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215 ILCS 5/1409

Disclosure

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.

A financial institution shall clearly and conspicuously disclose in any written advertisement or promotional or informational material regarding an insurance product that the insurance offered, recommended, sponsored, or sold: (1) is not a deposit; (2) is not insured by the Federal Deposit Insurance Corporation, or in the case of a credit union, by the National Credit Union Share Insurance Fund; (3) is not guaranteed by the financial institution or an affiliated insured depository institution; and (4) where appropriate, involves investment risk, including potential loss of principal.

Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.