Illinois Compiled Statutes 215 Insurance: Article III - Domestic Mutual Companies
- Illinois Insurance Code. - 215 ILCS 5, Section 36
Scope of article. This article shall apply to all domestic mutual companies transacting or being organized to transact any of the kinds of business...
- Illinois Insurance Code. - 215 ILCS 5, Section 37
Name. The corporate name of any company organized under this article shall contain the word "Mutual" and shall not be the same as, or...
- Illinois Insurance Code. - 215 ILCS 5, Section 38
Principal office and place of business. The principal office of any company organized under this article shall be located in this State. Unless the...
- Illinois Insurance Code. - 215 ILCS 5, Section 39
Authorized kinds of business. (1) Companies may be organized under this article either for the purpose of transacting any of the kind or kinds...
- Illinois Insurance Code. - 215 ILCS 5, Section 40
Directors or trustees. (1) After the date of incorporation, as determined by Section 48, and until the first meeting of the members, the incorporators...
- Illinois Insurance Code. - 215 ILCS 5, Section 41
Executive committee. If the by-laws so provide, the board of directors or trustees, by a resolution adopted by a majority of the whole board,...
- Illinois Insurance Code. - 215 ILCS 5, Section 42
By-laws. (1) The incorporators shall adopt by-laws for the company which shall not be altered, amended, or repealed prior to the issuance of a...
- Illinois Insurance Code. - 215 ILCS 5, Section 43
Minimum surplus requirements. (1) No company organized after December 31, 1985 under this Article may receive a certificate of authority from the Director to...
- Illinois Insurance Code. - 215 ILCS 5, Section 44
Articles of incorporation. Any one or more natural persons, at least one of whom is a resident of Illinois, who desire to form a...
- Illinois Insurance Code. - 215 ILCS 5, Section 45
Documents to be delivered to director by incorporators. Upon the execution of the articles of incorporation, there shall be delivered to the Director (a)...
- Illinois Insurance Code. - 215 ILCS 5, Section 45.1
Escrow Agreements. The company shall designate a bank or trust company with whom it will enter into an escrow agreement, which agreement shall state...
- Illinois Insurance Code. - 215 ILCS 5, Section 46
Organization bonds. The incorporators shall deliver to the Director two bonds in the same penalties and containing the same provisions, so far as applicable,...
- Illinois Insurance Code. - 215 ILCS 5, Section 47
Publication of intention. (1) Upon compliance with the provisions of section 45, the incorporators shall cause to be published in a newspaper of general...
- Illinois Insurance Code. - 215 ILCS 5, Section 48
Approval of documents. The documents and papers so delivered to the Director may be approved or disapproved by the Director and the incorporators are...
- Illinois Insurance Code. - 215 ILCS 5, Section 49
Recording of articles of incorporation. The duplicate original of the articles of incorporation returned by the Director shall be filed for record, within 15...
- Illinois Insurance Code. - 215 ILCS 5, Section 50
Authority to solicit subscriptions to surplus. (1) Upon the approval of the articles of incorporation by the Director he shall issue to the company...
- Illinois Insurance Code. - 215 ILCS 5, Section 51
Issuance of certificate of authority. When the Director has been notified that the company has the required surplus as set forth in Section 43...
- Illinois Insurance Code. - 215 ILCS 5, Section 52
Voluntary surrender of articles of incorporation. At any time prior to the issuance of the certificate of authority to the company the articles of...
- Illinois Insurance Code. - 215 ILCS 5, Section 53
Deposit. (a) A company subject to the provisions of this Article shall make and maintain with the Director for the protection of all creditors, policyholders...
- Illinois Insurance Code. - 215 ILCS 5, Section 54
Dividends. (1) The board of directors or trustees of any company subject to the provisions of this article doing the kind or kinds of...
- Illinois Insurance Code. - 215 ILCS 5, Section 55
Contingent liability policy provisions. In cases where contingent liability of members is provided for, the provision therefor shall be plainly stated in each policy...
- Illinois Insurance Code. - 215 ILCS 5, Section 56
Accumulation of guaranty fund or guaranty capital. Any company subject to the provisions of this article, may provide for a surplus either by accumulating...
- Illinois Insurance Code. - 215 ILCS 5, Section 57
Amendment of articles of incorporation. (1) A company subject to the provisions of this Article may amend its articles of incorporation in any respect...
- Illinois Insurance Code. - 215 ILCS 5, Section 58
Governmental agencies and corporations may be members. Any government or governmental agency, state or political subdivision thereof, public or private corporation, board, association, estate,...
- Illinois Insurance Code. - 215 ILCS 5, Section 59
Reinsurance agreements. Unless the contract provides otherwise any reinsurance agreement effected by any company subject to the provisions of this article upon the whole...
- Illinois Insurance Code. - 215 ILCS 5, Section 59.1
Conversion to stock company. (1) Definitions. For the purposes of this Section, the following terms shall have the meanings indicated: (a) "Eligible member" is a...
- Illinois Insurance Code. - 215 ILCS 5, Section 59.2
Formation of mutual insurance holding company and conversion of mutual company to stock company. (1) Definitions. For the purposes of this Section, the following...
- Illinois Insurance Code. - 215 ILCS 5, Section 60
Procedure When Insufficient Assets are Possessed by Company. (1) Whenever the Director finds that the admitted assets of a company subject to the provisions...
Last modified: February 18, 2015