Illinois Statutes
§ 1407 — Rebating and discounting
Illinois·Topic REGULATION·Ch. 215 INSURANCE·Act 215 ILCS 5/ Illinois Insurance Code.·Art. Article XLIV - Financial Institutions Insurance Sales Law
(a)No financial institution may offer a rebate on an insurance product in violation of Section 151 of this Code.
(b)No financial institution may offer a discount on a loan or extension of credit for the purpose of inducing the customer to purchase insurance required in connection with the loan or extension of credit.
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Legislative History
(Source: P.A. 90-41, eff. 10-1-97.)
Nearby Sections
15
§ 14
Confidentiality§ 14.05
§ 14.05§ 14.1
Contribution Certificate§ 1400
Title§ 1401
Purpose§ 1402
Definitions§ 1405
Extensions of credit§ 1407
Rebating and discounting§ 1409
Disclosure§ 141
Agency contracts