Chapter 215 — INSURANCE

(215 ILCS 5/282.1) (from Ch. 73, par. 894.1) (Section scheduled to be repealed on January 1, 2027) Sec. 282.1. Fraternal benefit societies. Any incorporated society, order or supreme lodge without capital stock, including one exempted under the provisions of Section 315.5(a) of t…

(215 ILCS 5/283.1) (from Ch. 73, par. 895.1) (Section scheduled to be repealed on January 1, 2027) Sec. 283.1. Lodge system. (a) A society is operating on the lodge system if it has a supreme governing body and subordinate lodges into which members are elected, initiated or admit…

(215 ILCS 5/284.1) (from Ch. 73, par. 896.1) (Section scheduled to be repealed on January 1, 2027) Sec. 284.1. Representative form of government. A society has a representative form of government when: (a) It has a supreme governing body constituted in one of the following ways: …

(215 ILCS 5/285.1) (from Ch. 73, par. 897.1) (Section scheduled to be repealed on January 1, 2027) Sec. 285.1. Definitions. Whenever used in this amendatory Act: (a) "Benefit contract" shall mean the agreement for provision of benefits authorized by Section 297.1 of this amendato…

(215 ILCS 5/286.1) (from Ch. 73, par. 898.1) (Section scheduled to be repealed on January 1, 2027) Sec. 286.1. Purposes and powers. (a) A society shall operate for the benefit of members and their beneficiaries by: (1) Providing benefits as specified in Section 297.1 of this amen…

(215 ILCS 5/287.1) (from Ch. 73, par. 899.1) (Section scheduled to be repealed on January 1, 2027) Sec. 287.1. Qualifications for membership. (a) A society shall specify in its laws or rules: (1) eligibility standards for each and every class of membership, provided that if benef…

(215 ILCS 5/288.1) (from Ch. 73, par. 900.1) (Section scheduled to be repealed on January 1, 2027) Sec. 288.1. Location of office, meetings, communications to members, grievance procedures. (a) The principal office and place of business of any domestic society shall be located in…

(215 ILCS 5/289.1) (from Ch. 73, par. 901.1) (Section scheduled to be repealed on January 1, 2027) Sec. 289.1. Personal liability. (a) The officers and members of the supreme governing body or any subordinate body of a society shall not be personally liable for any benefits provi…

(215 ILCS 5/29) (from Ch. 73, par. 641) (Section scheduled to be repealed on January 1, 2027) Sec. 29. Amendment of articles of incorporation. (1) A company subject to the provisions of this article may amend its articles of incorporation in any respect not in violation of law bu…

(215 ILCS 5/290.1) (from Ch. 73, par. 902.1) (Section scheduled to be repealed on January 1, 2027) Sec. 290.1. Waiver. The laws of the society may provide that no subordinate body, nor any of its subordinate officers or members, shall have the power or authority to waive any of t…

(215 ILCS 5/291.1) (from Ch. 73, par. 903.1) (Section scheduled to be repealed on January 1, 2027) Sec. 291.1. Organization. A domestic society organized on or after January 1, 1986 (the effective date of Public Act 84-303) shall be formed as follows: (a) Seven or more citizens o…

(215 ILCS 5/292.1) (from Ch. 73, par. 904.1) (Section scheduled to be repealed on January 1, 2027) Sec. 292.1. Amendments to Laws. (a) A domestic society may amend its laws in accordance with the provisions thereof by action of its supreme governing body at any regular or special…

(215 ILCS 5/293.1) (from Ch. 73, par. 905.1) (Section scheduled to be repealed on January 1, 2027) Sec. 293.1. Institutions. A society may create, maintain and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by Sec…

(215 ILCS 5/294.1) (from Ch. 73, par. 906.1) (Section scheduled to be repealed on January 1, 2027) Sec. 294.1. Reinsurance. (a) A domestic society may enter into reinsurance transactions only in accordance with Article XI of this Code. (b) A domestic society may reinsure the risk…

(215 ILCS 5/295.1) (from Ch. 73, par. 907.1) (Section scheduled to be repealed on January 1, 2027) Sec. 295.1. Consolidations and mergers. A domestic society may enter into agreements of consolidation or merger only in accordance with Article X of this Code. (Source: P.A. 84-303.…

(215 ILCS 5/295.2) (Section scheduled to be repealed on January 1, 2027) Sec. 295.2. Maintenance of solvency. (a) In the event a domestic society has an authorized control level event described in Section 35A-25 of this Code under circumstances the Director determines will not be…

(215 ILCS 5/296.1) (from Ch. 73, par. 908.1) (Section scheduled to be repealed on January 1, 2027) Sec. 296.1. Conversion of fraternal benefit society to mutual life insurance company. (a) Any society subject to the provisions of this amendatory Act possessed of admitted assets i…

(215 ILCS 5/297.1) (from Ch. 73, par. 909.1) (Section scheduled to be repealed on January 1, 2027) Sec. 297.1. Benefits. (a) A society may provide the following contractual benefits in any form: (1) Death benefits; (2) Endowment benefits; (3) Annuity benefits; (4) Temporary or pe…

(215 ILCS 5/298.1) (from Ch. 73, par. 910.1) (Section scheduled to be repealed on January 1, 2027) Sec. 298.1. Beneficiaries. (a) The owner of a benefit contract shall have the right at all times to change the beneficiary or beneficiaries in accordance with the laws or rules of t…

(215 ILCS 5/299.1a) (from Ch. 73, par. 911.1a) (Section scheduled to be repealed on January 1, 2027) Sec. 299.1a. Benefits not attachable. (a) No money or other charity, relief or aid to be paid, provided or rendered by any society shall be liable to attachment, garnishment or ot…

(215 ILCS 5/299.1b) (Section scheduled to be repealed on January 1, 2027) Sec. 299.1b. Data exchanges; administrative liens. (a) Any benefit association doing business in the State and governed by this Code shall enter into an agreement for data exchanges with the Department of H…

(215 ILCS 5/3.1) (from Ch. 73, par. 615.1) Sec. 3.1. Definitions of admitted assets. "Admitted Assets" includes the investments authorized or permitted by this Code, the credit for reinsurance allowed by this Code, and in addition thereto, only the following: (1) Amounts, other t…

(215 ILCS 5/30) (from Ch. 73, par. 642) (Section scheduled to be repealed on January 1, 2027) Sec. 30. Approval of amendment. The restated articles of incorporation and the other documents so delivered to the Director may be approved or disapproved by the Director in the same man…

(215 ILCS 5/300.1) (from Ch. 73, par. 912.1) (Section scheduled to be repealed on January 1, 2027) Sec. 300.1. The benefit contract. (a) Every society authorized to do business in this State shall issue to each owner of a benefit contract a certificate specifying the amount of be…

(215 ILCS 5/301.1) (from Ch. 73, par. 913.1) (Section scheduled to be repealed on January 1, 2027) Sec. 301.1. Nonforfeiture benefits, cash surrender values, certificate loans and other options. (a) For certificates issued prior to one year after the effective date of this amenda…

(215 ILCS 5/302.1) (from Ch. 73, par. 914.1) (Section scheduled to be repealed on January 1, 2027) Sec. 302.1. Investments and admitted assets. A domestic society shall invest its funds only in such investments as are authorized by the laws of this State for the investment of ass…

(215 ILCS 5/303.1) (from Ch. 73, par. 915.1) (Section scheduled to be repealed on January 1, 2027) Sec. 303.1. Funds. (a) All assets shall be held, invested and disbursed for the use and benefit of the society, and no member or beneficiary shall have or acquire individual rights …

(215 ILCS 5/304.2) (from Ch. 73, par. 916.2) (Section scheduled to be repealed on January 1, 2027) Sec. 304.2. Taxation. Every society organized or licensed under this amendatory Act is hereby declared to be a charitable and benevolent institution, and all of its funds shall be e…

(215 ILCS 5/305.1) (from Ch. 73, par. 917.1) (Section scheduled to be repealed on January 1, 2027) Sec. 305.1. Valuation. (a) Standards of valuation for certificates issued prior to one year after the effective date of this amendatory Act shall be those provided by the laws appli…

(215 ILCS 5/306.1) (from Ch. 73, par. 918.1) (Section scheduled to be repealed on January 1, 2027) Sec. 306.1. Reports. Every society transacting business in this State shall annually, on or before the first day of March, unless for cause shown such time has been extended by the …

(215 ILCS 5/307.1) (from Ch. 73, par. 919.1) (Section scheduled to be repealed on January 1, 2027) Sec. 307.1. Annual license. Societies which were authorized to transact business in this State prior to the effective date of this amendatory Act may continue such business until th…

(215 ILCS 5/308.1) (from Ch. 73, par. 920.1) (Section scheduled to be repealed on January 1, 2027) Sec. 308.1. Examination of societies - adverse publications. (a) The Director, or any person he or she may appoint, may examine any domestic, foreign or alien society transacting or…

(215 ILCS 5/309.1) (from Ch. 73, par. 921.1) (Section scheduled to be repealed on January 1, 2027) Sec. 309.1. Foreign or alien society - admission. No foreign or alien society shall transact business in this State without a certificate of authority issued by the Director in acco…

(215 ILCS 5/31) (from Ch. 73, par. 643) (Section scheduled to be repealed on January 1, 2027) Sec. 31. Recording restated articles of incorporation. The duplicate original of the restated articles of incorporation returned by the Director shall be filed for record, within 15 days…

(215 ILCS 5/310.1) (from Ch. 73, par. 922.1) (Section scheduled to be repealed on January 1, 2027) Sec. 310.1. Suspension, revocation or refusal to renew certificate of authority. (a) Domestic Societies. When, upon investigation, the Director is satisfied that any domestic societ…

(215 ILCS 5/311.1) (from Ch. 73, par. 923.1) (Section scheduled to be repealed on January 1, 2027) Sec. 311.1. Injunction proceedings. (a) Upon the refusal or neglect of any society to make the annual report, as provided in this amendatory Act, or in case any such society shall e…

(215 ILCS 5/312.1) (from Ch. 73, par. 924.1) (Section scheduled to be repealed on January 1, 2027) Sec. 312.1. Salaries. No domestic society shall pay any salary, compensation or emolument to any officer, trustee or director thereof, nor any salary, compensation or emolument amou…

(215 ILCS 5/313.1) (from Ch. 73, par. 925.1) (Section scheduled to be repealed on January 1, 2027) Sec. 313.1. Licensing of producers. (a) Except as otherwise provided in this Section, producers of societies shall be subject to the provisions of Article XXXI of this Code. (b) No …

(215 ILCS 5/314.1) (from Ch. 73, par. 926.1) (Section scheduled to be repealed on January 1, 2027) Sec. 314.1. Unfair methods of competition and unfair and deceptive acts and practices. Every society authorized to do business in this State shall be subject to the provisions of Ar…

(215 ILCS 5/315.2) (from Ch. 73, par. 927.2) (Section scheduled to be repealed on January 1, 2027) Sec. 315.2. Service of process. (a) Every society authorized to do business in this State shall appoint in writing the Director and each successor in office to be its true and lawfu…

(215 ILCS 5/315.3) (from Ch. 73, par. 927.3) (Section scheduled to be repealed on January 1, 2027) Sec. 315.3. Review. The provisions of the Administrative Review Law, and all amendments and modifications thereof, and the rules adopted pursuant thereto shall apply to and govern a…

(215 ILCS 5/315.4) (from Ch. 73, par. 927.4) (Section scheduled to be repealed on January 1, 2027) Sec. 315.4. Penalties. (a) Any person who willfully makes a false or fraudulent statement in or relating to an application for membership or for the purpose of obtaining money from,…

(215 ILCS 5/315.5) (from Ch. 73, par. 927.5) (Section scheduled to be repealed on January 1, 2027) Sec. 315.5. Exemption of certain societies. (a) Nothing contained in this amendatory Act shall be so construed as to affect or apply to: (1) grand or subordinate lodges of societies…

(215 ILCS 5/315.6) (from Ch. 73, par. 927.6) (Section scheduled to be repealed on January 1, 2027) Sec. 315.6. Application of other Code provisions. Unless otherwise provided in this amendatory Act, every fraternal benefit society shall be governed by this amendatory Act and shal…

(215 ILCS 5/315.7) (from Ch. 73, par. 927.7) (Section scheduled to be repealed on January 1, 2027) Sec. 315.7. Severability. If any provision of this amendatory Act or the application of such provision to any circumstance is held invalid, the remainder of the amendatory Act or th…

(215 ILCS 5/315.9) (Section scheduled to be repealed on January 1, 2027) Sec. 315.9. Voluntary dissolution. Upon application to the Director, a domestic society may request that it be dissolved and that its existence be terminated. The application shall demonstrate that the appli…

(215 ILCS 5/32) (from Ch. 73, par. 644) (Section scheduled to be repealed on January 1, 2027) Sec. 32. Increase in capital. (1) Any company subject to this Article may increase its paid-up capital either by issuing additional shares not to exceed the number of authorized shares a…

(215 ILCS 5/32.1) (from Ch. 73, par. 644.1) (Section scheduled to be repealed on January 1, 2027) Sec. 32.1. Stock option plans. A company subject to this Article which has done business in Illinois for 3 or more years and which has adopted a stock option plan shall submit that p…

(215 ILCS 5/33) (from Ch. 73, par. 645) (Section scheduled to be repealed on January 1, 2027) Sec. 33. Decrease of capital. (1) When articles of amendment providing for a decrease of capital or a decrease in the par value of shares, or both, become effective, each issued share of…

(215 ILCS 5/338) (from Ch. 73, par. 950) Sec. 338. Scope of Article. (1) This Article shall apply to: (a) all societies organized or operating, prior to the effective date of this Code, under an Act entitled "An Act relating to burial insurance societies", approved June 10, 1911;…