(215 ILCS 5/143.27) (from Ch. 73, par. 755.27)
Sec. 143.27.
No insurance company may give to any named insured any notice
of cancellation or nonrenewal of a policy of fire and extended coverage
insurance, as defined in subsection (b) of Section 143.13, covering property
which is capable of being rehabilitated, without allowing the named insured
a reasonable period of time in which to repair defects in the insured property
or relevant portion thereof, to an extent reasonably sufficient to facilitate
continued coverage thereon. The time reasonably allowable therefor (which
in no event shall exceed ninety days) and the degree of sufficiency of such
rehabilitative efforts which insurance companies shall accept, may be determined
by a certificate from a licensed contractor or architect and such rehabilitative
efforts shall be in compliance with local municipal building codes. The
notice of need for repair shall be from the insurance company, which may
be sent to the insured at any time during the policy term, and which notice
shall commence the time period established under this Section.
(Source: P.A. 81-857.)
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