Exams / Illinois Life Insurance Producer License / 215 ILCS 5/531.19
215 ILCS 5/531.19 — what it says, and how the exam tests it
This section is cited by 4 of our practice questions and is tested on 5 exams including the Illinois Life Insurance Producer License.
The text
215 ILCS 5/531.19. (from Ch. 73, par. 1065.80-19) Sec. 531.19. Prohibited advertisement of action of the Insurance Guaranty Association in sale of insurance. (a) No person, including a member insurer, agent or affiliate of a member insurer shall make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated or placed before the public, in any newspaper, magazine or other publication, or in the form of a notice, circular, pamphlet, letter or poster, or over any radio station or television station, or in any other way, any advertisement, announcement or statement, written or oral, which uses the existence of the Insurance Guaranty Association of this State for the purpose of sales, solicitation or inducement to purchase any form of insurance or other coverage covered by this Article; provided, however, that this Section shall not apply to the Illinois Life and Health Guaranty Association or any other entity which does not sell or solicit insurance or coverage by a health maintenance organization. (b) Within 180 days of August 16, 1993, the Association shall prepare a summary document describing the general purposes and current limitations of this Article and complying with subsection (c). This document shall be submitted to the Director for approval. Sixty days after receiving approval, no member insurer may deliver a policy or contract described in subparagraph (a) of paragraph (2) of Section 531.03 and not excluded under subparagraph (b) of that Section to a policy owner, contract owner, certificate holder, or enrollee unless the document is delivered to the policy owner, contract owner, certificate holder, or enrollee prior to or at the time of delivery of the policy or contract. The document should also be available upon request by a policy owner, contract owner, certificate holder, or enrollee. The distribution, delivery, or contents or interpretation of this document shall not mean that either the policy or the contract or the policy owner, contract owner, certificate holder, or enrollee thereof would be covered in the event of the impairment or insolvency of a member insurer. The description document shall be revised by the Association as amendments to this Article may require. Failure to receive this document does not give the policy owner, contract owner, certificate…
Public record. Read the full, current section at the official source: www.ilga.gov
How it comes up on the exam
Practice questions written from this section — answers and explanations are in the drill.
- Under Section 531.19(b), within how many days of receiving approval from the Director must the Association's summary document be delivered with new policies?
drill Illinois Statutes and Regulations Pertinent to Life Insurance Only → - Under Section 531.19, a member insurer is prohibited from using the existence of the Insurance Guaranty Association for which purpose?
drill Illinois Statutes and Regulations Pertinent to Life Insurance Only → - Under Section 531.19, within how many days after receiving the Director's approval of the summary document must member insurers begin delivering it to policy owners?
drill Illinois Statutes and Regulations Pertinent to Life Insurance Only →
Exams that test this section
- Illinois Life Insurance Producer License — free practice test
- Illinois Accident and Health Insurance Producer License — free practice test
- Illinois Property Insurance Producer License — free practice test
- Illinois Casualty Insurance Producer License — free practice test
- Illinois Personal Lines Insurance Producer License — free practice test