State RegulationsIL specificDifficulty 2/5
The Director of Insurance requests proof of a producer's surety bond. Under 215 ILCS 5/500-130, within what period must the producer produce the surety information?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under 215 ILCS 5/500-130, a producer subject to the bonding requirement must produce surety information within 3 working days of a request from the Director of Insurance. The short window lets the Illinois Department of Insurance verify promptly that public protection is in place for placements made without an agency contract, so producers should keep bond details current and accessible.
Why the other options are wrong
- A) 90 days is the accident and health proof-of-loss window, a claims deadline, not the bond-production period.
- C) 10 business days is the continuing-education compliance lead time before renewal under Illinois Department of Insurance procedures, not the bond-response period.
- D) 15 working days is a claim-acknowledgment-style timeframe, not the surety-production deadline in 215 ILCS 5/500-130.
Memory hook
Three working days to show the surety.