House Sponsors: BRADLEY-PARKE-MAUTINO. Short description: INS PRODUCER COMMISSIONS Synopsis of Bill as introduced: Amends the Illinois Insurance Code in relation to producer compensation that is not deductible from premiums. Provides that records regarding notice of certain fees must be retained for 3 years rather than indefinitely. Provides that when a contract or policy is cancelled, the amount to be refunded to a customer shall be calculated on a pro-rated basis for the remaining time the policy will be in force limited to a maximum of 90 days. Provides that if a fee disclosure to the consumer documents that the producer performed a service corresponding to the policy and provides that the fee was fully earned, the fee is fully earned at the inception of the disclosure statement's execution. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status