Except as permitted by this Act or by federal law, regulations or opinion letters, no person shall pay or accept, directly or indirectly, any commission, discount, referral fee or other consideration as inducement or compensation for the referral of title business or for the referral of any escrow or other service from a title insurance company, independent escrowee or title insurance agent. Any violation of this Section 24 is a Class A misdemeanor.
215 ILCS 155/24
Referral fee; penalty
Known as the Title Insurance Act
The act spans §§ 215-155-1 to 215-155-9 (37 sections).
P.A. 94-893, eff. 6-20-06.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.