Ill. Agent’s License Revoked for Alleged Financial Impropriety

Illinois Director of Insurance J. Anthony Clark has revoked the insurance producer license of Joseph Welps of Wilmington effective July 8, 2003. Welps had been licensed since November 14, 1996.

Welps was licensed to sell life, accident and health and fire and casualty insurance. The Order of Revocation was issued as a result of an examination revealing the improper withholding of fiduciary monies ($2,508.90) and the failure to maintain insurance related books and records as required.

Under the Illinois Administrative Review Law he may have the right to appeal and request a stay of the Order.