Illinois Compiled Statutes 215 ILCS 5 Illinois Insurance Code. Section 51

    (215 ILCS 5/51) (from Ch. 73, par. 663)

    (Section scheduled to be repealed on January 1, 2017)

    Sec. 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 of this Article as now and hereafter amended, he shall conduct an examination of the company. If he finds that the organization is complete and that all of the requirements of this Code have been met he shall issue to such company a certificate of authority to transact the kind or kinds of business specified therein. No company shall transact any business of insurance in this State until it shall have received such certificate of authority as herein prescribed nor any business of insurance not specified in such certificate of authority.

(Source: Laws 1967, p. 1808.)

Sections:  Previous  45  45.1  46  47  48  49  50  51  52  53  54  55  56  57  58  Next

Last modified: February 18, 2015