State RegulationsIL specificDifficulty 2/5
An Illinois producer misses the renewal date and applies to renew after the license has expired. Under 215 ILCS 5/500-135, what late-renewal penalty applies?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under 215 ILCS 5/500-135, renewing after the license has expired triggers a late-renewal penalty equal to double the unpaid license fee. The Illinois Department of Insurance also cautions that an expired license cannot simply be renewed through the electronic licensing channel as if it were on time, so producers must watch the birth-month renewal date every 2 years and renew before expiration.
Why the other options are wrong
- A) $50 is the temporary producer license fee under 215 ILCS 5/500-135; it is not the late-renewal penalty.
- B) A no-penalty renewal is wrong: the statute imposes double the unpaid fee when the renewal comes late.
- D) $1,000 is the annual registration fee for continuing-education providers under 215 ILCS 5/500-135, unrelated to late renewal.
Memory hook
Miss your month, pay double.