Illinois Compiled Statutes 215 Insurance: Article -

• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 1
  Scope. This Act shall apply to: (1) companies organized or operating prior to the effective date of this Act, under an Act entitled, "An...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 2
  Farm Mutual Insurance Companies. Any district, county, township or special act mutual insurance company now authorized to write insurance in this State shall hereafter...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 3
  Definitions. For purposes of this Act unless the context clearly requires otherwise: "Policyholders' Surplus" means a company's admitted assets less its liabilities, including its...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 4
  Definition of Admitted Assets. Admitted assets shall include those investments permitted under Section 12 of this Act and in addition thereto, only the following:...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 5
  Kinds of Insurance. (1) Any company operating under this Act is authorized to insure or to accept reinsurance from other farm mutual companies against...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 6
  Territories. The territories of a farm mutual insurance company are limited to its domiciliary county and counties contiguous thereto. However, territories may be expanded...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 7
  Additional Territory. Any farm mutual insurance company may amend its articles of incorporation to include other adjoining counties, provided that the company's net written...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 8
  Amendment of Articles of Incorporation. (1) A farm mutual company may amend its articles of incorporation in any respect not in violation of this...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 9
  Qualification of Membership - Of Directors - Representatives - Personal Liability. Only policyholders residing in the territory in which the farm mutual insurance company...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 10
  Property insurable; limitations of risk. (1) Farm mutual insurance companies are permitted to insure the following classes of property: (a) Farm property, including residences...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 11
  Premium and assessments. The company shall collect from its members such premiums, fees and assessments as the directors shall find necessary or as prescribed...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 12
  Investments. Without the prior approval of the Director, the funds of any company operating under or regulated by the provisions of this Act, shall be...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 13
  Annual statement - filing of - penalty for late filing. Every company authorized under this Act shall file with the Director by January 31...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 14
  Membership requirement. Any company which, on or after December 31, 1988, fails to maintain a minimum of 100 members shall be subject to liquidation...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 15
  Application of law. Companies subject to this Act shall be subject to the provisions of Article X (Merger) and Article XXV of the Illinois...
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 16
  New companies prohibited. No farm mutual insurance company shall be incorporated after the effective date of this Act. (Source: P.A. 84-1431.)
• Illinois Farm Mutual Insurance Company Act of 1986. - 215 ILCS 120, Section 17
  This Article shall be known and may be cited as the "Farm Mutual Insurance Company Act of 1986". (Source: P.A. 84-1431.)

Last modified: February 18, 2015