(765 ILCS 1015/1) (from Ch. 73, par. 1092)
Sec. 1.
If a bailee for hire makes a separate charge for any part or all of
the cost any insurance which he may carry to indemnify him against
liability for loss or damage of property of a bailor while in the
possession or control of the bailee, or if a bailee for hire in any manner
informs a bailor or prospective bailor that his property will be protected
from loss or damage while in the bailee's possession or control and makes a
charge for such protection, then the bailee shall furnish to the bailor, at
the time the bailment contract is entered into, a statement plainly showing
the type and extent of the coverage of such insurance, the particular
articles of property insured against loss or damage, the maximum amounts
recoverable, and the name of the insurance carrier. If the bailee is a self
insurer, no separate charge for insurance shall be made. The requirements
of this Act shall not apply to insurance procured by the bailee to protect
against loss while the property is in transit by mail, express or other
means of transportation.
(Source: Laws 1949, p. 335.)
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