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Code · Illinois · Chapter 205 — FINANCIAL REGULATION · Act 635

Sec. 5-15. Prohibition on financing certain insurance premiums.

54 words·~1 min read·/il/chapter-205/act-635/5-15

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Sec. 5-15. Prohibition on financing certain insurance premiums. No licensee may make, provide, or arrange for a residential mortgage loan that finances, directly or indirectly, any credit life, credit disability, or credit unemployment insurance; however, insurance premiums calculated and paid on a monthly basis shall not be considered to be financed by the lender.
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