205 ILCS 635/5-15

Current through Public Act 103-593
Section 205 ILCS 635/5-15 - Prohibition on Financing Certain Insurance Premiums

No licensee may make, provide, or arrange for a residential mortgage loan that finances, directly or indirectly, any credit life, credit disability, or credit unemployment insurance; however, insurance premiums calculated and paid on a monthly basis shall not be considered to be financed by the lender.

205 ILCS 635/5-15

Added by P.A. 095-0691,§ 10, eff. 6/1/2008.