IL HB3244

Adds Section 513a13 to the Illinois Insurance Code to authorize electronic delivery of notices and documents in premium finance agreements.

Electronic delivery includes email to a consented address or posting on an internet-accessible network/site with separate email notification of the posting.

Electronic delivery is equivalent to first-class mail delivery and must comply with the Electronic Commerce Security Act.

Premium finance companies must obtain affirmative consent before electronic delivery and must inform parties of their right to withdraw consent, types of documents covered, right to paper delivery, and procedures to update contact information.

Parties must electronically confirm they can access the electronic form before delivery begins, and companies must provide updated hardware/software requirements if material changes occur; takes effect January 1, 2018.