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1 | AN ACT concerning regulation.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Insurance Code is amended by | |||||||||||||||||||
5 | changing Section 500-100 as follows:
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6 | (215 ILCS 5/500-100)
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7 | Sec. 500-100. Limited lines producer license.
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8 | (a) An individual who is at least 18 years of age and whom | |||||||||||||||||||
9 | the Director
considers to
be competent, trustworthy, and of | |||||||||||||||||||
10 | good business reputation may obtain a limited
lines producer
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11 | license for one or more of the following classes:
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12 | (1) insurance on baggage or limited travel health, | |||||||||||||||||||
13 | accident, or trip
cancellation
insurance sold in | |||||||||||||||||||
14 | connection with transportation provided by a common | |||||||||||||||||||
15 | carrier;
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16 | (2) industrial life insurance, as defined in Section | |||||||||||||||||||
17 | 228 of this Code;
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18 | (3) industrial accident and health insurance, as | |||||||||||||||||||
19 | defined in
Section 368 of this
Code;
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20 | (4) insurance issued by a company organized under the | |||||||||||||||||||
21 | Farm Mutual
Insurance Company Act of 1986;
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22 | (5) legal expense insurance;
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23 | (6) enrollment of recipients of public aid or medicare |
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1 | in a health
maintenance
organization;
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2 | (7) a limited health care plan issued by an | ||||||
3 | organization having a
certificate of
authority under the | ||||||
4 | Limited Health Service Organization Act ; or .
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5 | (8) credit insurance as defined in Section 15a of the | ||||||
6 | Consumer Installment Loan Act. | ||||||
7 | (b) The application for a limited lines producer license | ||||||
8 | must be submitted
on a form
prescribed by the Director by a | ||||||
9 | designee of the insurance company, health
maintenance
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10 | organization, or limited health service organization | ||||||
11 | appointing the limited
insurance
representative. The insurance | ||||||
12 | company, health maintenance organization, or
limited health
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13 | service organization must pay the fee required by Section | ||||||
14 | 500-135.
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15 | (c) A limited lines producer may represent more than one | ||||||
16 | insurance company,
health
maintenance organization, or limited | ||||||
17 | health service organization.
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18 | (d) An applicant who has met the requirements of this | ||||||
19 | Section shall be
issued a
perpetual limited lines producer | ||||||
20 | license.
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21 | (e) A limited lines producer license shall remain in effect | ||||||
22 | as long as the
appointing
insurance company pays the respective | ||||||
23 | fee required by Section 500-135 prior to
January 1 of
each | ||||||
24 | year, unless the license is revoked or suspended pursuant to
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25 | Section 500-70. Failure of the
insurance company to pay the | ||||||
26 | license fee or to submit the required documents
shall cause
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1 | immediate termination of the limited line insurance producer | ||||||
2 | license with
respect to which the
failure occurs.
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3 | (f) A limited lines producer license may be terminated by | ||||||
4 | the insurance
company or
the licensee.
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5 | (g) A person whom the Director considers to be competent, | ||||||
6 | trustworthy, and
of
good
business reputation may be issued a | ||||||
7 | car rental limited line license. A car
rental limited line
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8 | license for a rental company shall remain in effect as long as | ||||||
9 | the car rental
limited line licensee
pays the respective fee | ||||||
10 | required by Section 500-135 prior to the next fee date
unless | ||||||
11 | the car rental
license is revoked or suspended pursuant to | ||||||
12 | Section 500-70. Failure of the car
rental limited line
licensee | ||||||
13 | to pay the license fee or to submit the required documents | ||||||
14 | shall cause
immediate
suspension of the car rental limited line | ||||||
15 | license. A car rental limited line
license for rental
companies | ||||||
16 | may be voluntarily
terminated by the car rental limited line | ||||||
17 | licensee. The license fee
shall not be refunded upon | ||||||
18 | termination of the car rental limited line license
by the car | ||||||
19 | rental
limited line licensee.
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20 | (h) A limited lines producer issued a license pursuant to | ||||||
21 | this Section is
not
subject to
the requirements of Section | ||||||
22 | 500-30.
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23 | (i) A limited lines producer license must contain the name, | ||||||
24 | address and
personal
identification number of the licensee, the | ||||||
25 | date the license was issued,
general conditions relative
to the | ||||||
26 | license's expiration or termination, and any other information |
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1 | the
Director considers
proper. A limited line producer license, | ||||||
2 | if applicable, must also contain the
name and address of
the | ||||||
3 | appointing insurance company.
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4 | (Source: P.A. 92-386, eff. 1-1-02.)
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