Illinois Compiled Statutes 215 Insurance: Article VIII 1/2 - Insurance Holding Company Systems
- Illinois Insurance Code. - 215 ILCS 5, Section 131.1
Definitions. As used in this Article, the following terms have the respective meanings set forth in this Section unless the context requires otherwise: (a) An...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.2
Subsidiaries. A domestic company, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries. The subsidiaries...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.3
(1) Investments in common stock, preferred stock, debt obligations or other securities of subsidiaries made under Section 131.2 of this Article are subject to Sections...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.4
Acquisition of control of or merger with domestic company. (a) No person other than the issuer may make a tender for or a request or...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.5
Statement; contents. In order to seek the approval of the Director pursuant to Section 131.8, the applicant must file a statement with the Director under...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.6
(1) If the person required to file the statement referred to in Section 131.5 is a partnership, limited partnership, syndicate or other group, the Director...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.7
If any offer, request, invitation, agreement or acquisition referred to in Section 131.4 is proposed to be made by means of a registration statement...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.8
(1) After the statement required by Section 131.5 has been filed, the Director shall approve any merger, consolidation or other acquisition of control referred to...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.8a
The Director may retain at the applicant's expense any attorneys, actuaries, accountants and other experts not otherwise a part of the Director's staff as may...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.9
All statements, amendments or other material filed under Section 131.5 must be delivered to the domestic company within 10 business days after the acquiring...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.9a
Exemptions. Sections 131.4 through 131.12 do not apply to: (1) any transaction that is subject to Article X of this Code dealing with merger, consolidation,...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.10
Sections 131.4 through 131.12 do not apply to: (1) any transaction which is subject to Article X of this Code dealing with merger, consolidation...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.11
The following are violations of Sections 131.4 through 131.12: (1) the failure to file any statement, amendment, or other material required to be filed under...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.12
The courts of this State are hereby vested with jurisdiction over every person not resident, domiciled, or authorized to do business in this State who...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.12a
Acquisitions involving companies not otherwise covered. (1) Definitions. The following definitions shall apply for the purposes of this Section only: (a) "Acquisition" means any agreement,...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.13
Registration of companies. Every company which is authorized to do business in this State and which is a member of an insurance holding company system...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.14
Every company subject to registration must file a registration statement on a form and in a format prescribed by the Director, which shall contain the...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.14a
Summary filing. Every company subject to registration must file a summary outlining all items in the current registration statement representing changes from the prior registration...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.14b
Enterprise risk filing. The ultimate controlling person of every company subject to registration shall also file an annual enterprise risk report. The report shall, to...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.14c
Violations. The failure to file a registration statement or any summary of the registration statement or enterprise risk filing required by this Article within the...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.14d
Confidentiality. (a) Documents, materials, or other information in the possession or control of the Director that are obtained by, created by, or disclosed to the...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.15
No information need be disclosed on the registration statement filed under Section 131.14 if the information is not material for the purposes of Sections...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.16
Reporting material changes or additions; penalty for late registration statement. (1) Each registered company must keep current the information required to be included in its...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.17
(1) The Director must terminate the registration of any company which demonstrates that it no longer is a member of an insurance holding company system....
- Illinois Insurance Code. - 215 ILCS 5, Section 131.18
Sections 131.13 through 131.19 do not apply to any company, information, or transaction if and to the extent that the Director by rule, regulation, or...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.19
Disclaimer of affiliation. Any person may file with the Director a disclaimer of affiliation with any authorized company or a disclaimer may be filed by...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.20
Standards for transactions with affiliates; adequacy of surplus. (1) Transactions with their affiliates by companies subject to registration are subject to the following standards: (a)...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.20a
Prior notification of transactions; dividends and distributions. (1) (a) The following transactions listed in items (i) through (vii) involving a domestic company and any person...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.20b
Controlled companies; management; directors. (1) Notwithstanding the control of a domestic company by any person, the officers and directors of the company shall not thereby...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.20c
Supervisory colleges. (a) With respect to any company registered under Section 131.13 of this Code, and in accordance with subsection (c) of this Section, the...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.21
Examination. (1) Subject to the limitation contained in this section and in addition to the powers which the Director has under Sections 132 through 132.7...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.22
Confidential treatment. (a) Documents, materials, or other information in the possession or control of the Department that are obtained by or disclosed to the Director...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.23
Injunctions; prohibitions against voting securities; sequestration of voting securities. (1) Whenever it appears to the Director that any company or any director, officer, employee or...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.24
Sanctions. (1) Every director or officer of an insurance holding company system who knowingly violates, participates in, or assents to, or who knowingly permits any...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.25
Receivership. Whenever it appears to the Director that any person has committed a violation of this Article which so impairs the financial condition of...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.25a
Recovery upon order of liquidation or rehabilitation of domestic insurer. (a) If an order for liquidation or rehabilitation of a domestic insurer has been...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.26
Revocation, suspension, or non-renewal of company's license. Whenever the Director determines that any person has committed a violation of this Article which makes the continued...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.27
Judicial review. (1) Any order or decision made, issued or executed by the Director under this Article whereby any person or company is aggrieved is...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.28
Separability of provisions. If any provisions of this Article or the application thereof to any person or circumstances is held invalid, the invalidity does...
- Illinois Insurance Code. - 215 ILCS 5, Section 131.29
Rulemaking power. The Director may adopt such administrative rules as are necessary to implement the provisions of this Article. (Source: P.A. 98-609, eff. 1-1-14.)
- Illinois Insurance Code. - 215 ILCS 5, Section 131.30
Conflict with other laws. This Article supersedes all laws and parts of laws of this State inconsistent with this Code with respect to matters covered...
Last modified: February 18, 2015