Illinois Compiled Statutes 215 ILCS 5/179a – Managing general agent prohibition
Current as of: 2024 | Check for updates
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(a) No managing general agent, as defined in Section 141a, shall receive any compensation or remuneration for, or in any manner profit from, obtaining or arranging reinsurance for a domestic company with respect to business underwritten by that managing general agent.
(b) Any person violating the provisions of this Section is guilty of a Class A misdemeanor.
(b) Any person violating the provisions of this Section is guilty of a Class A misdemeanor.
Attorney's Note
Under the Illinois Statutes, punishments for crimes depend on the classification. In the case of this section:Class | Prison | Fine |
---|---|---|
Class A misdemeanor | up to 1 year | up to $2,500 |