Illinois Compiled Statutes 215 ILCS 159/17 – License revocation and denial for viatical settlement brokers
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Terms Used In Illinois Compiled Statutes 215 ILCS 159/17
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Insurance producers operating as viatical settlement brokers shall be subject to the license denial, nonrenewal, and revocation provisions established by § 500-70 of the Illinois Insurance Code, in addition to any monetary or criminal penalties as may be appropriate.