Illinois General Assembly - Illinois Compiled Statutes

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215 ILCS 152/25

(215 ILCS 152/25)

Sec. 25.

Registration requirements for service
contract providers.

(a) No service contract shall be issued or sold in this State until the
following information has
been submitted to the Department:

(1) the name of the service contract provider;

(2) a list identifying the service contract

provider's executive officer or officers directly responsible for the service contract provider's service contract business;

(3) the name and address of the service contract

provider's agent for service of process in this State, if other than the service contract provider;

(4) a true and accurate copy of all service contracts

to be sold in this State; and

(5) a statement indicating under which provision of

Section 15 the service contract provider qualifies to do business in this State as a service contract provider.

(b) The service contract provider shall pay an initial registration fee of
$1,000 and a renewal
fee of $150 each year thereafter.  All fees and penalties collected
under this
Act shall be paid
to the Director and deposited in the Insurance Financial Regulation Fund.

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