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Code · Illinois · Chapter 215 — INSURANCE · Act 5

Sec. 1407. Rebating and discounting.

60 words·~1 min read·/il/chapter-215/act-5/1407

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Sec. 1407. Rebating and discounting.
(a)No financial institution may offer a rebate on an insurance product in violation of Section 151 of this Code.
(b)No financial institution may offer a discount on a loan or extension of credit for the purpose of inducing the customer to purchase insurance required in connection with the loan or extension of credit.
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