815 ILCS 180/30

(815 ILCS 180/30)

Sec. 30.

Unearned premiums.

Upon cancellation or expiration of
collateral protection insurance, the amount of unearned premiums, if any, as
calculated in accordance with the policy, shall be refunded to
the debtor.  The amount of
unearned premiums, however, may not be calculated by the Rule of 78ths
method.
A
refund of unearned premiums may be credited to the debtor's obligation under
the credit agreement or distributed directly to the debtor by check or other
means.

(Source: P.A. 89-623, eff. 8-9-96.)