Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

215 ILCS 5/1020

(215 ILCS 5/1020) (from Ch. 73, par. 1065.720)

Sec. 1020.

Penalties.

(A) In any case where a hearing pursuant to Section
1016 results in the finding of a knowing violation of  this Article, the
Director may, in addition to the issuance of a cease and desist order as
prescribed in Section 1018, order payment of a monetary penalty of not more
than $1,000 for each violation but not to exceed $20,000 in the aggregate
for multiple violations.

(B) Any person who violates a cease and desist order of the Director under
Section 1018 of this Article may, after notice and hearing and upon order
of the Director, be subject to one or more of the following penalties, at
the discretion of the Director:

(1) a monetary fine of not more than $20,000 for each

violation,

(2) a monetary fine of not more than $100,000 if the

Director finds that violations have occurred with such frequency as to constitute a general business practice, or

(3) suspension or revocation of an insurance

institution's or agent's license.

(Source: P.A. 93-32, eff. 7-1-03.)