Insurers shall audit policies issued through the residual market pursuant to Section 30 of this Act within 90 days of the policy effective date and may conduct quarterly audits thereafter. Insurers may audit policies issued through the voluntary market within 90 days of the policy effective date and shall conduct audits during the normal course of business thereafter.
215 ILCS 113/40
Insurer or service carrier audit
Known as the Employee Leasing Company Act
The act spans §§ 215-113-1 to 215-113-99 (18 sections).
P.A. 90-499, eff. 1-1-98; 90-794, eff. 8-14-98.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.