215 ILCS 5/ Illinois Insurance Code.

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215 ILCS 5/525.2

(215 ILCS 5/525.2) (from Ch. 73, par. 1065.72-2)

Sec. 525.2.

Premium financing.

In the event the Industry Placement Facility accepts premium payments
from licensed premium financing companies and whenever a financed FAIR Plan
insurance contract is cancelled in accordance with Section 521 of the
Illinois Insurance Code, the insurer or Industry Placement Facility shall
return whatever gross unearned premium is due under the insurance contract
to the premium finance company effecting the cancellation for the account
of the insured or insureds less the proportionate amount of the commissions
paid by it to the producers of such FAIR Plan risk, prorated as to the
unearned portion of the premium, which amount such producers shall return
to the premium finance company. In the event of cancellation as set forth
above the Industry Placement Facility may deduct and retain from the return
premium a reasonable amount as a service charge.

(Source: P.A. 77-1561.)

215 ILCS 5/525.3

(215 ILCS 5/525.3) (from Ch. 73, par. 1065.72-3)

Sec. 525.3.

Approval of Rates.

In the event that the Industry Placement
Facility proposes to issue policies of insurance or endorsements thereto
pursuant to subsection (1) of Section 525.1, the Facility shall file for
approval with the Director the proposed rates and supplemental rate information
to be used in connection with the issuance of such policies or endorsements.
Within 60 days of the filing of the proposed rates, the Director shall enter
an order either approving or disapproving, in whole or in part, the rate
plan filed.  The Director may, upon notice to the Industry Placement Facility,
extend the period for entering an order under this Section an additional
30 days.  No such policies or endorsements shall be issued until such time
as the Director approves the rates to be applied to the policy or endorsement.
An order disapproving a rate shall state the grounds for the disapproval
and the findings in support thereof.

(Source: P.A. 81-1426.)