Disclosure

215 ILCS 5/1409, under Financial Institutions Insurance Sales Law.

215 ILCS 5/1409

(215 ILCS 5/1409)

    Sec. 1409. Disclosure. A financial institution shall clearly and conspicuously disclose in any written advertisement or promotional or informational material regarding an insurance product that the insurance offered, recommended, sponsored, or sold:

    (1) is not a deposit;

    (2) is not insured by the Federal Deposit Insurance Corporation, or in the case of a credit union, by the National Credit Union Share Insurance Fund;

    (3) is not guaranteed by the financial institution or an affiliated insured depository institution; and

    (4) where appropriate, involves investment risk, including potential loss of principal.

(Source: P.A. 90-41, eff. 10-1-97.)