Sec. 40. Insurer or service carrier audit.
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/il/chapter-215/act-113/40A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 40. Insurer or service carrier audit. Insurers shall audit policies issued through the residual market pursuant to Section 30 of this Act within 90 days of the policy effective date and may conduct quarterly audits thereafter. Insurers may audit policies issued through the voluntary market within 90 days of the policy effective date and shall conduct audits during the normal course of business thereafter.