination of the license on the day the license expires.
4. (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.

(Source: P.A. 89-287, eff. 1-1-96.)