The purpose of this Article is to increase the availability of insurance products to the citizens of this State by expanding those businesses authorized to sell insurance products to include financial institutions, and to protect the interests of the citizens of this State by regulating their authority to do so. This Article does not apply to activities or services conducted in this State by or for a financial institution that do not require licensure as an insurance producer, temporary insurance producer, limited insurance representative, or registered firm.
215 ILCS 5/1401
Purpose
Known as the Financial Institutions Insurance Sales Law
The act spans §§ 215-5-1400 to 215-5-1416 (17 sections).
P.A. 90-41, eff. 10-1-97.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.