Illinois Compiled Statutes 215 ILCS 5 Illinois Insurance Code. Section 512.55

    (215 ILCS 5/512.55) (from Ch. 73, par. 1065.59-55)

    (Section scheduled to be repealed on January 1, 2017)

    Sec. 512.55. Public Insurance Adjuster license.

    (a) The Director shall issue a Public Insurance Adjuster license to an applicant who has:

        (1) met the requirements of Section 512.54; and

        (2) paid the fee as set forth in Section 512.63; and

        (3) filed with the Director a bond as prescribed in

    Section 512.56.

    (b) Every Public Insurance Adjuster license shall remain in effect for one year from the date of its issuance.

    (c) Each Public Insurance Adjuster license shall contain the name, business address, resident address and personal identification number of the Public Insurance Adjuster, the date of issue, general conditions relative to expiration or termination and any other information the Director considers proper.

    (d) The holder of a Public Insurance Adjuster license shall notify the Director, in writing, of a change of either business or residence address within 30 days of such change.

    (e) Each Public Insurance Adjuster license shall remain in effect as long as the holder of the license maintains in force and effect the bond required by Section 512.56 and pays the annual fee required by Section 512.63 by the date due as prescribed by the Director, unless the license is revoked or suspended pursuant to Section 512.61.

    The Department may refuse to issue or may suspend the license of any person who fails to file a return, or to pay the tax, penalty or interest shown in a filed return, or to pay any final assessment of tax, penalty or interest, as required by any tax Act administered by the Illinois Department of Revenue, until such time as the requirements of any such tax Act are satisfied.

(Source: P.A. 95-213, eff. 1-1-08.)

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Last modified: February 18, 2015