Illinois Compiled Statutes 215 Insurance: Article -

• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 1
  Short title. This Act may be cited as the Producer Controlled Insurer Act. (Source: P.A. 87-1090.)
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 5
  Definitions. As used in this Act, the terms defined in the Sections that follow this Section and precede Section 6 have the meanings set...
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 5.05
  Accredited state. "Accredited state" means a state in which the insurance regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and...
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 5.10
  (215 ILCS 107/5.10) Sec. 5.10. Captive Insurer. "Captive insurer" is defined as in Section 123C-1 of the Illinois Insurance Code. (Source: P.A. 87-1090.)
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 5.15
  Control or controlled. "Control" or "controlled" has the meaning ascribed thereto in Article VIII 1/2 of the Illinois Insurance Code. (Source: P.A. 87-1090.)
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 5.20
  Controlled insurer. "Controlled insurer" means a licensed insurer that is controlled directly or indirectly by a producer. (Source: P.A. 87-1090.)
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 5.25
  Controlling producer. "Controlling producer" means a producer that directly or indirectly controls an insurer. (Source: P.A. 87-1090.)
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 5.30
  Licensed insurer or insurer. "Licensed insurer" or "insurer" means any person, firm, association, or corporation duly licensed to transact a property or casualty insurance...
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 5.35
  Producer. "Producer" means any person, firm, association, or corporation that for compensation, commission, or other thing of value acts or aids in any manner...
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 5.40
  Director. "Director" means the Director of the Department of Insurance. (Source: P.A. 87-1090.)
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 10
  Applicability. This Act applies to licensed insurers domiciled in this State or domiciled in a state that is not an accredited state having in effect...
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 15
  Minimum standards. (a) Controlled insurers and controlling producers must comply with the provisions of this Section no later than 60 days after the effective...
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 20
  Disclosure. The producer shall deliver written notice to the prospective insured before the effective date of any policy disclosing the relationship between the producer...
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 25
  Penalties. (a) If the Director believes that the controlling producer or any other person has not materially complied with this Act or any regulation...
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 30
  Administration of Act. The Department of Insurance shall administer this Act and may promulgate reasonable and necessary rules for that purpose. (Source: P.A. 87-1090.)
• Illinois Producer Controlled Insurer Act. - 215 ILCS 107, Section 99
  This Act takes effect upon becoming law. (Source: P.A. 87-1090.)

Last modified: February 18, 2015