Illinois Compiled Statutes 215 Insurance: Article XVII - Fraternal Benefit Societies
- Illinois Insurance Code. - 215 ILCS 5, Section 282.1
Fraternal Benefit Societies. Any incorporated society, order or supreme lodge without capital stock, including one exempted under the provisions of Section 315.5(a) of this...
- Illinois Insurance Code. - 215 ILCS 5, Section 283.1
Lodge System. (a) A society is operating on the lodge system if it has a supreme governing body and subordinate lodges into which members...
- Illinois Insurance Code. - 215 ILCS 5, Section 284.1
Representative Form of Government. A society has a representative form of government when: (a) It has a supreme governing body constituted in one of...
- Illinois Insurance Code. - 215 ILCS 5, Section 285.1
Definitions. Whenever used in this amendatory Act: (a) "Benefit contract" shall mean the agreement for provision of benefits authorized by Section 297.1 of this...
- Illinois Insurance Code. - 215 ILCS 5, Section 286.1
Purposes and Powers. (a) A society shall operate for the benefit of members and their beneficiaries by: (1) Providing benefits as specified in Section 297.1...
- Illinois Insurance Code. - 215 ILCS 5, Section 287.1
Qualifications for Membership. (a) A society shall specify in its laws or rules: (1) Eligibility standards for each and every class of membership, provided...
- Illinois Insurance Code. - 215 ILCS 5, Section 288.1
Location of Office, Meetings, Communications to Members, Grievance Procedures. (a) The principal office and place of business of any domestic society shall be located...
- Illinois Insurance Code. - 215 ILCS 5, Section 289.1
Personal Liability. (a) The officers and members of the supreme governing body or any subordinate body of a society shall not be personally liable...
- Illinois Insurance Code. - 215 ILCS 5, Section 290.1
Waiver. The laws of the society may provide that no subordinate body, nor any of its subordinate officers or members, shall have the power...
- Illinois Insurance Code. - 215 ILCS 5, Section 291.1
Organization. A domestic society organized on or after the effective date of this amendatory Act shall be formed as follows: (a) Seven or more citizens...
- Illinois Insurance Code. - 215 ILCS 5, Section 292.1
Amendments to Laws. (a) A domestic society may amend its laws in accordance with the provisions thereof by action of its supreme governing body...
- Illinois Insurance Code. - 215 ILCS 5, Section 293.1
Institutions. A society may create, maintain and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by...
- Illinois Insurance Code. - 215 ILCS 5, Section 294.1
Reinsurance. (a) A domestic society may enter into reinsurance transactions only in accordance with Article XI of this Code. (b) A domestic society may reinsure...
- Illinois Insurance Code. - 215 ILCS 5, Section 295.1
Consolidations and Mergers. A domestic society may enter into agreements of consolidation or merger only in accordance with Article X of this Code. (Source:...
- Illinois Insurance Code. - 215 ILCS 5, Section 295.2
Maintenance of solvency. (a) In the event a domestic society has an authorized control level event described in Section 35A-25 of this Code under circumstances...
- Illinois Insurance Code. - 215 ILCS 5, Section 296.1
Conversion of Fraternal Benefit Society to Mutual Life Insurance Company. (a) Any society subject to the provisions of this amendatory Act possessed of admitted...
- Illinois Insurance Code. - 215 ILCS 5, Section 297.1
Benefits. (a) A society may provide the following contractual benefits in any form: (1) Death benefits; (2) Endowment benefits; (3) Annuity benefits; (4) Temporary or...
- Illinois Insurance Code. - 215 ILCS 5, Section 298.1
Beneficiaries. (a) The owner of a benefit contract shall have the right at all times to change the beneficiary or beneficiaries in accordance with...
- Illinois Insurance Code. - 215 ILCS 5, Section 299.1a
Benefits not Attachable. (a) No money or other charity, relief or aid to be paid, provided or rendered by any society shall be liable to...
- Illinois Insurance Code. - 215 ILCS 5, Section 299.1b
Data exchanges; administrative liens. (a) Any benefit association doing business in the State and governed by this Code shall enter into an agreement for data...
- Illinois Insurance Code. - 215 ILCS 5, Section 300.1
The Benefit Contract. (a) Every society authorized to do business in this State shall issue to each owner of a benefit contract a certificate specifying...
- Illinois Insurance Code. - 215 ILCS 5, Section 301.1
Nonforfeiture Benefits, Cash Surrender Values, Certificate Loans and Other Options. (a) For certificates issued prior to one year after the effective date of this...
- Illinois Insurance Code. - 215 ILCS 5, Section 302.1
Investments and Admitted Assets. A domestic society shall invest its funds only in such investments as are authorized by the laws of this State...
- Illinois Insurance Code. - 215 ILCS 5, Section 303.1
Funds. (a) All assets shall be held, invested and disbursed for the use and benefit of the society, and no member or beneficiary shall...
- Illinois Insurance Code. - 215 ILCS 5, Section 304.2
Taxation. Every society organized or licensed under this amendatory Act is hereby declared to be a charitable and benevolent institution, and all of its...
- Illinois Insurance Code. - 215 ILCS 5, Section 305.1
Valuation. (a) Standards of valuation for certificates issued prior to one year after the effective date of this amendatory Act shall be those provided...
- Illinois Insurance Code. - 215 ILCS 5, Section 306.1
Reports. Every society transacting business in this State shall annually, on or before the first day of March, unless for cause shown such time...
- Illinois Insurance Code. - 215 ILCS 5, Section 307.1
Annual License. Societies which were authorized to transact business in this State prior to the effective date of this amendatory Act may continue such...
- Illinois Insurance Code. - 215 ILCS 5, Section 308.1
Examination of Societies - Adverse Publications. (a) The Director, or any person he or she may appoint, may examine any domestic, foreign or alien...
- Illinois Insurance Code. - 215 ILCS 5, Section 309.1
Foreign or Alien Society - Admission. No foreign or alien society shall transact business in this State without a certificate of authority issued by...
- Illinois Insurance Code. - 215 ILCS 5, Section 310.1
Suspension, Revocation or Refusal to Renew Certificate of Authority. (a) Domestic Societies. When, upon investigation, the Director is satisfied that any domestic society transacting...
- Illinois Insurance Code. - 215 ILCS 5, Section 311.1
Injunction Proceedings. (a) Upon the refusal or neglect of any society to make the annual report, as provided in this amendatory Act, or in...
- Illinois Insurance Code. - 215 ILCS 5, Section 312.1
Salaries. No domestic society shall pay any salary, compensation or emolument to any officer, trustee or director thereof, nor any salary, compensation or emolument...
- Illinois Insurance Code. - 215 ILCS 5, Section 313.1
Licensing of Producers. (a) Except as otherwise provided in this Section, producers of societies shall be subject to the provisions of Article XXXI of...
- Illinois Insurance Code. - 215 ILCS 5, Section 314.1
Unfair Methods of Competition and Unfair and Deceptive Acts and Practices. Every society authorized to do business in this State shall be subject to...
- Illinois Insurance Code. - 215 ILCS 5, Section 315.2
Service of Process. (a) Every society authorized to do business in this State shall appoint in writing the Director and each successor in office...
- Illinois Insurance Code. - 215 ILCS 5, Section 315.3
Review. The provisions of the Administrative Review Law, and all amendments and modifications thereof, and the rules adopted pursuant thereto shall apply to and...
- Illinois Insurance Code. - 215 ILCS 5, Section 315.4
Penalties. (a) Any person who willfully makes a false or fraudulent statement in or relating to an application for membership or for the purpose...
- Illinois Insurance Code. - 215 ILCS 5, Section 315.5
Exemption of Certain Societies. (a) Nothing contained in this amendatory Act shall be so construed as to affect or apply to: (1) grand or...
- Illinois Insurance Code. - 215 ILCS 5, Section 315.6
Application of other Code provisions. Unless otherwise provided in this amendatory Act, every fraternal benefit society shall be governed by this amendatory Act and shall...
- Illinois Insurance Code. - 215 ILCS 5, Section 315.7
Severability. If any provision of this amendatory Act or the application of such provision to any circumstance is held invalid, the remainder of the...
- Illinois Insurance Code. - 215 ILCS 5, Section 315.9
Voluntary dissolution. Upon application to the Director, a domestic society may request that it be dissolved and that its existence be terminated. The application shall...
Last modified: February 18, 2015