(815 ILCS 405/23.1)
The seller may charge a premium for insurance, in
lieu of perfecting a security interest, to the extent that the premium does not
exceed the fees paid to public officials for determining the existence of or
for perfecting or satisfying a security interest. The premium must be
disclosed in the itemization of the amount financed.
(Source: P.A. 90-437, eff. 1-1-98.)