Insurance Companies Originating Payday Loans

Section 902.40  Insurance Companies Originating Payday Loans All insurance companies offering payday loans, as that term is defined in Section 902.30 of this Part, including any insurance products and/or services that constitute a payday loan, as defined in Section 902.30 of this Part, must offer such products and/or services in a manner consistent with the Act.  Insurance companies shall ensure that any payday loan products and/or services are offered in a manner that will not jeopardize the insurance company's financial solvency pursuant to Article IIA of the Code [215 ILCS 5/Art. IIA].