Approval of captive reinsurance pools

(215 ILCS 5/123C-23)     (Section scheduled to be repealed on January 1, 2037)     Sec. 123C-23. Approval of captive reinsurance pools. Before determining whether to approve a captive insurance company's participation in a captive reinsurance pool under Section 123C-13 of this Code, the Director may:         (1) require the captive insurance company provide to     the Director evidence that the captive reinsurance pool:            (a) is composed only of other captive         insurance companies holding a certificate of authority under this Article or a similar law of another jurisdiction; and            (b) will be able to meet the pool's financial         obligations; and        (2) impose any other limitation or requirement on     the captive insurance company that is necessary and proper to provide adequate security for the captive insurance company. (Source: P.A. 100-1118, eff. 11-27-18.)