(205 ILCS 670/15e) (from Ch. 17, par. 5419.1)
Sec. 15e.
Insurance.
(a) A licensee shall not be considered to be
the obligor's agent or broker in connection with the
purchase or sale of
insurance under this Act for any purpose.
(b) Consideration or another thing of value may be paid to or retained by
the licensee, or an affiliate of the licensee, in connection with any
insurance, debt cancellation contract, or other such product purchased pursuant
to the loan made or held by the licensee, and all or a portion of the
consideration may be included in the amount charged to the obligor, so
long as the licensee discloses to the obligor that either the licensee or an
affiliate may receive something of value in connection with the purchase by the
obligor.
(Source: P.A. 90-437, eff. 1-1-98.)
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