(215 ILCS 5/1408)
Sec. 1408.
Discrimination prohibited.
No financial institution may:
(1) require as a condition of providing any product or service or renewal of
any contract for providing a product or service to any customer, that the
customer acquire, finance, or negotiate any policy or contract of insurance
through a particular insurer, insurance producer, or registered firm;
(2) in connection with a loan or extension of credit that requires a borrower
to obtain insurance, reject an insurance policy solely because the policy has
been issued or underwritten by any person who is not associated with the
financial institution;
(3) impose any discriminatory requirement on any insurance producer who is
not associated with the financial institution that is not imposed on any
insurance producer who is associated with the financial institution; or
(4) if the financial institution is a registered firm, require any debtor,
insurer, or insurance producer to pay a separate charge in connection with the
handling of insurance
that is required under a contract, unless: (i) the financial institution is the
registered firm
providing the insurance, (ii) if the financial institution is not the
registered
firm providing the insurance, the charge would be uniformly applied if the
financial institution was the registered firm providing the insurance, or (iii)
the charge is otherwise permitted by this Code or other
applicable State or federal law.
(Source: P.A. 90-41, eff. 10-1-97.)
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