Illinois § 5-50
Full text of Illinois Illinois Compiled Statutes § 5-50, with citation guidance and answers to common questions.
§ 5-50.
Insurance. (a) All applicants for a home inspector license and all licensees shall maintain general liability insurance in an amount of not less than $100,000. (b) Failure of an applicant or a licensee to carry and maintain the insurance required by this Section, to timely submit proof of coverage upon the Department's request, or to timely report any claims made against such policies of insurance shall be grounds for the denial of an application to renew a license, or the suspension or revocation of the license. (c) The policies of insurance submitted by an applicant for a new license or an applicant for renewal of a license must include the name of the applicant as it appears or will appear on the license. (d) A home inspector shall maintain the insurance required by this Section for at least one year after the latest home inspection report the home inspector delivered. (e) The Department may adopt rules to implement this Section. (Source: P.A. 102-20, eff. 1-1-22.)
Frequently Asked Questions About Illinois § 5-50
What does Illinois Compiled Statutes § 5-50 cover?
Section 5-50 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 5-50?
A common citation format is "Illinois Compiled Statutes § 5-50" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 5-50 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.