Illinois Compiled Statutes 215 Insurance: Article XXXIIA - Premium Finance Regulation

• Illinois Insurance Code. - 215 ILCS 5, Section 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,...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...
• Illinois Insurance Code. - 215 ILCS 5, Section 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...

Last modified: February 18, 2015