Ill. Admin. Code tit. 38 § 1050.1260

Current through Register Vol. 48, No. 50, December 13, 2024

Section 1050.1260 - Pre-paid Insurance Products and Warranties

No lender shall make a high risk home loan that finances a single premium credit life, credit disability, credit unemployment or any other life or health insurance, directly or indirectly. Insurance calculated and paid on a monthly basis shall not be considered to be financed by the lender.

Ill. Admin. Code tit. 38, § 1050.1260

Amended at 29 Ill. Reg. 14808, effective September 26, 2005