Insurance License Revoked

SPRINGFIELD, IL. -- Illinois Director of Insurance J. Anthony Clark has revoked the business entity license of the Smagala Insurance, Inc. of Oak Lawn and the insurance producer licenses of Christine L. Smagala and Stanley A. Smagala of Burbank effective April 25, 2003. Ms. Smagala had been licensed since 1983 and Mr. Smagala had been licensed since 1973. The business entity had been licensed since June 8, 2000.

The Smagala's were licensed to sell life, accident and health and fire and casualty insurance. The licenses of the business entity and Smagalas were revoked as a result of an examination revealing the misappropriation and improper withholding of fiduciary monies, and multiple PFTA record keeping violations.

Under the Illinois Administrative Review Law they may have the right to appeal and request a stay of the Order. A copy of the Director's Order is attached.