Chapter 215, INSURANCE

(215 ILCS 5/500-15) (Section scheduled to be repealed on January 1, 2037) Sec. 500-15. License required. (a) A person may not sell, solicit, or negotiate insurance in this State for any class or classes of insurance unless the person is licensed for that line of authority in acco…

(215 ILCS 5/500-150) (Section scheduled to be repealed on January 1, 2037) Sec. 500-150. Severability. The provisions of this Article are severable under Section 1.31 of the Statute on Statutes. (Source: P.A. 92-386, eff. 1-1-02.)

(215 ILCS 5/500-155) (Section scheduled to be repealed on January 1, 2037) Sec. 500-155. Disclosure. A policy the solicitation of which involves an insurance producer, limited insurance representative, or temporary insurance producer must identify the name of the producer, repres…

(215 ILCS 5/500-20) (Section scheduled to be repealed on January 1, 2037) Sec. 500-20. Exceptions to licensing. (a) Nothing in this Article shall be construed to require an insurer to obtain an insurance producer license. In this Section, the term "insurer" does not include an in…

(215 ILCS 5/500-25) (Section scheduled to be repealed on January 1, 2037) Sec. 500-25. Application for examination. (a) A resident individual applying for an insurance producer license must pass a written examination unless exempt pursuant to Section 500-45. Both part one and par…

(215 ILCS 5/500-30) (Section scheduled to be repealed on January 1, 2037) Sec. 500-30. Application for license. (a) An individual applying for a resident insurance producer license must make application on a form specified by the Director and declare under penalty of refusal, sus…

(215 ILCS 5/500-35) (Section scheduled to be repealed on January 1, 2037) Sec. 500-35. License. (a) Unless denied a license pursuant to Section 500-70, persons who have met the requirements of Sections 500-25 and 500-30 shall be issued a 2-year insurance producer license. An insu…

(215 ILCS 5/500-40) (Section scheduled to be repealed on January 1, 2037) Sec. 500-40. Nonresident licensing. (a) Unless denied a license pursuant to Section 500-70, a nonresident person shall receive a nonresident producer license if: (1) the person is currently licensed as a re…

(215 ILCS 5/500-45) (Section scheduled to be repealed on January 1, 2037) Sec. 500-45. Exemption from examination. (a) An individual who applies for an insurance producer license in this State who was previously licensed for the same lines of authority in another state shall not …

(215 ILCS 5/500-5) (Section scheduled to be repealed on January 1, 2037) Sec. 500-5. Scope of Article. This Article applies to all persons and insurance companies as defined in this Code. This Article does not apply to surplus lines producers licensed pursuant to Section 445 exce…

(215 ILCS 5/500-50) (Section scheduled to be repealed on January 1, 2037) Sec. 500-50. Insurance producers; examination statistics. (a) The use of examinations for the purpose of determining qualifications of persons to be licensed as insurance producers has a direct and far-reac…

(215 ILCS 5/500-55) (Section scheduled to be repealed on January 1, 2037) Sec. 500-55. Assumed names. An insurance producer doing business under any name other than the producer's legal name must notify the Director before using the assumed name. (Source: P.A. 92-386, eff. 1-1-02…

(215 ILCS 5/500-60) (Section scheduled to be repealed on January 1, 2037) Sec. 500-60. Temporary licensing. (a) The Director may issue a temporary insurance producer license for a period not to exceed 180 days and, at the discretion of the Director, may renew the temporary produc…

(215 ILCS 5/500-65) (Section scheduled to be repealed on January 1, 2037) Sec. 500-65. Temporary insurance producer license for an applicant. (a) The Director may grant a temporary insurance producer license to an applicant for an insurance producer license, without requiring an …

(215 ILCS 5/500-70) (Section scheduled to be repealed on January 1, 2037) Sec. 500-70. License denial, nonrenewal, or revocation. (a) The Director may place on probation, suspend, revoke, or refuse to issue or renew an insurance producer's license or may levy a civil penalty in a…

(215 ILCS 5/500-76) (Section scheduled to be repealed on January 1, 2037) Sec. 500-76. Applicant convictions. (a) The Director and the Department shall not require applicants to report the following information and shall not collect and consider the following criminal history rec…

(215 ILCS 5/500-77) (Section scheduled to be repealed on January 1, 2037) Sec. 500-77. Policyholder information and exclusive ownership of expirations. (a) As used in this Section, "expirations" means all information relative to an insurance policy including, but not limited to, …

(215 ILCS 5/500-80) (Section scheduled to be repealed on January 1, 2037) Sec. 500-80. Commissions. (a) An insurer or insurance producer may not pay a commission, service fee, brokerage, or other valuable consideration to a person for selling, soliciting, or negotiating insurance…

(215 ILCS 5/500-85) (Section scheduled to be repealed on January 1, 2037) Sec. 500-85. Notification of termination; immunity; confidentiality. (a) An insurer or authorized representative of an insurer that terminates the appointment, employment, contract, or other insurance busin…

(215 ILCS 5/500-90) (Section scheduled to be repealed on January 1, 2037) Sec. 500-90. Reciprocity. (a) The Director shall waive any requirements for a nonresident license applicant with a valid license from his or her home state, except the requirements imposed by Section 500-40…

(215 ILCS 5/500-95) (Section scheduled to be repealed on January 1, 2037) Sec. 500-95. Reporting of actions. An individual who, while licensed as an insurance producer, is convicted of a felony, must report the conviction to the Director within 30 days after the entry date of the…

(215 ILCS 5/507.2) (Section scheduled to be repealed on January 1, 2037) Sec. 507.2. Policyholder information and exclusive ownership of expirations. (a) As used in this Section, "expirations" means all information relative to an insurance policy including, but not limited to, th…

(215 ILCS 5/51) (from Ch. 73, par. 663) (Section scheduled to be repealed on January 1, 2037) Sec. 51. Issuance of certificate of authority. When the Director has been notified that the company has the required surplus as set forth in Section 43 of this Article as now and hereaft…

(215 ILCS 5/513a1) (from Ch. 73, par. 1065.60a1) Sec. 513a1. Scope of Article. (a) Except as provided in subsection (b), this Article applies to all persons engaged in the business of financing insurance premiums, entering into premium finance agreements, or otherwise acquiring p…

(215 ILCS 5/513a10) (from Ch. 73, par. 1065.60a10) Sec. 513a10. Maximum service charge. (a) No service charge shall be made for financing premiums other than as permitted by this Article. (b) The service charge is to be computed on the principal balance from the effective date of…

(215 ILCS 5/513a11) (from Ch. 73, par. 1065.60a11) Sec. 513a11. Cancellation requirements upon default. (a) When a premium finance agreement contains a power of attorney enabling the premium finance company to cancel any insurance contract or contracts listed in the premium finan…

(215 ILCS 5/513a12) (from Ch. 73, par. 1065.60a12) Sec. 513a12. Books and records. (a) Until payment in full and 3 years thereafter every licensee shall maintain each premium finance agreement or duplicate originals thereof and all original documents relating thereto (except thos…

(215 ILCS 5/513a13) Sec. 513a13. Electronic delivery of notices and documents. (a) As used in this Section: "Delivered by electronic means" includes: (1) delivery to an electronic mail address at which a party has consented to receive notices or documents; or (2) posting on an el…

(215 ILCS 5/513a2) (from Ch. 73, par. 1065.60a2) Sec. 513a2. Definitions. (a) "Accepted agreement" means a premium finance agreement deemed to be accepted by a premium finance company when a binder number or policy number is provided for each policy premium listed on the premium …

(215 ILCS 5/513a3) (from Ch. 73, par. 1065.60a3) Sec. 513a3. License required. (a) No person may act as a premium finance company or hold himself out to be engaged in the business of financing insurance premiums, either directly or indirectly, without first having obtained a lice…

(215 ILCS 5/513a4) (from Ch. 73, par. 1065.60a4) Sec. 513a4. Application and license. (a) Each application for a premium finance license shall be made on a form specified by the Director and shall be signed by the applicant declaring under penalty of refusal, suspension, or revoc…

(215 ILCS 5/513a5) (from Ch. 73, par. 1065.60a5) Sec. 513a5. Insurance Producer Administration Fund. All fees and penalties paid to and collected by the Director under this Article shall be paid promptly after receipt, together with a detailed statement of the fees, into the Insu…

(215 ILCS 5/513a6) (from Ch. 73, par. 1065.60a6) Sec. 513a6. Felony convictions. Any person or authorized member of a partnership or corporation who, while licensed as a premium finance company, is convicted of a felony shall report the conviction to the Director within 30 days o…

(215 ILCS 5/513a7) (from Ch. 73, par. 1065.60a7) Sec. 513a7. License suspension; revocation or denial. (a) Any license issued under this Article may be suspended, revoked, or denied if the Director finds that the licensee or applicant: (1) has wilfully violated any provisions of …

(215 ILCS 5/513a8) (from Ch. 73, par. 1065.60a8) Sec. 513a8. Examinations. (a) The Director may examine any applicant for or holder of a premium finance license. (b) All persons being examined, as well as their officers and directors, shall provide to the Director convenient and …

(215 ILCS 5/513a9) (from Ch. 73, par. 1065.60a9) Sec. 513a9. Premium finance agreement. (a) A premium finance agreement must be dated and signed by or on behalf of the named insured, and the printed portion shall be in at least 8-point type. The following items must be set forth …

(215 ILCS 5/513b1) Sec. 513b1. Pharmacy benefit manager contracts. (a) As used in this Article: "340B drug discount program" means the program established under Section 340B of the federal Public Health Service Act, 42 U.S.C. 256b. "340B entity" means a covered entity as defined …

(215 ILCS 5/513b1.1) Sec. 513b1.1. Pharmacy benefit manager reporting requirements. (a) A pharmacy benefit manager that provides services for a health benefit plan must submit an annual report no later than September 1, to the Department, each health benefit plan sponsor, and eac…

(215 ILCS 5/513b2) Sec. 513b2. Licensure requirements. (a) Beginning on July 1, 2020, to conduct business in this State, a pharmacy benefit manager must register with the Director. To initially register or renew a registration, a pharmacy benefit manager shall submit: (1) A nonre…

(215 ILCS 5/513b3) Sec. 513b3. Examination. (a) The Director, or his or her designee, may examine a registered pharmacy benefit manager related to all of its lines of business, including government programs, under the Director's jurisdiction in accordance with Sections 132-132.7.…

(215 ILCS 5/513b4) Sec. 513b4. Denial, revocation, or suspension of registration; administrative fines. (a) Denial of an application or suspension or revocation of a registration in accordance with this Section shall be by written order sent to the applicant or registrant by cert…

(215 ILCS 5/513b5) Sec. 513b5. Failure to register. Any pharmacy benefit manager that operates without a registration or fails to register with the Director and pay the fee prescribed by this Article is an unauthorized insurer as defined in Article VII of this Code and shall be s…

(215 ILCS 5/513b6) Sec. 513b6. Insurance Producer Administration Fund. All fees and fines paid to and collected by the Director under this Article shall be paid promptly after receipt thereof, together with a detailed statement of such fees, into the Insurance Producer Administra…

(215 ILCS 5/513b7) Sec. 513b7. Pharmacy audits. (a) As used in this Section: "Audit" means any physical on-site, remote electronic, or concurrent review of a pharmacist or pharmacy service submitted to the pharmacy benefit manager or pharmacy benefit manager affiliate by a pharma…

(215 ILCS 5/52) (from Ch. 73, par. 664) (Section scheduled to be repealed on January 1, 2037) Sec. 52. Voluntary surrender of articles of incorporation. At any time prior to the issuance of the certificate of authority to the company the articles of incorporation may be voluntari…

(215 ILCS 5/522) (from Ch. 73, par. 1065.69) (Text of Section before amendment by P.A. 104-645) Sec. 522. Purpose. This article is to make basic property insurance increasingly available to the citizens of this State, and to deter the insurance industry from geographically redlin…

(215 ILCS 5/523) (from Ch. 73, par. 1065.70) (Text of Section before amendment by P.A. 104-645) Sec. 523. Definitions.) (1) "Basic Property Insurance" means the coverage against direct loss to real or tangible personal property at a fixed location provided in the Standard Fire Po…

(215 ILCS 5/524) (from Ch. 73, par. 1065.71) (Text of Section before amendment by P.A. 104-645) Sec. 524. FAIR Plan Procedure. (1) Any person having an insurable interest in real or tangible personal property at a fixed location in an urban area who, after diligent effort has bee…

(215 ILCS 5/524.5) (This Section may contain text from a Public Act with a delayed effective date) Sec. 524.5. Participation in and management of the Association. (a) All admitted insurers engaged in writing in this State, on a direct basis, basic property insurance or any basic …

(215 ILCS 5/525) (from Ch. 73, par. 1065.72) (Section scheduled to be repealed on January 1, 2027) Sec. 525. Industry Placement Program.) (1) Within 30 days after the effective date of this Article, all insurers engaged in writing in this State, on a direct basis, basic property …