Illinois Compiled Statutes 215 Insurance: Article XLIV - Financial Institutions Insurance Sales Law

• Illinois Insurance Code. - 215 ILCS 5, Section 1400
  Title. This Article may be cited as the Financial Institutions Insurance Sales Law. (Source: P.A. 90-41, eff. 10-1-97.)
• Illinois Insurance Code. - 215 ILCS 5, Section 1401
  Purpose. The purpose of this Article is to increase the availability of insurance products to the citizens of this State by expanding those businesses...
• Illinois Insurance Code. - 215 ILCS 5, Section 1402
  Definitions. For the purposes of this Article: "Financial institution" means: (1) a State bank, a national bank, or an out-of-state bank, as those terms...
• Illinois Insurance Code. - 215 ILCS 5, Section 1403
  Licensure requirements for financial institutions. (a) A financial institution transacting insurance business in this State shall register with the Director pursuant to the Illinois...
• Illinois Insurance Code. - 215 ILCS 5, Section 1404
  Subsidiaries or divisions. A financial institution shall not qualify for registration as a registered firm under Section 499.1 of this Code unless: (1) it...
• Illinois Insurance Code. - 215 ILCS 5, Section 1405
  Extensions of credit. A financial institution shall not delay or impede the completion of a loan transaction or other transactions involving the extension of...
• Illinois Insurance Code. - 215 ILCS 5, Section 1406
  Insurance and financial institution products. (a) No financial institution may offer banking products or services, or fix or vary the consideration of the offer,...
• Illinois Insurance Code. - 215 ILCS 5, Section 1407
  Rebating and discounting. (a) No financial institution may offer a rebate on an insurance product in violation of Section 151 of this Code. (b)...
• Illinois Insurance Code. - 215 ILCS 5, Section 1408
  Discrimination prohibited. No financial institution may: (1) require as a condition of providing any product or service or renewal of any contract for providing...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 1410
  Misleading advertising. No financial institution or registered firm may employ any advertisement that would mislead or otherwise cause a reasonable person to believe mistakenly...
• Illinois Insurance Code. - 215 ILCS 5, Section 1411
  Commissions and compensation. No financial institution shall pay, directly or indirectly, any commission, service fee, brokerage, or other valuable consideration to any person for...
• Illinois Insurance Code. - 215 ILCS 5, Section 1412
  Solicitations to loan applicants. (a) A financial institution that requires a customer to obtain insurance in connection with a loan or extension of credit...
• Illinois Insurance Code. - 215 ILCS 5, Section 1413
  Separate physical location and sales force when insurance is solicited or sold in connection with a loan. (a) An employee of a financial institution...
• Illinois Insurance Code. - 215 ILCS 5, Section 1414
  Signage. Signs concerning the availability of insurance products offered by the financial institution or by any registered firm shall be clearly displayed in the...
• Illinois Insurance Code. - 215 ILCS 5, Section 1415
  Confidential customer information. (a) A financial institution that is a registered firm may not release a customer's insurance information to any person other than...
• Illinois Insurance Code. - 215 ILCS 5, Section 1416
  Prohibited defenses. A violation of any provision of this Article shall not be used as a defense by any person in any action by...

Last modified: February 18, 2015