(20 ILCS 3520/40)
Sec. 40. Premiums and fees.
(a) The Department may set the premiums and fees to be paid to it for providing bonding assistance under the Program.
(b) The premiums and fees set by the Department shall be payable in the amounts, at the time, and in the manner that the Department requires.
(c) The premiums and fees need not be uniform among transactions and may vary in amount (i) among transactions and (ii) at different stages during the terms of transactions.
(d) A determination by the Department shall remain effective throughout the period during which the bonding assistance provided by the Department is in effect, provided there is no material change in the application as approved pursuant to Section 35.
(Source: P.A. 88-407; 88-665, eff. 9-16-94.)
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Last modified: February 18, 2015