(215 ILCS 5/500-65)
(Section scheduled to be repealed on January 1, 2027)
Sec. 500-65.
Temporary insurance producer license for an applicant.
(a) The Director may grant a temporary insurance producer license to an
applicant for
an insurance producer license, without requiring an examination, for a period
of 90 days, when
the applicant otherwise meets the requirements of this Article. During that
90-day period, the
applicant must be enrolled in a training course or training program conducted
by or on behalf of
the appointing insurance company and be in the process of fulfilling the
pre-licensing
requirements of Sections 500-25 and 500-30.
(b) An individual applicant may not hold more than one temporary insurance
producer license during his or her lifetime.
(c) The Director may refuse to grant temporary insurance producer licenses
to
applicants from an insurance company when during a 6-month period more than 50%
of that
company's temporary insurance producer license holders have failed to obtain
insurance producer
licenses prior to the expiration of their temporary insurance producer
licenses.
(d) Before the Director approves any temporary insurance producer license,
the
insurance company requesting the license must file with the Director an
application and the fee
required by Section 500-135. The application must be made on the form and in
the manner the
Director requires.
(Source: P.A. 92-386, eff. 1-1-02.)
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