§ 500-15

(Section scheduled to be repealed on January 1, 2027) Sec. 500-15. License required. (a) A person may not sell, solicit, or negotiate insurance in this State for any class or classes of insurance unless the person is licensed for that line of authority in accordance with this Article. (b) A person may not, for a fee, engage in the business of offering any advice, counsel, opinion, or service with respect to the benefits, advantages, or disadvantages under any policy of insurance that could be issued in Illinois, unless that person is: (1) engaged or employed as an attorney licensed to practice law and performing duties incidental to that position; (2) a licensed insurance producer, limited insurance representative, or temporary insurance producer offering advice concerning a class of insurance as to which he or she is licensed to transact business; (3) a trust officer of a bank performing duties incidental to his or her position; (4) an actuary or a certified public accountant engaged or employed in a consulting capacity, performing duties incidental to that position; or (5) a licensed public adjuster acting within the scope of his or her license. (c) In addition to any other penalty set forth in this Article, an individual who knowingly violates subsection (a) is guilty of a Class A misdemeanor. (d) In addition to any other penalty set forth in this Article, any individual violating subsection (a) or (b) and misappropriating or converting any moneys collected in conjunction with the violation is guilty of a Class 4 felony.

Legislative History

(Source: P.A. 92-386, eff. 1-1-02 .)