Aarco American, Inc. v. Baylor

Mr. PRESIDING JUSTICE ADESKO

delivered the opinion of the court:

The Illinois Director of Insurance filed charges of fraud, dishonesty and wilful violation of the Insurance Code to determine if grounds exist for revoking the licenses of Aarco American, Inc., Fairway Acceptance Corporation and Raymond M. Lavelle.

Aarco was charged with false advertising regarding its powers to represent its customers with' insurance carriers; misleading advertising with respect to the accumulation of cash values in whole life insurance policies it sold; with iUegally assessing service charges for late payments…