(215 ILCS 5/179) (from Ch. 73, par. 791)
Sec. 179.
Payment of
fees to officer or director prohibited.
(1) No director or officer of any company, party to a reinsurance
agreement, except as fully expressed in the reinsurance agreement, shall
receive any fee, commission, other compensation or valuable consideration
whatever, directly or indirectly, for in any manner aiding, promoting or
assisting in the negotiation of such reinsurance agreement.
(2) Any person violating the provisions of this section shall be guilty
of a Class A misdemeanor.
(Source: P.A. 77-2699.)
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