ILCS » Chapter 215 · Act 5
Illinois Compiled Statutes

215 ILCS 5/245.24 (2026)

Notwithstanding any other provision of law, the Director has sole authority to regulate the issuance and sale of variable contracts, and to promulgate such reasonable rules and regulations as may be appropriate to carry out the purposes and provisions of this Article

✓ current as of May 2026
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(215 ILCS 5/245.24) (from Ch. 73, par. 857.24)
    Sec. 245.24. Notwithstanding any other provision of law, the Director has sole authority to regulate the issuance and sale of variable contracts, and to promulgate such reasonable rules and regulations as may be appropriate to carry out the purposes and provisions of this Article.
(Source: P.A. 77-1572.)

    
Notes of Decisions
Cited in 4 cases, 2016–2019 · leading case: Van Dyke v. White, 2019 IL 121452 (Ill. 2019).
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Van Dyke v. White, 2019 IL 121452 (Ill. 2019). · cites it 3× “See 215 ILCS 5/245.24 (West 2012). The court also explained that it would make little sense for the legislature to place variable annuities out of the reach of the Securities Department but then subject annuity products such as indexed annuities to securities regulation.”
Van Dyke v. White, 2019 IL 121452 (Ill. 2019). “) 215 ILCS 5/245.24 (West 2012). Section 245.”
Van Dyke v. White, 2016 IL App (4th) 141109 (Ill. App. Ct. 2016). “See 215 ILCS 5/245.24 (West 2012). It would make little sense for the legislature to place variable annuities out of the reach of the Securities Department but then subject annuity products such as indexed annuities to securities regulation.”
Van Dyke v. White, 2016 IL App (4th) 141109 (Ill. App. Ct. 2016). “See 215 ILCS 5/245.24 (West 2012). It would make little sense for the legislature to place variable annuities out of the reach of the Securities Department but then subject annuity products such as indexed annuities to securities regulation.”
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