(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;

Terms Used In Illinois Compiled Statutes 215 ILCS 152/25

  • Contract: A legal written agreement that becomes binding when signed.
  • Service of process: The service of writs or summonses to the appropriate party.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14

        (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.
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