Illinois § 513a12 Books and records

Illinois Statutes

§ 513a12 — Books and records

Illinois § 513a12

JurisdictionIllinois

TopicREGULATION

Ch. 215INSURANCE

Act 215 ILCS 5/Illinois Insurance Code.

Art.Article XXXIIA - Premium Finance Regulation

This text of Illinois § 513a12 (Books and records) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

215 Ill. Comp. Stat. 513a12 (2026).

Text

(a)Until payment in full and 3 years thereafter every licensee shall maintain each premium finance agreement or duplicate originals thereof and all original documents relating thereto (except those papers returned to the insured) so as to be readily available for examination by the Director.

(b)Every licensee shall maintain a register, ledger, or combination of records for each premium finance agreement that can readily show:

(1)the date of acquisition;

(2)the name of the insured;

(3)the identifying number;

(4)the principal balance;

(5)the amount of all charges assessed;

(6)the balance; and (7) a distribution of proceeds showing the dates, amounts, and names of the persons to whom any part of the proceeds were distributed.

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(a) Until payment in full and 3 years thereafter every licensee shall maintain each premium finance agreement or duplicate originals thereof and all original documents relating thereto (except those papers returned to the insured) so as to be readily available for examination by the Director. (b) Every licensee shall maintain a register, ledger, or combination of records for each premium finance agreement that can readily show: (1) the date of acquisition; (2) the name of the insured; (3) the identifying number; (4) the principal balance; (5) the amount of all charges assessed; (6) the balance; and (7) a distribution of proceeds showing the dates, amounts, and names of the persons to whom any part of the proceeds were distributed.