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Code · Illinois · Chapter 815 — BUSINESS TRANSACTIONS · Act 137

Sec. 40. Pre-paid insurance products and warranties.

60 words·~1 min read·/il/chapter-815/act-137/40

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Sec. 40. Pre-paid insurance products and warranties. No lender shall transfer, deal in, offer, or make a high risk home loan that finances a single premium credit life, credit disability, credit unemployment, or any other life or health insurance, directly or indirectly. Insurance calculated and paid on a monthly basis shall not be considered to be financed by the lender.
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