Illinois Compiled Statutes 215 Insurance: Article XI 1/2 - Protected Cell Companies

• Illinois Insurance Code. - 215 ILCS 5, Section 179A-1
  Short title. This Article may be cited as the Protected Cell Company Law. (Source: P.A. 91-278, eff. 7-23-99.)
• Illinois Insurance Code. - 215 ILCS 5, Section 179A-5
  Purpose. This Article is adopted to provide a basis for the creation of protected cells by a domestic insurer as one means of accessing...
• Illinois Insurance Code. - 215 ILCS 5, Section 179A-10
  Definitions. "Domestic company" means an insurance company domiciled in the State of Illinois. "Fully funded" means that, with respect to any exposure attributed to...
• Illinois Insurance Code. - 215 ILCS 5, Section 179A-15
  Establishment of protected cells. (a) A domestic company may, with the prior written approval by the Director of a plan of operation submitted by...
• Illinois Insurance Code. - 215 ILCS 5, Section 179A-20
  Use and operation of protected cells. (a) The protected cell assets of any protected cell may not be charged with liabilities arising out of...
• Illinois Insurance Code. - 215 ILCS 5, Section 179A-25
  Reach of creditors and other claimants. (a) Protected cell assets are available only to the creditors of the protected cell company who are creditors...
• Illinois Insurance Code. - 215 ILCS 5, Section 179A-30
  Rehabilitation and liquidation of protected cell companies. (a) Notwithstanding any contrary provision in this Code, the rules promulgated under this Code, or any other...
• Illinois Insurance Code. - 215 ILCS 5, Section 179A-35
  No transaction of an insurance business. A protected cell insurance securitization shall not be deemed to be an insurance or reinsurance contract. An investor...
• Illinois Insurance Code. - 215 ILCS 5, Section 179A-40
  Rules. The Director may promulgate reasonable rules as may be necessary to effectuate the purposes of this Article. (Source: P.A. 91-278, eff. 7-23-99.)

Last modified: February 18, 2015