(215 ILCS 5/370) (from Ch. 73, par. 982)
Sec. 370.
Policies
issued in violation of article-Penalty.
(1) Any company, or any officer or agent thereof, issuing or delivering
to any person in this State any policy in wilful violation of the provision
of this article shall be guilty of a petty offense.
(2) The Director may revoke the license of any foreign or alien company,
or of the agent thereof wilfully violating any provision of this article or
suspend such license for any period of time up to, but not to exceed, two
years; or may by order require such insurance company or agent to pay to
the people of the State of Illinois a penalty in a sum not exceeding $1,000,
and upon the failure of such insurance company or agent to
pay such penalty within twenty days after the mailing of such order,
postage prepaid, registered, and addressed to the last known place of
business of such insurance company or agent, unless such order is stayed by
an order of a court of competent jurisdiction, the Director of Insurance
may revoke or suspend the license of such insurance company or agent for
any period of time up to, but not exceeding a period of, two years.
(Source: P.A. 93-32, eff. 7-1-03.)
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