Illinois Compiled Statutes
Information maintained by the Legislative
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215 ILCS 5/500-10
(215 ILCS 5/500-10)
(Section scheduled to be repealed on January 1, 2017)
In addition to the definitions in Section 2 of
Code, the following
definitions apply to this Article:
"Business entity" means a corporation, association, partnership, limited
company, limited liability partnership, or other legal entity.
"Car rental limited line licensee" means a person authorized under the
Section 500-105 to sell certain coverages relating to the rental of vehicles.
"Home state" means the District of Columbia and any state or territory of the
States in which an insurance producer maintains his or her principal place of
principal place of business and is licensed to act as an insurance producer.
"Insurance" means any of the lines of authority in Section 500-35, any health
under the Health Maintenance Organization Act, or any limited health care plan
Limited Health Service Organization Act.
"Insurance producer" means a person required to be licensed under the laws of
to sell, solicit, or negotiate insurance.
"Insurer" means a company as defined in subsection (e) of Section 2 of this
health maintenance organization as defined in the Health Maintenance
Organization Act, or a
limited health service organization as defined in the Limited Health
Service Organization Act.
"License" means a document issued by the Director authorizing an individual
to act as an
insurance producer for the lines of authority specified in the document or
authorizing a business
entity to act as an insurance producer. The license itself does not create any
apparent, or inherent, in the holder to represent or commit
an insurance carrier.
"Limited lines insurance" means those lines of insurance defined in Section
any other line of insurance that the Director may deem it necessary to
recognize for the purposes
of complying with subsection (e) of Section 500-40.
"Limited lines producer" means a person authorized by the Director to sell,
negotiate limited lines insurance.
"Negotiate" means the act of conferring directly with or offering advice
directly to a
purchaser or prospective purchaser of a particular contract of insurance
of the substantive benefits, terms, or conditions of the contract, provided
that the person
engaged in that act either sells insurance or obtains insurance from
insurers for purchasers.
"Person" means an individual or a business entity.
"Rental agreement" means a written agreement setting forth the terms and
governing the use of a vehicle provided by a rental company for
rental or lease.
"Rental company" means a person, or a franchisee of the person, in the
providing primarily private passenger vehicles to the public under a
rental agreement for a period
not to exceed 30 days.
"Rental period" means the term of the rental agreement.
"Renter" means a person obtaining the use of a vehicle from a
rental company under the
terms of a rental agreement for a period not to exceed 30 days.
"Self-service storage facility limited line licensee" means a person
authorized under the provisions of Section 500-107 to sell certain coverages
relating to the rental of self-service storage facilities.
"Sell" means to exchange a contract of insurance by any means, for
money or its equivalent, on
behalf of an insurance company.
"Solicit" means attempting to
sell insurance or asking or urging a person to apply for a
particular kind of insurance from a particular company.
"Terminate" means the cancellation of the relationship between an insurance
producer and the
insurer or the termination of a producer's authority to transact insurance.
"Travel insurance" means insurance coverage for personal risks incident to planned travel, including, but not limited to: (1) the interruption or cancellation of a trip or event, (2) the loss of baggage or personal effects, (3) damages to accommodations or rental vehicles, or (4) sickness, accident, disability, or death occurring during travel. "Travel insurance" does not include major medical plans that provide comprehensive medical protection for travelers with trips lasting 6 months or longer, including those working overseas as an ex-patriot or as military personnel on deployment.
"Uniform Business Entity Application" means the current version of the
National Association of Insurance Commissioners' Uniform
Business Entity Application for nonresident business entities.
"Uniform Application" means the current version of the National Association
of Insurance Commissioners' Uniform
nonresident producer licensing.
"Vehicle" or "rental vehicle" means a motor vehicle of (1) the private
type, including passenger vans, mini vans, and sport utility vehicles or (2)
the cargo type,
including cargo vans, pickup trucks, and trucks with a gross vehicle
weight of less than
26,000 pounds the operation of which does not require the operator to possess a
"Webinar" means an online educational presentation during which a live and participating instructor and participating viewers, whose attendance is periodically verified throughout the presentation, actively engage in discussion and in the submission and answering of questions.
(Source: P.A. 97-113, eff. 7-14-11; 98-1165, eff. 6-1-15