225 ILCS 312/65

A license issued pursuant to this Act may be suspended, revoked, or subjected to a penalty by the Administrator upon verification that any one or more of the following reasons exist: (1) any false statement as to material matter in the application; (2) fraud, misrepresentation, or bribery in securing a license; (3) failure to notify the Administrator and the owner or lessee of an elevator or related mechanisms of any condition not in compliance with this Act; or (4) violation of any provisions of this Act or the rules promulgated hereunder.