Illinois Compiled Statutes 215 Insurance: Article VIIC - Domestic Captive Insurance Companies

• Illinois Insurance Code. - 215 ILCS 5, Section 123C-1
  Definitions. As used in this Article: A. "Affiliate" or "Affiliated company" shall have the meaning set forth in subsection (a) of Section 131.1 (and,...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-2
  Authority of captives; restrictions. A. Any captive insurance company, when permitted by its articles of association or charter, may apply to the Director for...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-3
  Minimum Capital. A. No pure captive insurance company, association captive insurance company incorporated as a stock insurer, or industrial insured captive insurance company incorporated...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-4
  Minimum Surplus. A. No captive insurance company shall be issued a certificate of authority unless it shall possess paid-in surplus of not less than...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-5
  Formation of Captive Insurance Companies in this State; Certificate of Authority. A. A pure captive insurance company shall be incorporated as a stock insurer...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-6
  Change in Plan of Operation; Violations. Any material change in items (i) through (v) of the captive insurance company's plan of operations described in...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-7
  Directors - Conflicts of Interest. A. The provisions of Section l0 shall apply to stock captive insurance companies and all those having dealings therewith...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-8
  Merger, Consolidation, Plans of Exchange and Reorganization. A. The provisions of Article X shall apply to captive insurance companies; provided, however, that: (1) if...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-9
  Reports, Statements and Mandatory Reserves. A. Captive insurance companies shall not be required to make any annual report except as provided in this Article....
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-10
  Examinations and investigations; fees. A. The provisions of Sections 132 through 132.7 shall apply to captive insurance companies. The expenses and charges of any...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-11
  Grounds and Procedures for Suspension or Revocation of Certificate of Authority. A. The certificate of authority of a captive insurance company to do an...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-12
  Legal Investments. A. The provisions of Article VIII and of Sections 131.2 and 131.3 shall apply to association captive insurance companies. B. No pure...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-13
  Reinsurance. A. Any captive insurance company may provide reinsurance on risks ceded by any other insurer; provided, however, that the risks so assumed are...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-14
  Rating Organizations; Memberships; Rate or Policy Filing. No captive insurance company shall be required to join a rating organization. No captive insurance company shall...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-15
  Exemption from Compulsory Associations. No captive insurance company shall be permitted or required to join or contribute financially to any plan, pool, association, or...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-16
  Tax. A. Every captive insurance company organized under the provisions of this Article and doing business in this State shall, for the privilege of...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-17
  Fees. A. The Director shall charge, collect, and give proper acquittances for the payment of the following fees and charges with respect to a...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-18
  Additional powers, rights, and obligations. In addition to the powers and duties set forth in the other provisions of this Article VIIC and to...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-19
  Letters of credit. A. Any letter of credit used to meet the requirements set forth in Sections 123C-3 and 123C-4: (1) may not be...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-20
  Laws Applicable. No provisions of this Code, other than those contained in this Article or contained in specific references contained in this Article, shall...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-21
  Severability. If any clause, sentence, paragraph, Section or part of this Article or the application thereof to any person or circumstances, shall, for any...
• Illinois Insurance Code. - 215 ILCS 5, Section 123C-22
  Subordinated Indebtedness. A captive insurance company organized under this Article may borrow or assume a liability for the repayment of a sum of money...

Last modified: February 18, 2015