(215 ILCS 5/1407)
Rebating and discounting.
(a) No financial institution may offer a rebate on
an insurance product in violation of Section 151 of this
(b) No financial institution may offer a discount on a loan or extension of
credit for the purpose of inducing the customer to purchase insurance required
in connection with the loan or extension of credit.
(Source: P.A. 90-41, eff. 10-1-97.)