(215 ILCS 5/155.61) (from Ch. 73, par. 767.61)
Sec. 155.61.
Existing insurance-Choice of insurer.
When credit life insurance or credit accident and health insurance is
required as additional security for any indebtedness, the debtor shall,
upon request to the creditor, have the option of furnishing the required
amount of insurance through existing policies of insurance owned or
controlled by him or of procuring and furnishing the required coverage
through any insurer authorized to transact an insurance business within
this state.
(Source: Laws 1959, p. 1140.)
|